CategoriesInvestment Real Estate

Advantages of Investing in Short Let Apartments in Nigeria

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.

CategoriesInvestment Real Estate

Investment Possibilities for Low-Income Earners

The need to invest has been widely spread over the years, however, a good number of people still underrate the power of a good investment. To put it in context, the term “investment” is somewhat vague to people who believe they have nothing to do with handling large sums of money. A good number of people are not financially literate enough to know that they do not need to be rich to participate in investment plans.

An investment plan is like the cure to the ailment called “financial instability”. While growing up, I used to hear my parents’ friends talk a lot about buying shares in some companies for their children. Back then, they made it look like investing was only for the elite. I saw this as the reason why my parents never bought shares like their friends, my parents were comfortable, not elite.

Several years later, I took it upon myself to educate the masses on how to make investments as an average-class citizen or a low-income earner, because everyone deserves to earn from investments.

Before you read further, it is important you know that as a low-income earner, your plans must involve investing smartly in quality investments and not just quantity, in order words, search for investments that offer valuable returns instead of higher returns, this is a secret you don’t find just anywhere.

Now, as a low-income earner, there are three things you must do as a low-income investor;

1.     Save: There are several reasons why you must save before investing. It is best to automate your savings so that you don’t forget to save a percentage regularly. Imbibing a saving culture can contribute massively to your investment plans as a low-income earner, you would not have to depend solely on your income to make investments and when you finally make an investment, you would not be terribly affected by a risky or low return investment.

2.     Settle Debts: For better results upon investments, analyze your lifestyle and the things causing you debts. When you have identified them, figure out a way to manage them. When you receive your income, put away a certain percentage for your emergency saving, then settle some of your debts, that way, you have the freedom to invest without constraints and worries.

3.     Consider Your Future: Naturally, every investment made is a plan towards the future. Your investments could be towards a relocation plan, a plan for your children’s academic fees, or even your retirement plan. Considering what you wish for your future will make it easier to know the percentage of your income you wish to invest.

With these simple and straightforward steps, investing even on a low budget can be made possible and achievable, it is never too early or too late.

We will be sharing platforms and other avenues you can invest in subsequent articles. Thanks for reading.

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