General Property Letting Terms

SHELTER MART GENERAL PROPERTY LETTING TERMS

This document contains Shelter Mart’s general property letting terms and applies to all eligible tenants. A personalised property engagement agreement will be prepared between Sheltermart and a prospective occupant, including the general terms and specific terms that characterise the property a tenant reserves for their occupation.

RENT CONFIRMATION BY SHELTER MART

A prospective tenant/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, Sheltermart shall confirm the letting of the property as reserved by the prospective tenant/lessee. No person other than Shelter Mart 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 to 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 Shelter Mart, 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 Shelter Mart. 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 Shelter Mart 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 or managed by Shelter Mart in the future.

YOUR RENT COVERS

• An annual rent and associated service charges

1	Annual Rent First Floor, Flat 5	N1,2500, 000.00
2	Annual Security Guard Fee	N100, 000.00
3	Annual Cleaning & Waste Disposal	N100, 000.00
4	Annual Water Supply	N100, 000.00
5	Agency Fee	N00, 000.00
6	Legal	N120, 000.00	Preparation of Tenancy Agreement
7	Caution Fee	N100, 000.00	Refundable caution deposit against damages
8	Total Sum	N1,770, 000,000.00

 

• Service charges (If property is fully or semi serviced, and services and terms as stated in tenancy agreement)

Your rent does not cover

• Electricity Charges
• 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

PROHIBITED ITEMS & ACTIVITIES WITHIN THE PROPERTY

To preserve the safety, security, comfort, and prestige of this Property, the following items and activities are strictly prohibited within all apartment units, balconies, parking areas, and common areas.

1. Illegal Substances & Criminal Activities

1.1 Possession, use, storage, distribution, or manufacture of illegal drugs or controlled substances.

1.2 Possession of drug paraphernalia.

1.3 Any criminal activity conducted on the premises.

1.4 Use of the premises for fraudulent, cybercrime, or unlawful operations.

Violation may result in immediate termination of tenancy and reporting to the relevant government authorities.

2. Smoking & Open Flames

2.1 Smoking of cigarettes, cigars, pipes, shisha, hookah, cannabis, vaping devices, and similar products within apartment units, balconies, corridors, staircases, parking areas, and all common areas.

2.2 Burning of incense, candles, charcoal, or any open-flame device without prior written approval.

3. Weapons & Hazardous Materials

3.1 Firearms, ammunition, explosives, fireworks, and prohibited weapons.

3.2 Storage of petrol, kerosene, gas cylinders (outside approved installations), or other flammable or hazardous chemicals.

3.3 Any item that poses a fire, explosion, or safety risk to residents.

4. Noise, Parties & Disturbances

4.1 Loud music, amplified sound systems, DJs, live bands, or excessive noise at any time.

4.2 Parties, gatherings, or events exceeding the approved guest limit without prior written approval from Management.

4.3 Noise beyond designated quiet hours (10:00 PM – 7:00 AM).

4.4 Any conduct that disturbs the peaceful enjoyment of other residents.

5. Unauthorised Commercial Activities

5.1 Operating a business, short-let service, event hosting service, studio, or commercial enterprise from the apartment without written approval.

5.2 Use of the premises for religious gatherings, political meetings, or public assemblies without authorisation.

5.3 Advertising signage, banners, or promotional materials displayed from balconies or windows.

6. Pets & Animals NOT Allowed

6.1 Keeping pets or animals without written approval from Management.

6.2 Keeping dangerous breeds, exotic animals, or livestock.

7. Alterations & Structural Modifications

7.1 Structural modifications, drilling, demolition, electrical rewiring, plumbing changes, or installation of heavy fixtures without written consent.

7.2 Installation of satellite dishes, external antennas, or exterior-facing equipment.

7.3 Painting or redesigning exterior-facing surfaces.

8. Misuse of Common Areas

8.1 Blocking balconies, staircases, and car park areas

8.2 Storage of personal items in corridors or shared spaces.

8.3 Damaging, defacing, or misusing lobby or car park areas.

8.4 Hanging laundry or displaying items from balconies visible from the exterior.

9. Visitors & Occupancy Violations

9.1 Subletting, Airbnb-style letting, or assignment of tenancy without written approval.

9.2 Exceeding approved occupancy limits.

9.3 Harbouring unauthorised long-term guests without notification.

10. Waste & Environmental Violations

10.1 Improper disposal of waste.

10.2 Dumping of hazardous materials into drains or common waste systems.

10.3 Littering within the premises.

Enforcement

Violation of any of the above provisions may result in:

• Written warnings
• Monetary penalties
• Forfeiture of security deposit
• Disconnection of access privileges
• Immediate termination of tenancy
• Reporting to appropriate authorities where applicable

LATE PAYMENT, DEFAULT & ENFORCEMENT CLAUSE

1. Rent Due Date

1.1 Rent shall be paid in full, on or before the due date each year.
1.2 Rent shall be paid without demand, reminder, or notice from Shelter Mart.

