Posted: 2023 | Pages: 60 | Format: MS Word | Chapters: 1-5 | Others: Questionnaires & References

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CHAPTER ONE

• INTRODUCTION

1.1   BACKGROUND OF THE STUDY

Investment in real estate property is unlike most other forms of investment because it is beset with special management problems. Acquisition of interest in landed property beset with a number of difficult among which is the problem of managing the interests so that optimum return is achieved.

Among the problems is recovery of rent arrears and handling of difficult tenants . These two problems can be seen to be different in nature but has a close relationship, this is because one usually leads to the other .The fact is that a tenant who fails to pay his rent is termed a difficult tenant. These aspects of management functions are occasionally confronted with problems because payment of rent depends on earnings and income from business carried out in the property. These earnings and income are usually affected financial factors like changing economic condition, personal circumstances etc which is out of control of the landlords managing agents or the tenants.

Accumulation of rent arrears would result in some kind of friction between the tenants and the property manager which if not properly handled may lead to unpleasant reactions on the part of the tenant. This research tends to find the cause of this nagging problem and to proffer solution to it.