TABLE OF CONTENT
Title
page i
Certification
ii
Dedication
iii
Acknowledgement
iv
Table
of content v
Synopsis vi
CHAPTER ONE
1.0 Introduction
1.1 Statement
of problem
1.2 Aim and objective
of the study
1.3 Significant
of the study
1.4 Scope of
the study
1.5 Limitation
of the study
1.6 The
study area
1.7 Definition
of term
CHAPTER TWO
2.0 Literature review/concept/theoretical frame work
2.1 general principle of management
2.2 Management functions
2.3 Concept of property management
2.4 Property maintenance
2.5 Functions of property manager
2.6 Concept of private resident estate
CHAPTER THREE
3.0 Research methodology
3.1 Research
design
3.2 Data
types and source
3.3 Instrumentation
for data collection
3.4 Sample
frame, sample size and sampling procedure
3.5 Method
of data collection
3.6 Method
of data analysis
CHAPTER FOUR
4.0 Data presentation and analysis
4.1 Facilities and services in the study area
4.2 Management procedure employed in the management of
the study area.
4.3 Analysis of response in the facilities and services
4.4 Condition of the building and services
CHAPTER FIVE
5.0 Summary of finding, Recommendation and conclusion
5.1 Summary of findings
5.2 Recommendation
5.3 Conclusion
5.4 References
5.5 Appendix i-iii
SYNOPSIS
Developers and property ensure now
realizes the close relationship between property management and effectively
managed property and the income flow form which property, termites too are
becoming increasingly aware of their ringlets and liabilities within the legal
framework of their tenancy, a situation which now makes property management
practices more technical and broad in operation.
This research work is therefore
carried out to examine a critical analyzes of the management procedure,
associated with private residential estate.
It also identifies the management
problems and recommends possible solutions to the problem.
Both Primary and secondary sources of
data collection will be adopted in the research work to get necessary
information about the research problem.
CHAPTER ONE
1.0
INTRODUCTION
Until recently, property management as an area of
real estate practice was considered as simple of rent collection and attendance
to minor repair works in building. Landlords or their appointed surveyor in most
cases, were involved in this regard.
However, the national economy coupled with the
resultant effect of increasing cost of building material and souring cost of
capital caused a shift of attention to corporate management in landed
properties, the risk involved in real estate development has inevitably
increased. Consequently, additions to existing stock of properties have reduced
strongly. In conforming to the attributes of capital appreciation, rents and
value on properties rise with multiple years rent now being demanded.
For new lettings, the market forces if supply and
demand are easily reflected in rents and other considerations. However, requires
professional experience to negotiate comparative terms with “sitting tenants”,
besides, vacant possession is not easily obtained as it involves intricate legal
procedure.
For these and other related reasons property owners
and developers are beginning to appreciate the important roles estate surveyor could
pay ion realizing their investment objectives of profit maximization while extending
the economic life of their properties.
1.1
STATEMENT OF PROBLEM
Inadequate management of most private residential
estate has load most of them being in a state o obsolescence. This inadequate
property management is largely due to non discount attitude among Nigerians
towards maintenance culture. The owners of most private residential estate have
the full responsibility I entrusting their properties into the hands of
efficient property manager in other to enjoy profitable returns which will
allow the occupant a peaceful stay in the property. But in most cases, it is
affected by the interview of those who need to be trained.
Alhaji Oseni Olanrewaju estate which is private residential
estate use for developing place have been facing little management problem in
view of the state of the economy.
The problems which are connected with private residential
estate management include nature of electricity, water supply, effect of
inflation on rent, service charge administration and maintenance culture.
1.2
AIMS AND OBJECTIVES OF THE STUDY
The aim of this dissertation is to certifiably
examine the management procedure associated with private residential estate
with or view to identify the management problems and prefer solution.
The following objectives were pursued to achieve the
aim:
i.
To determine the
various hips of residential properties with the estate.
ii.
To examine the
state and condition of the state
iii.
To analyze the
management procedure in the management of Alhaji Oseni Olanrewaju estate.
iv.
To identify
problems of private residential estate management.
v.
To suggest ways
that would enhance better management of the estate.
1.3
SIGNIFICANT OF THE STUDY
The significant of the study is to analyze
management and maintenance procedure of a private residential estate. It also
provides an essential body of knowledge that will encourage further research on
ht4e topic. It also serves as a valuable material to the general public to stop
the non-chalet attribute towards management and maintenance of landed
properties. Also the study maintenance of existing physical facilities is part
of the overall process of national development.
1.4
SCOPE OF THE STUDY
There are various types of properties as we have
various types of land uses and will of the property types desire efficient
management for the purpose of this research findings, shall be based on private
residential estate notably Alhaji Oseni Olanrewaju estate.
1.5
LIMITATION OF STUDY
Limitations
of study are those problems that limit the scope of coverage and quality of the
output such as:
1. Financial constraint
2. Unwilling attitude of the tenants to reveal vital
information concerning the estate.
3. Scarcities of relevant textbooks on the topic really
limit my literature review on the concept of management.
