Rent Now Pay Later Service, Solution to Housing Deficit - Okanlawon David, CEO, Propa
In Nigeria's bustling real estate sector, where finding suitable accommodation can be daunting, a prop-tech platform aims to streamline the process of renting, buying, selling, and financing apartments across Nigeria.
His motivation stemmed from personal experiences as an estate agent in Ogun State, facing challenges in securing a comfortable dwelling upon his relocation to Lagos.
Source: UGC
Dissatisfied with the sub-standard apartments he encountered in Lagos, David resolved to leverage his accumulated experience and go digital.
Propa, he explains, is not merely about rentals but endeavours to construct the infrastructure that will revolutionize real estate payments and transactions across Africa.
In David's words:
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In simple terms - what we are doing is building the same system that is available in developed countries like America for Nigerians. One product at a time.
Rent Now, Pay Later
Recognizing the financial constraints many Nigerians face in paying hefty upfront fees for rentals, David and his team introduced a groundbreaking feature – the "rent now and pay later" option.
This flexible payment scheme enables individuals to rent and finance apartments in Lagos within 48 hours, catering to the market's diverse needs.
He said:
We had to adapt to the market demand by introducing our rent now and pay later feature, which allows anyone to rent and finance apartment anywhere in Lagos in less than 48 hours.
Propa's distinctive focus, as David emphasizes, goes beyond profit-making. Their mission is to establish systems and structures that efficiently facilitate seamless processes for renting, buying, selling, owning, trading, financing, and investing in real estate.
Cultural inclusivity and localization
Setting itself apart, Propa prioritizes cultural inclusivity by offering customer service in Hausa, Yoruba, and English.
Propa's commitment to understanding Nigeria's diverse cultures and languages adds a layer of accessibility that resonates with its user base.
He said:
We have built our platform in a way that our customer service team currently operates in 3 different languages which is Hausa, Yoruba and English. This allows most of our clients to feel at home, especially those who don't understand English that much.
Overcoming funding challenges and nurturing talent
Navigating the challenging terrain of securing funds, Propa has successfully raised capital from family, friends, and loans.
David emphasizes the importance of investing in top-notch talent, acknowledging that quality talents deserve competitive salaries.
Propa's approach involves internship programs and strategic pitches to attract skilled individuals, fostering a collaborative environment in pursuit of their mission.
He stated:
One of the ways we have been able to get quality talents is through our internship programs, and of course pitching to programmers and other talented individuals to join our mission of building the infrastructure that will enable, transform and power real estate payment and transactions across Africa in exchange for equity or shares.
Being a member of The Nest Innovation Park community and part of this ecosystem has influenced Propa's growth and development.
David admits that the opportunities have been endless, from networking events to funding opportunities to community hangouts and co-working spaces.
According to David:
The networking opportunities provided by The Nest have been invaluable and the resources offered such as the free boardroom usage has really been a life saver for us.
Words of wisdom for aspiring entrepreneurs
For aspiring entrepreneurs, David advocates gaining experience in their chosen field through employment before venturing into entrepreneurship.
He advises saving money, assembling a dedicated team, and building something with the potential to impact thousands, if not millions, of lives.
Propa's journey is a testament to the transformative power of dedication, innovation, and a commitment to addressing real-world challenges.
House rent in Canada hits new high as many Nigerians sleep on streets
In related news, Legit.ng reported that some Nigerians who moved to Canada to aspire to improve their lives are encountering more significant challenges than anticipated.
A considerable number of Nigerians who had envisioned an enhanced life now find themselves residing in cemeteries and on the streets.
This unfortunate predicament directly results from the escalating housing rental costs in diverse Canadian cities.
The excessively high prices are beyond the means of numerous Nigerians who entered the country on student visas without work permits, restricting their choices and compelling them to dwell in non-traditional locations.
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Source: Legit.ng
