LANDLORD AND TENANT RELATIONSHIP, ITS EFFECTS ON PROPERTY VALUES IN OWERRI URBAN OF IMO STATE

 

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ABSTRACT

In long-term business relationships the customer experience is affected by how the customer perceives the quality of customer relationship. The purpose of this paper is to understand the customer relationship quality construct in tenant relationships in a business-to-business environment.

METHODOLOGY / APPROACH: The theoretical framework is adapted from relationship marketing literature and this is then applied in case study settings to five customer companies in a landlord and tenant relationship. The paper framework of 13 relationship quality attributes and applies these to the case companies. Findings: The results suggest that some of the suggested relationship quality attributes have an importance in a landlord relationship while some suggested attributes have less value.

Research limitations /implications:- The case studies were conducted in companies that occupy office premises in multi-user.

Originality/value: This paper introduces theoretical understanding from relationship marketing literature into the real estate and adds practical understanding of customer relationship management into the rental business.

 

TABLE OF CONTENTS

CHAPTER ONE

• Introduction

1.1     Background of study

1.2     Statement of problem

1.3     Aim and objectives,

1.4     Research questions

1.5     Significant of the study

1.6     Scope of the study

CHAPTER TWO

2.0     Literature Review

2.1     Guidelines for tenants

2.2     Landlord-Tenant Relationship defined

2.3     A landlord- Tenant Relationship checklist  communication – a critical skill

2.4     Landlord – Tenant

2.5     Landlord – Tenant Relationship

2.6     Landlord – Tenant Responsibilities

2.7     Landlord – Tenant Relationship: Rent increase

2.8     Managing Landlord – Tenant Relationship: A strategic perspective.

2.9     Recovery of premises: An assessment of Landlord – Tenant law in Nigeria.

2.10   Changes not only will affect Landlord, tenants, but could alter property values too.

2.11   The tenant’s property.

CHAPTER THREE

3.0     Researhc methodology

3.1     Research design

3.2     Method of data collection

3.3     Sample size

3.4     The sampling technique

3.5     Data Analysis technique

CHAPTER FOUR

4.0     Presentation and Analysis of data

4.1     Data presentation

4.2     Hypothesis

CHAPTER FIVE

5.0     Summary, Conclusion and Recommendation

5.1     Summary of findings

5.2     Conclusion

5.3     Recommendation

References

Questionnaire

 

 

CHAPTER ONE

1.0     INTRODUCTION:

Admassiey. (1995), The purpose of this article is to analysze the impact of a landlord and tenant ordinance (LTTO) on property values, using time series data for the city of Evanston, Illinois, where the ordinance has been enacted since 1975. The empirical data analysis, which includes a trend analysis of heroin price indices for both rental and owner-occupied property has shown that L.T.O is not likely to significantly affect HOUSING VALUES. Those remedies provided in the landlord and tenant ordinance are not likely to be radical departures from the current practices such as housing / building code, and can therefore not be expected to affect housing values substantly.

This research was supported by a grant from the office if Real Estate Research at the university of Illinois. We acknowledge helpful comments from professor peter colwell, and the good research assistance of Theresa Cherniak and Michael Duncan.

Acting in landlord and tenant malters for commercial owners or occupiers requires knowledge of legislation (such as the landlord and tenant Act 1954) and case law as well as and understanding other commercial property.

JH Walter has a rich supply of comparable evidence on which to draw to establish a verifiable basis for rent review or lease renewal backed by the experience of our surveyors whi are also active agents in the market place. Brought together with technical and legal data, this make us well placed to negotiate the best deal for our clients whatever the market conditions while giving realistic advice about the possible outcome of dispute resolution.

