Design And Implementation Of Users Application Software For Estate Management Practice
This study was carried out to appraise the role of design and implementation of users application software for estate management or real estate practice, it is obvious that the society cannot exist without land, which is the bases for estate practice, and among the four factors of production, land is the most important, because every other factors exist on land.
- In chapter one of this study, we are going to look at the introduction of estate management or real estate practice, while
- Chapter two, which is literature review will deal with the concept of estate management, types of real estate, Nigerians real estate sector and government control mortgages in estate management and the problem of Nigerian estate management development.
- Chapter three will be based on system design and analysis of the current system, mode of data collection and problem of the existing system.
- Chapter four of this study will be concerned about system implementation and maintenance and program flowchart and finally
- Chapter five, will deals with the summary, conclusion and recommendation.
1.1 Background of the Study
Real estate has continued to play a significant role in man’s evolution. It is not a coincidence that food, shelter and clothing believed to be the three essentials that sustain mankind, also have some linkage to land. Food grows out of land while shelter is affixed to it, and man’s clothing is made largely from what grows out of land. Indeed, whether in ancient times or today’s modern system land constitutes a significant index for man’s wealth and as economic activities have assumed more sophistication over time, land has continued to play a central role in their development.
There is hardly any business venture that does not require to be supported by some form of real estate or estate management, from the small business that requires real estate as offices from where its business can be organized, to the major venture that needs it for its factory. Economics and management studies have long established that production is dependent on four factors, out of which land is one, along with labour, capital and entrepreneur. It therefore simply stands to reason that to be true to his professional responsibility every commercial/business lawyer ought to have a proper grasp of estate management practice or real estate law. The client needs advise on this in one form or the other, for land.
Elementary economics teaches us that where there is a lot of demand, prices are bound to go up. What has further complicated the graph is the fact that, although a natural endowment, land is not finite. It accounts for only 20% of the whole surface of the earth. Consequently, against this backdrop major economics, through some very robust and well thought out land policies comprehensively address challenges they encounter in the real estate sector. This is not exactly our situation here in Nigeria and the result is that there is a myriad of problems in our real estate sector.
Only very recently the minister of the federal capital territory announced the withdrawal of certificates of occupancy in the federal capital territory. Whether for good or bad, this is not intended have to pass judgment over this ministerial pronouncement. Rather, the aim is to draw attention to, and highlight some of the problems that are encountered in our estate management sector. In the course of this paper, the phrases “real estate”, “estate management” and “land” will be used interchangeably. After all, although not exactly synonymous, yet in its connotations, real estate means some connection to land.
The study, computer application in estate management practice in Nigeria, will be restricted to the real estate practice profession. Estate management is the direction and supervision of an interest in landed property. Landed property in this context includes real estate, which connotes property that is not moveable, such property includes land, building, structures, and river basin etc. computer evolved from the ancient use of counting with sticks, the use of the abacus, calculators and later, other form of electric computer. This project however be concerned with modern computer with such applications as the micro processor, e-mail, internet. The study covers such estate management function as property search etc.
1.3 Statement of Problem
Estate management exists for the purpose of achieving certain goals and objectives, we therefore to know? What role computer plays in real estate practice? What are the benefits of computers applications in real estate practice in Nigeria? What is/are the relationship between computer application and real estate practice?
1.4 Significance of Study
The purpose of this study is to examine the contributions, the application of computers in the estate management profession we have on real estate practices it is proper to accept that real estate will climb to a height with judicious and effective use of the computer. Hence, this study is committed to accept that real estate will climb to a height with judicious and effectives to examine the following-
Whether firms where computers are deployed enjoy greater satisfaction by way of increase of property sales, letting, purchases. To know whether with the use of computer, if time, money is conserved and efficiency are actually in property market transaction. To know what stage in property market, computers can be used.
