The benefits of investing in a shortlet apartment cannot be over emphasized as a traveller, there is a very high probability of staying in a short let apartment or hearing about short-let homes in the past. Have you ever wondered how AirBnB became a well-known organization for many international travellers? The answer is quite simple. They had a unique business model that connected homeowners in different cities to individuals and travellers that need a home for a short stay.

Furthermore, as the trend increases, many homeowners and investors in Nigeria are now beginning to see the advantage of owning a short let apartment. Such companies includes but not limited to Shortlet Homes, Reuxville Homes, Let and Lodge Apartments, Thevus Homes, Hamborg Properties etc. While these property rental companies are also meeting short let accommodation rental needs in Nigeria, they are mostly focused on luxury apartment rentals and do not cater to the needs of regular people which are mostly affordable standard apartment rentals.

Investing in a short let apartment guarantees a consistent income from owned properties with the privilege to sell if need be. Now, let us delve into the benefits of owning a short let home in Nigeria.

What are the benefits of investing in Shortlet Apartments in Nigeria? below are some of the benefits;

High-income from Apartment Renters

The most significant benefit of owning a rental property is that the renters provide a direct income stream. There is no limit to how much money one can earn from owning a short let home; depending on the type of apartment being rented out, the season and time of the year, a three-bedroom duplex can fetch the owner as high as N150,000/ day, and that is being modest. A two bedroom bungalow can go for N60-N70k and a one bedroom apartment can go for 30k to 45k depending on the city.

Income from Property Value Growth

There is a massive gain from an increase in the property value over time due to changing demands in the area; even if the property does not undergo any changes, the value may rise significantly over a few years.

Sweat Equity

This entails repainting the home, adding new siding, refinishing the inside, doing some basic landscaping to the yard, and it will add value to the house without high financial cost. Not only will this allow a charge more for rent, but it will also increase the value of the property itself should the investor choose to sell it in the future.

Steady Cash Flow

In major business and relaxation hubs in Nigeria, short let homes tend to house guests regularly since many business owners and families that travel for relaxation or business prefer to stay in a home that gives them privacy and opportunity to make their own food over a cramped hotel room where one is limited to the food served him in a hotel.

Leverage

Like every other property, a short let home offers the owner leverage on tax and bank loans. Investors can still use their home as collateral to get a loan for business or investments while still on rent.

Value Appreciation

There is better value appreciation with a short let apartment; the rental value can quickly serve as capital for other businesses within a short period while turnover increases.

In conclusion, the emergence of short let apartments is changing the trend of hotel bookings in Nigeria. As the economy bites harder among the low-income and middle class, the demand for affordable accommodations keeps rising.

Short let services in Nigeria are a solution intended to meet the need of regular-income folks looking to have comfortable accommodation away from home.

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