Landlord and tenant relationship, its effects on property values in owerri urban of imo state

Project Abstract

The relationship between landlords and tenants plays a crucial role in determining property values in urban areas like Owerri in Imo State, Nigeria. This study aims to explore the effects of the landlord and tenant relationship on property values in Owerri urban. The research will investigate various factors that influence this relationship, such as rent agreements, property maintenance, landlord-tenant communication, and tenant satisfaction. The study will utilize a mixed-methods approach, combining qualitative interviews with landlords and tenants, as well as quantitative analysis of property values in different areas of Owerri urban. The qualitative interviews will provide insights into the experiences and perspectives of landlords and tenants regarding their relationship and its impact on property values. On the other hand, the quantitative analysis will examine the correlation between the quality of the landlord-tenant relationship and property values in different neighborhoods of Owerri urban. The findings of this research are expected to shed light on the significance of the landlord and tenant relationship in influencing property values in Owerri urban. By understanding the factors that contribute to a positive or negative relationship between landlords and tenants, property owners and real estate professionals can make informed decisions to enhance property values and improve overall tenant satisfaction. Moreover, the study will contribute to the existing literature on real estate management and urban development by highlighting the importance of fostering positive landlord-tenant relationships for sustainable property values. The research findings can also inform policy recommendations aimed at improving landlord-tenant dynamics and promoting a healthy real estate market in Owerri and similar urban areas. In conclusion, this research project will provide valuable insights into the effects of the landlord and tenant relationship on property values in Owerri urban of Imo State. By examining the various factors that influence this relationship and its impact on property values, the study aims to contribute to a better understanding of real estate dynamics in urban areas and provide practical recommendations for stakeholders in the property market.

