Posted: 2022 | Pages: 85 | Format: MS Word | Chapters: 1-5 | Others: Questionnaires & References

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 ABSTRACT

Investments in properties are capital intensive and to prolong their life span, they should be properly managed and also Maintenance culture should be inculcated in the management of properties. The success or failure of any property is based on its management performance. In the study area, property performance is low due to poor management which result to delay in collection of rent as at when due, rapid deterioration of building component, ineffectiveness in the control of number of person per room leading to over crowding and pressure on the property facilities etc. This calls for professional estate surveyors and valuers to ensure effectiveness in the management of properties, it is based on this that the study has analysed the relationship between management and performance of properties in Enugu state. The researcher adopted the survey research design for the study. A total number of 336 respondents were randomly selected for the study using stratified random sampling techniques. A thoroughly screened and validated questionnaires was formulated. The findings in the study revealed that there are difficulties encountered in the effective management of properties in the area and there are evidences pointing to the fact that much more is needed to be done to sustain the improvement of property performance. The recommendation suggested Includes: public enlightenment should be made to inform properties owner on the need to engage professional estate surveyors and valuers in managing properties in other to achieve the desired objective, also regular inspection should be done in property to dictate structural damages before it get out of hand.

CHAPTER ONE

1.0     INTRODUCTION

1.1     BACKGROUND OF THE STUDY

Management of property is a very important concept that a rational real estate investor cannot do without. The ownership and management of properties date back to the period in history in Britain when great families, the church and the crown placed considerable responsibilities and trust on their stewards who in turn had bailiffs who were in physical control and co-ordinate individual’s parcel of land. It was the same thing that brought about the need for real property managers today to whom property owners entrust with the management of their properties. This therefore created the need for formal training of the managers in addition to the original consideration of honour and integrity with the crown seen as a small god.

In Nigeria during pre-independence, ownership and management of properties were based on customary land tenure system where Kings and Chiefs and head of the families and control ownership right in land. This means that ownership goes beyond ordinary physical land but includes abstract attributes of land that made its ownership and structure complex for management. In the contemporary period, property management and ownership complexity does not fall on the owners alone but on the agent who manages and see that the property is hold without any interference.

Similarly, it is clear that properties do not need to be merely owned but need effective and efficient management to enable them achieve continuity any time to meet its economic life.

According to Thorncroft (1976) property management is the direction and supervision of an interest in land and landed property with the aim of securing optimum return, this return need not  be financial but may be prestige, social, political, status and some other goals or group of goals.