Problems Of Property Management And Its Solutions In Nigeria

Problems Of Property Management And Its Solutions In Nigeria

Abstract

Property operation is a vital aspect of real estate profession. To anon-professional estate agent property operation entails only articulation collection and receiving of figure, but there are other aspects of it which input the moxie of a professional Estate agent to task. These include opting the right type of tenant for a particular property arrangement and prosecution of plats, advising on insurance policy and standing assessment and icing that they’re settled regularly, defining conservation obligation of both the land lord and the tenant.

Beside all these, there are so numerous problem associated with property operation which ranges from station of the land lord affectation, political and profitable factors, particular circumstance of individualities parcelsetc.

This study will thus examine these problems and proffer results.

Proffer Solution It’s the responsibility of the manger to insure that the blights are duly repaired. In a situation where the operation agent is responsible for conservation of the property, the agent must be veritably prudent with conservation cost, and insure that customer admit good value of theirmoney.However, the director will or have to introduce the service charge approach for conservation work, If it’s multiple engaged parcels.

Chapter One

Preface

Property operation to a non – Professional Estate agent entails bare collection rent.

Real property operation goes beyond bare collection of rent. A property manger gets involved with directorial problem working and decision timber. He also performs several conditioning and tasks involving planning, organising, directing and controlling with respect to the portfolio of real estate means being managed on behalf of his guests.

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

Because of the adding pace of technological development or inventions performing particularly in the construction of high rise and high technological structures in our metropolises, there’s need for a trained director who’s suitable to manage effectively and efficiently with operation problems arising from the ultimate.

Multi – tenanted parcels similar as office blocks and domestic houses present the topmost operation challenge to the surveyor.

The author’s experience ofnon-challant station of a good number of property investors regarding the operation of the property urged the choice of this content

Objects Of The Study

The study will examine the problems of property operation, and proffer results towards amending these problems

compass

This design will be limited to a many named property in Abuja metropole, which includes.

1. Shelter House

2. AlajiM.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

Study Methodology

This study is grounded on data collected by the following styles

1. Primary system

2. Secondary system

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

It involves the particular interview of professional.

Secondary Method Secondary data are those collected from preliminarily published workshop(e.g.) Journals, journals, magazinesetc.

Defintiion Of Property Operation

Michael Thorncraft defined property operation as the direction and supervision of an interest in landed property with the end of securing the optimum return. This return, which may not always be fiscal may also be in the form of social benefit, status, prestige, political strengthetc.

JohnP. Macey and Charles Baker defined property operation as the operation of skill in minding for property. Its girding 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’s 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 give a home, the focal point of full and happy life for the family.