AN ANALYSIS OF THE STATE OF MAINTENANCE ON RENTAL VALUES OF RESIDENTIAL PROPERTIES IN UNGWAN RIMI KADUNA

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AN ANALYSIS OF THE STATE OF MAINTENANCE ON RENTAL VALUES OF RESIDENTIAL PROPERTIES IN UNGWAN RIMI KADUNA

ABSTRACT

The aim of this study is to examine the impact of the state of maintenance on rental value of residential properties in Ungwan Rimi, Kaduna. To achieve this aim, the study seek to identify the various types of residential properties, assess the state of maintenance of residential properties, compare the rental value of dilapidated residential properties with well maintained residential properties and evaluate the impact of the state of maintenance on the rental value of residential properties. Survey design was employed in obtaining data necessary for the study and were presented using tables, percentage and descriptive analysis. The study revealed that the state of maintenance of residential properties have significant impact on rental values of residential properties in Ungwan Rimi Kaduna state. Finally the study recommends that property developers and investors should carryout feasibility study to know the types of residential properties that is more viable in the study area so as to make more profit from their investments and that the government should make policies and laws that force property owners or manager to maintain their properties properly for safety of life and properties; invariably impacting positively on the quality of life in the area.

CHAPTER ONE

INTRODUCTION

1.1       BACKGROUND OF STUDY

Sustainability and utmost utilization of capital investments in residential properties or real estate investment of any nation has been a major and global dialogue most especially in developing countries where infrastructural development is still at the infancy. This is because most of government expenditures and investments focus on infrastructural development such as road, power, water and housing even though the challenges in the developed nations is sustainability. One of the ways for sustainability is the maintenance of the existing stock of infrastructural facilities and services especially in residential properties (Odediran, Opatunji and Eghenure, 2012).

Maintenance according to BS 3811 is the construction of all technical and associated administrative actions intended to retain an item in or restore it to a state in which it can perform its required function. Oladimeji (2016) further described maintenance as the combination of any actions carried out to retain an item in or restore it to an acceptable condition. Onwuka (2014) stated that maintenance management is concerned with the planning and control of construction resources to ensure that necessary repairs and renewal are carried out with maximum efficiency and economy. According to Smith (2013), maintenance is the work or a combination of actions associated with initiation, organization and implementation carried out to retain an item in or restore it to an acceptable standard. Nevertheless, residential properties / building maintenance becomes more difficult according to age of the structure and this depends on the quality of the original building coupled with the rate of maintenance of the structure Adenuga (1999).

Generally, maintenance of residential properties received little attention from the users, designers and contractors. The users do not always make use of the property and the services in good condition, often users do not obey the information contained in the maintenance manual of the property if at all it exists. Most property owners sometimes endeavor to keep maintenance expenditure to the least, eliminating the consequent of the long-term effect of such action. On the part of the designers, they may forget the durability of the materials and its serviceability before including them in their designs.

The states of maintenance of residential properties have significant impact on the rental value such properties command as neglect of maintenance has accumulated consequences in rapid increase in the deterioration of the fabric and finishes of a building, accompanied by a harmful effect on the contents occupants (Seeley, 1997). Inadequate maintenance culture is a peculiar feature of almost every building in Nigeria, according to Rotimi and Mtallib (1995) is partly due to poor maintenance culture on one hand and partly due to the absence of an appropriate benchmark. It is against this background that this study seeks to analyse the impact of the state of maintenance on rental value of residential properties in Ungwan Rimi Kaduna.

