PROBLEM AND PROSPECT OF COMMERCIAL PROPERTY MANAGEMENT IN NASARWA STATE

PROBLEM AND PROSPECT OF COMMERCIAL PROPERTY MANAGEMENT IN NASARAWA STATE

ABSTRACT

This paper examines the problem and prospect of commercial property management in Nasarawa, Nasarawa State, Nigeria. Data for the study were obtained from property managers in licenced Estate Surveying and Valuation Firms operating in Maiduguri Metropolis. Thus purposive random sampling technique adopted in selecting all the [eight (8)] active Estate Surveying and Valuation firms and  duly analyzed using tables and percentages. The challenges identified include: default in rent payment (100%), delinquency maintenance payment /service charge by tenants (94%), insufficient information on tenant to aid in tenant selection  (90%), vacation of premises by tenants without notice (87%), improper use of available  facilities by tenants in the premises (84%), insistence on down-ward review of rent by tenants (81%), sneaking in extra people or animals by tenants (71%), carrying out of illegal business by tenants (68%), illegal occupation of premises by IDPs (65%) fighting or domestic dispute among tenants (61%), constraint in inspection of premises due to tenant behaviours (58%) and difficulty in payment of commission on part of the tenant (39%). It is suggested that there is the need for the property manager to take enough time to find out some basic information about the prospective tenant: and should establish and review from time to time standards or criteria for tenant selection as the situation demands.