MANAGEMENT OF MULTI-TENANTED LOW-INCOME RESIDENTIAL PROPERTIES IN NIGERIA
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CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Supervision or management is a broad activity, involving the mishmash and co-ordination of individual, physical and monetary resources, in a way which bring into being a commodity or a overhaul which is both required and can be obtainable at a price which will be rewarded, while making the operational environment for those concerned agreeable and acceptable. In the words of Yalokwu (2002), management can be regarded as the process of scheduling, organizing, leading and controlling the hard work of organizational members and by means of all other organizational wherewithal to achieve placed goals. Conversely, property management involves the careful organization of individual and material resources with the intend of achieving defined objectives in real property investment. Its practice offers a robust basis for timely decision making in the maintenance of property resources together with facilities and matching the dominant interests of the propertyowner and a range of tenants in the estate as enclosed in lease agreements accomplished thereto (Dauda, 2010).
A multi-storey or high-rise structure is a building in which the majority of occupants solely rely on elevators (lifts) to arrive at their destinations. The most well-known tall buildings are referred to as ˜high-rise buildings™ in most nations. For most reasons, the cut-off end for high-rise buildings is approximately seven storeys or higher. It could also be explained in terms of linear height (feet or meters) to a certain extent than storeys, (Challinger, 2008). Nevertheless, for the purpose of this study and with the reflection of the Nigerian context, the cut-off end considered as tall or high-rise building structure as five storeys and beyond.
According to Zaman (2012) the uniqueness and complexity nature of high-rise buildings in view of their design, development and management posses a great challenges, hence the difference in management with other properties. There are slight or less problems of organization where high-rise commercial properties are in use and utilized by one renters or organization in terms of appropriate utilization of the real property, adherence to the edifice status, use of infrastructural facilities and utilities of the building structure in addition to the cleaning services. The fast increases of commercial and business activities have shown a typical growth in municipalities and metropolises. The high asking price of land attainment caused by shortage has given rise to a perpendicular and vertical development of multi-storey structures. Numerous commercial activities could be housed beneath one roof and large number of people could work at precisely the same location or site. In addition various goods and services might be made available to clients within the high-rise building structure and thereby intensively make the most in utilizing land area (Streen, 2002).
As a matter of fact, property maintenance and management has ancient starting point but the need has been increasing more in these days owing to urbanization, highly developed and sophisticated technology of house construction, absentee real property owners, complex legal dealings between the landlord and the tenants in addition to other complex legislations and cost-effective variables which have an effect on property possession and values. This necessitated the need to maintain buildings in a state that would augment easy day-to-day contemporary human activities. For this reason, the task of keeping contemporary building structure in such a condition is the basis of real property management, (Lawal, 2002). At the present time, people are beginning to understand that effective real property management in high-rise buildings can sustain the real property value and preserve high returns on their venture or investment. The incessant growth of high-rise or tall commercials buildings designates that there is a need for an effectual ownership and real property management system to inspire a quality living experienced in the middle of highrise tenants or renters. Conversely, current practice of real property management poses several problems which affect all parties concerned: the property managers, the owners, the developers and the tenants of high-rise building structures (Ling, 2014).
Shelter has been universally accepted as the second most important essential human need after food. Housing in all its ramifications is more than mere shelter since it embraces all the social services and utilities that go to make a community or neighbor hood live able environment.
Efficient housing design is becoming increasingly imperative in Nigerian urban centers; this is because housing is an essential and fundamental component of the overall land use activities in both rural and urban centers. Besides it has a tremendous positive influence on the health, safety and welfare (economic and social) of residents of any community.
Residential land use is the largest single land use in any community and a larger proportion of land is usually devoted to it. However, the desire to own houses has eluded the bulk of the Nigerian population in the urban centers. This can be attributed to a number of reasons like poor economic situation in the country, rising cost of building materials, explosive increase in urban population and absence of effective housing policy.
Landed property ownership is regarded as a great success and achievement; and this mentality has great influence on landed property itself. After the construction of buildings, most property owners tend not to care for it again as all that matters to them is that they have a property which they can call their own. This is because most Nigerians lack maintenance culture. However, the effective management of properties is very important, due to its nature and the capital involved in its construction. Properly managed properties will not only maximize the income realized from the property where the property is built for investment purpose, but will also ensure that the property is in a good physical and structural state for it to continue performing the purpose for which it was built.
