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Rent Advance Payment Scheme (RAPS)
This scheme offers prospective tenants the opportunity to pay their rents on a monthly basis instead of the rent for longer periods demanded by landlords. The uniqueness of the product lies in the reprieve it gives prospective tenants over the burdensome issue of huge rent advances in the prevailing real estate market.
Low-income earners, as well as newly employed personnel, are bedevilled with the daunting task of sourcing huge sums of money to pay rent advances to landlords before securing accommodation. These monies are sometimes procured at very high interest coupled with endless frustration in the search for accommodation. Unlucky prospective tenants fall in the hands of the hoodlum and fraudsters and end up losing the money.