Tenancy Terms

This page contains Shelter Mart’s general property letting terms and applies to all eligible tenants with Shelter Mart. A personalised property engagement agreement will be prepared between Sheltermart and a prospective Occupant which will include the general terms and specific terms which characterize the property a tenant reserves for their occupation.

RENT CONFIRMATION BY SHELTER MART

A prospective tenant/licensee/lessee of a property listed on the Shelter Mart Platform or managed by Shelter Mart is required to provide certain documents for verification purposes within 24 hours of reserving a property for occupation. The move-in date may be extended where an Occupant is unable to present the required document within the above stipulated time.

Upon a satisfactory verification process, Shelter Mart shall confirm the letting of the property as reserved by the prospective tenant/licensee/lessee. No person other than Sheltermart may confirm or decline the letting of a property reserved by a prospective Occupant.

Where a prospective tenant provides invalid documents for any process, Shelter Mart shall reject such invalid documents and extend the Move-in date for the resubmission of the required documents by the prospective tenant. The property will be reserved and not cancelled by Shelter Mart. The move-in date will be extended for up to 15 days to enable the prospective tenant provide all the required documents, as all documents shall be provided by the prospective tenant no later than 48 hours before the Move-in date.

If a prospective tenant is an existing Occupier desirous to move into another property managed by Sheltermart, the terms relating to documentation procedure and verification shall apply.

NOTICE PERIOD & MINIMUM STAY

An Occupier may terminate a property letting agreement only in accordance with the terms of the personalised letting agreement between the Occupier and Sheltermart. However, an early termination of the property letting agreement by an Occupier will attract a termination penalty. An Occupier who terminates a property letting contract before the full term of the contract shall forfeit the Security Deposit paid as well as unused rent already paid in which the Occupier terminates.

Sheltermart properties are available for letting for the under-listed terms, depending on the property.  

• 12 months
• 24 months

 

Upon termination of a property letting contract, the Occupier is obliged to pay all outstanding rents, rates, any penalties accrued in respect of late payment of rent, property maintenance charges where applicable and such other amounts accrued over the property which remained unpaid at the date of termination.

The Security Deposit is a financial guarantee paid by the Occupier against breach of contract, damages to the property, and outstanding payment on the property. The Security Deposit is calculated on the basis of 20% of an annual rent for yearly renters or one month’s rent for monthly renters over the demised property. A prospective Occupier will pay the Security Deposit to Sheltermart before the commencement of the property letting in accordance with the property letting agreement.
Where a prospective occupier fails to pay the Security Deposit, the property reservation process is deemed incomplete and can thus not move into the property nor pay rent in respect of the selected property.

Where an existing Occupier chooses to move into another property listed on the Platform or managed by Shelter Mart, but with a higher rental value, the difference between the current rent payable by the Occupier and the new property will be paid to Shelter Mart to update the Security Deposit. The same procedure will apply where an Occupier chooses to move into a property with a lesser rental value.

SECURITY DEPOSIT PAYMENT TERMS

• Tenant needs to pay one month or 20% of rent as a security deposit.
• Tenant is required to pay the full Security Deposit at the time of reserving an apartment.
• The Security Deposit paid is stated in the tenancy agreement.
• In the case where a tenant chooses to make an internal transfer or upgrade his/her current rent type, the difference in the amount of the Security Deposit will be paid by the tenant before he/she making the actual transfer. In case the new rent is lower, the difference in amount is adjusted against the following month’s rent.

 

The property letting contract will commence on the selected start date, provided the Move-in date selected will not be earlier (or later) than the Contract Start Date. Any adjustments relating to the Contract Start Date must be made no later than 48 hours before the selected Contract Start date for a maximum of 7 days, while the Move-in date may be adjusted only by approval from Shelter Mart.

Where an Occupier decides to move into the property before the Contract start date, the Contract start date shall be adjusted to meet the move-in date, provided that the Property is ready to be inhabited.

An Occupier must schedule a move-in date at least two days before the desired move-in date. Where a move-in date is not selected, the Contract start date shall be deemed the move-in date.

PAYMENT TERMS

The rent on the demised property is payable in advance, no later than 5 days after the expiration of the last rent paid. Where an Occupier fails to pay the rent sum as stated above, the rent penalty will apply.

LATE PAYMENT CHARGES

Where an Occupier fails to pay his rent in accordance with the Payment terms, this clause will apply:

1. Rent sum left unpaid 5 days after the rent becomes due shall be subject to a late payment penalty of N10,000 (Ten Thousand Naira) per day of default.
2. The tenant shall be granted a 5-day grace period from the date the monthly rent falls due, after which a daily default penalty of N10,000 (Ten Thousand Naira) shall be charged on the Property.
3. The tenant further acknowledges that the Legal Representatives may commence eviction procedures where the outstanding rent, inclusive of the penalty fees, remains unpaid 2 days after 5 days of default.
4. Where the tenant pays only a portion of his rent on the date it becomes due, the penalty fees shall still apply as stated in paragraph (2) above.
5. Where the tenant fails, neglects or refuses to pay the penalty fees, the corresponding amount shall be deducted from the Security Deposit paid at the commencement of the contract.

 

Shelter Mart will, as part of its eviction process, report all outstanding sums owed to the registered credit bureau in Nigeria, and shall, in addition, report the default to the tenant’s guarantor and employer and shall blacklist the tenant from letting any property on the Platform in the future.

YOUR RENT COVERS

• An annual rent (payment plan as stated in the tenancy agreement)
• Service charges (If property is fully or semi serviced, services and terms as stated in tenancy agreement)

 

YOUR RENT DOES NOT COVER

• Monthly Electricity Charges
• Service Charges (If property is self-serviced as stated on tenancy agreement)
• Anything not mentioned in the “Your Rent Covers” section and not covered in the “Tenancy Agreement

 

GENERAL

All non-structural issues discovered later than 7 days after the Move-in date in a self-serviced demised property shall be borne by the Occupier.

Any declaration by the Occupant to any of the aforementioned conditions should be backed by evidence and supporting documents and forwarded to Shelter Mart as soon as possible. Shelter Mart reserves the right to verify all documents submitted before claims are made

PET POLICY

Sheltermart operate Non-Pet-Friendly properties