2. Limited Grace Period

2.1 A grace period of seven (7) days only shall apply.
2.2 Any payment not received in full by 11:59 PM on the seventh day shall automatically be deemed late.

3. Late Payment Charges

3.1 A late payment fee of Ten Per cent of the overdue rent shall apply immediately upon default.

3.2 In addition, interest shall accrue on the outstanding balance at the prevailing interest rate per month (or part thereof) until full settlement.

3.3 All late fees and accrued interest shall be treated as additional rent, recoverable as rent in arrears.

4. Persistent Default

4.1 Two (2) late payments within any 12 months shall constitute a material breach of this Agreement.

4.2 Upon the third occurrence, Shelter Mart shall be entitled to:

• Issue statutory notice of default
• Withdraw any previously granted grace period
• Demand immediate payment of the balance of the tenancy term
• Commence recovery proceedings in accordance with Nigerian law

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

5. Recovery Costs

The Tenant shall be liable for:

• Legal fees
• Court filing costs
• Debt recovery agency fees
• Administrative enforcement costs

All such sums shall be treated as additional rent.

Where the tenant fails, neglects or refuses to pay the penalty fees, the corresponding amount shall be deducted from the Security Deposit [if sufficient]  paid at the commencement of the contract.

6. No Waiver

Acceptance of late or partial payment shall not waive Shelter Mart’s right to enforce strict compliance in the future.

PROPERTY, FIXTURES & FITTINGS PROTECTION CLAUSE

1. Absolute Duty of Preservation

1.1 The Tenant accepts the Premises in excellent condition and undertakes to maintain, preserve, and safeguard the Premises, fixtures, fittings, equipment, finishes, and installations in the same condition throughout the tenancy, subject only to reasonable fair wear and tear.

1.2 The Tenant shall be fully responsible for any deterioration, destruction, damage, or loss occurring during the tenancy, except where directly caused by structural failure not attributable to the Tenant.

2. Strict Liability for Occupants & Invitees

2.1 The Tenant shall be strictly liable for damage caused by:

• Family members
• Guests or visitors
• Domestic staff
• Contractors or vendors engaged by the Tenant
• Any person granted access by the Tenant

2.2 Such liability shall apply regardless of whether the damage was intentional, negligent, accidental, or reckless.

3. Comprehensive Coverage of Protected Property

This clause applies to, but is not limited to:

• Structural walls and partitions
• Marble, granite, porcelain, hardwood, or engineered flooring
• Doors, locks, access cards, biometric systems
• Glass panels, sliding doors, balcony railings
• Kitchen fittings, stone countertops, cabinetry
• Plumbing systems, sanitary wares, concealed piping
• Electrical systems, switchgear, lighting fixtures
• Air-conditioning units (including compressors)
• Smart-home systems and integrated automation
• Water heaters, pumps, pressure systems
• Built-in appliances
• False ceilings, POP finishes, decorative elements
• Generator-backed power systems within the unit

4. Zero Tolerance for Unauthorised Alterations

4.1 The Tenant shall not:

• Drill, cut, puncture, or modify walls or ceilings
• Alter electrical, plumbing, mechanical, or structural systems
• Replace fittings without the written approval of the property manager
• Install satellite dishes, CCTV, networking systems, or heavy fixtures without consent

4.2 Any unauthorised alteration shall:

• Be removed immediately at the Tenant’s cost;
• Require full restoration to the original property standard;
• Attract a restoration supervision fee of 10% of the repair cost.

5. Immediate Reporting & Consequential Damage

5.1 The Tenant shall report any defect, leakage, electrical fault, or malfunction within 12 hours of discovery.

5.2 Failure to report promptly shall render the Tenant liable for:

• All consequential and secondary damage
• Mould remediation
• Structural damp repairs
• Electrical replacement costs

6. Repair, Replacement & Cost Recovery

6.1 The Property Manager shall have exclusive authority to determine:

• Whether repair or replacement is required;
• The contractor to execute such work;
• The quality standard for restoration.

6.2 The Tenant shall bear the full replacement cost at current market value, including:

• Labour
• Material
• Procurement logistics
• Supervision charges
• Administrative fees

6.3 All such costs shall be payable within seven (7) days of demand.

9. End-of-Term Restoration Standard

9.1 Upon termination, the Premises must be returned in original developer-delivered condition.

9.2 The Property Manager may conduct a professional inspection.

9.3 Any restoration shall be completed before handover or deducted from the Security Deposit, if sufficient.

9.4 If restoration exceeds the deposit, the Tenant shall remain fully liable for the outstanding balance.

10. Security Deposit Enforcement

10.1 The Property Manager may deduct from the Security Deposit:

• Repair costs
• Replacement value
• Cleaning and repainting
• Damage to common areas attributable to Tenant

10.2 The Security Deposit shall not limit the Tenant’s total liability.

11. Access for Inspection

The Property Manager may inspect the Premises with reasonable notice to ensure compliance with this clause.