Shortlet bookkeeping means writing down every naira that comes into and goes out of your shortlet, stay by stay. Keep one simple record for each booking and one list of costs. Then check both at the end of every month.
That is enough to see whether you are making money, and to answer a tax office if it asks. You do not need accounting software to start. A spreadsheet, a notebook and a folder of receipts will do.
Why records matter
A shortlet can look busy and still lose money. Diesel, cleaning, laundry and repairs eat into every stay. Without records, you only see the money coming in, not what is left.
Good records help you in four ways:
- You see your real profit. Income minus costs, month by month.
- You price better. You know what one stay really costs you, so your night price and cleaning fee cover it.
- You settle questions fast. A guest who queries a charge, or a partner who asks where the money went, gets a clear answer.
- You are ready for tax. A tax office asks for income and costs, with proof.
Still working out whether a shortlet pays at all? Start with is a shortlet profitable? It shows which numbers to watch.
What to record for each stay
Give every stay one row in your record. Start it when the booking comes in, and finish it after check-out. These are the columns you are likely to need:
| Column | What to write |
|---|---|
| Booking reference | The booking number, or a number you give it |
| Guest name | The name on the booking, and nothing more personal |
| Dates | Check-in, check-out and the number of nights |
| Source | Online booking, repeat guest, referral from a friend |
| Nights | What the guest paid for the nights, after any discount |
| Cleaning fee | If you charge one |
| Caution deposit | The amount held, and how much went back to the guest |
| Extras sold | Water, breakfast, pick-ups and anything else you sold |
| Refunds | Anything paid back, and why |
| Fees and commission | What a platform or agent kept |
| Money received | What reached your bank, and the date it arrived |
Keep the caution deposit apart from your income. It is the guest’s money until the stay is settled. Only the part you are allowed to keep after a damage claim is yours.
Never write down a guest’s card details, and keep copies of IDs out of your spreadsheet. A booking reference and a name are enough to find a stay again.
On Cabans, the money on each booking follows one simple rule. Cabans charges hosts a 5% commission. The guest pays Paystack’s processing fee when they pay, so it does not come out of your earnings. Your payout is what the guest paid for the stay, plus any bills and extras they paid, less refunds and the 5%.
You are paid within 7 days after the guest’s stay, and sooner when the guest approves the payment after their trip. Write the payout date and amount in your record when it reaches your bank.
Where to find booking and bill records
Your records are only as good as their sources. Before you type anything, gather these in one place each month:
- booking confirmations and messages with guests;
- your bank statement, showing money in and money out;
- receipts for anything you bought for the flat;
- invoices from cleaners, technicians and suppliers.
Save digital receipts in one folder per month, named by date. For paper receipts, take a photo on the day and keep the paper in an envelope. Fuel and market receipts fade fast, so the photo is often the copy that lasts.
If you take bookings on Cabans, most of your stay records are already there:
- “Bookings” in your seller menu.The “Past” tab lists finished stays, and “Cancelled” lists cancelled and declined ones. Use the “Property” filter to see one home at a time.
- Each booking.It shows the guest’s name, the dates, the nights, the number of guests, the total and the booking number.
- “Bills for this stay”.Extras you billed the guest for. Once the guest pays a bill, it also appears under “Orders” as a paid order.
- The calendar.“Booked nights” links to each booking, and the change history shows who changed prices or dates, and when.
Step by step, see how to use your Bookings page and how to answer guest requests and bill extras.
Tracking costs
Costs are the easiest part to lose track of. Split them into two kinds.
Costs for each stay rise with every booking:
- cleaning and laundry after each guest;
- toiletries, toilet roll, drinking water and welcome items;
- fuel for the generator while guests are in, and electricity units;
- the cost of extras you sell, such as breakfast or a pick-up.
Running costs come every month or year, booked or not:
- rent, if you rent the flat you let out;
- service charge and estate dues;
- internet and TV subscriptions;
- generator, inverter and borehole servicing;
- repairs, and replacing worn items such as bedding and towels;
- insurance, bank charges and any advertising.
Write each cost down on the day you pay it. Note the date, the amount, what it was for and which flat it was for. If you have more than one shortlet, keep each home’s costs separate, or you cannot tell which one is doing well.
