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 handle 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 field of Estate Management unlike Licensed Agent who are doubts trying to maximize profit. The issue of property management has persisted in the Nigeria society for quite some time. Property management is the art and science of real estate with respect to its development, maintenance, cash flow from users and occupiers in order to achieve optimum benefits for the owner and all parties interested in the property within the ambit of relevant laws.
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 and does not become economically obsolete, it must be maintained.
- 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.
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