Terms of Service

These Terms of Service ("Terms") govern your access to and use of the website, application process, and rent financing services provided by Chakkam Rent Ltd ("ChakkamRent", "we", "our", or "us"). By applying for or using our services, you agree to be bound by these Terms.

1. Description of Service

ChakkamRent provides a rent financing service that allows approved tenants to pay a percentage of their annual rent upfront as a deposit, with ChakkamRent financing the remaining balance plus an applicable service fee. The financed amount is repaid by the tenant in monthly instalments over an agreed repayment period.

Specific plan terms, including deposit percentage, service fee, repayment period, and monthly instalment amount, are presented to each applicant during the application process and confirmed upon approval.

2. Eligibility

To apply for and use our services, you must:

• Be at least 20 years of age
• Provide accurate, current, and complete information during the application process
• Have the legal capacity to enter into a binding financial agreement
• Reside in, or be seeking accommodation in, Nigeria

3. Application and Approval

Submitting an application does not guarantee approval. ChakkamRent reserves the right, at its sole discretion, to approve or decline any application based on the information provided, verification checks, and internal eligibility criteria. We may request additional documentation or clarification at any stage of the application process.

Approval is not final until the required deposit has been received and all onboarding steps, including submission of landlord and guarantor information, have been completed and verified.

4. Payment Obligations

Once your plan is active, you are responsible for making your monthly instalment payments on or before the agreed due date each month. Payments can be made through the methods made available on your tenant dashboard.

A late fee of ₦1,000 per day applies to any instalment not paid by the 6th day of the month in which it falls due, calculated from the due date until the date payment is received in full. Late fees are added to the outstanding balance and must be paid alongside the instalment.

Failure to make payments as agreed may result in additional collection efforts, reporting to relevant authorities where applicable, and other remedies available to ChakkamRent under Nigerian law.

5. Your Responsibilities

As a user of our services, you agree to:

• Provide truthful and accurate information at all times
• Keep your account credentials confidential and secure
• Notify us promptly of any change in your circumstances that may affect your ability to meet your obligations
• Use the service only for its intended purpose of rent financing
• Comply with the terms of your tenancy agreement with your landlord

6. Account Suspension and Termination

We reserve the right to suspend or terminate your access to our services if you breach these Terms, provide false information, fail to meet your payment obligations, or engage in fraudulent or unlawful activity. Termination of your account does not relieve you of any outstanding financial obligations owed to ChakkamRent.

7. Intellectual Property

All content, branding, trademarks, and technology associated with ChakkamRent and this website are the property of Chakkam Rent Ltd and may not be copied, reproduced, or used without our prior written consent.

8. Limitation of Liability

ChakkamRent provides its services on an "as is" basis. To the fullest extent permitted by law, we shall not be liable for any indirect, incidental, or consequential damages arising from your use of our services, including but not limited to disputes with landlords, delays in payment processing outside our control, or reliance on information provided by third parties during the application process.

9. Changes to These Terms

We may update these Terms from time to time to reflect changes in our services or legal requirements. Continued use of our services after any such changes constitutes your acceptance of the revised Terms.

10. Governing Law

These Terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any disputes arising from these Terms or your use of our services shall be subject to the exclusive jurisdiction of the courts of Nigeria.

11. Contact Information

For questions about these Terms, please contact:

Chakkam Rent Ltd
No. 2 Jolex Plaza, by Double Dollar Junction, Jos North, Plateau State, Nigeria
Email: chakkamrent@gmail.com
Phone: 09050594188