The Rise of Short-Let Apartments: Disrupting Nigeria’s Hospitality Industry

ESV Bello Olaitan Memunat,

In recent years, short-let apartments have revolutionized the Nigerian hospitality and real estate markets, particularly in urban centers like Lagos, Abuja, Port Harcourt, and even emerging cities like Uyo and Enugu. With the rise of platforms like Airbnb, Booking.com, and local alternatives such as Fibre and Short let Homes, short-lets are becoming the preferred accommodation option for travelers, business professionals, and even locals seeking satisfaction.

Unlike traditional hotels, short-let apartments offer guests more than just a bed and bathroom spaces. They provide the comforts of home -fully furnished living rooms, functional kitchens, Wi-Fi, laundry services, and greater and secured privacy. These appeals especially to business travelers who may stay for weeks or families looking for cost-effective alternatives to booking multiple hotel rooms. For a similar or even lower price than a standard hotel room, one can enjoy an entire apartment.

But beyond customer satisfaction, the short-let trend is empowering a new wave of passionate entrepreneurs. Young Nigerians are converting personal or family-owned properties into hospitality assets. Others are signing lease agreements on apartments with landlords and furnishing them for short-let use—a practice known as rental arbitrage. Additionally, the ecosystem now includes interior decorators, cleaners, photographers, digital marketers, and property managers—creating a mini-industry within the real estate sector.

However, the boom is not without its challenges. Some residential communities are experiencing noise complaints, security concerns, and strained facilities due to the constant influx of guests. In places like Lekki in Lagos and Wuse 2 in Abuja, residents are beginning to push for regulations to manage the spread of short-lets in their neighborhoods. There is also a growing concern that some landlords are prioritizing short-lets over long-term tenants, causing rent hikes and availability issues. This is a challenge that needs to be addressed.

To manage this growing trend, government agencies and estate associations must step in with policies that support growth while protecting communities. Mandatory guest verification, registration of short-let operators, taxation, and zoning policies can help bring order to the sector for the common good of everyone.

Ultimately, short-let apartments are not a fad, they are a reflection of shifting consumer behavior and the demand for more flexible, affordable accommodation. If well-regulated and professionally managed, this innovation can continue to offer economic opportunities while reshaping Nigeria’s hospitality landscape for the better.

ESV Bello Olaitan Memunat a member of the Nigerian Institution of Estate Surveyor and Valuer (NIESV), writes from Abuja, Nigeria.