THE CHALLENGES OF RESIDENTIAL PROPERTY MANAGEMENT

THE CHALLENGES OF RESIDENTIAL PROPERTY MANAGEMENT
THE CHALLENGES OF RESIDENTIAL PROPERTY MANAGEMENT

THE CHALLENGES OF RESIDENTIAL PROPERTY MANAGEMENT IN UYO METROPOLIS (A CASE STUDY OF EWET HOUSING ESTATE UYO)

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ABSTRACT

The purpose of this study was to examine the challenges of residential property management in Uyo metropolis (A case study of Ewet Housing Estate, Uyo). The research adopted case study and serve research methods. A total of 90 respondents who are residents of Ewet Housing Estate and 70 estate surveyors and valuers, were randomly selected. Only 120 out of the 160 participants responded, representing 80% of the distributed questionnaire.

Being a survey design that tested the correctness of the observed frequency of responses, percentage distribution was initially used to describe the pattern of responses of the participants while non parametric binomial test statistics was used to test the statistical significance of the observation.

 

Results of the study revealed that a significant number of the participants do not know what property management practices are and therefore it is not sought for or employed. Lack of fair rent to cover maintenance cost and non periodic rent to arrest the effect of galloping inflation in the economy poses a lot of challenges for the property managers. This was seen by the fact that most participants supported the management the housing estate.

The research concluded that residential property management is as important as property development as the lack of it eventually diminishes the national housing stock, apart from constituting a waste of scare economic resources. However, recommendations and conclusions were put forward.

 

CHAPTER ONE

INTRODUCTION

1.1       Background to the Study

Housing is one of the most essential human necessities. Its value has impacted the gross domestic product (GDP) of some advanced economies (Anthony, 2022: Chien & Liu, 2022) and is a major source of employment and satisfaction for citizens in developing countries.

Moreover, adequate housing contributes to the attainment of physical and moral health of a nation and stimulates the social stability, working efficiency and the development of the individual. It is also one of the best indicators of a person’s standard of living and his place in the society.

 

However, the problem of adequate housing is a good phenomenon and the severity of the problem differs from one nation to another. This problem has often been associated to land acquisition problem, low income of the individual, high cost of building materials, statutory regulation etc. It is usually a situation of either the government has failed in meeting up with its obligations or that the individuals has remained for some times incapacitated to be able to break through various bureaucracies in land acquisition procedure.

Residential property management is critical throughout the property life cycle in providing a better value for money.  Additionally, property management is  imperative,  particularly in  high-rise  and  high-density  residential  areas  (Yuen  &  Yeh,  2011).  Property  management  in  high-rise  residential buildings is  involved in  managing the  building and  its common  areas (common  property) and ensuring that all facilities are managed prudently for safe habitation.

In Nigeria, the urban housing situation continues to deteriorate in the absence of adequate arrangements to ensure that housing stocks expanded in line with the rapidly growing population. Despite the past efforts of the nation’s housing program.  It is evident that the combined effort of the public and private sectors over the past successive government plans had continued to fall far short of housing need (Adesoji, 2011).

 

The successive governments have tended to leave this important sector. Almost entirely to the private initiatives, concentrating their efforts on the provision of limited number of residential quarters for their officers (Adesoji, 2011).

After the construction of buildings, most property owners tend not to care for it again as all that matters to them is that they have a property which they can call their own. This is because most Nigerians lack maintenance culture. However, the effective management of properties is very important, due to its nature and the capital involved in its construction.

 

THE CHALLENGES OF RESIDENTIAL PROPERTY MANAGEMENT

Properly managed properties will not only maximize the income realized from the property where the property is built for investment purpose, but will also ensure that the property is in a good physical and structural state for it to continue performing the purpose for which it was built.

Most people dwell in buildings in places of work as well as domestic life, and made things or sold things from their own homes.

 

Though the countries of the world differ greatly in their levels of industrial and social development and the nature of their economic and political systems, the importance of housing and its related facilities as vital elements in determining the standard of living and as integral parts of the development process and the need for the government to take a major share of responsibility for improving the level at which they are provided and generally recognized.

The importance of management of properties has become so technical that the knowledge and services of competent property managers are required to perform the task for instance. There is need to meet the expectations of the various classes of tenants properties.

 

Most often the needs of different classes of tenants properties at variance or in direct opposition in extreme cases. The failure of the property manager to achieve a harmonious balance of the accommodation needs of all types of tenants properties works against realization of investment objectives.

 

1.2       Statement of the Problem

Inadequate management of most residential properties in urban cities of Akwa Ibom State and Nigeria at large is of serious concern. This inadequate property management is largely due to non discount attitude among Nigerians towards maintenance culture. The owners of most residential estate have the full responsibility in 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. This scenario is not in exception to Ewet Housing Estate Uyo.

