Nigeria - Business creation project

Describe your project or startup in a few words

A mobile app, Altlets, for Nigerian landlords to list/manage rental properties and for tenants to browse/rent apartments. Features include flexible tenancy, secure payments, AI recommendations, and blockchain transparency.

01.01 Describe your project in more detail

Altlets - Find Your Perfect Place, is a mobile app aimed to streamline the property rental process in Nigeria. Landlords can easily list and manage properties with photos, videos, and detailed descriptions. Tenants can use advanced search filters, interactive maps, and virtual tours to find properties that meet their needs. Key features include flexible tenancy periods, secure payment systems, AI-powered recommendations, and blockchain-based rental agreements. The app also offers maintenance reporting, legal resources, and comprehensive tenant screening. Altlets addresses issues of trust, convenience, and security in the Nigerian rental market while promoting sustainable living and gender equality.

01.02 What is the main problem you are trying to solve?

The main problem Altlets, Inc. aims to solve is the lack of transparency, convenience, and security mostly created by third parties in the Nigerian property rental market. Current systems are often fragmented, inefficient, and prone to fraud. Landlords struggle with managing listings, tenant screening, and payment collection, while tenants face challenges in finding suitable properties, verifying landlords, and navigating rental agreements. Altlets provides a comprehensive solution with secure transactions, transparent rental agreements, and advanced search and listing features. The app also addresses the need for flexible tenancy options, catering to various rental durations from short-term stays to long-term leases.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

1. Transparency and Trust: Blockchain technology ensures secure and transparent rental agreements, building trust between landlords and tenants. 2. Convenience and Flexibility: Features like flexible tenancy periods, in-app messaging, and secure payment systems streamline the rental process for both parties. 3. Market Insights and Recommendations: AI-powered recommendations help tenants find suitable properties quickly, and predictive analytics provide landlords with optimal pricing strategies.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

Altlets, Inc. is aimed at serving both landlords and tenants in Nigeria. Landlords benefit from an easy-to-use platform to list and manage properties, screen tenants, and collect payments securely. Tenants benefit from advanced search filters, virtual tours, and flexible rental options, making it easier to find and secure suitable housing. The app also serves business travelers, tourists, students, and temporary residents by providing flexible rental durations. Additionally, the app supports local service providers by integrating maintenance and repair services, creating a comprehensive ecosystem for property rentals.

01.05 When did you start working on your project?

2023-08-29

01.06 How many other partners are associated with your business venture?

1

01.07 Among the other partners, how many are female?

1

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

Joy Okolocha, Co-founder, the Financial Lead and Business Development Manager is an accomplished accountant with extensive experience in financial management, strategic planning, and client relations. She holds a degree in Accounting and has worked in various finance roles, where she developed a keen eye for detail and a strong understanding of financial principles. Joy’s expertise includes budgeting, financial analysis, and risk management, making her an invaluable asset to Altlets, Inc. In addition to her accounting skills, Joy excels in business development and client management. She has a proven track record of identifying and securing business opportunities, negotiating contracts, and maintaining strong relationships with clients. Her ability to understand and address client needs will ensure that Altlets meets the expectations of both landlords and tenants.

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

https://www.linkedin.com/company/altlets/

01.10 Which industry best describes your project?

k) Property (real estate)

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

Affordable housing options and flexible rental terms can help reduce homelessness and provide economic stability.

02.02.01 My project contributes to the Zero hunger goal

2

02.02.02 Zero hunger - Justification

02.03.01 My project contributes to the Good health and well-being goal

2

02.03.02 Good health and well-being - Justification

02.04.01 My project contributes to the Quality education goal

2

02.04.02 Quality education - Justification

02.05.01 My project contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification

Altlets aim to promote gender equality through female leadership and creating opportunities for women in property management.

02.06.01 My project contributes to the Clean water and sanitation goal

2

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

2

02.07.02 Affordable and clean energy - Justification

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

We aim to create jobs in property management, tech development, and local service providers.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

Altlets aim to leverage AI and blockchain for innovative solutions in the rental market.

02.10.01 My project contributes to the Reduced inequalities goal

2

02.10.02 Reduced inequalities - Justification

02.11.01 My project contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification

Our technology will enhance urban living through efficient property management and promoting sustainable living practices.

02.12.01 My project contributes to the Responsible consumption and production goal

2

02.12.02 Responsible consumption and production - Justification

02.13.01 My project contributes to the Climate action goal

2

02.13.02 Climate action - Justification

02.14.01 My project contributes to the Life below water goal

2

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

2

02.15.02 Life on land - Justification

02.16.01 My project contributes to the Peace justice and strong institutions goal

2

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

2

02.17.02 Partnerships for the goal - Justification

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

2

05.02 The product/service we envision creating represents an entirely new type of product/service.

7 - Strongly Agree

05.03 The product/service we envision creating could be described as a new technology.

7 - Strongly Agree

05.04 The product/service we envision creating is an improvement on an existing product or service.

1 - Strongly Disagree

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

3

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

05.07 The product/service we envision creating is a new version of an old product/service.

2

05.08 Justification

Altlets, Inc. responds to a significant unmet demand in the Nigerian property rental market. Current rental processes are inefficient, fragmented, and prone to fraud. Existing solutions do not provide the comprehensive features needed to address these issues, such as flexible tenancy periods, secure payments, and transparent rental agreements. Altlets fills this gap by offering an integrated platform that simplifies property management for landlords and enhances the renting experience for tenants. The app’s innovative use of AI for property recommendations and blockchain for secure transactions further distinguishes it from other services, meeting the specific needs of the Nigerian market.

05.09 Who are your main potential competitors and what makes you stand out from them?

competitors include propertypro.ng, PrivateProperty.com.ng, and Rent.SmallSmall.com. Here is how we stand out: 1. Flexible Tenancy Periods: A highly customizable lease terms, catering to diverse user needs, from tourists and business travelers to students and long-term residents. 2. AI-Powered Recommendations: Advanced AI algorithms provides personalized property suggestions and market insights, enhancing the user experience by making property searches efficient and relevant. 3. Blockchain Technology: For secure and transparent rental agreements to ensure a high level of trust and setting us apart in terms of security and reliability. 4. Comprehensive Services: Altlets combines property listings with tenant screening, secure payment systems, maintenance reporting, and legal resources. 5. Focus on Sustainability and Gender Equality: We commit to promoting sustainable living practices and supporting gender equality through female leadership and empowerment initiatives.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

Our brand is going to be known for actively promoting the role of female entrepreneurs by ensuring equal representation in leadership roles. We will be offering training programs for women in property management. We collaborate with women-led businesses and provide resources to support female landlords in managing their properties effectively. By highlighting success stories of female entrepreneurs on our platform, we aim to inspire and empower more women to enter the property rental market.