in investing, Proptech

How Proptech Is Revolutionizing Nigeria’s Rental Market in 2025

This ultimate guide explores how proptech is revolutionizing Nigeria’s rental market in 2025. We’ll dive into top startups like Spleet, RentSmallSmall, and MyPropfolio, share real-world success stories, and give you practical steps to rent smarter—whether you’re a tenant in Lekki, a landlord in Abuja, or a diaspora investor in London.

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Nigeria’s rental market is booming, with Lagos and Abuja facing a 22 million housing deficit and rents rising 18% annually (source: World Bank, Nigeria Property Centre, 2024). But renting in Nigeria can be a hassle—think endless landlord disputes, fake agents, and ₦3M upfront rent demands. Enter proptech (property technology), the game-changer transforming how Nigerians rent homes in 2025. From apps that find apartments in 24 hours to platforms offering “rent now, pay later,” proptech is making renting faster, safer, and more affordable.

This ultimate guide explores how proptech is revolutionizing Nigeria’s rental market in 2025. We’ll dive into top startups like Spleet, RentSmallSmall, and MyPropfolio, share real-world success stories, and give you practical steps to rent smarter—whether you’re a tenant in Lekki, a landlord in Abuja, or a diaspora investor in London. Plus, we’ve got visuals, FAQs, and shareable tips to help you navigate Nigeria’s proptech boom.

Table of Contents

  1. What Is Proptech and Why It Matters in Nigeria

  2. Top 5 Proptech Trends Shaping Nigeria’s Rental Market

  3. Spotlight: 3 Proptech Startups to Watch in 2025

  4. How Proptech Helps Tenants Rent Smarter

  5. Proptech for Landlords: Streamline and Earn More

  6. Proptech for Investors: New Opportunities in 2025

  7. Step-by-Step Guide to Using Proptech for Rentals

  8. Challenges and Risks of Proptech in Nigeria

  9. Frequently Asked Questions

1. What Is Proptech and Why It Matters in Nigeria

Proptech combines property and technology to solve real estate problems. Think apps that match tenants with verified landlords, platforms for paying rent monthly, or AI tools that predict property prices. In Nigeria, proptech is a $1 billion industry growing 25% annually (source: TechCabal, 2025), driven by a young, tech-savvy population (60% under 30) and a housing crisis.

Why It’s a Big Deal

  • Solves Pain Points: No more fake agents or endless apartment hunts.

  • Saves Money: Flexible payment plans cut upfront costs.

  • Boosts Trust: Verified listings and escrow payments reduce scams.

For example, Ada, a 26-year-old marketer in Lagos, used Spleet to find a verified apartment in Yaba in 24 hours, paying rent monthly instead of ₦2M upfront. Proptech made her move stress-free.

2. Top 5 Proptech Trends Shaping Nigeria’s Rental Market

Proptech is evolving fast. Here are the top trends for 2025:

  1. Rent Now, Pay Later: Platforms like Spleet and RentSmallSmall let tenants pay rent monthly, not yearly.

  2. Verified Listings: Apps use AI to flag fake agents and unverified properties.

  3. Virtual Tours: 3D tours let you view apartments from anywhere (great for diaspora renters).

  4. Smart Contracts: Blockchain-based leases ensure transparency (e.g., MyPropfolio).

  5. Tenant Screening: AI tools check tenants’ credit, reducing landlord risks.

3. Spotlight: 3 Proptech Startups to Watch in 2025

Spleet

  • What It Does: Matches tenants with verified landlords, offers “rent now, pay later” plans.

  • Why It’s Hot: Raised $10M in 2024, operates in Lagos and Abuja.

  • Example: Tunde, a student, rented a ₦600,000/year flat in Surulere, paying ₦50,000 monthly via Spleet.

RentSmallSmall

  • What It Does: Provides flexible rent payments and tenant screening.

  • Why It’s Hot: 50,000+ users in 2024, focuses on budget renters.

  • Example: Funmi, a freelancer, moved to Ikeja without paying a year’s rent upfront.

