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Nairaland Forum / Nairaland / General / Business / My Journey Into The Short Let Apartment Business In Lagos. (19247 Views)
My Journey This Morning To A Bush Market. / How To Start And Run A Shortlet Apartment Business In Lagos, Nigeria / Cheap Short-Let apartment Needed In Lagos (2) (3) (4)
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Re: My Journey Into The Short Let Apartment Business In Lagos. by Kaodiri15: 8:15pm On Jun 23, 2022 |
Pls sir, a little insight on the lease price will help.
following... 1 Like |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 8:29pm On Jun 23, 2022 |
Kaodiri15: Let me share a Real Estate Price list received from an Estate Agent. Use it as a guide to long lease prices in Lagos. 4 Likes
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Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 8:37pm On Jun 23, 2022 |
You can secure a long lease for a room self contained ( Studio Flat ) in a fairly decent part of Lagos for as low as 1.8M for 15 years. This is very economical. Lets do the maths. 1,800,000 ÷ 15 = 120,000 So in the real sense you are getting the room at 120 per annum. If you decide to rent to a tenant, rent in the same area as at today is N300,000 per annum. So in 6 years or less you will have recovered your 1.8M. You have 9 years to enjoy pure profits. 10 Likes 1 Share |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 9:00pm On Jun 23, 2022 |
mrsage: If you decide to use this apartment for short let you will surely recover the 1.8M before 6 years. Long lease is the way to go 8 Likes 1 Share |
Re: My Journey Into The Short Let Apartment Business In Lagos. by ecolime(m): 10:20pm On Jun 23, 2022 |
Nigerians hardly share their trade/business secrets online. You are a rare individual. Following 40 Likes 1 Share |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 8:50am On Jun 24, 2022 |
ecolime: You welcome. Next update is by 7pm tonight 5 Likes 1 Share |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 8:37pm On Jun 24, 2022 |
Sorry I'm late tonight. I got caught up in the TGIF happy mood. Lets dive straight to business 4 Likes 1 Share |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 8:56pm On Jun 24, 2022 |
What are the things you must have in your short let apartment? Always remember that a short let apartment must have all the basic items you need in a house. Plus some more. So lets break it down: Apart from the basics always pay attention to some little things. A smart tv is the way to go in 2022. Make sure you get a smart tv. This is 2022 Dstv is not a bad idea too. Chairs are basic as we all know. So yes you need some chairs. An air freshner or diffuser is important. Your place must smell nice at all times. Little things count. Air Conditioning. Kindly install an AC. Nigeria is generally hot. Internet is a good selling point. Provide free Wifi. Washing machines. Dont joke with this. Electricity. I recommend Solar as back up. If you need to save kindly embrace solar as alternative to the usual PHCN or whatever we call them. Make sure all your electrical appliances are energy efficient or have energy saving capacity. With this you do not need a very huge solar system. Ensure your solar system can power the fans, tv and bulbs all through the night. Sunlight should provide power throughout the day time. Note: solar is cheaper on the long run. If you need any assistance I could recommend my solar guy. Hes a Nairalaner as well. A fridge is also important. A reading table or desk In the kitchen; gas cooker and cyliners, blender, pots, plates and other basic kitchen utensils. A water heater should be in the bathroom. Connect directly to Nepa electricity. Little things also count; Waste bin, foot mats, mirror, wall clock, tissue holder in bathroom etc. Mattress should be fully or semi orthopaedic. Don't joke with this. Lights also add some magic to an apartment. You could play around with bulbs. Led bulbs with different colours always look nice. Room colour. White is magical but not compulsory. 16 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by SMJay: 2:54am On Jun 25, 2022 |
ecolime:Very rare 3 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by SMJay: 2:57am On Jun 25, 2022 |
MrSage yes solar, what's happens during raining season when there is little or no sunlight? 1 Like |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 9:09am On Jun 25, 2022 |
SMJay: Solar panels do not need extremely bright sunlight to charge. Combine Solar and PHCN you should be fine. 8 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 10:54am On Jun 25, 2022 |
Electricity is very important in a short let apartment. No client will book an apartment without constant electricity. Solar Installation pictures 9 Likes
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Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 10:24am On Jun 26, 2022 |