1.2        STATEMENT OF THE PROBLEM

According to Mbamali (2013), maintenance culture is an attitude which is sadly lacking in Nigeria, whether in the home, office, school or factor. He further added that poor maintenance culture has become a widely recognized problem in Nigeria. Maintenance culture in Nigeria is the lowest around the World, especially, in our principal towns and cities. According to Wahab (2015) the nation accords low priority to property management. Mbamali (2013) also asserted that we have no maintenance policy and therefore no such culture exists. Neglect of maintenance has accumulated consequences in rapid increase in the deterioration of the fabric and finishes of residential properties and decrease in value, accompanied by a harmful effect on the contents occupants (Seeley, 1997). Gurjit (1990) asserted that lack of proper maintenance culture bring the life of a building last before reaching the total obsolescence state. The declining maintenance culture in Nigeria and its effect on residential properties has become a major problem to both the public and private sectors. This study therefore seeks to analyze the impact of the state of maintenance on rental values of residential properties in Ungwan Rimi Kaduna.

1.3      AIM AND OBJECTIVES OF THE STUDY

The aim of this research is to examine the impact of the state of maintenance on rental value of residential properties in Ungwan Rimi, Kaduna. To achieve the stated aim, the following objectives are to be pursued;

1.             To identify the various types of residential properties in Ungwan Rimi Kaduna
2. To assess the state of maintenance of residential properties in the study area.
3. To compare the rental value of dilapidated residential properties with well maintained residential properties in the study area.
4. To evaluate the impact of the state of maintenance on the rental value of residential properties.

1.     RESEARCH QUESTIONS
2. What are the various types of residential properties common in Ungwan Rimi Kaduna?
3. What is the state of maintenance of residential properties in the study area?
4. What are the differences between the rental value of dilapidated residential properties and a well maintained residential properties in the study area?
5. What is the impact of the state of maintenance on the rental value of residential properties in Ungwan Rimi Kaduna?

1.5       SIGNIFICANCE OF THE STUDY

The findings of this study will be important as it would not only contribute to the theory and knowledge but will also contribute to the effectiveness of maintenance of residential property. This is because the study will attempt to find out the impact of the state of maintenance of residential properties and its impact on rental value.

 The finding of this study will be relevant to residential property owners and investors as it will enlighten them on the importance of imbibing the culture of good maintenance for their properties, as the state of the property greatly impact on the rental value it command.

The stakeholders such as government agencies and law makers will find the findings of study relevant as it will enable them know the effect of poor maintenance of residential properties in cities and urban centers on the environmental qualities, thus enable them to make policies that will compel property owners to maintain their properties thereby enhancing healthy environment.

This research work would be of great significance and relevance as it will serve as a source of information for further into the impact of maintenance on the rental value of residential properties and other related topics.

1.6       SCOPE AND LIMITATIONS OF THE STUDY

The scope of this study is limited to the analysis of the state of maintenance on rental value of residential properties in Ungwan Rimi, Kaduna State. This study will be further limited to only residential properties such tenement building, flats and bungalow.

Limitations

The following problems were encountered in the course of carrying out this research:

1. Financial constraint– Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
   1. Time constraint– The researcher was simultaneously engage in this study and other academic work. This consequently will cut down on the time devoted for the research work
   2. Un-cooperative attitude and Ignorance of some respondents– As a result of the above limitation and constraint, the research was based on the available information and data at my disposal and the people made it difficult for me to collect important information for the research.

1.7        DEFINITION OF OPERATIONAL TERMS

1. Maintenance: According to Ajayi (1998), define maintenance as a “work undertaken in order to keep or restore every facility, i.e. every part of a site, building and contents to an acceptable standard”.
2. Rent: The universal dictionary of the English language (1971) defined rent as the regular payment made for the use of land or buildings that belongs to someone else. The Economist defined rent as “the revenue from land resources that is equal to the value of its marginal services rendered in a productive process” (Richfield, 1974).
3. Rental value: According to Bergel (2002), define fair market value of property while rented out in a lease. More generally, it may be the consideration paid under the lease for the right to occupy, or the royalties or return received by a lessor (landlord) under the license to real property.
4. Properties:           According to the High Court, the Court of Appeal and the Supreme Court, property is the right to possession, enjoyment and disposition of all rights and things subject to ownership. Property is therefore a legal right expressing the relationship between a person, the owner and his possession of the thing owned.
5. A Residential Property: According to Chika, E.U. (2006) define residential properties are used as dwelling accommodation, which is otherwise known as houses. It could be rural, urban and sub urban houses. It also varies in design.

