What is a Short Let?
A short let is any property that is rented out for a specified period of time. Just as the name implies, it is usually let out for a short period of time which could range from weeks to months. It could include self-con rooms, two-bedroom or three-bedroom apartments, bungalows, and even duplexes.
Investing in a short-let apartment guarantees a consistent income from owned properties with the privilege to sell if need be. 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.
Let us delve into the benefits of owning a short let home in Nigeria. Property owners can make money without limits from short lets. There is a regular demand for it as there would always be business travelers in need of an affordable and comfortable place to stay while they are away from home. Short lets give property owners the opportunity of having an alternative source of income when they are not in the country or in the city for a period of time.
They can let out their apartment temporarily and make money from it until they return. 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 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.
Short lets allow flexibility as the owner can decide how long he wants the tenants to occupy the property. Starting a short let business is a good investment opportunity for people looking to earn extra income from their property. It is a real estate investment plan that enables you to earn massive profit by investing in a real estate property, developing it, and letting it out for short periods of time.