A separate bank account for the shortlet helps more than any app. When only shortlet money goes in and out, your bank statement does most of the bookkeeping for you. Our shortlet startup cost checklist lists the one-off costs to record when you set up.
Setting prices for a new home? Look at what similar homes offer in shortlets in Lekki or shortlets in Abuja. Then check that your price covers your cost per stay.
A month-end check
Set aside half an hour on the first weekend of each month. Work through these steps in order:
- List last month’s stays. Check every stay has a row, including cancelled ones.
- Match the money. Tick each payment against your bank statement. Chase anything missing.
- Check deposits. Make sure every caution deposit has been returned or settled.
- Add up costs. Total the month’s receipts for each flat.
- Work out profit. Money you kept, minus costs. Write the number down.
- Look at the trend. Compare it with last month, and with the same month last year.
- Back up. Save a copy of the spreadsheet and the receipt photos somewhere safe.
One number is worth watching closely: your cost per stay. Add up the month’s costs and divide by the number of stays. If it keeps rising, check your cleaning fee and your night price. Our shortlet business plan guide shows how to set targets for these numbers.
On Cabans, open “Bookings”, then the “Past” and “Cancelled” tabs, and you have last month’s list of stays in one place. The free Host Academy walks you through every step of a booking, from your first listing to the caution deposit.
Tax: where to start
Income from a shortlet is income, and it can be taxed. How depends on whether you let as a person, a business name or a company, and on where you live. This guide is not tax advice.
The law changed recently. The Nigeria Tax Act 2025 was signed on 26 June 2025 and took effect on 1 January 2026. It replaced older laws, including the Personal Income Tax Act and the Companies Income Tax Act. The federal tax agency, once the Federal Inland Revenue Service, is now the Nigeria Revenue Service. That was the position as at 30 September 2026.
What to do now:
- Keep your records for every year, with receipts. Your stay rows and cost list are the proof a tax office asks for.
- Ask a qualified tax adviser, or your state’s internal revenue service, how to declare your shortlet income and which costs count.
- In Lagos, ask too whether the state’s consumption tax on hotel-type stays applies to your flat. Our guide to registering a shortlet business sets out what we could and could not confirm.
Our guide to rental income tax explains the general ideas, such as what counts as rental income and why costs matter. Check any rule or rate in it against the new laws with an adviser.
Not listed yet? List your short let and start your records from the first booking. Then take bookings online so every stay, bill and payment sits in one place, and see how to manage bookings with your team.
Frequently asked questions
What is shortlet bookkeeping?
It is keeping a record of the money that comes in and goes out of your shortlet. In practice that means one row for each stay, one list of costs, and a short check at the end of every month.
Do I need accounting software for a shortlet?
Not to start. A spreadsheet and a folder of receipt photos are enough for one or a few homes. Software starts to help once you run several homes, pay staff or share the work with a partner.
Is the caution deposit part of my income?
No. The caution deposit is the guest’s money, held in case of damage. Record it, but keep it apart from your income. Only an amount you are allowed to keep after a settled damage claim counts as yours.
Which costs should a shortlet host track?
Cleaning and laundry, toiletries and supplies, fuel and electricity, water, internet, repairs, service charge and estate dues, and rent if you rent the flat you let out. Add insurance, bank charges and advertising if you pay for them.
How long should I keep shortlet records?
Keep them for several years, with the receipts. Tax offices can ask about past years. Ask a tax adviser how long the law expects you to keep them.
Do I pay tax on shortlet income in Nigeria?
Income from a shortlet can be taxed. How depends on whether you let as a person, a business name or a company, and where you live. The Nigeria Tax Act 2025 took effect on 1 January 2026, so ask a tax adviser how the new rules apply to you. This is not tax advice.
How much does Cabans keep from a booking?
Cabans charges hosts a 5% commission. The guest pays Paystack’s processing fee when they pay, so it does not come out of your earnings. Your payout is what the guest paid for the stay, plus any bills and extras they paid, less refunds and the 5%. You are paid within 7 days after the guest’s stay, and sooner when the guest approves the payment after their trip.
Related guides
Is a shortlet profitable? · Shortlet startup cost checklist · Shortlet business plan · Registering a shortlet business · Rental income tax in Nigeria
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