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MANAGEMENT OF COMMERCIAL PROPERTIES IN
NIGERIA
(A CASE STUDY AT AWKA METROPOLIS)
ABSTRACT
In this recent times there has been inflationary trend in the Nigerian economy
this has also effected different sectors of the economy including the financial
affairs as long as one registers he becomes a management of commercial
properties. The lack of trained professional to handled the commercial
properties constitutes the first major obstacle to management in the way it is
understand the Quack Again. Being that they are not trained in the profession
are not capable in carried out the management of commercial properties more
than licensed surveyor who has under gone so many training in the filed of
Estate Management unlike Licensed Agent who are doubts trying to maximize
profit.
TABLE OF CONTENTS
CHAPTER ONE
1.0
General Introduction
1.1
State of Problem
1.2
Aims and Objective
1.3
Research Questions
1.4
Significance of the Study
1.5
Delimitation of Study
1.6
Limitation of Study
1.7
Definition of Term
1.8
Overview of the Study
CHAPTER TWO
2.0
Literature Review
2.1
Introduction Management
2.2
Importance of Management
2.3
Management Problems
CHAPTER THREE
3.0
Research Methodology
3.1
Restatement of the Problem
3.2
Description of the Study Area
3.3
Data Sources
3.3.1
Primary Sources of Data
3.3.2
Secondary Sources of Data
3.4
Population of Study
3.5
Sampling and Sampling Procedure
CHAPTER FOUR
4.0
Presentation and Analysis of Data
CHAPTER FIVE
5.0
Conclusion and Recommendation
5.1
Introduction
5.2
Recommendation
5.3
Conclusion
Bibliography
Appendices
CHAPTER ONE
INTRODUCTION
The
dramatic reduction in number of commercial properties in Nigeria is a
reflection of the level of decline which the nation has one through. The demise
of same commercial properties in Nigeria did not discourage further investment
in the development of commercial properties in Nigerian. Obviously the “big”
names served the need of the whole of Awka metropolis when few investors
considered the development of commercial properties (shopping complexes) as a
worthwhile problem and the idea of a Central Business District was accorded a
high respect.
Recently
the management is not an easy idea to conceive for real estate especially with
such development are in use by the owners. The lack of
trained professional in handle the management of commercial properties
constitutes the first major obstacle to management of commercial properties
with in general.
Basically
maintenance is a vital aspects of property management this aspect guarantees
the physical life span of a property in order that a property may last for ages
ad does not become economically obsolete, it must be maintained.
1.1
STATEMENT OF THE PROBLEMS
Lack
of proper maintenance has gone way to effect the image of some commercial
properties many commercial properties failed due to ineffective handing of the
properties which manifests in the physical deterioration.
When
non-professional are entrusted with the task of property management, failure is
easily result. In many instance policy or decision makers, have neglected the
role of professional property manager. In the management of commercial
properties. What is the correct solution? Who can provide the answer?
1.2
AIM AND OBJECTIVES
This study aims at achieving or deriving a satisfactory way of management of
commercial properties and party contributes to the management of the economic
resources in Nigerian. The objectives of the project are:
(i)
To determine ways and means of
enhancing to economic returns of a commercial properties?
(ii)
To measure performance with benefit and
thus guide future design, development and decision.
(iii)
To review the problems normally
associated with the management of commercial properties, review design
methodology and suggest ways and means of improving the existing method of
management.
(iv)
To develop an efficient means in
management of commercial properties so as to ensure maximum utilization and
long life at minimum cost.
1.3
RESEARCH QUESTIONS
To
throw more light on the topic at state, the researcher took the pains to
arrange so me questions based on the assumptions earlier on put forward about
the problem this is hoped, will help the researcher to get the solution to the
problems, which is the failure of the existing method of management.
The
following research questions will accommodate that:
(i)
Is there any benefits derived from the
management of commercial properties?
(ii)
Is commercial properties effectively
managed?
(iii)
Does performance and benefits, guide,
future decision making in the management of commercial properties?
(iv)
What are the ways and means of ensuring
undisrupted flow of economic returns from a commercial properties?
(v)
Does the involvement of the management
in place effect the productivity of the commercial properties?
1.4
SIGNIFICANCE OF THE STUDY
This
section of chapter one of a research project states those whom the study will
have impacts on and those that will benefit from the study.
It
will be significant to the researchers and those associated with the project
such as the occupant of the area the customers the entire public etc.
Finally
the research work will serve as on additional to the existing literature in the
area to managing and maintaining commercial properties, besides serving as
reference for future researchers on the field.
1.5
DELIMITATION OF STUDY
The
study is on the management of commercial properties in Nigeria, with particular
emphasis on BUSNIKE shop, Akwa this shows that the project will be restricted
to the area, to enable the researcher has enough time for the project.
1.7
DEFINITION OF TERMS
1.7.1
MANAGEMENT
The
science of organization and operation or at practical, level the art of
directing and controlling affairs.
1.7.2
COMMERCIAL
These
occurs mainly inform of market shop office building, supermarket bank building,
hotel, trade centre and petrol, filling station in commercial cities.
1.7.3
PROPERTY
This
defined as the highest right a man can have to any thing, property can be
classified into two land and immovable good which a man owns a re know as
corporeal property while incorporeal are those right which a man has over that
property.
This
is arranged in five(5) chapters the first chapter generally introduce the topic
of the study while, the second chapter reviews into many other literature
in the area of study, which has been written in the past. These areas include
definition of management maintenance and management strategy.
Third
chapter introduces the data collection method instruments, analysis and
procedure while fourth chapter is the data presentation and analysis.
Fifth
chapter includes conclusion and recommendation of the problem of strategies for
management of commercial properties.
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