CHALLENGES OF
MANAGEMENT OF PUBLIC RESIDENTIAL PROPERTIES IN NIGERIA
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Public
residential 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. This is much akin to the role of management in any business
(Wikipedia, 2015).
Public
residential property management is also the management of personal property,
equipment, tooling and physical capital assets that are acquired and used to
build, repair and maintain the public residential property. Property management
involves the processes, systems and manpower required to manage the life cycle
of all public residential property as defined above including acquisition,
control, accountability, responsibility, maintenance, utilization and
disposition (Njoku, 2006). According to Ebie (2012), duties involved in public
residential property management generally will include a minimum of these basic
primary tasks
–
The full and proper
screening or testing of an tenants/applicant’s credit, criminal history, rental
history and ability to pay.
–
Lease contracting or
accepting rent using legal documents approved for the area in which the
property is located.
–
Mitigation and
remediation regarding any maintenance issues, generally within a budget, with
prior or conveyed consent via a Limited Power of Attorney legally agreed to by
the property owner.
There are many facets to this public residential
property management, including managing the accounts and finances of the real
estate/residential properties, and participating in or initiating litigation
with tenants, contractors and insurance agencies. Litigation is at times
considered a separate function, set aside for trained attorneys. Although a
person will be responsible for this in his/her job description, there may be an
attorney working under a property manager. Special attention is given to landlord/tenant
law and most commonly evictions, non-payment, harassment, reduction of
pre-arranged services, and public nuisance are legal subjects that gain the
most amount of attention from public residential property managers. Therefore,
it is a necessity that a public residential property manager be current with
applicable municipal, county, state and Federal Fair Housing laws and
practices. In advanced countries, public residential property management, like
facility management, is increasingly facilitated by computer-aided facility
management (CAFM).
However,
managers of public residential properties in Nigeria are faced with various
kinds of challenges ranging from uncooperative attitude from workers, poor
maintenance and environmental condition, security and other basic
infrastructures. Some managers in Nigeria has been able to cope with some of
this challenges but the researcher will provide an overview about the
challenges and how public residential properties can be managed effectively.
1.2 STATEMENT OF THE PROBLEM
According to Bello (2008), public residential
properties is more than a mere shelter; it includes all facilities within and
around it, embracing a bundle of services which entails both product and
process. Management of public residential building embraces in all
ramifications the maintenance and development process, be it economic, social,
physical). In fact, management of these properties has been subject of focus by
researcher in recent times based on the cumbersome nature of the process. The
problem of poor management of public residential properties is a global
phenomenon and the severity of the problem differs from one nation to another.
However, the researcher is seeking to examine the challenges of management of
public residential property in Nigeria.
1.3 OBJECTIVES OF THE STUDY
The
following are the objectives of this study:
1. To
examine the challenges of management of public residential properties in
Nigeria.
2. To
analyze the effect of adequate management of public residential property on its
value.
3. To
identify the solution to the problems of public residential property management
in Nigeria.
1.4 RESEARCH QUESTIONS
1. What
are the challenges of management of public residential properties in Nigeria?
2. What
is the effect of adequate management of public residential property on its
value?
3. What
are the solutions to the problems of public residential property management in
Nigeria?
1.6 SIGNIFICANCE OF THE STUDY
The
following are the significance of this study:
1. The
outcome of this study will educate the general public on the intricacies of
public residential properties in Nigeria emphasizing on its proper management
and some other management challenges which will form a guide for estate
managers in decision making.
2. This
research will also serve as a resource base to other scholars and researchers
interested in carrying out further research in this field subsequently, if
applied will go to an extent to provide new explanation to the topic.
1.7 SCOPE/LIMITATIONS OF THE STUDY
The
scope of this study on the challenges of management of public residential
properties in Nigeria will cover all the basic problems faced by managers in
effective maintenance of both the infrastructure and finances generated from
it.
LIMITATION OF STUDY
Financial constraint– Insufficient fund tends to impede the
efficiency of the researcher in sourcing for the relevant materials, literature
or information and in the process of data collection (internet, questionnaire
and interview).
Time constraint– The researcher will
simultaneously engage in this study with other academic work. This consequently
will cut down on the time devoted for the research work.
1.8 DEFINITION OF TERMS
Management:
the process of dealing with or controlling things or people.
Residential:
designed for people to live in.
Property:
a thing or things belonging to someone; possessions collectively.
REFERENCES
Bello, N. A. (2008): The Economics of Land and
Housing. (Revised Edition). Abeokuta: DENAB Publication.
Ebie, S. P. O. F. (2012): The Imperative of
Social Housing in the South-South Region of Nigeria. The Estate Surveyor and
Valuer. Vol.37(1). July-December 2012.
Njoku, J. (2006): “Why ‘Cash and
Carry’ Housing Transaction Persist’. Retrieved on 29/4/2009 from http://www.library.hbs.edu/hbsonly_cgi.
Wikipedia (2015): www.wikipedia.com