Not every apartment makes a successful shortlet. While a beautiful property may look like a good investment, factors such as location, demand, accessibility, amenities, and operating costs ultimately determine whether it will generate consistent bookings and long-term returns.
Choosing the right property is one of the most important decisions you'll make as a shortlet investor.
If you're planning to invest in a shortlet property in Nigeria, here are the key factors to consider before making a purchase.
1. Prioritize Location Above Everything Else 📍
Location is one of the biggest factors that influences occupancy, pricing, and guest demand.
Look for properties close to:
- Business districts
- Airports
- Major roads
- Restaurants and shopping malls
- Tourist attractions
- Hospitals and event centers
Areas with strong demand from business travelers and tourists often offer better shortlet opportunities.
👉 A great property in the wrong location may struggle to attract consistent bookings.
2. Study the Local Shortlet Market
Before investing, research the area carefully.
Find out:
- How many shortlets already operate nearby
- Average nightly rates
- Occupancy levels
- Target guests
- Seasonal demand
Understanding the local market helps you estimate whether the property has realistic income potential.
👉 Market research should come before the purchase, not after.
3. Check Accessibility 🚗
Guests appreciate properties that are easy to reach.
Consider:
- Road conditions
- Traffic patterns
- Public transportation
- Ride-hailing availability
- Parking facilities
👉 Convenient access improves the guest experience and makes your property more attractive.
4. Evaluate the Neighborhood
The surrounding environment is just as important as the apartment itself.
Ask:
- Is the area secure?
- Is it quiet?
- Is it clean?
- Are there nearby conveniences such as supermarkets, pharmacies, and restaurants?
👉 Guests often review the neighborhood as much as they review the apartment.
5. Assess the Building's Condition
Before buying, inspect the building carefully.
Look for:
- Structural condition
- Water supply
- Drainage
- Elevator functionality (if applicable)
- General maintenance
- Common areas
👉 Poor building maintenance can affect guest satisfaction regardless of how beautiful your apartment is.
6. Confirm Reliable Power Supply ⚡
Power reliability is one of the biggest concerns for travelers.
Consider whether the property has:
- Stable electricity
- Generator backup
- Inverter or solar system
- Space for future upgrades
👉 Reliable power can become a major competitive advantage.
7. Choose the Right Property Size 🏡
Think about your target market.
For example:
- Studio apartments often suit solo travelers.
- One-bedroom apartments are popular with couples and business travelers.
- Two- and three-bedroom apartments appeal to families and groups.
👉 Choose a property size that matches the demand in your chosen location.
8. Estimate Operating Costs
Don't focus only on the purchase price.
Estimate ongoing costs such as:
- Service charges
- Electricity
- Internet
- Cleaning
- Maintenance
- Security
- Property management
- Repairs
👉 A property with lower operating costs may produce stronger long-term returns.
9. Check Estate or Building Rules 📋
Some estates and residential developments have restrictions on short-term rentals.
Before investing, confirm:
- Estate regulations
- Lease conditions
- Building policies
- Visitor rules
👉 Understanding these rules before purchasing can help you avoid future operational challenges.
10. Consider Future Property Appreciation 📈
A good shortlet investment can generate income while also increasing in value over time.
Look for locations experiencing:
- Infrastructure development
- Commercial growth
- Improved road networks
- Increasing business activity
👉 A property that appreciates while generating rental income offers two potential sources of value.
11. Think About Furnishing Potential
Imagine how the apartment will look after furnishing.
Look for:
- Good natural lighting
- Functional layout
- Spacious rooms
- Attractive finishes
👉 Properties that photograph well often perform better online.
12. Plan for Professional Management
Managing a shortlet involves:
- Guest communication
- Cleaning
- Maintenance
- Pricing
- Marketing
- Property inspections
If you won't manage the property yourself, factor professional management into your investment plan.
👉 Good management can improve occupancy, guest satisfaction, and profitability.
Final Thoughts
Choosing the right property is the foundation of a successful shortlet investment.
Before buying, evaluate:
✔ Location
✔ Guest demand
✔ Accessibility
✔ Security
✔ Building condition
✔ Reliable power supply
✔ Operating costs
✔ Estate regulations
✔ Future growth potential
✔ Management requirements
A well-chosen property gives you a stronger chance of attracting guests, earning positive reviews, and generating sustainable income for years to come.
Looking to invest in a shortlet property in Lagos?
LandMall Property Management helps investors:
👉 Evaluate properties for shortlet potential
👉 Analyze income opportunities and operating costs
👉 Prepare apartments for the shortlet market
👉 Manage bookings, maintenance, and guest experiences
👉 Maximize occupancy and long-term profitability
📩 Contact LandMall Property Management today and let us help you choose the right property for a successful shortlet investment.
Because the most profitable shortlet businesses begin with the right investment decision.
For Inquiries / Inspection Reservations, please Call/WhatsApp:-
☎️ 09019001191
📧 landmallshortlets@gmail.com