₦airaland Forum

Pls sir, a little insight on the lease price will help. following...

Kaodiri15:
Pls sir, a little insight on the lease price will help.
following...

Let me share a Real Estate Price list received from an Estate Agent. Use it as a guide to long lease prices in Lagos.

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.

mrsage:
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.

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

Nigerians hardly share their trade/business secrets online. You are a rare individual.

Following

ecolime:
Nigerians hardly share their trade/business secrets online. You are a rare individual.

Following

You welcome.

Next update is by 7pm tonight

Sorry I'm late tonight. I got caught up in the TGIF happy mood.

Lets dive straight to business

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.

ecolime:
Nigerians hardly share their trade/business secrets online. You are a rare individual.

Following

Very rare

MrSage yes solar, what's happens during raining season when there is little or no sunlight?

SMJay:
MrSage yes solar, what's happens during raining season when there is little or no sunlight?

Solar panels do not need extremely bright sunlight to charge. Combine Solar and PHCN you should be fine.

Electricity is very important in a short let apartment.

No client will book an apartment without constant electricity.

Solar Installation pictures

Good morning

mrsage:
Solar panels do not need extremely bright sunlight to charge. Combine Solar and PHCN you should be fine.

If it's not China, Yes!!

SMJay:
If it's not China, Yes!!

Absolutely correct...

I'm not getting the vibe from my Nairaland people.

mrsage:
I'm not getting the vibe from my Nairaland people.

Still following

mrsage:
I'm not getting the vibe from my Nairaland people.

It's a totally new concept to them and to be honest, most Nairalanders can't really afford a shortlet.

One great post on Nairaland thumbs up

What business can one do on a land aside farming?

mrsage:
I'm not getting the vibe from my Nairaland people.

Following Tinubucally .

To be continued by 7pm tomorrow...

Hamachi:
What business can one do on a land aside farming?

In the world of real estate, its all about Location.

Where is the location?

Residential area?
Commercial area?
Rural area?

4godsake:
Following Tinubucally .

This is seriously serious o

Veryfied:
It's a totally new concept to them and to be honest, most Nairalanders can't really afford a shortlet.

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.

Following op.Thanks for showing the way to some of us here!

mrsage:
In the world of real estate, its all about Location.

Where is the location?

Residential area?
Commercial area?
Rural area?

Delta
Residential

Hamachi:
Delta
Residential

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

mrsage:
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.

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?

Veryfied:
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?

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.

Veryfied:
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?

Boss! See don't underate NL

mrsage:
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.


L[b]ease to GSM or other telecoms companies[/b]

Private cemetery business.

And many more

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