A low-income environment explains the low take home pay, which does not permit savings. This is because the per capital income is at its lowest point. It follows that where the poor manages to feed and may be, cloth himself and members of his family, he may never be able to pay his rents or own a house of his own. The study is an attempt to uncover the various constraints and prospects of management of low-income residential properties in Nigeria using Enugu metropolis as a case study.
Though the countries of the world differ greatly in their levels of industrial and social development and the nature of their economic and political systems, the importance of housing and its related facilities as vital elements in determining the standard of living and as integral parts of the development process and the need for government to take a major share of responsibility for improving the level at which they are provided and generally recognized.
Property management is the management of existing structures erected on land with the aim of securing the optimum return which need not always be financial but may be in terms of social benefit, status e.t.c. It is also the general administration of landed property on behalf of the owners usually known as the clients by the property manager.
Management of residential properties, not only covers rent collection, repairs and maintenance but also other aspects of good management. The importance of management of residential properties has become so technical that the knowledge and services of competent property managers are required to perform the task.
In view of the above, the property manager occupies a prominent position in the direction, coordination and supervision of the management functions, to keep, restore and improve the value of the property being managed.
1.2 STATEMENT OF THE PROBLEM
Multi-tenanted low-income residential properties imposes a lot of problems in its management. There is a great struggle to meet up with the investment objectives, the cost of preserving the building and satisfying the tenants.
The problem of this study therefore is to examine the problems encountered in the management of this class of property and proffer possible solutions to the problem.
1.3 AIM AND OBJECTIVES OF THE STUDY
The major aim of this study is to identify the problems with the management of multi tenanted low-income residential properties and to determine the extent that the property managers have gone in achieving a virile property management delivery for the low income property.
For a property management to be successful a continuous flow of fund must be guaranteed, therefore adequate attention shall be paid to this crucial area of resource mobilization. This forms the primary objective of this study which includes:
(i) To examine the conditions of multi-tenanted low-income properties.
(ii) To identify and examine the difficulties encountered in the management and maintenance of low income residential properties
(iii) To highlight the functions of the property manager in the management of multi-tenanted properties.
(iv) To proffer solution to the identified problems.
1.4 RESEARCH QUESTIONS
To achieve the aim and objectives of the study, the following questions were put forward. The research questions are:
- What are the conditions of multi-tenanted low-income residential properties in Enugu Urban?
- What are the problems encountered in the management of multi-tenanted low-income residential estates?
- Identify the roles of the property managers in managing these classes of properties.
- Suggest ways of ameliorating the problems identified in (2) above
1.5 STATEMENT OF HYPOTHESES
To arrive at veritable finding and conclusions, the following hypotheses were formulated:-
Ho: There are no problems encountered in the management of multi-tenanted low-income residential properties
Hi: There are problems encountered in the management of multi tenanted low-come residential properties
1.6 SIGNIFICANCE OF THE STUDY
The realization of a virile property management scheme has constantly eluded different individuals and governments in Nigeria. The property management and maintenance policies if any seem to be ineffective, as the government have failed in their primary assignment of solving the perennial housing problems.
This work will be carried out with the aim that its outcome will be of great value to several interest groups: the academia, investors and government at all levels.
For the academic, the literature review, findings and recommendations will enrich the scanty literature of this topic and also serve as a further reference for further researchers in this study area.
It will equally benefit the investors; hence the research will provide a good insight into the viability or otherwise of residential property investments in Enugu metropolis.
Finally, the research will be of immense value to the government as it will help them to understand the flaws in both their planning and implementation. The recommendations would give new suggestions that would enhance the management of multi-tenanted low-income residential properties in Enugu metropolis.
1.7 SCOPE OF THE STUDY
This study on management of residential property is so vast and complex. The scope of this study is centred in Enugu metropolis. It also involves among other things the management and maintenance problems associated with multitenanted low income properties, types of maintenance, nature and causes of problems in buildings.
1.8 OVERVIEW OF THE STUDY
This research work is presented in five (5) chapters in accordance with the standard presentation of research work.
Chapter one contains the introduction which include; background of the study, statement of the problem, aim and objectives of study, research
Questions, statement of hypothesis, significance of study, scope of study and overview of the study.
Chapter two deals with review of related literature.
Chapter three dwelt on research methodology which include; brief description of the study area, research design, sources of data, population of the study, sample size and sampling technique, instrument of data collection, validity of instrument, reliability of instrument and method of data presentation and analysis.
Chapter four consists of data presentation and analysis while chapter five is the summary of findings, recommendations and conclusion.
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