4. Time is another factor fact served as constraint in
this course of the research work.
1.6
THE STUDY AREA
Ilorin is the capital f Kwara
State of Nigeria;
Ilorin was founded by a hunter called
Ojo-Isekuse who migrated from Gambia.
His descendant live up till today in a village called Gambia in Likponrin. He was later
followed by Emila (elci). According to local history, the name Ilorin was derived from an important stone
used for shaping Kaives and cutlass. The stone can be found today outside a
compound called “Ile Bamidele”.
Emila (ela) who was followed by a Kanisi man called
Solaegu and settled at Okesuna at the out sketch of Ilorin
town was later joined by Olufade a low rarer, who migrated to Ilorin fromIresa in the Western state. Then
came Afonja from old Oyo (Oyo Ile) these were followed by Alfa Alimi (Shehu
ALimi) Sarkin Gambari, Surkin Gobis and a shehu Alimi called Abdulsalam who
became the first emir of Ilorin
later succeeded by his brother Mallam Shittu.
Ilorin was an area of 4, 164 square miles and a population
of over 30, 000.
People: The inhabitants of Ilorin are Yoruba, Nupe, Fulani, Gobie and
Huasa
Economic activities: These includes farming, petty trading, cloth
weaving, (Aso Oke) and plot making, others includes carpentry, tailoring,
bricklayer mechanic etc.
Industrial
establishment: The industries in Ilorin include global
soap and detergent, coca-cola, 7up bottling company, informational tobacco
company, Kamwill Nigeria Limited, Shelter setter limited etc. Ilorin is an essential cattle route of the South
of the country. Ilorin
is a large sprawling nature town.
Trade and
commerce: It is a nodal centre
of trade because of its geographical position. The North to South railway line and
the truck and trunk a road linking the Southern states pass through Ilorin. Dry seasonal and
other feeder roads, connecting Ilorin with the
other towns in Kwara State are properly maintained, Ilorin is an essential cattle route to the
South of the country.
Festivals: Because the greater numbers of people are Muslim,
the important festivals are those associated with Islamic religion. These
include id-elfitri (lesser helvan), id-el-abir (bigger beirams), Maolud Nabiyy
(the birth of the noble prophet Muhammad).
Communication: Ilorin
is well served with modern communication facilities and postal facilities.
Institutions: Ilorin
town has many primary and post primary institutions owned by the government and
by individuals. And four (4) higher institutions namely, University of Ilorin,
Kwara State Polytechnic, Kwara State University (KWASU) and Kwara state college
of education. All in Ilorin.
CONSTRUCTION
DETAILS
The property
consists of 21 numbers of 4 and 3 bed room bungalows of the same prototype.
Floor: The floor is concrete have core floor finished with
sound screed.
Wall: It is of hallow rendered and painted both inside and
outside with emulsion paint.
Door: The door sued is of flush doors, metal glaze door
and the window are of louvers type. There is a burglary for security and
mosquito net.
Roof: The roof is made of aluminum roofing sheet nail to
timber tresses with asbestos.
Service: Electricity is connected to the premises with a
transformer serving the whole estate and water form water corporation and there
is a well to serve as supplement.
Dimension: The length of the estate is 250 meters and depth
160 meters, fenced and with hollow blocks and render.
Age: The age of building is thirty two (32) years old
i.e. from December 1980 to 2013.
Accessibility: There is a tarred road from the main road to the
estate but less been eroded.
Waste disposal: This is done by an individual i.e. some tenant make
use of receptacle provided by the state government outside the estate and some
tenant burn their refuse within the estate.
Types of
foundation: Strip foundation is
adopted for the construction of whole block.
1.7
DEFINITION OF TERMS
Premium: This is a lamp sum of money paid by the tenant
(lesser) is the landlord (lessor) in consideration for a reduced rent.
Outgoing:
This is the term used in describe the annual incurred by the landlord or tenant
in order to keep the property in state so as to command its open market value.
It can also be defined as the total amount of money spent annually by lessor in
order to make it property habitable.
Estate: Can be defined as the landlord property,
residential or industrial district planned as a unit.
Private: Can be defined as the property that belongs
to an individual.
Real property: This can be defined as the right ogf use of
physical land or building and the total of all tangible benefit o ownership.
Lease: This may be described as a contract giving the
exclusive right of possession and use of landed property (IES) for a fixed or
determinable period of time to an individual, organization or group of people.
Maintenance: This is defined as work embarked upon in order to
restore a building and all facilities therein, in a currently acceptable
standard.
Service charge: is a compulsory deposit made by all categories of
occupiers of a property in multiple occupations, in addition to rent for the
discharged of those obligations which would be taken by each of such occupiers.
Rent: it can be described as the periodic payment made by
the tenant to the landlord for the use of property.
Management: Can be defined as the act or skill of directing
human activities and physical resources towards the aim of achieving
pre-determine or desire goals.
Landed Property: This can be defined as the immoveable properties
but can be seen, touched and acquired e.g. building of different types if
pattern example are bungalow, mansion, duplex, semi detach, bungalow etc.
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