Browsing by Author "Rukaiyat Adeola Ogunbajo"

Now showing 1 - 7 of 7

A CATEGORICAL MODELLING APPROACH FOR DETERMINING RENTAL HOUSE PRICES IN LOW-INCOME NEIGHBOURHOODS OF NORTH-CENTRAL NIGERIA
(Adekunle Ajasin University, Akungba-Akoko, 2022) Rukaiyat Adeola Ogunbajo; Rakiya Ibrahim Wali
Over the years, researchers in developing countries have applied varied methodologies to study housing attributes and house prices. This study utilised the categorical modelling approach to determine the contributory effect of housing attributes on rental house prices in a major town in North-Central Nigeria. A total of 827 housing units were sampled by stratified and random selection. The data used were generated through a questionnaire survey. Nine housing attributes were found to sustain residential buildings in the study area and these accounted for 45% and 61% variance in the rental prices of two major low-income house types. Results revealed that the identified housing attributes significantly predicted rental values for the sampled house types. The mean of predicted rental values was further computed for each house type and compared to the means of the actual rental values collated in the course of data collection and presented with line graphs. Results showed predicted values that are reasonably similar to the actual rental values of the dwelling units. This suggested a reasonably accurate prediction of rental house prices using the categorical regression approach. The study recommended the model to house managers to ensure accurate house pricing.
Assessing the Effects of Rental Default by Commercial Property Occupiers on Property Management in Minna, Niger State, Nigeria
(Josepy Ayo Babalola University, 2023) Zainab Adetoro-Folorunso; Rukaiyat Adeola Ogunbajo
One of the fundamental roles of a property manager in the property management process is his ability to collect rent on behalf of his client (landlord); rent is collected and given to the landlord to enable him to meet his investment needs. When rent arrears occur this could hinder the property owners or managers from attaining their objectives for investing in real estate. This paper fundamentally looks at the effect of rental default by commercial property occupiers on property management with experience from Minna, Niger State which is the study area. Thirty-eight property managers in the study area were surveyed with a structured questionnaire, twenty-eight were returned with a response rate of 74%. Data collected were analysed using descriptive statistical tools, analysis of the primary data depicts eleven (11) effects of rent defaults on commercial property management, of these eleven effects, income loss, reduction of annual rental yield and delay in payment of agent dues with an average means score of 3.91, 3.87, and 3.83 respectively, were ranked as the three most significant effects. The study recommended that property managers and owners should make adequate insurance provisions to protect themselves against rent arrears. Additionally, whenever any tenant fails to meet up with the agreement provided in the tenancy agreement without any genuine reason should be made to face the law.
Assessment of Residential Building conditions and Property Management Strategies in Minna, Nigeria
(UNIVERSITY OF LAGOS, 2016) Rukaiyat Adeola Ogunbajo
This study assessed the conditions of leasehold dwelling units and property management strategies in Minna, Nigeria. It sampled 328 dwelling units spread across selected neighbourhoods. Questionnaire were administered and used to solicit relevant data for the study. Simple percentages, total weighted scores, weighted mean, contingency table, chi square distribution, and phi coefficient were used to analyse collated data at various levels of the research. Findings revealed poor conditions of 55.2% of leasehold dwelling units. A computed chi square value (X2 = 48.965) indicated no statistical significant difference in the overall condition of dwelling units across the sampled neighbourhoods. Findings also showed that only 31% of dwelling units are managed by professional estate surveyors, periodic general renovations by property managers were not carried out in any of the sampled units, while 41% of respondents linked the management and maintenance of ancillary facilities in their neighbourhoods to community efforts and contributions. It further revealed that 51% of respondents were not satisfied with the management of their dwelling units, while 84% of residents were not satisfied with the management of ancillary facilities in their neighbourhoods. A chi square value (X2 = 14.965) and phi coefficient (φ = 0.209) revealed a weak, but positive and statistically significant relationship between building conditions and management type in the study area. The study emphasized the significance of effective and efficient management practices as key players in ensuring that residential buildings remain in good and decorative states or repair.
