Landlord And Tenant Relationship, Its Effects On Property Values In Owerri Urban Of Imo State

Project and Seminar Material for Estate Management

Landlord And Tenant Relationship, Its Effects On Property Values In Owerri Urban Of Imo State


Abstract


In long-term business relationships the customer experience is affected by how the customer perceives the quality of customer relationship. The purpose of this paper is to understand the customer relationship quality construct in tenant relationships in a business-to-business environment.

Methodology / Approach:

The theoretical framework is adapted from relationship marketing literature and this is then applied in case study settings to five customer companies in a landlord and tenant relationship. The paper framework of 13 relationship quality attributes and applies these to the case companies. Findings: The results suggest that some of the suggested relationship quality attributes have an importance in a landlord relationship while some suggested attributes have less value.

Research limitations / implications:-

The case studies were conducted in companies that occupy office premises in multi-user.

Originality / Value:

This paper introduces theoretical understanding from relationship marketing literature into the real estate and adds practical understanding of customer relationship management into the rental business.


Table of Contents


Chapter One

Introduction

  • 1.1 Background of study
  • 1.2 Statement of problem
  • 1.3 Aim and objectives,
  • 1.4 Research questions
  • 1.5 Significant of the study
  • 1.6 Scope of the study

Chapter Two

2.0 Literature Review

  • 2.1 Guidelines for tenants
  • 2.2 Landlord-Tenant Relationship defined
  • 2.3 A landlord- Tenant Relationship checklist communication – a critical skill
  • 2.4 Landlord – Tenant
  • 2.5 Landlord – Tenant Relationship
  • 2.6 Landlord – Tenant Responsibilities
  • 2.7 Landlord – Tenant Relationship: Rent increase
  • 2.8 Managing Landlord – Tenant Relationship: A strategic perspective.
  • 2.9 Recovery of premises: An assessment of Landlord – Tenant law in Nigeria.
  • 2.10 Changes not only will affect Landlord, tenants, but could alter property values too.
  • 2.11 The tenant’s property.

Chapter Three

3.0 Research Methodology

  • 3.1 Research design
  • 3.2 Method of data collection
  • 3.3 Sample size
  • 3.4 The sampling technique
  • 3.5 Data Analysis technique

Chapter Four

4.0 Presentation and Analysis of Data

  • 4.1 Data presentation
  • 4.2 Hypothesis

Chapter Five

5.0 Summary, Conclusion and Recommendation

  • 5.1 Summary of findings
  • 5.2 Conclusion
  • 5.3 Recommendation
  • References
  • Questionnaire

Chapter One


1.0 Introduction

1.1 Background of Study

Admassiey. (1995), The purpose of this article is to analyze the impact of a landlord and tenant ordinance (LTTO) on property values, using time series data for the city of Evanston, Illinois, where the ordinance has been enacted since 1975. The empirical data analysis, which includes a trend analysis of heroin price indices for both rental and owner-occupied property has shown that L.T.O is not likely to significantly affect HOUSING VALUES. Those remedies provided in the landlord and tenant ordinance are not likely to be radical departures from the current practices such as housing / building code, and can therefore not be expected to affect housing values substantially.

This research was supported by a grant from the office if Real Estate Research at the university of Illinois. We acknowledge helpful comments from professor peter colwell, and the good research assistance of Theresa Cherniak and Michael Duncan.

Acting in landlord and tenant malters for commercial owners or occupiers requires knowledge of legislation (such as the landlord and tenant Act 1954) and case law as well as and understanding other commercial property.

JH Walter has a rich supply of comparable evidence on which to draw to establish a verifiable basis for rent review or lease renewal backed by the experience of our surveyors which are also active agents in the market place. Brought together with technical and legal data, this make us well placed to negotiate the best deal for our clients whatever the market conditions while giving realistic advice about the possible outcome of dispute resolution.

Restructuring of lease can prove an attractive proposition for both landlord and tenant. We offer advice to ensure that clients pay and receive compensation at appropriate levels to reflect changing rental income, lease term and capital value. At lease expiry, both owners and occupiers seek our support in dilapidation claims. (Dilapidation: the extent to which the property falls short of the repairing obligations of lease). We negotiate claims including guidance on the distinction between repair and improvement and the limit of tenant liability on claims where diminution in value (Lost Value) is less than the cost of repair. We advised in rent review of a prominent shop in an unusual retail pitch but one attractive to specialist retailers. Gathering evidence form nearby lettings and other reviews, we helped our client understanding the opportunities and argument possible including adjustments for location, return frontage, unusual layout and repairing obligation beyond matters of value, we gave guidance on required notices and issues of timing in connection with other rights and obligations in the lease.

History

The landlord and tenant relationship is defined by existence of a leasehold estate.

  1. Traditionally, the only, obligation of the landlord in the united states was to grant the estate to the tenant.
  2. Although in England and Wales, it has been clear since 1829 that a landlord must put a tenant into possession.
  3. Modern landlord – tenant law includes a number of other rights and duties have been codified in the uniform presidential landlord and tenant Act.

1.2 Statement of Problem

  1. An essential ingredient in the achievement of the objective of landlord and tenant in entering into contract is cordial relationship although the interest of the parties are not mutually exclusive, conflict in the relationship can prevent landlord from earning a fair returns on his investment in the property just as the desire of the tenant to derive maximum utility from occupation will also suffer defeat, the society will be worse of it.
  2. Therefore to give opportunity to all ranks of interests associate with the particular property to be exercised without friction the lease sets landlord and tenant.
  3. The landlord nor the tenant meets his obligations under the lease because with the steady fall in the real value of his income the tenant finds it difficult to pay his rent promptly or sufficiently of utility bills. The obvious consequence is conflict in relationship between landlord and tenant.