1.5 Objective of the Study
It has been discovered over the years that in the property market (real estate) many have not availed themselves of the opportunity the computer offers. Besides, only very few people dare to investigate into this amorally. This is why this study is to bridge the gap and create more awareness and adaptability into the use and sustenance of computer application in real estate. Will in no small measure enhance the efficiency of service to customers and the role to the entire society.
1.6 Scope of Study
This study shall deal with the application of computer in real estate in the property market. It will cover the concept of computer, area of computer in real estate, different area of real estate practice will be highlighted and we shall know the percentage of real estate firm who make use of computer and how they carry out their function using the computer.
1.7 Limitation and Delimitation of the Study
Real estate types can be categorized as follows-
Agriculture real estate:
These are used for the cultivation of crops and rearing of animals, example, farm land, farm houses, rancher, orchard etc.
These factors that may affect the value of agricultural properties are.
- Availability of nearby market where the farm produces will be disposed off.
- The topography of the land and climate of the district
- The size of the holding. Generally a smaller farm will yield a high next per hectare than a large one.
- National features such as types and condition of the soil, level of the water table, and the type or condition of hedges.
- The condition of fences and approach roads and efficiency of land drainage.
- Availability of services such as water supply to the main drainage and electricity to farm building.
Industrial real estate:
In this category are every class of property primarily used for the production of goods and service, example factories and warehouse. Location in relation to transport system availability of labour, market, and raw materials are important factors including-
Construction condition and facilities of the building example car parking etc.
The general layout of the buildings. The building should have good facilities for delivery and dispatch of goods, storage and handling.
Provision of facilities for employees such as car parking, canters and social areas (e.g. bars and games centre)
Residential real estate:
They are classes of building that provide living accommodations for people. They include living flats, duplex, missonatte, bungalows, detached house, tenement building etc. They can be found in urban and rural areas, some of those properties which are found in urban slums and in some rural settings constitute the poorest living conditions because they lack modern amenities. Consequently, they are subject to create control by the government especially in urban center.
Commercial real estate:
They are let or develop purely for commercial purpose and their value depends on their locations rather than on the building or on the lease. Hence, the properties which are located in the center of cities or towns are regarded as very secure investment with evidence of capital appreciation. The management involve little difficulty because the business tenants meet their obligations.
Nevertheless, decline in the economic values of central areas and consequent charges in the transport system often off-set the locational value of commercial properties. Commercial properties comprise a lot of shops and department stores, petrol and service garage market and market stores, trade fair, site etc.
Recreation real estate:
For example, amusement parks, relaxation spots and old spaces, tourist centers, hotels, game reserves, clubs and museums. Their attributes affect values through facilities provided, size etc.
Special real estate:
The special properties are variety of properties whose income depends wholly on the use and efficiency of their business management some of those properties such as that provide boarding facilities have speculative income while others such as entertainment properties have fluctuating income due to ragged in their functions. They composed of hotels, restaurants, public premises, theatres, finished apartment and other specialized apartment.
1.8 Definition Of Terms
This include real property i.e land, building, estate. It is the bundle of rights and benefits derived from something owned to the exclusion of all other persons.
A network of dealing in any factor or product between buying and selling.
A device or calculating machine which caries out a wide variety of operations under the control of a set of instructions (called programs) stored in its memory.
A legal entity denoting the character and quality of lights that an owner posses in a landed property.
The science of organization and operations or at the practice level, act of directing and conducting affairs.
Any program or group of instructions, which can be used to control a computer and its associated hardware to carry out tasks.
5.0 Summary, Conclusion and Recommendations
It has been discovered over the years that in the property market (Estate management) many have not availed themselves of the opportunity the computer offers. Besides, only very few people dare to investigation into this anomaly. This is why this study is to bridge the gap and create more awareness and adaptability into the use and sustenance of computer application in real estate. Will in no small measure enhance the efficiency of services to customers and the role to the entire socially.
