Problems And Solutions Of Property Management In Nigeria

Project and Seminar Material for Estate Management

Problems And Solutions Of Property Management In Nigeria


Abstract


This study is on problems of property management and solution. The research which is captioned “Residential Housing Problems in Anambra State (A Case Study of Onitsha Metropolis) was targeted at portraying the causes of housing deficit alongside its attendant effects on the populace with regards to habitable housing (Residential Properties). The roles of the public sector in housing development through its Ministries, Department and Agencies (MDA) were also highlighted in cognizance to the Federal Mortgage Bank of Nigeria. Owing to the fact that housing problems are overwhelming, ranging from over-crowding, shortage of housing supply etc. The researcher adopted both the primary and secondary methods of data collection. I found that the low income earners were the one’s mostly affected by housing problems and Onitsha being the commercial hub of Anambra State, it is pertinent that government should have synergy with the private developers and re-direct their motives towards arresting these housing problems that are highly prevalent within the area of study


Chapter One


Introduction

1.1 Background of the Study

Property management to a non-Professional Estate agent entails mere collection rent. Real property management goes beyond mere collection of rent. A property manager gets involved with managerial problem solving and decision making. He also performs several activities and tasks involving planning, organizing, directing and controlling with respect to the portfolio of real estate assets being managed on behalf of his clients. This is important since one of the features of real property that distinguishes it from other investment media is its requirement to be managed. Because of the increasing pace of technological development or innovations resulting particularly in the construction of high rise and high technological structures in our cities, there is need for a trained manager who is able to cope effectively and efficiently with management problems arising from the latter.

Phenomenon that affects every facets of mankind and it represents one of the most basic human needs which no doubt has a profound impact on the health, welfare and productivity of every individual irrespective of socio-economic status, colour or creed. In spite of the importance of housing to mankind, there is however, a universal shortage of needed dwelling units especially in developing countries including Nigeria where population growth and urbanization are rapidly on the increase and where the gap between the housing supply and housing demand is so wide. Housing shortage in Nigeria is reported to be estimated at about 14 to 16 million housing units with an esteemed whooping sum of N4.7 trillions required to meet the deficit. To meet this deficit, there is need to provide at least 500,000 housing units per annum for the next 40 years. A world Bank report was quoted as saying that only 10% of housing units in Nigeria are habitable while analysis estimated that 56% to 79% of Nigerians are without adequate shelter. Residential house ownership in Nigeria was said to be less than 25%compared with 76% international standards while average urban dwellers were said to be spending more than 60% of their income on substandard housing.

The supply of the income on substandard housing the supply of the new housing. The new housing units are far below the demand. The Results of these shortages are manifested in over crowding in homes and development of sums especially in major cities. Nigeria as a nation has rolled out various development programmes to address the housing debacles with varying time frames all with the aim of fashioning out a robust development profit towards sustainable pattern of housing growth. Such efforts include the creation of the then Nigerian Building Society in 1956, the establishment of the National Council on Housing, the establishment of Federal Housing Authority, the creation of Federal Mortgage Bank of Nigeria (FMBN) and the National Housing Fund (NHF) other institutions include the establishment of Primary Mortgage Institutions, the Odili committee on Urban Development and Housing, Mabogunje Technical Committee on Housing; Urban Development, the creation of the new Federal Ministry of Housing and Urban development as well as the new National Housing Policy (2002). Multi – tenanted properties such as office blocks and residential houses present the greatest management challenge to the surveyor.

The author’s experience of non-challant attitude of a good number of property investors regarding the management of the property prompted the choice of this topic


1.2 Statement of the Problem

Multi tenanted properties such as office blocks and residential houses present the greatest management challenge to the surveyor. This is important since one of the features of real property that distinguishes it from other investment media is its requirement to be managed. Because of the increasing pace of technological development or innovations resulting particularly in the construction of high rise and high technological structures in our cities, there is need for a trained manager who is able to cope effectively and efficiently with management problems arising from the latter. On this background the researcher wants to investigate the problems of property management and solution


1.3 Objective of the Study

The objectives of the study are;

  1. To examine the problems of property management
  2. To ascertain the impact of effective property management
  3. To proffer solutions towards rectifying these problems

1.4 Research Hypotheses

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

  1. H0: there are no problems of property management
    H1: there are problems of property management
  2. H02: there is no impact of effective property management
    H2: there is impact of effective property management

