Frequently Asked Questions

General

Renmo is a free, secure, and convenient platform that allows Ghanaians to pay MONTHLY for their rental homes.

Renmo works in two ways:

  • You find your own rental unit and then let us know about it. Renmo will then partner with your future landlord to either pre-finance or negotiate with that landlord, allowing you to pay MONTHLY.
  • You browse listings on our website and select your preferred rental unit

NO. Renmo requires PROOF of regular & sustainable flow of income. Anyone who can provide that proof is a potential Renmo customer. Your monthly net income should be at least 2.5 times the monthly rent.

NO. It is free to sign-up on our website to browse available houses and financing options.

PROPERTIES

NO. Renmo does not own the houses. We only facilitate monthly rent payments.

Yes. You can come with your own property and Renmo will provide funding.

RENT

NO. We do not charge any ‘viewing’ or agency fee. (Report any listing that demands agency fee)

You pay the monthly rent through Renmo’s website or Mobile App (coming soon) using either your mobile money or bank account. It is a simple process.

We charge a premium of between 9.9% -19.9% per annum. Example: If your total rent for the year is GHS 1,200 (meaning your monthly rent is GHS 100), you will pay premium between GHS GHS 9.9 and GHS 19.9 on your monthly rent.

It depends on what the landlord agrees to provide and the length of stay of tenanT. Renmo negotiates with landlords to give both discounts and flexible payment options. When we succeed, you pay less premium. If a landlord does not give a discount or any flexible payment option, the tenant pays the full 19% per annum premium.

NO. We do not require any collateral from the tenant.

YES. We require all our tenants to pay ONE month's rent as a security deposit. This deposit will be used to cover your last month's (LM) rent. For example: If a tenant is expected to pay GHS 119 monthly rent from January to December, then, the tenant will deposit GHS 119 that will effectively be used to cover his/her rent for December. So in December, the tenant pays no rent at all.

Yes, Renmo's security deposit (LM Deposit) is different from what a landlord may require. Some landlords require tenants to pay a 'Maintenance Fee' that is used to cover any damages. This maintenance deposit requirement from the landlord is different from what Renmo takes to cover your last month's rent.

Renmo charges a one-time fixed fee of GHS 99 to verify all the information you provide. However, Renmo waives or refunds this fee to the tenant if the tenant invites THREE people to sign-up (sign-ups are free) on either the website or mobile app (coming soon). (This verification fee is only due when your application is approved, pending verification your information).

Still need help? Reach out to us.

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