Why More Property Owners Are Making the Switch
Switching from renting to Short Let in Nigeria today is fast becoming a trend amongst smart property owners. Relying on traditional renting can be frustrating, and to be honest "e no too pure again." With the fast and consistent growth in the hospitality industry, Short-let rentals would remain the real deal. Because it switching to Short let comes with more profit, less "Wahala," and flexibility.
Today, we will be highlighting 5 clear signs that will loudly tell you it's time to switch to Short let. However, switching to Short Let is not child's play. It's important to implement proven planning and strategies to maximize success in the short let and hotel niche.
So, let's get back to 5 clear signs that tell you its time to switch from renting to short let.
Switching From Renting To Short Let: The Obvious 5 Signs
1. Difficult Tenants
One of the most difficult situations for a property owner is if they have to deal with difficult tenants. For example, dealing with tenants who delay rent payments, misuse of property, or refusal to vacate in due time. The stress that comes with these scenarios can be overwhelming and sometimes devalue your property.
Switching from renting to short let is your best way out if you are in such a situation. Because they leave on their scheduled departure date after making an upfront payment.
2. Switching from Renting to Short Let to Avoid Long Vacant Periods
If your property is unoccupied for months as you wait for that new tenant to occupy your property, you’re losing money. Short lets attract travelers, business professionals, leisure seekers, etc. With the right strategies, your property will remain booked steadily while income flows daily.
3. Control Over Your Property
Traditional rents mostly come with lease agreements that limit your control for a year or more. Do you feel the need to have some level of control over your property? Then, switching from renting to short let is the right decision to make. Whether you intend to execute by yourself or you intend to partner with professionals, it's the right choice. Short-term rental gives you flexibility and control over your property. As a matter of fact, this is one of the major reasons why short let is widely accepted.
4. The Need to Earn More from Your Property
When it comes to decision making, money plays a huge role because it affects options, risks, and priorities. And you as a property owner, feeling the need to make more money from your property, decision-making is key. Switching from renting to short let is not a magic-money making decision or execution. But it an assured move that would that would put you in a financial gain far above yearly rent. This is due to the fact that short-let rates are charged daily or weekly. Thereby giving you a desired ROI for your space.
5. Switching from Renting to Short Let to Maintain Property Value
Lastly, every Landlord desire their properties to be well maintained, upgraded, keep its value or surpass it. Even so, it becomes difficult to carry out these maintenance if Landlords have tenants. Regardless if these tenants are good or bad tenants.
The situation does not give them the flexibility to keep their properties as maintained as they would wish. Short Let owners have mastered the habit of keeping their properties maintained and upgraded in order to attract new and existing guests. By doing so, the value of their properties keeps being on the rise yearly.
Let Jupitaar Help You Switch from Renting to Short Let
The benefits of switching from renting to short let are enormous and valuable if executed professionally.
Transitioning from renting to short-term letting is a savvy choice if you're facing vacancies, challenging tenants, or looking to boost your income. With platforms like Jupitaar taking care of management, guest bookings, and maintenance, the switch has never been simpler.
Start Your Short Let Journey Today
Take the first step and experience hassle-free passive income and zero "wahala".
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