Assessment of void periods in residential buildinds in Minna, Nigeria
(UNIVERSITY OF THE WITWATERSRAND, JOHANNESBURG, 2024) Rukaiyat Adeola Ogunbajo; Shien Stephen Kuma
The period of void is a major challenge faced by investors in residential buildings in Minna. Re-letting vacant apartments takes a while, and in many cases, newly completed residential buildings experience voids. Therefore at what level of void periods, residential building types are most vulnerable, as well as locational differences are the critical questions that informed this study. Thus, the study aimed to provide an in-depth assessment of void periods in buildings among residential neighbourhoods in Minna, Nigeria. The objectives are to assess the level of void periods, analyse variations across residential building types, and explore neighbourhoodlevel differences in the study area. The study utilized a quantitative research design, employing a structured questionnaire that was distributed to ESVs, LEAs, and property owners who oversee the management of the 1,500 residential units that were selected for the sample in 13 different sted analysis of variance, and the Games-Howell post hoc test were used for data analysis. The findings revealed aggregate mean void periods of 4.87, 5.47, 5.13, and 7.03 months for tenement, 1-bedroom, 2-bedroom, and 3-bedroom residential building types. This outcome varies significantly among the building types across the 13 neighbourhoods in terms of those with high and low void periods. The study concludes that there are relatively high void periods in the Minna residential property market and the need for collaborative efforts towards stemming the tide.
Distribution and Access to Urban Infrastructure by Residential Property Occupiers in Minna, Nigeria
(University of Lagos, 2022) Rukaiyat Adeola Ogunbajo; Lateef A. Lawal; Sulaiman Adesoji Olabisi
Urban infrastructure encompasses the essential amenities, facilities, and services that make life easy and comfortable for residents within neighbourhoods. The provision of nine basic urban amenities across thirteen neighbourhoods in Minna, and measurement of access to amenities by households are the points of evaluation in this study. A total of 1,134 housing units were sampled using the stratified and systematic random sampling techniques. Data were generated from questionnaires, inspections and enumeration in the study area. Weighted mean scores were computed and indexed to determine overall accessibility to amenities. The location quotient (LQ) was used to estimate the degree of concentration of the amenities, while the Welch adjusted analysis of variance tested for a significant difference in the distribution of urban amenities across neighbourhoods. The adjusted Welch's F ratio was 2.959, which was significant at the 0.05 alpha level, suggesting an uneven distribution of amenities across neighbourhoods in the study area. This study emphasises that government at all levels should prioritise provision and development of amenities and also support efforts by communities regarding basic amenities and services.
EFFECTS OF SERVICE CHARGE ADMINISTRATION AND MANAGEMENT IN SELECTED MULTI-TENANATED COMMERCIAL BUILDINGS IN PHASE ONE, ABUJA.
(2022) Fatima Mohammed; Rukaiyat Adeola Ogunbajo
This paper assessed effects of service charge administration and management in selected multitenanted commercial buildings in phase one Abuja. The study was guided by these objectives which were investigating issues and challenges involved in the administration and management and assessing the occupant level of satisfaction. Data were collected by self-administered questionnaire and interview from eight (8) respondents from managers and 254 from tenant’s perspective respectively. Data was analyzed and presented using percentages, frequencies, relative satisfaction index and tables. Findings revealed that lack of transparency, lack of efficiency; improper accounting and poor facilities are the issues encountered. Howeve, the relative satisfaction index computed to show the satisfaction level of the occupants ranked Plumbing services 1st with relative satisfaction index of 0.7772, Cleaning of common services 2nd with relative satisfaction index of 0.718, refuse disposal 3rd with RSI with 0.653 while transformer maintenance has relative satisfaction index of 0 and ranked 13th. A number of guidelines should be taken in order to address the problems identified above which include Improved communication between manager and occupiers, clear disclosure of the basis for apportioning service charge costs between tenants among others.
Examination of Rental Default by Commercial Property Occupiers in Minna, Niger State, Nigeria
(2022) Zainab Adetoro Folorunso; Rukaiyat Adeola Ogunbajo
The effect of rental defaults by commercial property occupiers cannot be overemphasised, as the rate of default is increasing at an alarming rate. Rental default arises when occupiers of commercial properties fail to carry out their obligation of fulfilling the financial requirements as when due. This phenomenon has led to several issues on the part of the property managers and property owners, including delays in mortgage payments, poor maintenance, and a host of other problems. This study investigates the prevalence of rent defaults among owners of commercial property in Minna, Niger state, to stop this unsightly occurrence of rental default and related attendance concerns in commercial buildings. This is done to give property owners in the study region more authority over their decisions. The study used a survey methodology in which 311 residents of 38 purpose-built retail complexes (PBSC) received questionnaires via simple random distribution. The received data was examined using percentage and frequency distribution. The results depicts that 52% of the respondent pay their rents as at when do and 48% defaults in the in payment, this shows that the rent default amongst tenants of PBSC in study area is fair.