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This study is on problems of property management and solution. The total population for the study is 200 staff of selected properties in Abuja. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made managers, secretaries, supervisors and securities were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
1.1 Background of the study
Property management to a non Professional Estate agent entails mere collection rent. Real property management goes beyond mere collection of rent. A property manger gets involved with managerial problem solving and decision making. He also performs several activities and tasks involving planning, organizing, directing and controlling with respect to the portfolio of real estate assets being managed on behalf of his clients. This is important since one of the features of real property that distinguishes it from other investment media is its requirement to be managed. Because of the increasing pace of technological development or innovations resulting particularly in the construction of high rise and high technological structures in our cities, there is need for a trained manager who is able to cope effectively and efficiently with management problems arising from the latter. Multi – tenanted properties such as office blocks and residential houses present the greatest management challenge to the surveyor.
The author’s experience of non-challant attitude of a good number of property investors regarding the management of the property prompted the choice of this topic
1.2 STATEMENT OF THE PROBLEM
Multi tenanted properties such as office blocks and residential houses present the greatest management challenge to the surveyor. This is important since one of the features of real property that distinguishes it from other investment media is its requirement to be managed. Because of the increasing pace of technological development or innovations resulting particularly in the construction of high rise and high technological structures in our cities, there is need for a trained manager who is able to cope effectively and efficiently with management problems arising from the latter. On this background the researcher wants to investigate the problems of property management and solution
1.3 OBJECTIVE OF THE STUDY
The objectives of the study are;
1. To examine the problems of property management
2. To ascertain the impact of effective property management
3. To proffer solutions towards rectifying these problems
1.4 RESEARCH HYPOTHESES
For the successful completion of the study, the following research hypotheses were formulated by the researcher;
H0: there are no problems of property management
H1: there are problems of property management
H02: there is no impact of effective property management
H2: there is impact of effective property management
1.5 SIGNIFICANCE OF THE STUDY
This study will give clear insight on problems of property management and solution. The study will be beneficial to properties owners and the managers of the properties. It will help suggest solution to the problems of property management. The study will serve as reference to other researchers that will embark on this topic
1.6 SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers problems of property management and solution. The researcher encounters some constrain which limited the scope of the study;
a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities
1.7 DEFINITION OF TERMS
PROBLEM: A matter or situation regarded as unwelcome or harmful and needing to be dealt with and overcome.
PROPERTY MANAGEMENT: Property management is the operation, control, and oversight of real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its useful life and condition.
SOLUTION: A means of solving a problem or dealing with a difficult situation.
1.8 ORGANIZATION OF THE STUDY
This research work is organized in five chapters, for easy understanding, as follows
Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study
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