Nancy Umeh Warns of Risks in Nigeria's Short-Let Market

Nigeria's short-let apartment market is on track to achieve an estimated revenue of N285.5 billion in 2026. However, operators are increasingly worried about the rising incidents of guest misconduct, property damage, and utility abuse, which are negatively impacting profits and the long-term viability of the business model.

In Lagos, a key market for short-lets, frequent guest turnover has led to higher maintenance and replacement costs, with some investors incurring millions of naira in repair expenses. Nancy Umeh, a Nigerian-born registered nurse, public health consultant, professional chef, entrepreneur, and social media influencer, highlighted these issues after inspecting her short-let properties in Lagos.

Umeh found significant deterioration and violations of property rules, despite assurances from property managers. Her inspections revealed damage linked to smoking inside properties, prompting her to shut down operations at one affected apartment.

Umeh's experience underscores the importance of property owners personally overseeing their investments rather than relying solely on managers.