Project Overview

<p> </p><p><b>1.0 &nbsp; &nbsp; INTRODUCTION:</b></p><p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Admassiey. (1995), The purpose of this<br>article is to analysze the impact of a landlord and tenant ordinance (LTTO) on<br>property values, using time series data for the city of Evanston, Illinois,<br>where the ordinance has been enacted since 1975. The empirical data analysis,<br>which includes a trend analysis of heroin price indices for both rental and<br>owner-occupied property has shown that L.T.O is not likely to significantly<br>affect HOUSING VALUES. Those remedies provided in the landlord and tenant<br>ordinance are not likely to be radical departures from the current practices<br>such as housing / building code, and can therefore not be expected to affect<br>housing values substantly.</p><p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; This research was supported by a grant<br>from the office if Real Estate Research at the university of Illinois.<br>We acknowledge helpful comments from professor peter colwell, and the good<br>research assistance of Theresa Cherniak and Michael Duncan.</p><p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Acting in landlord and tenant malters<br>for commercial owners or occupiers requires knowledge of legislation (such as<br>the landlord and tenant Act 1954) and case law as well as and understanding<br>other commercial property.</p><p>JH<br>Walter has a rich supply of comparable evidence on which to draw to establish a<br>verifiable basis for rent review or lease renewal backed by the experience of<br>our surveyors whi are also active agents in the market place. Brought together<br>with technical and legal data, this make us well placed to negotiate the best<br>deal for our clients whatever the market conditions while giving realistic<br>advice about the possible outcome of dispute resolution.</p><p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Restructuring of lease can prove an<br>attractive proposition for both landlord and tenant. We offer advice to ensure<br>that clients pay and receive compensation at appropriate levels to reflect<br>changing rental income, lease term and capital value. At lease expiry, both<br>owners and occupiers seek our support in dilapidations claims. (Dilapidation:<br>the extent to which the property falls short of the repairing obligations of<br>lease). We negotiate claims including guidance on the distinction between<br>repair and improvement and the limit of tenant liability on claims where<br>diminution in value (Lost Value) is less than the cost of repair. We advised in<br>rent review of a prominent shop in an unusual retail pitch but one attractive<br>to specialist retailers. Gathering evidence form nearby lettings and other<br>reviews, we helped our client understanding the opportunities and argument<br>possible including adjustments for location, return frontage, unusual layout<br>and repairing obligation beyond matters of value, we gave guidance on required<br>notices and issues of timing in connection with other rights and obligations in<br>the lease.</p><p><b>HISTORY</b></p><p>The<br>landlord and tenant relationship is defined by existence of a leasehold estate.</p><p>i &nbsp; &nbsp; Traditionally,<br>the only, obligation of the landlord in the united states was to grant the<br>estate to the tenant.</p><p>ii &nbsp; &nbsp; Although<br>in England and Wales,<br>it has been clear since 1829 that a landlord must put a tenant into possession.</p><p>iii &nbsp; Modern<br>landlord – tenant law includes a number of other rights and duties have been<br>codified in the uniform presidential landlord and tenant Act.</p><p><b>1.2 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br></b><b>STATEMENT<br>OF PROBLEM</b></p><p>1) &nbsp; &nbsp; An<br>essential ingredient in the achievement of the objective of landlord and tenant<br>in entering into contract is cordial relationship although the interest of the<br>parties are not mutually exclusive, conflict in the relationship can prevent<br>landlord from earning a fair returns on his investment in the property just as<br>the desire of the tenant to derive maximum utility from occupation will also<br>suffer defeat, the society will be worse of it.</p><p>2) &nbsp; &nbsp; Therefore<br>to give opportunity to all ranks of interests associate with the particular<br>property to be exercised without friction the lease sets landlord and tenant.</p><p>3) &nbsp; &nbsp; The<br>landlord nor the tenant meets his obligations under the lease because with the<br>steady fall in the real value of his income the tenant finds it difficult to<br>pay his rent promptly or sufficiently of utility bills. The obvious consequence<br>is conflict in relationship between landlord and tenant.</p><p><b>1.3 AIM AND OBJECTIVES</b></p><p>The<br>main aim of this study is to proffer resolution of conflict which has being in<br>existence between landlord and tenant relationship.</p><p>1.<br>To ascertain causes of conflict in landlord and tenant relationship.</p><p>2.<br>Identify methods adopted in resolution of these conflicts</p><p>3.<br>Identify and recommend ways of improving resolution of conflicts</p><p>in<br>landlord and tenant relationship.</p><p><b>1.4 RESEARCH QUESTIONS</b></p><p>This<br>study was undertaking to address the following research question.</p><p>1.<br>What constitute a landlord and tenant?</p><p>2.<br>What are the causes of conflict in landlord and tenant relationship?</p><p>3.<br>What art h method to b adopted in conflict resolution.</p><p><b>1.5 &nbsp; &nbsp; SIGNIFICANC OF TH STUDY</b></p><p>&nbsp; &nbsp; &nbsp; i. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Certificate or other document relating<br>to any land, lease, or change.</p><p>&nbsp; &nbsp; ii. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Summon any person to appear before him<br>and give information relating to any land, lease, or change in question.</p><p>&nbsp;iii. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Refuse an application for registration<br>where any instrument, certificate plan or other document has not been produced<br>pursuant to paragraph or where an act required by the Registrar to be performed<br>has not been performed</p><p>&nbsp;iv. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Administer Oaths or affirmations.</p><p>&nbsp; &nbsp; v. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <br>Require that any proceedings,<br>information or explanation be conducted or given on Oath, as the case may be.</p><p><b>1.6 &nbsp; &nbsp; SCOPE OF THE STUDY</b></p><p>After<br>the coming into force of this act, land a lease or a charge registered under<br>this Act may not be disposed off, except in accordance with this Act, and nay<br>disposition, except under this Act for the purpose of creating, transferring,<br>varying or affecting any estate, right or interest in any land, lease or charge<br>is of no effect.</p><p>Nothing<br>in section 40 shall be construed as preventing an unregistered instrument form<br>operating as a contract, but no action may be brought upon any contract for the<br>sale or other disposition of land or any interest in land, unless the agreement<br>upon while such action is brought or some memorandum or note thereof is in<br>writing and signed by the party to be charged or by some other person there<br>unto by him lawfully authorized.</p> <br><p></p>