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How to Start An Airbnb In Lekki Lagos Nigeria With A Step–By–Step-by-step guide And Airbnb Friendly Apartments For Rent
Starting an Airbnb business in Lekki, Lagos is similar to starting Airbnb in every other part of the world.
The term Airbnb as used in this article covers the meaning of other short-term rentals such as; shortlets, Vacation rentals, Serviced Apartments, furnished apartments, Holiday rentals, etc.
Airbnb business over the years has proven to be lucrative if done right.
Especial we recorded a huge revenue and tremendous profits during the Lagos Detty December.
But, I tell you, you must put in the work if you must be successful in your Airbnb business.
Lekki, known for its vibrant nightlife, upscale neighborhoods, and proximity to beaches, attracts local and international visitors.
Setting up a short-term rental here requires strategic planning, property selection, and an understanding of the market dynamics.
Key Takeaways
Airbnb in Lagos is Highly Profitable:
A well-managed shortlet in Lekki, Victoria Island, or Ikoyi can generate significantly higher income than traditional rentals, especially with high occupancy rates
Location and Quality Matter:
Choosing prime locations and offering modern, well-furnished apartments with reliable power and internet ensures higher bookings and premium pricing.
Marketing and Guest Experience Drive Success:
Effective advertising, professional photos, and excellent customer service lead to repeat bookings and positive reviews, boosting earnings.
Scaling is the Key to Long-Term Growth:
Expanding to multiple units, automating processes, and offering additional services like airport pickups and concierge experiences can maximize revenue.
How to Start An Airbnb In Lekki Lagos
First, identify a prime location within Lekki.
Areas like Oniru, Lekki Phase 1, Ikate, Ilasan, Jakande, Osapa London, Chevron Drive, Ikota, VGC, Ajah, Abraham Aesanya, Ogombo, Sangotedo, down to Eleko are hotspots for short-term rentals due to their security, accessibility, and modern infrastructure.
Choose a property that appeals to business travelers, tourists, and expatriates.
Next, furnish the apartment tastefully.
High-speed internet, stylish decor, functional kitchen appliances, and hotel-quality bedding can significantly enhance the guest experience.
Invest in professional cleaning services to maintain a spotless environment.
Then, register on Airbnb or other shortlet platforms and optimize your listing with high-quality photos, a compelling description, and competitive pricing.
Setting up a dynamic pricing strategy adjusting rates based on demand, season, and local events can maximize earnings.
Lastly, ensure legal compliance.
Check housing regulations, tax obligations, and lease agreements to avoid legal pitfalls.
A solid business structure, whether as an individual host or a registered company, provides credibility and long-term sustainability.
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How to List Your Property on Airbnb: In 9 Easy Step-by-Step Guide
Step 1: Select Your Property Type
Airbnb allows you to list a wide range of properties.
You need to consider the size and layout of your space before choosing the type.
You can rent out a variety of spaces, even uncommon ones, like a treehouse or a spare room.
Here are the options available to you:
- Apartment
- House
- Self-contained Unit
- Bed and Breakfast
- Boutique Hotel
- Other Unique Spaces
Step 2: Choose the Specific Type of Property
Airbnb stands out because it offers various types of accommodations.
When listing your property, select the specific type that accurately represents what you are offering.
This helps potential guests understand exactly what to expect when booking.
For example, if you’re listing a room in your home, it should be labeled as a “residential home.”
If you’re offering a more niche stay like a houseboat or bungalow, there are options for that too.
Make sure the choice reflects your property accurately.
Step 3: Choose the Type of Space
Next, decide on the type of space you want to offer.
The type of space you choose determines what kind of experience your guests will have.
You can rent out an entire property, or list a private or shared room.
Consider your goals and the kind of experience you want to provide. Here are the three options:
- Entire Home/Apartment
Renting out an entire home or apartment means the guests have exclusive use of the space. This option works well if you have extra space and want to offer guests a homey experience.
- Private Room
If you offer a private room, guests have their own space but still share common areas like the kitchen or living room. This option attracts solo travelers or couples.
