CHALLENGES OF MANAGEMENT OF PUBLIC RESIDENTIAL PROPERTIES IN NIGERIA
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CHALLENGES OF MANAGEMENT OF PUBLIC RESIDENTIAL PROPERTIES IN NIGERIA
CHAPITRE ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In its broadest sense, public residential property management involves the operation, control, and oversight of real estate. Management means that it must be cared for, monitored, and held accountable for its useful life and condition. This is similar to the managerial job in any firm (Wikipedia, 2015).
Personal property, equipment, tooling, and physical capital assets acquired and used to create, repair, and maintain public residential property are also managed by public residential property management.
Property management refers to the processes, methods, and personnel required to manage the life cycle of all public residential property as outlined above,
which includes acquisition, control, accountability, responsibility, maintenance, utilisation, and disposition (Njoku, 2006). According to Ebie (2012), duties in public residential property management will often entail a subset of these basic primary functions.
– A thorough examination of a tenant’s or applicant’s credit, criminal history, rental history, and ability to pay.
– Lease negotiating or receiving rent using legal paperwork permitted for the property’s location.
– Mitigation and remediation of any maintenance difficulties, often within a budget, with the property owner’s previous or communicated approval via a Limited Power of Attorney lawfully consented to.
This public residential property management has numerous dimensions, including handling the accounts and finances of the real estate/residential properties, as well as participating in or starting litigation with renters, contractors, and insurance agencies. Litigation is sometimes regarded as a separate duty, reserved for skilled solicitors.
Although this will be part of a person’s job description, an attorney may be working under a property manager. Landlord/tenant legislation is given special attention, and evictions,
non-payment, harassment, decrease of pre-arranged services, and public nuisance are the legal matters that receive the most attention from public residential property management.
As a result, a public residential property manager must be up to date on applicable municipal, county, state, and federal Fair Housing legislation and practises. In sophisticated countries, computer-aided facility management (CAFM) is progressively facilitating public residential property management, as well as facility management.
Managers of public residential buildings in Nigeria, on the other hand, confront a variety of issues, including recalcitrant personnel, inadequate maintenance and environmental conditions, security, and other essential infrastructures.
Some Nigerian managers have been able to deal with some of these obstacles, but the researcher will present an overview of the issues and how public residential buildings can be managed efficiently.
1.2 STATEMENT OF THE PROBLEM
According to Bello (2008), public residential properties are more than just a place to live; they include all facilities within and around them, encompassing a package of services that encompasses both product and process. Management of public residential buildings encompasses all aspects of the maintenance and development process (economic, social, and physical).
Indeed, due to the time-consuming nature of the procedure, researchers have recently focused on the management of these features. The issue of bad management of public residential buildings is a global phenomena, and the severity of the problem varies by country. However, the researcher wishes to investigate the issues of managing public residential property in Nigeria.
1.3 OBJECTIVES OF THE STUDY
The following are the study’s objectives:
1. To investigate the difficulties in managing public residential properties in Nigeria.
2. To investigate the impact of effective management on the value of public residential property.
3. To find a solution to Nigeria’s challenges with public residential property administration.
1.4 RESEARCH QUESTIONS
1. What are the difficulties in managing public residential properties in Nigeria?
2. What effect does efficient management of public residential property have on its value?
3. What are the answers to Nigeria’s challenges with public residential property management?
1.6 SIGNIFICANCE OF THE STUDY
The following are the study’s implications:
1. The findings of this study will educate the general public about the complexities of public residential properties in Nigeria, with an emphasis on correct management and other management difficulties that will serve as a guide for estate managers in decision making.
2. This research will also serve as a resource base for other academics and researchers interested in conducting additional research in this sector in the future, and if implemented, will go so far as to provide new explanations for the topic.
1.7 SCOPE AND LIMITATIONS OF THE STUDY
The scope of this study on the challenges of managing public residential properties in Nigeria will address all of the fundamental issues that managers encounter in effectively maintaining both the infrastructure and the funds generated by it.
STUDY LIMITATIONS
Financial constraint- A lack of funds tends to restrict the researcher’s efficiency in locating relevant materials, literature, or information, as well as in the data collection procedure (internet, questionnaire, and interview).
Time constraint- The researcher will conduct this investigation alongside other academic activities. As a result, the amount of time spent on research will be reduced.
1.8 DEFINITION OF TERMS
The process of dealing with or controlling objects or people is referred to as management.
Residential: intended for human habitation.
A property or things that belong to someone; possessions collectively.
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