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Problems of Property Management and Its Solutions in Nigeria

Problems of Property Management and It's Solutions in Nigeria

Project / Seminar Material
Reference ID: PS-4894-TM

DEDICATION

This research material titled “Problems of Property Management and It's Solutions in Nigeria” 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 Estate Management (EM), Book Authors and Profound Scholars of existing or related project material on “Problems of Property Management and It's Solutions in Nigeria” 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.

TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”

    ABSTRACT

    Property management is a vital aspect of real estate profession. To a non-professional estate agent property management entails only vent collection and receiving of fee, but there are other aspects of it which intake the expertise of a professional Estate agent to task. These include selecting the right type of tenant for a particular property arrangement and execution of leases, advising on insurance policy and rating assessment and ensuring that they are settled regularly, defining maintenance obligation of both the land lord and the tenant.

    Beside all these, there are so many problem associated with property management which ranges from attitude of the land lord inflation, political and economic factors, particular circumstance of individuals properties etc.

    This study will therefore examine these problems and proffer solutions.

    Proffer Solution: It is the responsibility of the manger to ensure that the defects are properly repaired. In a situation where the management agent is responsible for maintenance of the property, the agent must be very prudent with maintenance cost, and ensure that client receive good value of their money. If it is multiple occupied properties, the manager will or have to introduce the service charge approach for maintenance work.

    Problems of Property Management and It’s Solutions in Nigeria

    CHAPTER ONE

    1.0 Introduction

    Property management to a non − Professional Estate agent entails mere collection rent.

    Real property management goes beyond mere collection of rent. A property manger gets involved with managerial problem solving and decision making. He also performs several activities and tasks involving planning, organising, directing and controlling with respect to the portfolio of real estate assets being managed on behalf of his clients.

    This is important since one of the features of real property that distinguishes it from other investment media is its requirement to be managed.

    Because of the increasing pace of technological development or innovations resulting particularly in the construction of high rise and high technological structures in our cities, there is need for a trained manager who is able to cope effectively and efficiently with management problems arising from the latter.

    Multi − tenanted properties such as office blocks and residential houses present the greatest management challenge to the surveyor.

    The author’s experience of non-challant attitude of a good number of property investors regarding the management of the property prompted the choice of this topic

    1.2 Objectives Of The Study

    The study will examine the problems of property management, and proffer solutions towards rectifying these problems

    1.3 Scope

    This project will be limited to a few selected property in Abuja metropole, which includes.

    1. Shelter House
    2. Alaji M.D. shitus property on Plot 801 Malumfashi Close Area 11, Gariki Abuja
    3. C.O.C. Enterprises property in Karmo, Abuja
    4. Mrs. Nwankwo’s property on Plot 118 Tunis Street Zone 6 Wuse, Abuja

    1.4 Study Methodology

    This study is based on data collected by the following methods

    1. Primary method
    2. Secondary method

    Primary Method:

    Primary data collection involves the distribution of questionnaires among some practicing Estate surveyor value’s as well as some land lords.

    It involves the personal interview of professional.

    Secondary Method:

    Secondary data are those collected from previously published works (e.g.) Journals, newspapers, magazines etc.

    1.5 Definition Of Property Management

    Michael Thorncraft defined property management as the direction and supervision of an interest in landed property with the aim of securing the optimum return. This return, which may not always be financial may also be in the form of social benefit, status, prestige, political strength etc.

    John P. Macey and Charles Baker defined property management as the application of skill in caring for property. Its surrounding and amenities, and in developing a sound relationship between tenants themselves, in order that the Estate, as well as t he individual house may give the fullest value to both the land lord and the tenants, from the land lords point of view it is desirable that the property should be efficiently and economically maintained and managed as much as possible, while from the tenants point of view, the house should provide a home, the focal point of full and happy life for the family.

    …

    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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