1.8       HISTORICAL BACKGROUND OF THE STUDY AREA

Kaduna North is a local government area in Kaduna state, Nigeria, headquarters are in the town of Doka, it has an area of 72 km 2 and a population of 364, 575 as at the 2006 census. The post code of the area is 700. The area has a mixed of population, but the major dominants ethnic groups are the Hausas, the major religion is Islam, the local government is under the jurisdiction of Zazzau emirate. Hence the people consider themselves Zazzegawa. Kaduna North is a Local Government Area in Kaduna State, Nigeria. Its headquarters are in the town of Doka. It consist of the following settlements: Kawo, Sabon Kawo, HayinBanki, RafinGuza, UnguwanDosa, Badarawa, Malali, Unguwan Rimi, Unguwan Yero, Unguwan Kanawa, Kabala, Abakpa, Unguwan Shanu, central business district (CBD) and Kwaru. It is bordered by Kaduna South, Igabi, and Chikun local government areas. It has a mixed population with Muslims and Hausas being dominant. The area comprises of 626 hectares of land area, and it comprises of the following districts: (a) Doka, (b) gabassawa (c) Kawo; and (d) Ungwan Shanu. The local government was introduced in 1991 from the former Kaduna local government, it is centered within the state (Kaduna) bordered by Chikun local government of the South-eastern of the state, at the South west as well as Igabi local government area (North west) The name was derived from (Kadna) the crocodile at the beginning stages, this is due to the dominance of crocodiles in the only river that flows across Kaduna from Kangimi River. The plural of crocodile in Hausa language was “Kaduna” which was called crocodile and the state was name after the plural of crocodile in the Hausa language; it became a garrison town (a number of soldier for guarding a fortress, town etc). And been an administrative center for colonialism and capital of regional government in 1966, under the leadership of Sardauna “Sir Ahmadu Bello”. The Secretariat is “MagajinGari” was named after Abdullahi Sambo Magajin Zazzau in Kaduna, it was under the control of Zaria Native authority, the Emirate of Zaria said Mallam Abdullah Sambo as his representative in the establishment of Kaduna North as requested by the Lord Lugard. Traditional Settlement Kaduna was under the control of Zaria Natives as earlier mentioned, therefore Lord Lugard request the Emir to send one of this title chiefs to represents him in the establishment of the province in the Northern region of which Mallam Abdullahi Sambo was sent to represent the Emir, the Magajin Garin Zazzau. For the purpose of bringing Kaduna together with political complexity, the districts head of Kaduna is under the royal kingdom of Zazzau. Although they are employees of Kaduna North local government, this indicates clearly that they are in one way or the other not under the traditional council of chiefs. The Local Government consist of three districts.

The entire Kaduna state is underlain by a basement complex of igneous and metamorphic rocks of mainly Jurassic to Pre-Cambrian ages. The basement complex rocks are essentially granites, gneisses, migmatites, schists and quartzites (Benett,1979;13).The geology of Kaduna North is predominantly metamorphic rocks of the Nigerian basement complex consisting of biotite gneisses and older granites (Kaduna State, 2003). The topographical relief is relatively flat, having an elevation of between 600–650 metres in large areas of the local government. It is over 650 metres above mean sea level (a.m.s.l.) in some places, and below 500 metres in places that slope downward towards the river. Kaduna North lies completely in the part of Western Africa, well within the northern limit of the movement of the Intertropical Convergence Zone(ITCZ). It is characterized by two distinct seasonal regimes, oscillating between cool to hot dry and humid to wet season.

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 SOLD BY: Excellent Project| ATTRIBUTES: Title, Abstract, Chapter 1-5 and Appendices|FORMAT: Microsoft Word| PRICE: N3000| BUY NOW |DELIVERY TIME: Within 24hrs. For more details Chatt with us on WHATSAPP @ https://wa.me/2348055730284