- Shared Room
In this option, guests share the room with others, often in a hostel-like setting. This is a good option for guests who want to meet new people and don’t mind sharing their space.
Step 4: Select Your Location
It’s critical to provide the accurate location of your property.
This information will be visible to potential guests.
Keep in mind that your location will also appear on Airbnb’s map search, so being precise helps guests find your listing.
Step 5: Bedrooms and Amenities
To make your listing more appealing, list the specifics about the bedrooms and amenities available.
Be clear about the number of guests your space accommodates, the number of beds, and the number of bathrooms.
Providing details about amenities like Wi-Fi, parking, or air conditioning can help attract guests.
Airbnb categorizes these amenities for easy reference, so be sure to include all that apply to your property.
Step 6: Upload Photos
Great photos are essential to your listing’s success.
Make sure to choose clear, well-lit photos that showcase your space.
High-quality images increase the chances of your listing standing out and attracting guests.
Here are a few tips:
- Use bright and clear images.
- Clean up the space to make it look inviting.
- Include wide shots and close-ups of furniture, decor, and features.
- Don’t include people in your photos.
Aim to upload at least five photos with a resolution of 1024px x 683px.
Step 7: Write a Detailed Listing
Craft a catchy title and description for your listing.
Use keywords that potential guests may search for, such as “spacious,” “cozy,” or “close to the beach.”
The description should reflect the overall atmosphere of the property.
Be honest about what your space offers, and don’t forget to mention the amenities and house rules, like check-in/check-out times and noise restrictions.
Step 8: Set the Price
Pricing is key to attracting guests while ensuring you make a profit.
Consider factors like location, the time of year, and the type of property you’re renting out.
Research similar listings in your area to find a price range that makes sense.
You can also offer special discounts for your first few bookings to attract initial guests.
Step 9: Final Questions and Publish
Before publishing, answer any remaining questions regarding security, animals, or other potential risks.
After you’ve reviewed everything, you’re ready to publish your listing and welcome guests!
By following these steps, you can set up your Airbnb listing quickly and efficiently.
With a well-crafted profile, great photos, and the right price, you’ll be on your way to earning money as an Airbnb host in no time.
How Profitable is Airbnb in Nigeria?
Airbnb in Nigeria is highly profitable, especially in urban centers like Lagos, Abuja, and Port Harcourt.
The profitability depends on factors such as location, property quality, and demand fluctuations.
In Lekki, for instance, a well-furnished one-bedroom apartment can generate ₦50,000 to ₦150,000 per night, while larger apartments or villas can command ₦200,000 or more per night.
During peak seasons like festive periods, corporate events, and tourism seasons, bookings increase significantly, leading to higher earnings.
However, profitability also depends on occupancy rates.
A well-managed shortlet property with an 80% or higher occupancy rate can yield returns far greater than traditional rentals.
How to Advertise a Shortlet Apartment
Effective marketing is crucial for maximizing bookings and revenue.
Here are proven strategies to advertise a shortlet apartment:
List on Multiple Platforms – Besides Airbnb, use platforms like Booking.com, Jumia Travel, and private rental websites to increase visibility.
Utilize Social Media – Instagram, Facebook, and Twitter can drive bookings when you showcase high-quality images and engage with potential guests.
Leverage Influencer Marketing – Partner with lifestyle and travel influencers to promote the apartment to their audience.
SEO and Google My Business – Optimize online listings with relevant keywords like “Luxury Shortlet in Lekki” to appear in search results.
Referral Discounts – Offer discounts to guests who refer others to your property.
How Much Can Airbnb Owners Make?
Airbnb earnings vary based on property type, location, and pricing.
A one-bedroom unit in Lekki can generate ₦1.5 million to ₦4.5 million per month if well-occupied.
Larger apartments or luxury penthouses can generate over ₦10 million monthly in peak periods.
Factors influencing earnings include:
- Occupancy Rate: The more bookings, the higher the revenue.
- Seasonality: Demand spikes during holidays, conferences, and tourist seasons.