1.5 Significance of the Study

This study will give clear insight on problems of property management and solution. The study will be beneficial to properties owners and the managers of the properties. It will help suggest solution to the problems of property management. The study will serve as reference to other researchers that will embark on this topic


1.6 Scope and Limitation of the Study

The scope of the study covers problems of property management and solution. The researcher encounters some constrain which limited the scope of the study;

a) Availability of Research Material:

The research material available to the researcher is insufficient, thereby limiting the study

b) Time:

The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.

c) Finance:

Limited Access to finances was a major constrain to the scope of the study, as the resources at the disposal of the researcher could not cover a wider scope


1.7 Definition of Terms

Problem:

A matter or situation regarded as unwelcome or harmful and needing to be dealt with and overcome.

Property Management:

Property management is the operation, control, and oversight of real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its useful life and condition.

Solution:

A means of solving a problem or dealing with a difficult situation.


1.8 Brief History of the Study Area

Onitsha is a city located on the eastern bank of the Niger River, in Nigeria’s Anambra State. A metropolitan city, Onitsha is known for its river port and as an economic hub for commerce, industry, and education. It hosts the Onitsha Main Market, the largest market in Africa in terms of geographical size and volume of goods.

In the 2006 Nigerian census, Onitsha had an estimated city proper population of over quarter a million people, and, as of 2016, had an estimated urban population of 7,425,000. The indigenous people of Onitsha are Igbo and speak the Igbo language. The Onitsha people like to be referred to as NdiOnicha.Onitsha slowly grew to become an important trading port for the Royal Niger Company in the mid-1850s following the abolition of slavery and with the development of the steam engine when Europeans were able to move into the hinterland.

Trade in palm kernels, palm oil, and other cash crops on the coast of Bight of Biafra increased around this river port in the 19th century.In 1857 British palm oil traders established a permanent station in the city with Christian missionaries joining them, headed by the liberated African bishop Samuel Ajayi Crowther (a Yoruba recaptive) and Reverend John Taylor (an Igbo Recaptive). In 1900 Onitsha became part of a British protectorate. The British colonial government and Christian missionaries penetrated most of Igboland to set up their administration, schools and churches through the river port at Onitsha.


1.9 Organization of the Study

This research work is organized in five chapters, for easy understanding, as follows

  1. Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study.
  2. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature.
  3. Chapter three deals on the research design and methodology adopted in the study.
  4. Chapter four concentrate on the data collection and analysis and presentation of finding.
  5. Chapter five gives summary, conclusion, and recommendations made of the study

Chapter Five


Summary, Conclusion and Recommendation

5.1 Introduction

It is important to ascertain that the objective of this study was to ascertain problems and solutionof property management in Anambra state.

In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of property management


5.2 Summary

This study was on problems of property management and solution. Three objectives were raised which included:To examine the problems of property management, to ascertain the impact of effective property management, to proffer solutions towards rectifying these problems. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staff of Anambra state ministry of land and housing. The researcher used questionnaires as the instrument for the data collection.

Descriptive Survey research design was adopted for this study. A total of 133 respondents made managers, secretaries, supervisorsand securities were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies


5.3 Conclusion

The major factors which encourage beneficial manager/tenant relationship have also been looked at. The study showed that in managing high-rise multi tenant structures, the problems as outlined must arise. The nature, manner and rate with which they are taken care of are the responsibility of a property manager. The importance of addressing the problems as soon as they arise equally affect factors such as improved rent collection, good working condition relationship, prompt payment of service charge and adherence to house rules and regulations.


5.4 Recommendation

Based on observations, findings and analysis of results, the following recommendations are proffered to tackle some of the problems associated with high rise management;

1. For Cleanliness:

It is recommended that in the management of high rise buildings, factors such as routine cleaning of premises, avoidance of littering, better salary for in-house staff, and adequate provision of toiletries should be encouraged to enhance cleanliness of the property.

2. For Inefficiency of Sub Contractors:

Performance of sub contractors should be assessed at stated intervals to determine work rate. Regular inspection of common areas should equally be encouraged to monitor performance of in-house staff. Effective monitoring will bridge the gaps.

3. For Structural Problems:

Structural defects should be corrected immediately observed to enhance the lifespan of a building. This is essentially the responsibility of the employer but the property has to drum it up


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