MyPropfolio

  • What It Does: Uses blockchain for secure leases and fractional property investments.

  • Why It’s Hot: Appeals to diaspora investors with virtual tours.

  • Example: Chidi in Canada co-owns a Lekki flat via MyPropfolio for $2,000.

4. How Proptech Helps Tenants Rent Smarter

Proptech saves tenants time, money, and stress:

  • Faster Searches: Find verified apartments in hours, not weeks.

  • Flexible Payments: Pay rent monthly (e.g., ₦50,000 instead of ₦600,000 upfront).

  • Scam Protection: Escrow payments and verified listings reduce fraud.

  • Virtual Tours: View properties remotely, perfect for diaspora renters.

Case Study: Bola, a nurse in Abuja, used RentSmallSmall to rent a one-bedroom for ₦800,000/year, paying ₦66,000 monthly. She avoided a fake agent who demanded ₦2M upfront.

5. Proptech for Landlords: Streamline and Earn More

Landlords benefit too:

  • Tenant Screening: AI checks tenants’ payment history, reducing defaults.

  • Automated Payments: Platforms like Spleet collect rent and send reminders.

  • Wider Reach: List properties to millions, including diaspora tenants.

Example: Mr. Okeke, a landlord in Lekki, used Spleet to find a tenant in 3 days, cutting agent fees by 50%.

6. Proptech for Investors: New Opportunities in 2025

Proptech opens doors for investors:

  • Fractional Ownership: Buy shares in properties for as low as $1,000 (e.g., MyPropfolio).

  • REITs: Invest in rental portfolios via proptech platforms.

  • Data Insights: AI predicts high-ROI areas like Eko Atlantic (15% returns).

Cross-Link: See our guide to investing in Lagos.

7. Step-by-Step Guide to Using Proptech for Rentals

Ready to try proptech? Follow these steps:

  1. Choose a Platform: Pick Spleet, RentSmallSmall, or MyPropfolio based on needs (rentals vs. investment).

  2. Create an Account: Sign up with your email and NIN for verification.

  3. Browse Listings: Filter by location, budget, and type (e.g., Lagos, ₦500,000/year).

  4. Take Virtual Tours: View 3D tours or request live video calls.

  5. Pay Securely: Use escrow via Paystack or Flutterwave.

  6. Sign Digitally: E-sign leases with blockchain security.

  7. Track Payments: Use the app’s dashboard to monitor rent or returns.

8. Challenges and Risks of Proptech in Nigeria

Proptech isn’t perfect:

  • Internet Access: Rural areas lack reliable 4G for apps.

  • Scams: Some platforms aren’t SEC-registered; check ESVARBON or SEC Nigeria.

  • Costs: Monthly payment plans may include 5–10% fees.

Tip: Cross-check platforms with our scam-avoidance guide.

9. Frequently Asked Questions

Q: What is proptech in Nigeria?
A: Proptech uses technology (apps, AI, blockchain) to simplify renting, buying, or investing in properties.

Q: Is Spleet safe for renting?
A: Yes, Spleet is SEC-registered and uses escrow for secure payments.

Q: Can I rent monthly in Lagos with proptech?
A: Yes, platforms like RentSmallSmall offer monthly rent plans for verified properties.

Q: How do diaspora Nigerians use proptech?
A: Use platforms like MyPropfolio for virtual tours and fractional investments from abroad.

Join Nigeria’s Proptech Revolution

Proptech is transforming Nigeria’s rental market, making it easier for tenants, landlords, and investors to thrive in 2025. Whether you’re renting in Lagos, managing properties in Abuja, or investing from abroad, these tools save time, money, and stress. Share this guide to help Nigerians rent smarter!

Share This Post: Post on LinkedIn, X, WhatsApp, or Instagram to spread the proptech wave. 🚀

Join the Conversation: Comment: Have you tried Spleet or RentSmallSmall? What’s your proptech experience?

Subscribe to Nigeria Real Estate Blog for more proptech insights, land law tips, and investing strategies!

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