- Competitive Pricing: Adjusting rates based on market trends boosts revenue.
Where is the Most Profitable Airbnb?
The most profitable Airbnb locations in Nigeria include:
Lekki Phase 1, Victoria Island, and Ikoyi (Lagos) High demand from expatriates, business travelers, and tourists.
Maitama and Wuse 2 (Abuja) Attracts diplomats, politicians, and business executives.
GRA and Trans-Amadi (Port Harcourt) Preferred by oil and gas professionals.
What is Another Name for a Shortlet?
A shortlet is also referred to as:
- Vacation Rental
- Serviced Apartment
- Corporate Housing
- Holiday Home
How Do I Advertise My Apartment on Airbnb?
- To list and promote your apartment on Airbnb:
- Sign up on Airbnb and create a profile.
- Upload professional photos showcasing all amenities.
- Write a compelling description highlighting unique features.
- Set competitive pricing based on market rates.
- Activate instant booking for convenience.
- Respond promptly to inquiries and reviews to maintain high ratings.
What is a Shortlet Apartment?
A shortlet apartment is a fully furnished rental property available for short stays, ranging from a few days to several months.
It provides hotel-like amenities in a home setting and is ideal for business travelers, tourists, and temporary residents.
How Much Does It Cost to Start an Airbnb?
The startup cost for an Airbnb in Lekki, Lagos depends on several factors:
Property Acquisition: Buying a unit can range from ₦70 million to ₦300 million for premium apartments.
Furnishing & Décor: Setting up a high-end shortlet can cost between ₦5 million and ₦20 million.
Marketing & Listing: Budget at least ₦500,000 for professional photography and advertisements.
Legal & Compliance Fees: Business registration, tax clearance, and property insurance may cost ₦1 million or more.
What is the 90-Day Rule on Airbnb?
The 90-day rule applies in some cities where Airbnb limits short-term rentals to 90 nights per year unless the host obtains a special permit. However, Nigeria currently does not enforce this restriction.
How to Know if Airbnb is Profitable?
To determine Airbnb profitability, assess:
Occupancy Rate: A property with at least 60-80% bookings is profitable.
Monthly Revenue vs. Expenses: Ensure revenue covers maintenance, utilities, and marketing costs.
Seasonal Trends: Higher demand during peak seasons increases profitability.
How Do I Start a Small Airbnb?
For those starting small, consider these steps:
Rent a Property: Lease a well-located apartment for short-term rental.
Furnish Smartly: Invest in high-quality but affordable decor.
Start with One Unit: Scale as bookings increase.
Offer Personalized Service: Exceptional hospitality ensures repeat bookings.
How Do I Receive Payment from Airbnb in Nigeria?
Airbnb payments are processed via bank transfers or Payoneer. Nigerian hosts typically:
Link a domiciliary or local bank account.
Use Payoneer to receive international payments and withdraw in naira.
Receive payouts within 24 to 72 hours after guest check-in.
Can Anyone Join Airbnb?
Yes, anyone can list a property on Airbnb as long as they meet Airbnb’s host requirements. This includes:
- Providing a clean, safe, and well-maintained space.
- Ensuring transparent communication and fair pricing.
- Following local rental laws and tax regulations.
A well-run Airbnb in Lekki can be a highly rewarding venture with the right strategy and commitment to quality service.
Why Airbnb is a Smart Investment in Lagos
Lagos, with its booming economy, tourism sector, and influx of business travelers, is one of the most profitable cities for Airbnb in Africa.
Unlike traditional rental properties, which generate fixed monthly income, shortlet apartments can earn double or even triple the amount if well-managed.
Additionally, with the rise of remote work and digital nomads, more travelers are opting for comfortable, home-like stays over hotels.
This trend makes investing in a short-term rental a lucrative opportunity, especially in high-demand areas like Lekki, Victoria Island, and Ikoyi.
Common Challenges of Running an Airbnb in Lagos
While Airbnb hosting is profitable, it does come with challenges, including:
High Competition: With more hosts entering the market, standing out requires exceptional service and marketing.