 

Ewet Housing estate is residential estate use for developing place have been facing little management problem in view of the state of the economy. Ewet housing estate illustrates the typical residential environment of many housing estates in the country, where quality houses are located in unsightly surroundings.

A field survey by the authors has shown that more than 60% of the housing stock in the estate is made up of modern and palatial houses, built within the last three decades or so. From visual observation, it is evident that despite the current lull in other economic activities in the state, house construction within the estate has continued unabated, with well over 93% of the total land area already built.

It has been observed that, the problems which are connected with residential property estate management in Ewet Housing estate include nature of electricity, water supply, effect of inflation on rent, service charge administration and maintenance culture. The estate imposes a lot of problems in its management. There is great struggle to meet up with the investments objectives, the cost of preserving the building and satisfying the tenants occupying the property. This study therefore aimed to assess the challenges of residential property management in Uyo Metropolis, using Ewet Housing Estate, Uyo as a case study area).

 

1.3       Objectives of the Study

The general objective of the study is to examine assessment of the challenges of residential property management in Uyo metropolis; A case study of Ewet Housing Estate, Uyo)

Specifically, the objectives of the study are:

  1. To examine the conditions of Ewet housing estate Uyo
  2. To identify the property management problems associated with Ewet Housing estate Uyo.
  3. To proffer solution to the identified problems in the study area
  4. To assess the relationships between property management problems, accommodation voids and tenant congestion in Ewet housing estate Uyo
  5. To ascertain the property management strategies adopted in solving property management problems in Ewet housing Estate in Uyo.

 

1.4       Research Questions

The following questions guided the study:

  1. What are the conditions of Ewet Housing Estate, Uyo?
  2. What are the problems associated with of Ewet Housing Estate, Uyo?
  3. What are solutions to be identified in the management of Ewet Housing Estate, Uyo?
  4. What are the relationships between property management problems accommodation voids and tenant congestion in Ewet Housing Estate, Uyo?
  5. What are the strategies adopted in the management problems in Ewet Housing Estate, Uyo?

 

Area of the Study

The research area is Ewet Housing Estate, Uyo, Nigeria. Ewet Housing Estate is located in the metropolitan area of Uyo, the state capital of Akwa Ibom State. Akwa Ibom State was created out from Cross River State, Nigeria in 1988. Over the creation of the state most private, state and federal agencies and other parastatals and institutions started establishing their office and business in Uyo, the State capital.

 

In view of the geographical location of the State, coupled with the increase in Economic growth and development there is increase in population in area such as Ewet housing estate in the State.

The study site Uyo Local Government Area also shares the west boundary with Rivers and Abia state. Uyo lies between latitudes and Longitudes 5010′ N and 803’E in the North and East respectively. In terms of occupation, majority of people within the study location are public servant. Some engage in private business such as buying and selling within the designated locations in the Uyo, the State capital.

 

Specifically, the Ewet Housing Estate was founded in 1973 to provide housing for all categories of civil servants in the then Cross River State. Before the creation of Akwa Ibom State in 1987, this group was the main owner-occupiers. However, after the state’s creation, demand for plots in the estate was accelerated, paving the way for the original inhabitants, particularly the low-income group, to be systematically bought out by attractive offers.

Ewet housing estate illustrates the typical residential environment of many housing estates in the country, where quality houses are located in unsightly surroundings. A field survey by the authors has shown that more than 60% of the housing stock in the estate is made up of modern and palatial houses, built within the last three decades or so. From visual observation, it is evident that despite the current lull in other economic activities in the state, house construction within the estate has continued unabated, with well over 93% of the total land area already built. Over the last two decades, hotel establishments have become an added feature of the estate.

Today, Ewet housing estate, the first of the many estates in Uyo (Nwanekezie & Ezema, 2019), with a total land area of over 280 hectares, has become an exclusive area for the nouveau riche as politicians, former local government chairpersons, political office holders, and rich businesspersons own palatial houses within the estate.

 

Ewet housing estate is comparable in terms of status to first-class public housing estates in other states of the country, such as Lagos State (Junot, 2022), Adewale et al., 2015), and Ogun State (Ibem & Alagbe, 2015). The estate is managed by a state government agency called Akwa Ibom Property and Investment Company (APICO).

Even though the estate is mainly a residential area, some commercial (examples are hotels, recreational centres, eateries, and schools) and religious buildings abound with a good road network and proper drainage system. These were considerations for the choice of Ewet housing estates among other estates (Federal, Osongama, Akwa Ima, Aka Itiam, Akpasak, and Shelter Afrique housing estates) in Uyo, Akwa Ibom State. The problem of this study therefore is to examine the challenges encountered in the management of this class of residential property and proffer possible solutions to the challenges.

 

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