Land and economic development share a symbiotic relationship. Nigeria’s land policies in the past were clearly informed by a monopolistic economic system. Following its failure, we are entering a free market regime. While reforms are going on for a legal and regulatory framework to support this, the legal framework for our land system remains unchanged and much needed activity in our real estate management sector is yet to be fact. This paper has attempted to draw attention to some of these problems, obviously because of space and time constraint, we cannot exhaust discussions on all of the problems. It is however hoped that government would as a matter of urgency make the necessary reforms needed to support the sectors development.
The following recommendations are suggested in order to come act with a real estate management development that will lead the economy of this country to their promise land.
Mortgage banks should be encouraged to improve their capital base in order to empower them for greater effectiveness in financing real estate. This will afford them wider coverage and enable them access greater pools of funds.
The FMBN, PMIs, NSE and other stakeholders should hasten the operationalization of the secondary mortgage market (SMM) as a means of mobilizing more funds for mortgage organization and encouraging greater efficiency in the sector. The potentials are great with the new pension reforms and emergency of estate management investment trusts (REITS) as a wider market of potential investors in mortgage backed securities is gradually building up. Full operation of the SMM will boost liquidity and make the market more competitive and eventually reduce cost to mortgagors. Necessary legal and regulatory frameworks should be properly designed and put in place while existing laws that constitute potential obstacles should be reviewed accordingly. Illustration of the advantages of such moves can be seen in recent developments in the UK and USA markets. In the UK, saturation of the main market has prompted is relaxation of mortgage lending oils to accommodate people normally regarded as high risk prospects. In 2004, $41.2bn starting was lent to persons in this category an increase of 9% over the previous year (Data monitor, 2004 as reported in financial standard of 15 may, 2006). As a result, house sales have increased by 37% in England over least years rate. In the USA, a new trend has begun of longer term mortgage lending of up to 50 years as against former average of 25 years. This is because prices of homes have increased and buyers need a longer time horizon is order to keep installment payments within affordable range. Although such long term borrowing is risky in a variable rate environment, the fact that such a pattern has emerged can be interpreted as one of the dividends of a competitive mortgage environment responsive to market needs.
On the micro scale, there is needed to hasten the review of the land use act to provide adequate recognition of the types of interest and transactions that would emerge in the new dispensation. Land titles need to be made cleaner and more fungible. The present incorporate of IT- enabled record keeping and land data management is a step in the right direction but state governments need to perceive the broader advantage of relaxed land market controls as against myopic treatment of land matters only in terms of revenue generation. In this regard, consent to transactions should be cheaper and less cumbersome to obtain.
Mortgage banks should be encouraged to desist from distraction activity LPO financing, short term commercial lending etc. perhaps the central banks monitoring arm can put a framework in place to ensure this.
Mortgage banks should also create more public awareness of their products and endeavour to attract patronage across a broader section of society than hitherto. This will require opening branches where prospective customers are and providing publicity/information materials in local languages which people can easily understand.
Mortgage banks should also better position themselves to be able to access off show funds either through partnership arrangement similar to one which was recently initiated between guardian express assurance limited, Howell Campell and Associates and First Premier Mortgage Corporation, Maryland, USA to market a mortgage plan to assist time ownership in Nigeria. Subscribers are expected to save up to 25% of the cost of any house they wish to acquire up to N15 million over a period of 36 to 60 mouths. Guardian express will then finance the 75% balance, which the subscriber will be expected to repay over a period of 10 to 15 years.
NIESV (Nigeria Estate Surveyors) and estate surveyors in general need to empower themselves to be more practice as imitators, through consult only services, of real estate investments on larges scale than have been seen so far. There should be more collaboration between NIESV and stakeholders in the industry in the shaping of policies and monitoring of their implementation. Also, greater involvement in the packaging of real estate development schemes, loan sourcing etc is called for in fact, there are no better professionals to embark on real estate development than estate surveyors who, by training and experience, have better understanding of all the issues involved than others in the building industry.
Design And Implementation Of Users Application Software For Estate Management Practice
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