Problems And Prospects Of residential properties Management In Nigeria
Chapter One
Preface
Background To The Study
Domestic property operation is arising as a directorial wisdom moment( Kyle and Baird, 1995). It transcends beyond the part of rent collector( Li, 1997). Managing a domestic property involves establishing pretensions, objects and programs and perpetration of strategies to achieve those pretensions and objects. Singh( 1994, 1996) posited that domestic property operation is an exertion that seeks to control interests in property proprietor and particular purpose for which the property is held. Wong( 1999) considers domestic property operation as the work carried out to manage and maintain the development including its installations at the position that will retain or enhance the value of the domestic property, produce a safe, functional and conducive living terrain for inhabitants, keep or restore every installation in effective working order and in good state of form, and design a good appearance or image for the development. Ismail( 1996) regards domestic property operation responsibility as including all the necessary timber to insure the profitable and physical vitality of domestic property means.
Domestic property operation is also the operation of particular property, outfit, tooling and physical capital means that are acquired and used to make, repair and maintain the domestic property. Property operation involves the processes, systems and force needed to manage the life cycle of all public domestic property as defined above including accession, control, responsibility, responsibility, conservation, application and disposition( Njoku, 2006). According to Ebie( 2012), duties involved in domestic property operation generally will include a minimum of these introductory primary tasks
– The full and proper webbing or testing of an tenants aspirant’s credit, felonious history, rental history and capability to pay.
– Lease constricting or accepting rent using legal documents approved for the area in which the property is located.
– Mitigation and remediation regarding any conservation issues, generally within a budget, with previous or conveyed concurrence via a Limited Power of Attorney fairly agreed to by the property proprietor.
There are numerous angles to this domestic property operation, including managing the accounts and finances of the real estate/ domestic parcels, and sharing in or initiating action with tenants, contractors and insurance agencies. Action is at times considered a separate function, set away for trained attorneys. Although a person will be responsible for this in his/ her job description, there may be an attorney working under a property director. Special attention is given to landlord/ tenant law and utmost generally evictions, remitment, importunity, reduction ofpre-arranged services, and public nuisance are legal subjects that gain the most quantum of attention from domestic property directors. thus, it’s a necessity that a public domestic property director be current with applicable external, county, state and Federal Fair Housing laws and practices. In advanced countries, domestic property operation, like installation operation, is decreasingly eased by computer- backed installation operation( CAFM).
still, directors of domestic parcels in Nigeria are faced with colorful kinds of problems ranging from uncooperative station from workers, poor conservation and environmental condition, security and other introductory architectures. Some directors in Nigeria have been suitable to manage with some of these challenges but the experimenter will give an overview about the problem and prospects of domestic parcels operation fastening on Kaduna North Local Government Area.
Statement Of The Problem
According to Bello( 2008), domestic property is further than a bare sanctum; it includes all installations within and around it, embracing a pack of services which entails both product and process. operation of domestic structure embraces in all ramifications the conservation and development process, be it profitable, social, physical). In fact, operation of these parcels has been subject of focus by experimenter in recent times grounded on the clumsy nature of the process. The problem of poor operation of domestic parcels is a global miracle and the inflexibility of the problem differs from one nation to another. still, the experimenter is seeking to examine the problems and prospects of operation of domestic property in Kaduna North Local Government Area.
Objects Of The Study
The following are the objects of this study
1. To examine the problems of domestic parcels operation in Kaduna North Local Government Area.
2. To dissect the prospects of domestic parcels operation in Kaduna North Local Government Area.
3. To identify the result to the problems of domestic parcels operation in Kaduna North Local Government Area.
Exploration Questions
1. What are the problems of domestic parcels operation in Kaduna North Original Government Area?
2. What are the prospects of domestic parcels operation in Kaduna North Original Government Area?
3. What’s the result to the problems of domestic parcels operation in Kaduna North Original Government Area?
Significance Of The Study
The following are the significance of this study
1. The outgrowth of this study will educate the general public on the problems and prospects of managing domestic parcels in Nigeria emphasizing on its proper operation and some other operation challenges which will form a companion for estate directors in decision timber.
2. This exploration will also serve as a resource base to other scholars and experimenters interested in carrying out further exploration in this field latterly, if applied will go to an extent to give new explanation to the content.
Compass/ Limitations Of The Study
The compass of this study on the problems and prospects of domestic parcels operation in Kaduna North Local Government Area will cover all the introductory problems faced by directors in effective conservation of both the structure and finances generated on domestic property.
Limitation Of Study
fiscal constraint-inadequate fund tends to stymie the effectiveness of the experimenter in sourcing for the applicable accoutrements , literature or information and in the process of data collection( internet, questionnaire and interview).
Time constraint- The experimenter will contemporaneously engage in this study with other academic work. This accordingly will cut down on the time devoted for the exploration work.
Description Of Terms
operation the process of dealing with or controlling effects or people.
Domestic designed for people to live in.
Property a thing or effects belonging to someone; effects inclusively.
References
Bello,N.A.( 2008) The Economics of Land and Housing.( Revised Edition). Abeokuta DENAB Publication.
Ebie,S.P.O.F.( 2012) The Imperative of Social Housing in the South- South Region of Nigeria. The Estate Surveyor and Valuer.Vol. 37( 1). July- December 2012.
Ismail,I.( 1996) “ The functional Property operation Process in LargeNon-property Organization in Malaysia ” unpublishedPh.N. Thesis, University of Reading.
Kyle,R.C. and Baird,F.M.( 1995) “ Property Management ” Real Estate Education Company, Chicago, II.
Li,L.H.( 1997) “ Property Management in China openings and Problems ” Property Management.Vol. 15,No. 1.p. 6 – 11. MCB University Press ISSN 0263 – 7472.
Njoku,J.( 2006) “ Why ‘ Cash and Carry ’ Housing Transaction Persist ’. recaptured on29/4/2009 from http//www.library.hbs.edu/hbsonly_cgi.
Singh,G.( 1994) “Re-engineering property operation Sustaining Asset Value through Effective Property Management ” Conference of Property conservation and operation in the 90’s 30 – 31 May, Kuala Lumpur, Malaysia.
Singh,G.( 1996) “ Property Management in Malaysia ” Federal Publications, Malaysia,p. 4.
Wikipedia( 2015)www.wikipedia.com
Wong,K.S.( 1999) Property Management in Private Practice, Unpublished Lecture Notes, Kurus Pengunesan Hartanah dan installations 20 – 23, September, INSPEN
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