MANAGEMENT OF MULTI-TENANTED LOW-INCOME RESIDENTIAL PROPERTIES IN NIGERIA, A CASE STUDY OF ENUGU METROPOLIS, NIGERIA
Table Of Contents
<p> <b>TABLE OF CONTENTS</b></p><p>Title Page .. .. .. .. .. .. .............................................................................................................. .. .. .. i </p><p>Approval Page .. .. .. .. .. .. .......................................................................................................... .. .. ii </p><p>Certification.. .. .. .. .. ........................................................................................................... .. .. ... .. iii </p><p>Dedication .. .. .. .. .. .. .. ............................................................................................................. .. .. iv</p><p> Acknowledgments .. .. .. .. .. .. .................................................................................................... .. .. v </p><p>Table of Contents .. .. .. .. ................................................................................................... .. .. .. .. vi </p><p>List of Tables .. .. .. .. ........................................................................................................... .. .. .. .. x </p><p>Abstract .. .. .. .. .. .. ................................................................................................................. .. .. xii </p><p>
Chapter ONE
INTRODUCTION 1.1 Background of the Study .. .. .. .. .. .. ................................. 1</p><p> 1.2 Statement of the Problem.. .. .. .. .. ....................................................................................... .. 3</p><p> 1.3 Aim and Objectives of Study .. .. .. .................................................................................... .. .. 3 </p><p>1.4 Research Questions .. .. .. .............................................................................................. .. .. .. 3 </p><p>1.5 Statement of Hypotheses .. .. .. ..................................................................................... .. .. .. 4 </p><p>1.6 Significance of Study .. .. .. ............................................................................................ .. .. .. 4 </p><p>1.7 Scope of Study .. .. .. .. .. .. .................................................................................................. .. 5 </p><p>1.8 Overview of the Study .. .. .. .. .......................................................................................... .. .. 5 </p><p>Chapter TWO
LITERATURE REVIEW 2.0 Introduction .. .. .. .. .. .. .. ................................... .. 7 </p><p>2.1 Property as an Investment .. .. .. ....................................................................................... .. .. 7 </p><p>2.2 Property Management .. .. .. .. ........................................................................................ .. .. 12 </p><p>2.3 Property Maintenance .. .. .. .. .. ........................................................................................ .. 14 </p><p>2.4 Management of multi-tenanted low-income residential properties. .......................................15</p><p> 2.5 Objectives of management of multi-tenanted low-income residential properties .. .. .. .. .. .. .. 16</p><p> 2.6 Problems of management of multi-tenanted low-income residential properties .. .. .. .. .. .. .. 17 </p><p>2.7 Gains of effective management of multi-tenanted low-income properties .. .. .. .. .. ........... .. 21 </p><p>2.8 Types of Residential Properties .. .. .. .. .............................................................................. .. 22 </p><p>2.9 The need for maintenance .. .. .. ..................................................................................... .. .. 23 </p><p>2.10 Types of maintenance .. .. .. .. .. ........................................................................................ .. 25 </p><p>2.11 Functions of the property manager .. .. ........................................................................... .. .. 26 </p><p>2.12 Leases and Tenancies .. .. .. .. .. .. ........................................................................................ 29 </p><p>2.13 Nature and causes of problems in building .. .. .. ................................................................. 41</p><p>Chapter THREE
3.0 Research Methodology .. .. .. .. ......................................................... .. .. 45</p><p> 3.1 Sources of Data .. .. ............................................................................................... .. .. .. .. .. 45</p><p> 3.1.1 Primary Data .. .. .. .. .. .. .. ................................................................................................. 45</p><p> 3.1.2 Secondary Data .. .. .. ............................................................................................ .. .. .. .. 45</p><p> 3.2 Population of the Study .. .. ....................................................................................... .. .. .. .. 45 </p><p>3.3 Research Design .. .. .. .. .. ............................................................................................ .. .. 45 </p><p>3.4 Instrument of Data Collection .. .. ................................................................................. .. .. .. 46 </p><p>3.5 Validity and Reliability of Instrument .. ........................................................................ .. .. .. 46 </p><p>3.6 Method of Data Presentation and Analysis .. .. ............................................................... .. 47 </p><p>Chapter FOUR
