Evaluating the Problem of Rent Collection as an Aspect of Residential Property Collection
CHAPTER ONE
OBJECTIVES OF THE STUDY
The aim of this study is “To evaluate the problems of Rent collection as an aspect of residential property management in Enugu”, with a view to making recommendations on how to address these problems;
The following objectives will help in achieving the aim of the study:
1) To determine the methods of rent collection by residential property owners in Enugu metropolis.
2) To determine the contribution of the government in rent collection.
3) To identify the problems of rent collection in residential properties in Enugu metropolis.
4) To make recommendations on possible ways to solve the identified problems of rent collection in Enugu metropolis.
CHAPTER TWO
LITERATURE REVIEW
CONCEPTS OF PROPERTY
LEGAL MEANING AND CLASSIFICATION OF PROPERTY
Property is the subject matter of valuation. Like value, it is a word of common usage, but unlike value, property, has a precise legal meaning. Both the exact meaning of property and its nature have strong bearing on valuation. What thesis meant by the word property?
In popular imagination and common usage, property suggests possession, or better still, the belongings of a person which he can deal with as he likes. This accord with the Latin derivation of property, “properties”, “proritus”, meaning, one’s own, (Ajayi, 1998). In law property is defined as the highest right a man can have to anything, being that highest right a man can have to anything, being that right while, one has to lands or tenements, goods or chattels which does not depend on anthers courtesy. (Hill, 1961)
Property in law has three different connotations:
- The Right of Ownership: Where a man lends his goods to a friend, the property is still the man’s own. While the goods are with the friend, the property in the goods remains in the lender. We thus speak of property in land, which is in the possession of another. This includes right to use, right to alienate, right to assimilation, right to succession, right to claim to title.
- The Objective of Ownership: It may be said that certain goods are the property of a certain many or speaking of land, that the property of one man adjoins the property of another, or that the property may consist either of immovable things, such as Lander of movable things as coined money.
- Valuable Things: Such as assets or things which can be owned and which can be turned into money or assessed at a money value. In other words, rights and assets, which may be exchange for the ownership of money, are valuable and therefore property. It is the last sense that the word property seems to be used when a man speaks of all his property, or of his real as opposed to his per soured property.
MEANING OF PROPERTY FOR APPRAISAL
Appraisal usage peteives property as importing into itself all these ingredients, both in law and common usage, namely tangible, intangible and Rights, ownership, monetary value and legal assertion.
We can thus define property for valuation purposes:
“Corporeal and incorporeal, tangible and intangible things, capable of pecuniary and legal assertion, over which ownership gives control” (Ifediora 1995). The meaning of the word property, when used in connection with value and valuation, is closely associated with the idea of ownership. In fact, a “valuation” can be defined as the determination of the monetary value at some specific date, of the property right encompassed in the ownership. (Ifediora,1993) These right are the exclusive rights to possess, to enjoy, and (in some case) to dispose of a thing owned. Property rights devolve on the legal concept of ownership. In general, the rights of ownership are rights which are defined and protected by law. It is the exercise of rights of ownership that animals, property to attain its value potential or usefulness (utility).
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
POPULATION OF THE STUDY
According to Udoyen (2019), a study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitute of individuals or elements that are homogeneous in description.
This study was carried out to evaluate the problem of rent collection as an aspect of residential property collection. Selected residents in Enugu metropolis form the population of the study.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of hundred and twenty (120) questionnaires were administered to respondents of which 100 were returned. The analysis of this study is based on the number returned.
The table above shows the gender distribution of respondents. 48% of the respondents were male and the remaining 52% were female. Thus, female respondents were slightly higher than their male counterparts.
CHAPTER FIVE
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS:
Introduction
This chapter summarizes the findings on the evaluation the problem of rent collection as an aspect of residential property collection, Enugu State as case study. The chapter consists of summary of the study, conclusions, and recommendations.
Summary of the Study
In this study, our focus was on the evaluation the problem of rent collection as an aspect of residential property collection, Enugu State as case study. The study is was specifically focused on examining the methods of rent collection by residential property owners in Enugu metropolis; determining the contribution of the government in rent collection; identifying the problems of rent collection in residential properties in Enugu metropolis and to recommendations on possible ways to solve the identified problems of rent collection in Enugu metropolis.
The study adopted the survey research design and randomly enrolled participants in the study. A total of 100 responses were validated from the enrolled participants where all respondent are residents of of Enugu metropolis.
Conclusions
With respect to the analysis and the findings of this study, the following conclusions emerged;
The government overtime have put up measures to help ensure that the process of rent collection is less cumbersome. These measures have come in form of rent control edicts and recovery of premises edicts, as well as the setting up of rent tribunals. These laws have been adopted by various states of the federation, and modified to address the problems of rent collection peculiar to their state. States such as Cross-River, Kwara, Anambra and Lagos State have done this. These laws will be reviewed in this study, in order to arrive at a better understanding of how these laws can be used to address the problems of rent collection in residential properties in Enugu metropolis.
Recommendation
Based on the findings the researcher recommends that;
- The practicing Estate Surveyors and Valuers should know that in fixing of rent, the rent passing on residential and commercial properties should not be the same.
- Property owners should always make rent passing on residential properties a bit higher than rent passing on commercial properties largely on the account of the use the property is put.
- Owners of properties should always put their properties to its highest and best use which as the findings revealed could be residential or commercial.
- Rent for commercial properties are best measured by per square metre (M2) while rent for residential are measured taking into consideration the number of rooms or flats provided.
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