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Kenya’s RentHero launches to revolutionize rent collection and payments

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RentHero, a new bill management and rental payment platform has launched to provide a secure payment platform to help landlords and tenants to receive, pay and keep track of rental and tenancy related transactions online.

Founded by a team of three entrepreneurs led by Ronald Ngoda, Rent Hero seeks to revolutionize the way property owners and managers collect, manage and store tenancy related transaction records.

“We are in an era where data is the most powerful tool for making business decisions, the way we store, organize, access and analyze data really matters. Most property owners and managers don’t keep their data properly,” Ronald told TechMoran.

There is a lot of paperwork that goes with being a landlord or property manager or agent. Left unchecked, the paperwork can build up and become quite a burden. Rent Hero lifts the burden from the landlords or property managers. All transactions are recorded and made available online instantly.

The platform allows landlords can keep track of rent payments, view payment history, generate bulk rent invoices for all tenants at a click of a button, and send periodic SMS reminders to tenants with rent/utility balances.

Tenants pay rent online via MPESA, Eazzy pay, PayPal, credit card and Airtel money hence there is no need to record payment details manually.

A major cause of friction between tenants and landlords is late payment of rent or non-payment of rent for months. Lack of a proper mechanism to collect, manage and monitor rent collections contributes to the nightmare landlords’ face.

Rent Hero brings a smart solution to enable tenants to pay rent online, receive periodic SMS reminders to pay rent and rent invoices sent straight to their mobile phones. This helps tenants keep track of their rent payments and bills.

“Rent Hero is different from other players in the market in the sense that we provide a centralized e-wallet that aggregates all landlords’ funds from different sources in one place, making it easy to manage and add transparency,” said Ronald. “This makes us a reliable online rent payment service that offers landlords an easy way to collect rent, saves time in collection and gets them access to their money faster. Landlords can withdraw funds from their e-wallet to MPESA or Bank account at any time.”

Summary of how rent hero works for:

Landlords/property managers.

Create An Account

Add Locations

Add Property Units

Add Tenants

Generate Rent Invoices

Start Receiving Rent Payments Online in your e-wallet

Track Payments Online

Send Payment Reminders

Withdraw Cash To Bank Or MPESA

Buy Airtime For Any Number

Transfer Cash To Other Users On The System

View Payment History for all tenants

Add Utility Types

Add utility Bills for tenants

Track utility payments

View Summary Reports

Free applicant screening with background and credit checks.
Tenants

Create an account

View Rent/Utility Invoices

Pay rent on the go from anywhere

Print payment receipts

View Payment history

Receive SMS invoices

Receive payment reminders via SMS

Engage With Landlord Directly From Our System.

One of the fastest-growing trends in the Kenyan market today is the ability to accept payments online. With the rapid growth in the number of online transactions and purchases, tenants expect an automated cashless payment system such as what is implemented in our rent management software. No more queues at the bank to pay rent or carrying cash to the landlord. Landlords can now have a sigh of relief and spend less time chasing tenants to pay rent, improve service delivery and retain more tenants.

Rent Hero charges 5% of all rent payments done through the system, this goes to sustain the business and improve service delivery. We are currently having 10+ happy clients using our smart solution to collect, track and manage rent records on our system and hundreds of monthly rent transactions done per month by tenants.

“We offer free 60 days evaluation period to all clients who sign up, this gives them the ability to test, explore and evaluate our software service before they start paying,” Ronald concludes.

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