1.1 BACKGROUND OF STUDY
The issue of property management has persisted in the Nigeria society for quite sometime. Property management is the art and science of real estate with respect to it’s development, maintenance, cash flow from users and occupiers in order to achieve optimum benefits for the owner and all parties interested in the property within the ambit of relevant laws.
It is observed that for many years. most properties have lacked proper management due to absence of qualified property managers who are professionally equipped to handle property management.
Many property owners (Landlords) do not usually engage the services of estate surveyors and valuers. They appoint “caretakers” to look after or take care of their properties. These caretakers in turn have limited powers as they can only collect rent from tenants and engage in minor repairs of the properties. Moreover, they are mostly laymen and not trained in estate management. This has affected the value of some properties in the market.
Therefore, the ability of a property to yield highest returns and posses a long physical and economic life depends on good property management. Good property management has transcended ordinary maintenance of property based on tenant’s complaints and graduated into purposeful planning of building services and efficient accounting system with due regard to the legal, economic and social interests of the tenants and Landlord alike.
If we look around and study some of the multi-storey and public properties in some of our state capitals, most especially Awka, one can easily distinguish between the well managed and the neglected ones.
Proper management of our landed properties is as important as the construction of these properties and it is vital to the economics, historical, social and cultural development of our nation and it should be accorded its due importance both privately and publicly
TABLE OF CONTENTS
1.1 Background of study
1.2 Statement of the problem
1.3 Objectives of the study
1.4 Significance of the study
1.5 Scope of the study
1.6 Limitations of the study
2.0 Literature Review
2.1 Meaning/Concepts of property
2.2 Meaning of Management
2.3 Concepts/Meaning of property management
2.4 Concepts of value
2.5 Rental values of commercial properties
2.6 Landed properties and management
2.7 Types of landed properties
2.8 Characteristics of landed property investment
2.9 Factors affecting property values
2.10 Methods of determining value
2.11 Obsolescence (concepts)
2.12 Problems of public property management in Nigeria
3.0 Research Methodology
3.1 Sources of data
3.2 Data collection method
4.0 Data presentation and Analysis
5.0 Findings, Recommendation and Conclusion
5.1 Finding generally