Property Maintenance: Frequent guest turnover means higher wear and tear, requiring regular upkeep.
Power & Water Supply Issues: Reliable electricity and water supply are crucial; investing in a generator and backup water tanks is advisable.
Guest Management: Some guests may violate house rules, damage property, or leave bad reviews, which can affect future bookings.
However, with proper management, these challenges can be mitigated, ensuring a smooth and profitable Airbnb business.
How to Scale Your Airbnb Business in Lagos
Once your first Airbnb listing is profitable, consider scaling up to increase revenue.
Some proven strategies include:
Expanding to More Locations: Invest in multiple properties in high-demand areas.
Offering Additional Services: Provide airport pickups, guided tours, and personal chefs to attract premium guests.
Partnering with Travel Agencies: Collaborate with local and international travel agencies to drive more bookings.
Automating Operations: Use tools like Smart Locks, Self Check-in, and Channel Managers to streamline management.
FAQs:
What is Airbnb and How Does It Work?
Airbnb is a revolutionary platform that has transformed the way people find short-term accommodation.
Whether you’re a traveler looking for a cozy home away from home or a homeowner seeking to earn extra income, Airbnb provides a seamless connection between guests and hosts.
Unlike traditional hotels, Airbnb offers a diverse range of stays, from luxurious apartments to rustic countryside cabins.
What is the Full Meaning of Airbnb?
The name Airbnb is derived from “Air Bed & Breakfast.”
The concept originated in 2008 when two designers in San Francisco decided to rent out an air mattress in their apartment to make extra money.
They called it “Air Bed & Breakfast”, emphasizing the idea of affordable, home-like stays with a personal touch.
Why is it Called an Airbnb?
The term Airbnb reflects the company’s early days when the founders provided air mattresses for guests in their homes.
Initially, the platform was focused on budget-friendly, casual lodging, much like a bed-and-breakfast but without the full hotel experience.
How is Airbnb Different from a Hotel?
Airbnb and hotels both offer accommodation, but they operate on entirely different principles.
Is Airbnb legal in Lagos, Nigeria?
Yes, Airbnb is legal in Lagos. However, hosts must comply with local property laws, tenancy agreements, and tax regulations.
How much can I make from an Airbnb in Lekki?
Earnings vary, but a well-furnished one-bedroom can generate ₦1.5M–₦4.5M per month, while larger apartments can make over ₦10M monthly during peak seasons.
Do I need to own a property to start an Airbnb?
No, you can lease a property and negotiate with the landlord to use it for short-term rentals (also known as rental arbitrage).
What kind of apartments perform best on Airbnb?
Modern, well-furnished apartments in secure estates with good road networks, stable electricity, and proximity to attractions tend to attract more bookings.
How do I receive Airbnb payments in Nigeria?
Airbnb processes payments through Payoneer or direct bank transfers. Hosts can withdraw funds in Naira or USD based on their linked account.
How do I handle security and damages?
Require a security deposit, install CCTV (in common areas), and screen guests before booking. Airbnb also provides a Host Guarantee Program for damage protection.
How do I get more bookings for my Airbnb?
Optimize your listing with professional photos, competitive pricing, positive reviews, and active promotion on social media and travel websites.
What are the biggest expenses of running an Airbnb?
Major costs include property rent or purchase, furnishing, maintenance, cleaning, utility bills, and service charges for estate amenities.
Can I list my Airbnb on multiple platforms?
Yes! Apart from Airbnb, you can list on Booking.com, Jumia Travel, and private real estate platforms to increase visibility and occupancy.
Is Airbnb better than traditional renting in Lagos?
Yes, in high-demand areas, short-term rentals earn 2x–3x more than long-term leases, but require active management and higher maintenance.
Final Thoughts
Airbnb in Lekki, Lagos presents a highly rewarding business opportunity when done right.
With the right location, quality furnishings, excellent service, and strategic marketing, hosts can generate significant income while providing an unforgettable experience for guests.
For anyone looking to start, scale, or optimize their Airbnb business, planning, consistency, and innovation are key to long-term success.
