How To Setup A Short Let Business And Earn Huge Daily And Monthly Income

Before now, short stay homes are mainly used by tourist traveling to part of the country where you hardly find a hotel but since the past two years the narratives has changed. Today, operators of short stay homes are giving hotel operators a serious competition for lodgers.

A well run short stay facility provides the clients with luxury at a very affordable price compared to what they can get at a hotel with similar facilities. Considering the resent high demands for short stay homes in major cities like Lagos, Abuja and Port-Harcourt, short stay home is gradually becoming the next big thing and any investor with eyes for real estate should key in.

Currently, short stay apartments in Lagos, Abuja and Port-Harcourt are operating at a 76% to 97% occupancy rate depending on how well managed and the marketing effort done. Returning clients also make up a reasonable amount of the monthly figure. This figure will definitely go up giving that countries are gradually lifting restrictions to in coming/out-going  travelers and tourists.

WHY INVEST IN A SHORT STAY HOME.

Some of the reasons why any smart investor with eyes for real estate should have a shot stay property as one of the investments in his or her investment portfolio are but not limited to the following.

– Capital appreciation of the property.

– Earn between 20% to 35% annual yield.

– Assured regular income.

– More that 400% more returns when compared to a regular rental income less overhead.

– The feel of playing in the hospitality business.

–  A 5year to 6years payback period of the investment.

HOW BIG IS THE MARKET?

The market is very big given that there are little or no restrictions as to what a lodger can use the facility for. Some of the usages are as follow.

·        Vacation.

·        Domestic Tourism.

·        Business Retreat.

·        Get together.

·        Marriage Proposal.

·        Advert/Movie filming.

·        Bridal Showers.

·        Photo-shoots.

And so much more.

Considering the level of return on short stay properties the investor can easily re-evaluate and refinance it thereby raise funds for other business.

ARE YOU LOOKING AT INVESTING IN A SHORT STAY PROPERTY?

IF YES, THEN LETS GET STARTED.

1-     Purchase a suitable property recommended by your realtor. Some locations to consider in Lagos are; Surulere, Yaba, Ikeja, Oniru, Lekki Phase1, Ikate, VI.

2-     Furnish the property/apartment to a required standard considering the fact that you are competing with the best hotels within your location. Some of the things the property/apartment should have are; 24/7 Electricity, 24/7 Security, Clean Towels & Bed sheets, Access to internet, DSTV subscription, Fully fitted kitchen with utensils, Refrigerator with complimentary tea/coffee and snacks in it.

3-     Investor contacts a consultant to manage and run the facility/ies on his or her behalf. Also agree on the running cost and the consultant’s agency fee.

4-     The consultants put words out to the public with respect to the existence of the short stay facility via their marketing activities and online channels.

Once all these have been done, relax and begin to earn a high reoccurring income on a monthly basis.

For great property offers that you can convert into a short stay investment please contact us via (Call, WhatsApp, DM) or check our property listings at Bricks & Clay Properties.