APPRAISAL OF THE EFFECT OF PROPERTY MANAGEMENT ON PROPERTY VALUE
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- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
The property industry in Nigeria has been confronted with pressure due to population growth and urbanization challenges, which trigger the rising needs for both residential and commercial spaces. Lack of ethical and strategic approach to management, limited recognition of the value of these assets by property users and operational decision makers, gradual shift in emphasis on quality and ethics have eroded the significance of property management. This has however generated the influx of “quacks” creating a major set-back in the property management parlance, despite the traditional focus on providing management service. The study adopts extensive fieldwork to practicing estate surveyors and valuers (i.e. statutorily recognized property managers) firms through in-depth interview and questionnaires administration. The finding established the necessity to shift the practice emphasis on quality and ethical conduct. It also reveals that the statutorily recognized property managers are still lagging behind in implementing necessary qualitative management approaches, this as a result of property market forces. It is therefore recommended that further training and workshops should be instituted in addition to annual.
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