Good morning |
Re: My Journey Into The Short Let Apartment Business In Lagos. by SMJay: 3:42pm On Jun 27, 2022 |
mrsage:If it's not China, Yes!! 3 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 7:44pm On Jun 27, 2022 |
SMJay: Absolutely correct... 6 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 7:46pm On Jun 27, 2022 |
I'm not getting the vibe from my Nairaland people. 9 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by ecolime(m): 7:50pm On Jun 27, 2022 |
mrsage:Still following 2 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by Veryfied: 10:41pm On Jun 27, 2022 |
mrsage:It's a totally new concept to them and to be honest, most Nairalanders can't really afford a shortlet. 8 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by utibills(m): 11:58pm On Jun 27, 2022 |
One great post on Nairaland thumbs up 6 Likes 1 Share |
Re: My Journey Into The Short Let Apartment Business In Lagos. by Hamachi(f): 4:15pm On Jun 28, 2022 |
What business can one do on a land aside farming? mrsage: |
Re: My Journey Into The Short Let Apartment Business In Lagos. by 4godsake: 6:54pm On Jun 28, 2022 |
Following Tinubucally . 3 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 10:30pm On Jun 28, 2022 |
To be continued by 7pm tomorrow... |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 10:32pm On Jun 28, 2022 |
Hamachi: In the world of real estate, its all about Location. Where is the location? Residential area? Commercial area? Rural area? 5 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 10:33pm On Jun 28, 2022 |
4godsake: This is seriously serious o 3 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 10:45pm On Jun 28, 2022 |
Veryfied: I get your point. However dont be too sure. The total start up capital for this business is lower than the cost of a tokunbo 2012 Toyota Highlander. The cost of the old Toyota Corolla ( 2006 model produced about 16yrs ago, which will eventually depreciate in value ) is enough to get a long lease in the heart of Lagos. These cars are traded daily here on Nairaland. 6 Likes
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Re: My Journey Into The Short Let Apartment Business In Lagos. by Plus10(m): 11:13pm On Jun 28, 2022 |
Following op.Thanks for showing the way to some of us here! |
Re: My Journey Into The Short Let Apartment Business In Lagos. by Hamachi(f): 12:10am On Jun 29, 2022 |
mrsage:Delta Residential |
Re: My Journey Into The Short Let Apartment Business In Lagos. by mrsage(m): 12:49am On Jun 29, 2022 |
Hamachi: Remember I do not have specific details so some may work and some may not work. Just have an open mind and choose from the list below: Outdoor events centre. Just charge a fee for the space. People who rent will use canopies and the rest is history. Car wash Use it for recreation. Outdoor bar/ sit out spot Outdoor open air cinema Outdoor amusement park for kids. Birthday parties for kids and all. Outdoor gym/ fitness and wellness centre. Paint ball arena. Outdoor game centre Set up a swimming pool business. Convert it to a commercial car park. Lease to GSM or other telecoms companies Private cemetery business. And many more 18 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by Veryfied: 10:39am On Jun 29, 2022 |
mrsage: Yes someone who happens to make a one time purchase of a car for about 2 million which probably won't be replaced for a couple of years might still not be able to afford to spend 50k daily to sleepover in a shortlet apartment for a couple of days. That's like equivalent to the room rates in a 4 star hotel. My question is how many Nairalanders can afford to sleep over in such? 3 Likes 1 Share |
Re: My Journey Into The Short Let Apartment Business In Lagos. by ecolime(m): 12:48pm On Jun 29, 2022 |
Veryfied:Shortlets of Miniflats, 2 BD etc. is usually taken by families that come from abroad or other states for vacations, burial, wedding, etc Group of friends too use it for get together during festive seasons. Fine, it's more expensive when you compare it to 4 star hotels but you get more space, comfort especially when you have kids. It's just like a rrnted apartment. it's like home away from home. The occupants can cook what they want themselves in the kitchen. You do laundry at their convenience and at any time. So much benefits over traditional hotels. For a single adult, it is only reasonable that the individual stick with single room hotels. 17 Likes |
Re: My Journey Into The Short Let Apartment Business In Lagos. by Pojomojo: 1:48pm On Jun 29, 2022 |
Veryfied:Boss! See don't underate NL 6 Likes 3 Shares |
Re: My Journey Into The Short Let Apartment Business In Lagos. by Hamachi(f): 2:01pm On Jun 29, 2022 |
mrsage:Thank you for your response. The bolded is actually what I want, do you have any links, I would really appreciate. The location is Ugbolu, Delta State immediately after Asaba |
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