Effect of Property Management on Property Value

Effect of Property Management on Property Value

Project / Seminar Material
Reference ID: PS-8743-TM

DEDICATION

This research material titled “Effect of Property Management on Property Value” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Environmental Science, Book Authors and Profound Scholars of existing or related project material on “Effect of Property Management on Property Value” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

ABSTRACT

The principal objective of property management is to maintain a property in a state to command the greatest possible net return and to protect the owner’s capital investment at all times, one unique feature of commercial properties is that they are of multiple occupation. Considering the huge capital investment in their construction, it is prudent that their efficient management should be of paramount importance. As with all forms of public properties, the management of commercial properties present peculiar problems that deman their own solutions.
The study therefore, seeks to appraise the Effect of Property Management on Property Value using commercial properties in Awka as a case study.

Effect of Property Management on Property Value

CHAPTER ONE

1.1 Background Of Study

The issue of property management has persisted in the Nigeria society for quite sometime. Property management is the art and science of real estate with respect to it’s development, maintenance, cash flow from users and occupiers in order to achieve optimum benefits for the owner and all parties interested in the property within the ambit of relevant laws.

It is observed that for many years. most properties have lacked proper management due to absence of qualified property managers who are professionally equipped to handle property management.

Many property owners (Landlords) do not usually engage the services of estate surveyors and valuers. They appoint “caretakers” to look after or take care of their properties. These caretakers in turn have limited powers as they can only collect rent from tenants and engage in minor repairs of the properties. Moreover, they are mostly laymen and not trained in estate management. This has affected the value of some properties in the market.

Therefore, the ability of a property to yield highest returns and posses a long physical and economic life depends on good property management. Good property management has transcended ordinary maintenance of property based on tenant’s complaints and graduated into purposeful planning of building services and efficient accounting system with due regard to the legal, economic and social interests of the tenants and Landlord alike.

If we look around and study some of the multi-storey and public properties in some of our state capitals, most especially Awka, one can easily distinguish between the well managed and the neglected ones.

Proper management of our landed properties is as important as the construction of these properties and it is vital to the economics, historical, social and cultural development of our nation and it should be accorded its due importance both privately and publicly.

1.2 Statement Of The Problem

Property developers as well as governments all over the world especially in developing countries embark on the development of properties. Although these properties were approved by the town planning authorities, they present physical, economical, environmental, financial and social problems.

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CHAPTER TWO

2.0 Literature Review

2.1 Introduction

This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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