Short-let apartments have quietly become one of the fastest ways to make consistent monthly income from real estate in Nigeria — even if you don’t own a single property.
From Lagos to Abuja to Ibadan and even fast-growing cities, travellers, business people, and families now prefer short-let apartments over hotels. Why? More space, privacy, and better pricing.
This shift has created a powerful opportunity.
If you structure it well, a single apartment can generate more income than traditional yearly rent. And with the right model, you can control units without buying buildings.
In this guide, you will learn how the short-let apartment business works in Nigeria, how to start with limited capital, and how to scale into a steady monthly income stream.
Why Short-Let Apartments Are Booming in Nigeria
Nigeria’s urban centres are expanding rapidly. Business travel, relocation, tourism, and remote work have increased demand for flexible accommodation.
Hotels are expensive. Many travellers now prefer:
– Furnished apartments
– Weekly stays
– Monthly stays
– Private spaces
Short-let apartments fill this gap perfectly.
This is why smart entrepreneurs are entering the space — not as landlords, but as operators.
It is the same principle behind earning from real estate without owning property.
You can read that foundation strategy here:
https://hezolarem.site/make-money-from-real-estate-without-buying-land/
How the Short-Let Apartment Business Model Works
There are three major ways people run this business in Nigeria.
Rental Arbitrage Model
You rent an apartment yearly and convert it into a furnished short-let unit.
You pay the landlord fixed rent, then earn from daily or weekly bookings.
If you structure pricing well, your monthly earnings can exceed the yearly rent.
This model is explained deeper here:
https://hezolarem.site/rental-arbitrage-in-nigeria/
Management Model
You don’t rent.
You manage apartments for property owners and take a percentage from bookings.
Many landlords want higher returns but don’t want to manage guests.
You become the operator and earn management fees.
Ownership Model
You buy and furnish your own apartment.
Higher capital, but higher long-term profit.
Most beginners should start with arbitrage or management.
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How Much You Need to Start
Startup cost depends on location and apartment size.
For a standard 1-bedroom in Lagos or Abuja (arbitrage model):
Rent + agreement: ₦1.5m – ₦3m
Furniture & setup: ₦1m – ₦2m
Generator/inverter: ₦300k – ₦800k
Decoration & branding: ₦200k – ₦500k
Estimated total:
₦3m – ₦6m startup
This can look big, but returns can be strong.
A properly managed unit can generate:
₦70k – ₦150k per week
₦300k – ₦900k per month (location dependent)
This is why many people now aim to build multiple units.
It aligns with strategies used by those earning high monthly income from real estate without ownership:
https://hezolarem.site/make-money-from-real-estate-without-buying-land/
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Best Locations in Nigeria for Short-Let
Not every area works. Focus on:
Lagos
– Lekki
– Ikeja
– Yaba
– Victoria Island
– Ajah
Abuja
– Wuse
– Gwarinpa
– Maitama
– Jabi
Ibadan
– Bodija
– Akobo
– Jericho
Port Harcourt
– GRA
– New GRA
Look for areas with:
– Business activity
– Good roads
– Security
– Access to airport or major roads
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Step-by-Step: How to Start
Research demand in your chosen area
Check Airbnb and Booking.com listings.
Secure an apartment
Negotiate with landlord.
Be transparent when possible.
Furnish smartly
Clean, modern, simple.
Don’t overspend on luxury initially.
List on platforms
Airbnb
Booking.com
WhatsApp marketing
Facebook
Direct agent network
Create a booking system
Have clear pricing
Have rules
Have cleaning schedule
Market consistently
Videos
Photos
Testimonials
Agent partnerships
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Mistakes to Avoid
Overpaying for rent
Poor furnishing
No marketing
Bad guest experience
No maintenance plan
Short-let is hospitality, not just real estate.
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How to Scale to Multiple Units
Start with one.
Stabilize income.
Reinvest profit.
Add more units.
You can also move into property management for other landlords and grow faster.
This is how many people gradually build strong monthly income streams from real estate operations.
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Income Potential
One unit:
₦200k – ₦800k monthly
Three units:
₦600k – ₦2m monthly
Five units:
₦1m+ monthly possible
This is why the short-let model is one of the most practical paths for people who want to earn from real estate consistently.
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Final Word
The Nigerian real estate market is evolving.
Ownership is no longer the only path to profit.
If you understand operations, guest experience, and marketing, short-let apartments can become a reliable income stream.
Start small.
Structure well.
Scale wisely.
Real estate rewards those who move early and build systems.