Tenantify charges one fee, on top of rent: 3% of each payment, capped at ₦50,000 per period. Your landlord still receives the full rent amount; the fee is added to your total at checkout. This page explains what you pay, why we charge it, and what the cap means at common Lagos rent levels.
What you pay
For every rent payment, service charge, deposit, or fund contribution made through Tenantify:
- 3% of the base amount, added on top.
- Capped at ₦50,000 per period. If 3% of your payment would exceed ₦50,000, you pay ₦50,000 instead.
- The fee appears as a separate line on every receipt, labelled Platform Fee (3%).
Your landlord is configured to receive 100% of the rent amount you both agreed. You pay rent + platform fee; Paystack splits the transaction at the bank level so the landlord’s portion lands in their account directly.
Why we charge it
The 3% covers two things, bundled into one line so your receipt stays simple:
- Paystack’s card-processing fee. Paystack charges 1.5% + ₦100 per transaction (capped at ₦2,000). On most rent payments, Paystack’s share alone is close to half of what you pay.
- Tenantify’s platform. Receipt generation, escrow handling, payment reminders, dispute resolution, and the lease-tracking infrastructure that lets you and your landlord pull up any past payment in seconds.
We bundle the two into a single percentage so your receipt has one fee line instead of two, and so the number you see at checkout matches what you owe. No surprise gateway fees added downstream.
What the cap means for you
The cap binds when 3% of one payment would exceed ₦50,000. In practice, this happens for annual upfront payments on rents at or above ₦1,666,667. Monthly and quarterly payments rarely hit the cap because each period’s amount is smaller.
Worked examples across common Lagos rent tiers:
| Annual rent | Fee without cap (3%) | Fee with cap | What you save |
|---|---|---|---|
| ₦1,000,000 | ₦30,000 | ₦30,000 | ₦0 (cap doesn’t bind) |
| ₦1,666,667 | ₦50,000 | ₦50,000 | ₦0 (cap just binds) |
| ₦3,000,000 | ₦90,000 | ₦50,000 | ₦40,000 |
| ₦5,000,000 | ₦150,000 | ₦50,000 | ₦100,000 |
| ₦10,000,000 | ₦300,000 | ₦50,000 | ₦250,000 |
Two things to note:
- Per period, not per year. If you pay your ₦3M rent monthly, each month is ₦250,000 and 3% of that is ₦7,500, well below ₦50,000, so the cap doesn’t bind. The cap mainly helps tenants paying annually upfront on higher rents.
- Service charges, deposits, and fund contributions follow the same rule. A ₦200,000 monthly service charge is ₦6,000 in fees. A ₦500,000 security deposit is ₦15,000. The cap is per transaction, so it applies to each separately.
What you don’t pay
- No signup fee. Accepting your tenant invite is free.
- No monthly subscription. Tenantify doesn’t bill you for using the dashboard, downloading receipts, or messaging your landlord.
- No per-payment surcharge. The 3% (capped at ₦50,000) is the only fee. No additional Tenantify charges on top.
- No fees on refunds. If a security deposit is refunded, the original platform fee is not re-charged on the refund.
If something looks off
Receipt shows a fee higher than ₦50,000. Open the receipt and check whether more than one payment ran in the same transaction (e.g. first-payment bundle of rent + deposit). Each payment’s fee is capped separately, so the total across bundled payments can exceed ₦50,000.
Auto-pay charged me an unexpected amount. Open Settings → Payment and review the next-charge preview. It shows the exact base amount plus the capped fee. If the number doesn’t match what you expected, your landlord may have changed the rent or service charge recently.
You think you were over-charged. Tenantify reconciles every payment against the canonical fee calculation. If your receipt shows a fee that doesn’t match base × 3% (or ₦50,000, whichever is lower), email [email protected] with the Paystack reference and we will investigate.
What’s next
- Paying your first rent — the end-to-end walkthrough of a single payment.
- Setting up auto-pay — automate the next charge so you never miss a due date.
- Downloading receipts — keep your records for the 2025 rent-relief filing.