Housmata Brings Tech and Transparency to Rentals
For decades, Nigeria’s rental market has been plagued with inefficiencies, fraud, and exploitation, from fake listings and inflated fees to the opaque role of roadside agents. Many tenants pay as much as 50–60% of their rent again in unnecessary charges, while landlords struggle to find reliable tenants and often remain unaware of how much agents pocket. This is the broken system Housmata, a new proptech startup, is on a mission to fix.
Adedolapo, CEO and co-founder of Housmata, and his co-founder have been building together for over seven years. Their journey into real estate technology began in 2023 when they created software for a client in the real estate sector. That experience, combined with their own frustrating encounters searching for apartments, revealed the extent of exploitation in the rental market. At one point, they discovered a ₦1 million apartment where three different agents demanded 10% fees each, plus additional charges for caution and legal agreements. That moment sparked the idea: what if renting could be simplified, transparent, and fair for both landlords and tenants?
In one sentence, Housmata’s mission is clear: to simplify renting for Africa. The startup wants to ensure landlords connect with verified tenants while tenants access secure, transparent, and stress-free rentals.
Housmata’s team identified deep-rooted problems that tenants and landlords face. Fake listings waste money and time, while agents demand inspection charges, multiple commissions, and even invent legal fees. Agents often pocket caution fees meant for property maintenance. Unregulated roadside agents exploit tenants and landlords alike, leaving both sides vulnerable. For landlords, the challenges are equally steep: unreliable tenants, lack of income verification, and ignorance about how much agents charge in their name. These pain points often escalate into legal disputes.
Housmata is cutting out the exploitative middlemen by creating an end-to-end rental ecosystem. Landlords list properties directly for free, and every listing is vetted at the backend by Housmata to eliminate fake postings. Tenants can chat with landlords, schedule inspections, and handle agreements digitally. Through its partnership with fintech company Anchor, Housmata enables in-app wallet payments with anti-money laundering safeguards and full transaction traceability. Tenants can log complaints, and landlords can assign verified artisans for repairs. And when conflicts arise, Housmata partners with a legal firm to mediate disputes.
A tenant visiting Housmata’s platform can search verified listings by location, type, and price, contact landlords directly, schedule inspections, create a wallet, complete verification using NIN, BVN, and employment details, and then pay rent securely. They receive contracts and reminders for rent renewals and can request repairs through the in-app artisans feature. For landlords, the process is equally seamless. After listing their properties, they can verify tenant details, receive payments directly, and enjoy zero listing fees.
Housmata is also building a community beyond landlords and tenants. Verified associates, often students or young professionals, can undergo training to help landlords list properties. Their commissions are paid by Housmata, not landlords. Verified artisans such as plumbers and electricians are vetted, rated, and booked via the platform, with payments held in escrow until jobs are completed.
Beyond rentals, Housmata is rolling out features like rent financing through loan partners, allowing tenants to access rent loans paid directly to landlords and repay monthly. There are also plans for hot listings for high-demand properties. By offering reminders, dispute mediation, and property management tools, Housmata positions itself as more than just a listing site, it’s a full rental management system.
Launched officially in August 2025, Housmata has already listed multiple properties in Ibadan. With zero marketing, they’ve attracted growing interest, tenants eager for listings, and landlords open to exploring a more transparent system. The team is now preparing to expand into Lagos, Abuja, and Port Harcourt.
Housmata’s credibility rests on its partnerships: Property Max Result Limited for industry insights, Swift Legal Chambers for legal compliance and dispute resolution, Anchor for secure payments, and Data Mellon for scaling infrastructure. Building Housmata hasn’t been without hurdles. Payments were a major challenge, with failed bank partnerships slowing progress until Anchor came onboard. The team also discovered that the rental market’s issues ran deeper than expected, forcing them to expand their solution into a holistic platform rather than a simple listing site. The key lesson? Tenants want renting to be as seamless as booking a ride, and Housmata is betting on technology to deliver that simplicity.
Looking ahead, Housmata aims to facilitate 10,000 rentals in five years, expanding across Nigeria and eventually into Africa. Their vision goes beyond rentals, with future possibilities in mortgages and home ownership through partnerships. Nigeria’s rental market is a billion-naira opportunity, and a deeply broken one. By combining transparency, security, and technology, Housmata is not just simplifying rentals but building trust between tenants and landlords. If successful, the name Housmata could become synonymous with easy, stress-free renting in Nigeria.