4.0 Data Presentation and Analysis .. ............................................... .. .. .. 48</p><p> 4.1 Presentation and Analysis of Base Data .. .. ................................................................. .. 48 </p><p>4.1.1 Analysis of Questionnaire Returns .. ....................................................................... .. .. .. 48</p><p> 4.1.2 Personal Data of Respondents.. .. .. ........................................................................ .. .. 48 </p><p>4.2 Presentation and Analysis of Data on Research Question 1 .............................................. 52 </p><p>4.3 Presentation and Analysis of Data on Research Question 2 ............................................... 57</p><p> 4.4 Test of Hypothesis .. .. .. .. ............................................................................................... .. .. 63 </p><p> Chapter FIVE
5.0 Discussion, Findings, Recommendation and Conclusion .. ....................... 71</p><p> 5.1 Discussion .. .. .. .. .. .. .. ..................................................................................................... .. 71 </p><p>5.2 Findings .. .. .. .. .. .. .. .. ......................................................................................................... 72 </p><p>5.3 Conclusion .. .. .. .. .. .. .. ..................................................................................................... .. 73</p><p> 5.4 Recommendation .. .. .. .............................................................................................. .. .. .. .. 73 </p><p>References .. .. .. .. .. .......................................................................................................... .. .. .. 75 </p><p>Appendices .. .. .. .. .. .. .. .. ............................................................................................................. 78 <br></p>Project Abstract
ABSTRACT
Shelter has been universally accepted as the second most important essential human need after food. Housing in all its ramifications is more than mere shelter since it embraces all the social services and utilities that go to make a community or neighbourhood liveable environment. Efficient housing design is becoming increasingly imperative in Nigerian urban centres; this is because housing is an essential and fundamental component of the overall land use activities in both rural and urban centres. Besides, it has a tremendous positive influence on the health, safety and welfare (economic and social) of residents of any community. A country where the per capital income is at its lowest point, a low-income environment explains the low take home pay, which does not permit savings. It follows that where the poor manages to feed and may be, cloth himself and members of his family, he may never be able to pay his rents or own a house of his own. The study is an attempt to uncover the various constraints and prospects of management of low income residential properties in Nigeria using Enugu metropolis as a case study. Management of residential properties, not only covers rent collection, repairs and maintenance but also other aspects of good management. The importance of management of residential properties has become so technical that the knowledge and services of competent property managers are required to perform the task. The research adopted case study and serve research methods. The study was based on Enugu metropolis. The survey approach used a 47 item questionnaire that collected participants‟ perception of management of multi-tenanted low-income residential properties. Stratified random sampling technique was used in participant selection because of the difference in the characteristics of the samples. A total of 545 respondents who were either tenants residing in multi-tenanted low-income residential properties, estate surveyors and valuers, and some property owners were randomly selected. Only 436 out of the 545 participants responded, representing 80% of the distributed questionnaire. Being a survey design that tested the correctness of the observed frequency of responses, percentage distribution was initially used to describe the pattern of responses of the participants while non parametric binomial test statistics was used to test the statistical significance of the observation. Results of the study revealed that a significant number of the participants do not know what property management practices are and therefore it is not sought for or employed. Furthermore, a cross section of multi-tenanted low income yielding property owners prefers to manage their properties themselves. They also want to use new materials for aesthetic purposes or in effort to reduce construction cost do not have thought for future maintenance. Lack of fair rent to cover maintenance cost and non periodic rent to arrest the effect of galloping inflation in the economy poses a lot of problem for the property manager. This was seen by the fact that most participants supported the management of multi-tenanted low income residential properties. The research concluded that property management is as important as property development as the lack of it eventually diminishes the national housing stock, apart from constituting a waste of scare economic resources.
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