Estate Management &Valuation
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Estate Management &Valuation
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Item EFFECTS OF SERVICE CHARGE ADMINISTRATION AND MANAGEMENT IN SELECTED MULTI-TENANATED COMMERCIAL BUILDINGS IN PHASE ONE, ABUJA.(2022) Fatima Mohammed; Rukaiyat Adeola OgunbajoThis paper assessed effects of service charge administration and management in selected multitenanted commercial buildings in phase one Abuja. The study was guided by these objectives which were investigating issues and challenges involved in the administration and management and assessing the occupant level of satisfaction. Data were collected by self-administered questionnaire and interview from eight (8) respondents from managers and 254 from tenant’s perspective respectively. Data was analyzed and presented using percentages, frequencies, relative satisfaction index and tables. Findings revealed that lack of transparency, lack of efficiency; improper accounting and poor facilities are the issues encountered. Howeve, the relative satisfaction index computed to show the satisfaction level of the occupants ranked Plumbing services 1st with relative satisfaction index of 0.7772, Cleaning of common services 2nd with relative satisfaction index of 0.718, refuse disposal 3rd with RSI with 0.653 while transformer maintenance has relative satisfaction index of 0 and ranked 13th. A number of guidelines should be taken in order to address the problems identified above which include Improved communication between manager and occupiers, clear disclosure of the basis for apportioning service charge costs between tenants among others.Item A CATEGORICAL MODELLING APPROACH FOR DETERMINING RENTAL HOUSE PRICES IN LOW-INCOME NEIGHBOURHOODS OF NORTH-CENTRAL NIGERIA(Adekunle Ajasin University, Akungba-Akoko, 2022) Rukaiyat Adeola Ogunbajo; Rakiya Ibrahim WaliOver the years, researchers in developing countries have applied varied methodologies to study housing attributes and house prices. This study utilised the categorical modelling approach to determine the contributory effect of housing attributes on rental house prices in a major town in North-Central Nigeria. A total of 827 housing units were sampled by stratified and random selection. The data used were generated through a questionnaire survey. Nine housing attributes were found to sustain residential buildings in the study area and these accounted for 45% and 61% variance in the rental prices of two major low-income house types. Results revealed that the identified housing attributes significantly predicted rental values for the sampled house types. The mean of predicted rental values was further computed for each house type and compared to the means of the actual rental values collated in the course of data collection and presented with line graphs. Results showed predicted values that are reasonably similar to the actual rental values of the dwelling units. This suggested a reasonably accurate prediction of rental house prices using the categorical regression approach. The study recommended the model to house managers to ensure accurate house pricing.Item Assessing the Effects of Rental Default by Commercial Property Occupiers on Property Management in Minna, Niger State, Nigeria(Josepy Ayo Babalola University, 2023) Zainab Adetoro-Folorunso; Rukaiyat Adeola OgunbajoOne of the fundamental roles of a property manager in the property management process is his ability to collect rent on behalf of his client (landlord); rent is collected and given to the landlord to enable him to meet his investment needs. When rent arrears occur this could hinder the property owners or managers from attaining their objectives for investing in real estate. This paper fundamentally looks at the effect of rental default by commercial property occupiers on property management with experience from Minna, Niger State which is the study area. Thirty-eight property managers in the study area were surveyed with a structured questionnaire, twenty-eight were returned with a response rate of 74%. Data collected were analysed using descriptive statistical tools, analysis of the primary data depicts eleven (11) effects of rent defaults on commercial property management, of these eleven effects, income loss, reduction of annual rental yield and delay in payment of agent dues with an average means score of 3.91, 3.87, and 3.83 respectively, were ranked as the three most significant effects. The study recommended that property managers and owners should make adequate insurance provisions to protect themselves against rent arrears. Additionally, whenever any tenant fails to meet up with the agreement provided in the tenancy agreement without any genuine reason should be made to face the law.Item Distribution and Access to Urban Infrastructure by Residential Property Occupiers in Minna, Nigeria(University of Lagos, 2022) Rukaiyat Adeola Ogunbajo; Lateef A. Lawal; Sulaiman Adesoji OlabisiUrban infrastructure encompasses the essential amenities, facilities, and services that make life easy and comfortable for residents within neighbourhoods. The provision of nine basic urban amenities across thirteen neighbourhoods in Minna, and measurement of access to amenities by households are the points of evaluation in this study. A total of 1,134 housing units were sampled using the stratified and systematic random sampling techniques. Data were generated from questionnaires, inspections and enumeration in the study area. Weighted mean scores were computed and indexed to determine overall accessibility to amenities. The location quotient (LQ) was used to estimate the degree of concentration of the amenities, while the Welch adjusted analysis of variance tested for a significant difference in the distribution of urban amenities across neighbourhoods. The adjusted Welch's F ratio was 2.959, which was significant at the 0.05 alpha level, suggesting an uneven distribution of amenities across neighbourhoods in the study area. This study emphasises that government at all levels should prioritise provision and development of amenities and also support efforts by communities regarding basic amenities and services.Item Assessment of Residential Building conditions and Property Management Strategies in Minna, Nigeria(UNIVERSITY OF LAGOS, 2016) Rukaiyat Adeola OgunbajoThis study assessed the conditions of leasehold dwelling units and property management strategies in Minna, Nigeria. It sampled 328 dwelling units spread across selected neighbourhoods. Questionnaire were administered and used to solicit relevant data for the study. Simple percentages, total weighted scores, weighted mean, contingency table, chi square distribution, and phi coefficient were used to analyse collated data at various levels of the research. Findings revealed poor conditions of 55.2% of leasehold dwelling units. A computed chi square value (X2 = 48.965) indicated no statistical significant difference in the overall condition of dwelling units across the sampled neighbourhoods. Findings also showed that only 31% of dwelling units are managed by professional estate surveyors, periodic general renovations by property managers were not carried out in any of the sampled units, while 41% of respondents linked the management and maintenance of ancillary facilities in their neighbourhoods to community efforts and contributions. It further revealed that 51% of respondents were not satisfied with the management of their dwelling units, while 84% of residents were not satisfied with the management of ancillary facilities in their neighbourhoods. A chi square value (X2 = 14.965) and phi coefficient (φ = 0.209) revealed a weak, but positive and statistically significant relationship between building conditions and management type in the study area. The study emphasized the significance of effective and efficient management practices as key players in ensuring that residential buildings remain in good and decorative states or repair.