 

Restructuring of lease can prove an attractive proposition for both landlord and tenant. We offer advice to ensure that clients pay and receive compensation at appropriate levels to reflect changing rental income, lease term and capital value. At lease expiry, both owners and occupiers seek our support in dilapidations claims. (Dilapidation: the extent to which the property falls short of the repairing obligations of lease). We negotiate claims including guidance on the distinction between repair and improvement and the limit of tenant liability on claims where diminution in value (Lost Value) is less than the cost of repair. We advised in rent review of a prominent shop in an unusual retail pitch but one attractive to specialist retailers. Gathering evidence form nearby lettings and other reviews, we helped our client understanding the opportunities and argument possible including adjustments for location, return frontage, unusual layout and repairing obligation beyond matters of value, we gave guidance on required notices and issues of timing in connection with other rights and obligations in the lease.

HISTORY

          The landlord and tenant relationship is defined by existence of a leasehold estate.

i      Traditionally, the only, obligation of the landlord in the united states was to grant the estate to the tenant.

ii     Although in England and Wales, it has been clear since 1829 that a landlord must put a tenant into possession.

iii    Modern landlord – tenant law includes a number of other rights and duties have been codified in the uniform presidential landlord and tenant Act.

• STATEMENT OF PROBLEM

1)      An essential ingredient in the achievement of the objective of landlord and tenant in entering into contract is cordial relationship although the interest of the parties are not mutually exclusive, conflict in the relationship can prevent landlord from earning a fair returns on his investment in the property just as the desire of the tenant to derive maximum utility from occupation will also suffer defeat, the society will be worse of it.

2)      Therefore to give opportunity to all ranks of interests associate with the particular property to be exercised without friction the lease sets landlord and tenant.

3)      The landlord nor the tenant meets his obligations under the lease because with the steady fall in the real value of his income the tenant finds it difficult to pay his rent promptly or sufficiently of utility bills. The obvious consequence is conflict in relationship between landlord and tenant.

 

1.3 AIM AND OBJECTIVES

          The main aim of this study is to proffer resolution of conflict which has being in existence between landlord and tenant relationship.

1. To ascertain causes of conflict in landlord and tenant relationship.
2. Identify methods adopted in resolution of these conflicts
3. Identify and recommend ways of improving resolution of conflicts

in landlord and tenant relationship.

1.4 RESEARCH QUESTIONS

          This study was undertaking to address the following research question.

1. What constitute a landlord and tenant?
2. What are the causes of conflict in landlord and tenant relationship?
3. What art h method to b adopted in conflict resolution.

 

1.5     SIGNIFICANC OF TH STUDY

1. Certificate or other document relating to any land, lease, or change.
2. Summon any person to appear before him and give information relating to any land, lease, or change in question.

• Refuse an application for registration where any instrument, certificate plan or other document has not been produced pursuant to paragraph or where an act required by the Registrar to be performed has not been performed

1. Administer Oaths or affirmations.
2. Require that any proceedings, information or explanation be conducted or given on Oath, as the case may be.

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1.6     SCOPE OF THE STUDY

After the coming into force of this act, land a lease or a charge registered under this Act may not be disposed off, except in accordance with this Act, and nay disposition, except under this Act for the purpose of creating, transferring, varying or affecting any estate, right or interest in any land, lease or charge is of no effect.

Nothing in section 40 shall be construed as preventing an unregistered instrument form operating as a contract, but no action may be brought upon any contract for the sale or other disposition of land or any interest in land, unless the agreement upon while such action is brought or some memorandum or note thereof is in writing and signed by the party to be charged or by some other person there unto by him lawfully authorized.

 

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INVESTMENT IN AGRICULTURAL PROPERTY AS A CATALYST IN ORUMBA NORTH L.G.A OR ANAMBRA STATE

 

 

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ABSTRACT

Investment in agriculture was purely on subsistence basis in the past until recent when it has been operated on large scale. It is a booming venture in developed countries of world. In Nigeria, it is mainly focused on cash crops. Live stocks, fishery. Wood lands pasture lane etc. Most of them are owned by government and their agents. The emphasis and campaign placed on agricultural property investment has made individuals to embark on such venture. Due to the fact that the benefit derived from agriculture and numerous, the government has started giving proper attention to investing in agricultural properties rather than hoping on oil for the economy. In this project research work, the main objectives are to discuss, on the investment in agricultural properties as a catalyst in Orumba North local Government Area, the types and their importance the impacts, problems affecting it etc. Going by the widely prevalent thirst are urge for investing in agricultural property however, my recommendations are conclusion are very lively to favour the positive effects.

