6 WAYS TO UPGRADE YOUR SHORTLET INTO A CASH MAGNET

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Investing in a home, especially in Lagos State, is considered a wise decision. However, like almost every other investment, some people will make the most of their home investment and earn more millions than others who play in the same market.   

This is because, while others just invest in a home to tick the “I just bought a home” check box on their life goal checklist, these smart forward-thinking investors like you (who is reading this article) would have found a way to maximize the potential of your home to ensure a steady stream of income and substantial returns. 

If we guessed right, and you are truly in search of a way to tap into the lucrative Short-let industry in Lagos state, then keep reading as we share with you 6 unique ways to upgrade your short-let an asset that will make you millions of naira year in and year out.  

   

1. ENSURE YOUR HOME MEETS THE HIGHEST STANDARDS 

This is the background work. You are about to witness an influx of guests to your short-let home so you should make sure it is a comfortable and visually appealing space.  

Invest in high-quality furnishings, clean space, and modern amenities. You don’t even have to do this by yourself. You can hire a good interior designer to give your property a distinctive yet welcoming look. A beautiful space will attract guests, and encourage positive reviews and repeat bookings. 

  

2. PROMOTE ON APPROPRIATE PLATFORMS 

Visibility is key for success in the short-let industry or any industry at all. No one will come to you if they don’t know you exist or can’t find you.  

So, showcase your home to as many people as possible. Invest time in creating an attractive and detailed profile on popular short-term rental platforms. Use social media ads and promotions. Whichever way don’t stay quiet. Many people are looking for homes like yours. They just need to find you first. 

  

3. SET YOUR PRICING RIGHT  

If your pricing is too high, potential customers might shy away; if it’s too low, you risk financial loss. Strike the right balance and you will attract and retain guests to your short-let apartment. 

You can research similar listings in your area and compare the prices, then adjust your pricing based on factors such as seasonality, local events, and demand fluctuations. This will help you capitalize on peak periods and maintain a competitive edge during slower times. 

  

4. OFFER ADDITIONAL BENEFITS  

Think long-term. Beyond the first visit, what can you do to make them come back again and again? This could include daily housekeeping, concierge services, or even partnerships with local businesses for exclusive guest discounts.  

By going the extra mile, you not only enhance the guest experience but also increase the perceived value of your rental, allowing you to command higher rates. 

  

5. KEEP COMMUNICATION CHANNEL OPEN  

After they have come and had a wonderful stay, don’t let your guests leave without getting their contact details. Keep in touch with them through emails and newsletters, discount promos, birthday wishes and many more.  

By building a relationship with them, increase the likelihood of referrals and you’ll be their go-to choice whenever they’re in your area. 

 

6. TAKE ADVANTAGE OF TECHNOLOGY 

Stay ahead of the curve by integrating technology into your short-let management. Utilize smart home features, online booking platforms, and digital communication tools to enhance the overall experience for your guests. 

Now that you’ve gained this secret strategy, don’t keep it to yourself; share it with your short-let manager so that they can begin implementation. You can also pass it on to friends who also own short-term rental properties. 

For more enquiries about our hotel-style apartments in Osborne, Banana Island and Ikeja GRA, kindly visit our homepage or simply call 07006666888. 

Till we write to you again, Think LUXURY, Think FORESHORE. 

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