Background of the Study
Commercial real estate management is crucial for the sustainability and profitability of properties in urban environments. In Jos, Plateau State, where the commercial sector has been growing due to increasing business activities and urbanization, effective property management practices have become essential for maximizing property value and ensuring tenant satisfaction (Jiboye & Oladokun, 2023). Commercial property management involves various activities such as lease management, maintenance, tenant relations, and financial management, all of which are vital for the smooth operation of commercial properties (Abubakar & Waziri, 2024).
Jos has seen an increase in demand for office spaces, retail outlets, and other commercial properties as businesses expand in the state. However, challenges in property management, including poor maintenance, ineffective communication with tenants, and inconsistent enforcement of lease terms, have resulted in suboptimal performance of some commercial properties (Rashid & Suleiman, 2023). The impact of these management issues on tenants and property owners is significant, affecting both rental yields and the overall attractiveness of commercial properties in the city.
Effective property management is essential for maintaining the financial viability of commercial properties and ensuring that they meet the needs of tenants. This study will assess the current practices in commercial property management in Jos, identifying strengths and weaknesses in these practices and offering recommendations for improvement.
Statement of the Problem
Despite the growing commercial real estate sector in Jos, Plateau State, commercial property management practices in the area have been inconsistent and suboptimal. Poor maintenance, lack of professional management, and inadequate tenant relations have been identified as common issues that affect the profitability and sustainability of commercial properties in Jos. These challenges have resulted in tenant dissatisfaction and financial losses for property owners. However, there has been limited research on commercial property management practices in Jos, leaving a gap in knowledge that needs to be addressed. This study seeks to assess the existing practices, challenges, and outcomes of commercial property management in Jos.
Objectives of the Study
Research Questions
Research Hypotheses
Scope and Limitations of the Study
This study will focus on commercial property management practices in Jos, Plateau State, including office buildings, retail outlets, and other commercial properties. Data will be gathered from property owners, managers, and tenants to assess the current management practices, challenges, and potential solutions. Limitations may include difficulty in accessing detailed financial data and the potential bias of respondents in reporting issues related to management practices.
Definitions of Terms
ABSTRACT
In recent times, there has been growing concern about the rising but volatile rate of investments in Nigeria. Thus concern stem...
Chapter One: Introduction
1.1 Background of the Study
Voter registration is the cornerstone of d...
Background of the Study
E-commerce has transformed the retail landscape by offering convenience, competitive pricing, and a...
Background of the Study
Auditing in conflict zones, particularly in regions affected by insurgency and instability like...
ABSTRACT: The role of early childhood education in fostering interge...
Background of the Study
Small-scale farmers play a crucial role in ensuring food security, particularly in developing count...
ABSTRACT: The Role of Ethical Education in Vocational Training Programs explores the integration of ethical principles into vocational education to...
Background of the Study
The COVID-19 pandemic exposed vulnerabilities in global and national healthcare...
Background of the Study
The Taxpayer Identification Number (TIN) system is designed to streamline tax collection and improv...
Background of the Study
Antenatal care (ANC) is an essential component of maternal and child health that involves the mo...