1.3 Aim and Objectives

The main aim of this study is to proffer resolution of conflict which has being in existence between landlord and tenant relationship.

  1. To ascertain causes of conflict in landlord and tenant relationship.
  2. Identify methods adopted in resolution of these conflicts
  3. Identify and recommend ways of improving resolution of conflicts
  4. in landlord and tenant relationship.

1.4 Research Questions

This study was undertaking to address the following research question.

  1. What constitute a landlord and tenant?
  2. What are the causes of conflict in landlord and tenant relationship?
  3. What art h method to b adopted in conflict resolution.

1.5 Significance of the Study

Certificate or other document relating to any land, lease, or change.

Summon any person to appear before him and give information relating to any land, lease, or change in question.
Refuse an application for registration where any instrument, certificate plan or other document has not been produced pursuant to paragraph or where an act required by the Registrar to be performed has not been performed
Administer Oaths or affirmations.

Require that any proceedings, information or explanation be conducted or given on Oath, as the case may be.


1.6 Scope of the Study

After the coming into force of this act, land a lease or a charge registered under this Act may not be disposed off, except in accordance with this Act, and nay disposition, except under this Act for the purpose of creating, transferring, varying or affecting any estate, right or interest in any land, lease or charge is of no effect.

Nothing in section 40 shall be construed as preventing an unregistered instrument form operating as a contract, but no action may be brought upon any contract for the sale or other disposition of land or any interest in land, unless the agreement upon while such action is brought or some memorandum or note thereof is in writing and signed by the party to be charged or by some other person there unto by him lawfully authorized.


Chapter Five


5.0 Summary, Conclusion and Recommendation

5.1 Summary

As elsewhere in Nigeria land is a major socio-economic asset of tremendous importance. The way rights related to land are defined influences how land resources are used and, hence, economic growth. The present day Nigeria is surely well aware of this determining fact and hence land related property is regulated by the country’s most supreme law, ie the constitution. In addition to this decisive measure, the country has introduced some policy changes since 1991: the frequency of land redistribution is highly reduced, various ways of transfer of real property are defined; some land laws are issued, and rural landlord-tenant relationship and certification is introduced with an obvious developing interest and commitment. In an increasingly industrialized and customer oriented society that placed more value on the tenant’s rights and landlords with multiple obligations. The statutes and case law established and supported these. For example, courts rarely allowed forfeiture of the lease for non payment of rent, if some tender of the sum due was made prior to the eviction. Furthermore, the landlord and tenant legal relationship has become more and more complicated as societal issues have become more prominent, such as environmental laws, the rights of dis-advantaged people and lending and bankruptcy law complexity.

Landlords in San Francisco face unique issues due to the restrictions placed on them by San Francisco Residential rent stabilization and Arbitration ordinance, or commonly known as the rent control ordinance. The majority of tenants in san Francisco are covered by the Rent control ordinance which limits the amount that landlords can increase a tenants rent each year and severely limits the landlords ability to terminate a tenancy.


5.2 Conclusion

Although rent controlled tenants enjoy lower rents, there are negatives for the tenant too under this system. landlords are not likely to make unnecessary improvements to rent controlled units and often times put off making improvements to the building as a whole. Repairs and maintenance are often kept to a bare minimum and cosmetic improvements such as new carpet and paint are rarely undertaken.

Tenants can also suffer if one of their neighbours is creating a nuisance-playing loud music, late into the night or other undesirable behaviour. It is extremely difficult to evict a bad tenant that is bothering everyone else in the building as that tenant is protected by the rent control ordinance too.

Roommate changes are an area of rent control in San Francisco where landlords should proceed with caution, the rent control ordinance dictates that landlords must allow tenants to replace one roommate with another,.

However, “Aladinma property manager” advises that new roommates be treated as “unauthorized subtenants”. The landlords should not acknowledge the new roommate in any way-do not take an application, accept a rent check, or respond to the new tenant verbally or in writing. The original tenants on the lease are considered “master tenants” and once all the master tenants have vacated the property the remaining unauthorized subtenant are not covered by much of the rent control ordinance – thus allowing the landlord to raise the rent to fair market value.


5.3 Recommendation

The Aladinma with its master tenants, unauthorized sub-tenants, and other rules can lead to many unintended and undesirable consequences for landlords who are not familiar with the ordinance making even a small mistake could end up being a costly blunder. Becoming familiar with the rent control ordinance is a must for all San Francisco Landlords.

A proposed revision of the financial Accounting Standards Board (FASB) rules affecting accounting leases, a section earlier called GAS 13, will profoundly affect the way both landlords and tenants treats leases, and it could affect property values, according to a report by the CCIM institute. FASB is a basis for the generally accepted accounting principles, or GAAP, in the United states. Relationships between tenants and landlords can be enhanced if the parties improve their communication skills, make communication goals oriented, approach communication with a positive and creative attitude, and work to reduce barriers.

Relationships are an important and often under appreciated source of risk for Ohio farmers and their landlords. For the landowners, an effective relationship management strategy helps ensure that her investment (or other) goals for the farm land are reached. For the producer, it is fundamentally important to his security of tenure. For both parties, it prevents or mitigates the “costs” of conflict and disagreement. Finally, in an environment characterized by strong competition for leased acreage, superior relationships provide farmers with a potential source of sustainable competitive advantage.


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