The COVID-19 pandemic, for a vast majority of people, was a tidal phase – a disruptor that forced many industries to rethink their approach to doing business. The hospitality sector, however had a different tale to tell – it was one of the major markets that saw a geometric progression in such a challenging time.

The global property market is valued at more than $23.8 billion and it is high time home owners started to maximize the opportunities. The shortlets market remains highly uncultivated.
This is the vision shared by Mr Tobi Misan Adegboyega, the Managing Director of Eko ShortLets as part of his drive to utilise the untapped potential that is present in Nigeria’s commercial capital – Lagos State.

Copious examples from the year 2020, have shown that Nigerians found solace in shortlets when the government policies on restriction of movement and human contact, saw hotels shut down for business for the more than half of the year 2020 as a part of efforts to stifle the ravaging novel virus at the time.

The demand for hospitality was at an all-time high but there weren’t enough places to play host to people who were stranded as a result of the lockdown. Thus people turned to shortlets and those who provided accommodation and other services quickly struck a goldmine.

According to Mr Adegboyega, this gold rush remains under-tapped despite the fact that COVID-19 preventive policies have long been relaxed. This is because the paradigm shift has made people realise the need for privacy in their work and other activities.

With this demand still prevalent, Mr Adegboyega is calling on property owners to avail their homes as shortlets in order to leverage on the benefits present to them when they do this.

“The shortlets industry is booming. We can even say it is still in its niche here in Nigeria and like every business person knows, those who quickly try a new product get to enjoy it before it becomes over saturated. Property owners need to realise this. Eko ShortLets is an apartment management company that has taken up the challenge to change the shortLet and apartment tale, one customer at a time.”

The company also takes on other people’s property in a managerial capacity. These properties will be put up on its fleet of tastefully furnished apartments and they will be made up to fit into the standard of primus inter pares luxurious spaces, whilst retaining an almost pristine state. Owners of such property will be given a percentage of the company’s income on a monthly basis