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Are you or anyone you know coming to Lagos anytime soon, here is the best way to locate Shortlet rental Apartments In Lagos Nigeria.
For general rental properties, the contract period is usually around one year, and it is assumed that you will live there for a certain period of time.
Therefore, when looking for a property to rent for a short period of time for reasons such as a business trip or training, you will need to search in a different way than usual.
This time, let’s take a look at the types of rental properties available for short-term rental in Lagos and Nigeria in general and how to choose them.
Shortlet Rental Apartments In Lagos Nigeria:
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Your to-do list before moving!
What types of short-term housing are there specifically? Here we will explain the main options.
Short-term rental apartments
As the name suggests, short-term rental apartments are apartments that can be rented for short periods, such as one day to one month, etc.
It is a system that is somewhere between a regular rental property and a hotel, and since there is no one-year contract, it can be used for a short period of time. There are also apartments that can be rented by the week or a few days instead of by the month.
Hotel
Hotels are a good option for short-term stays of a few days because of their easy contract procedures. Some business hotels also offer long-term stay plans of 30 days for business trips.
Shared Apartments
A shared apartment or house is a property in which multiple people rent one building, such as a house.
Basically, individual rooms are used as private spaces, and shared spaces such as kitchens and sometimes bathrooms are shared with other housemates.
Compared to regular rental properties, the rent is cheaper and initial costs are also kept low, making it a viable option if you want to keep the costs of a short stay down.
Private lodging
Shortlet refers to staying in a typical detached house or apartment. The contract type is flexible for each property, so it is often possible to rent it for a relatively short period of time.
Points to consider when choosing a property to rent for a short period of time
Check your surroundings
Even if you are moving in for a short period of time, you will want to be particular about safety and comfort. Be sure to pay attention not only to the rent but also to the location and surrounding environment.
Especially with short-term rentals, you will likely be living in an unfamiliar area, so it is important to do thorough research on the surrounding area.
In addition, when living in a shared house, you need to be aware that you will be living with strangers, so you need to be mindful of things like managing your valuables and ensuring safety.
Also, when it comes to private lodgings, be careful as the person in charge may be inexperienced in managing a rental property, and there may be problems with garbage, noise, etc.
Also Read: Real Estate Investing In Nigeria: How To Know The Hidden Processes
Search for a shortlet apartment
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The structure and characteristics of short-term rental apartments
From here, we will take a closer look at how short-term rental apartments work and what their features are, as the main option for short-term stays.
How short-term rental apartments work
As mentioned above, a short-term rental apartment is a rental property that can be leased for a short period of time, such as one day or month. The specific mechanism is that you first set the period of use and then pay the rent and necessary expenses in advance.
Differences from ordinary rental apartments
Compared to a regular rental apartment, there is not much difference in the facilities and performance of the building. In many cases, the building was originally a regular property but was later made available for short-term rental.
On the other hand, there are big differences in the contract methods and service formats. The biggest difference is that the apartments come equipped with all the furniture and appliances necessary for daily life.
This system is ideal for short-term stays because you can start your new life right away by simply preparing your personal belongings. In addition, the move-in process is simple, and there is no detailed screening process like there is for regular rental properties.
Main situations in which short-term rental apartments are used
Short-term rental apartments are used in the following cases:
- Business trips and short-term relocations
- A base for travel
- Temporary housing while renovating your home
- Living alone or trying out cohabitation
Where to stay when coming to Lagos for exams or job hunting
Due to the convenience of being able to rent for a short period of time, short-term rental apartments can be used for a variety of purposes. They are not only suitable for single occupancy, but some properties can accommodate multiple occupants, so they can also be used by families as temporary housing during renovations.
The pros and cons of short-term rental apartments
Let’s take a closer look at the characteristics of short-term rental apartments, both their advantages and disadvantages.
Advantages of Shortlet Apartments
Short-term rentals have the following advantages:
- Furniture and appliances are provided
- Initial costs are kept low
- No need to apply for lifelines
- No need for a guarantor or guarantee company
- Less expensive than staying in a hotel
Short-term rental apartments come equipped with furniture and appliances, so there is no need for major relocation. Some properties also offer optional small appliances for rent, allowing you to significantly reduce the amount of luggage you need to bring.
In addition, the initial costs are cheaper than for regular rental properties, and the management company will take care of the installation procedures for essential utilities such as water, electricity, and gas. Therefore, the ease of being able to start a new life right away is a major benefit.
Another attractive feature is that the total cost is cheaper than staying in a hotel.
Disadvantages of Shortlet Apartments
- Next, let’s look at the disadvantages.
- The cost must be paid in full upfront
- Rent is higher than usual
- In many cases, you cannot view the property
For short-term rental apartments, you basically have to pay the rent for the entire contract period, caution fees, and other fees in advance, so you will need to have a certain amount of money ready when you move in.
Also, compared to regular rental properties, the rent is set higher than the market average. Taking into account the initial costs, it is often cheaper for a short stay, but if you plan to stay for six months or more, a regular property may be cheaper.
Furthermore, since short-term rental apartments have a high turnover of tenants, it is not rare that you are not able to see inside the apartment. If you want to check the room thoroughly before deciding, it is a good idea to inquire in advance whether you can see inside the apartment.
We explain the advantages and disadvantages and the cost structure
Can I view a shortlet apartment? Points to keep in mind when Searching for a shortlet apartment.
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Points to note when signing a short-term rental agreement
While short-term rental apartments are a convenient service suitable for short-term use, you need to be aware of different rules than for regular properties.
Finally, let’s look at four main points to keep in mind.
Contract periods can always be extended
As we explained earlier, when renting a short-term apartment, you first decide on the period of stay. Once the contract period expires, you may be able to extend your stay, so it is important to clarify your schedule in advance.
Check the conditions for penalty charges
If you cancel or move out during the contract period, depending on the property, you may be charged a penalty and prepaid rent may not be refunded. Rules regarding moving out during the contract period vary from property to property, so be sure to check the contract details beforehand.
Check how utility bills are handled
Utility fees for short-term rental apartments are generally set at a flat rate. There are two ways to pay: either included in the rent or paid monthly. If you use too much, you may be charged separately.
The specific average price differs based on house type and location but the fee generally increases as the number of occupants increases. The fee structure differs depending on the management company, so be sure to check their website before signing a contract.
summary
Short-term rental properties
Properties that can be rented for a short period of time include short-term rental apartments, shared apartment houses, and private lodgings.
Even if you plan to stay for a short period of time, be sure to check the location and surrounding environment.
In general, short-term rental apartments require you to decide the length of your stay in advance and pay the fees in advance.
The property is well-equipped with furniture and appliances, and has easy contract procedures, making it suitable for short-term occupancy.
Understand the unique system of short-term rental apartments.
Are you or anyone you know coming to Lagos any time soon, we are here to help you located and book the most affordable, pocket friendly and convenient and secured shortlet apartment in Lagos Nigeria, You are just a call away from your next luxurious shortlet. Call/DM +2349080888834 now with your booking.