 

TABLE OF CONTENTS

CHAPER ONE

• Introduction

1.1     Background of study

1.2     Statement of problem

1.3     Research questions

1.4     Purpose of the study

1.5     Significant of the study

1.6     Limitation of the study

1.7     Definition of terms

CHAPTER TWO

2.0     Literature Review

2.1     History / overview

2.2     Source of investment (investment options)

2.3     Property as an investment

2.4     Investment in Agricultural property in Nigeria

CHAPTER THREE

3.0     Research methodology

3.1     Background and location of the study

3.2     Types of Agricultural property investment in Orumba North L.G.A

3.3     The benefits of Agricultural property investment

3.4     Research Methodology and data collection

3.5     Sources of data collection

3.6     Types of technique used

CHAPTER FOUR

4.0     Problems affecting agricultural property investment.

4.1     The impact of agricultural investment property

4.2     Problems affecting agricultural property

4.3     Possible solution to the problems

CHAPTER FIVE

5.0     Summary, Conclusion and Recommendations

5.1     Summary

5.2     Conclusion

5.3     Recommendation

References

 

 

CHAPTER ONE

• INTRODUCTION:

1.1   BACKGROUND OF THE STUDY

Investment in agricultural property is not advanced as that of developed countries of the world. Agricultural property investment amounts to all investment operation in such property as cash crops, livestock, pasture land, cottage etc.

Nigeria generally is blessed with fertile and large area of land with abundant human and natural resources, which if harnessed effectively under the guide and supervisor of the experienced property manager  (Estate surveyors) will help a lot in solving the battered economy of Nigeria.

Inspite of the numerous benefit derived from agricultural properties, Nigeria still give it little attention they keep on hoping on crude oil for the economy instead of diversifying her investment in other resource like Agricultural property.

With the benefit ard returns realizable form the investment in agricultural properties, it will serve as an alternative. Sources of life and a catalyst for speeding development of rural areas.

1.2   STATEMENT OF PROBLEM

Investment in Agricultural properties in rural areas amounts to under utilization of both natural and human resources to boost the increase in production of food and cash crops etc in large quantity.

This work is made to know how agricultural investors would achieve their objectives. It will be shown that agricultural property investment is a worthwhile and beneficial venture forming the catalyst to rural development and economic revetry of Nigeria’s battered economy.

 

1.3   RESEARCH QUESTION

Due to some hindrance encountered in agricultural investment in some area: the following questions were emanated on its effect to the area of study.

1. Will agricultural investment reduce the increase of unemployment in the country?
2. Is there any formal training for investors?
3. can the investors in agricultural properties receive any grant, from he government?
4. What are the major problem facing the investment in agricultural properties?

1.4   PURPOSE OF THE STUDY

The main purpose of this research work of agricultural investment as a catalyst to Orumba North Local Government area centers of the following:

i       To assess agricultural property investment as a catalyst to rural, development.

ii      To assess different investment as an agricultural property.

iii     To examine investment in agricultural properties in order to assessing the benefits.

iv     To examine the problems facing the investors in Agricultural property.

v      The make recommendations on how the agricultural properties can be handled in order to make the best use of it.

 

1.5   SIGNIFICANCE OF THE STUDY

This project work is basically concerned on the returns from investment in agricultural property, therefore, every effort is eared to explore and expose some.

To that effect, the study limit itself within the bounds of investment operations in agricultural properties in Orumba North local government area. it does organized in such a way that the study is made on specific benesity from the government and individual or private investors point of view.

 

• LIMITATIONS OF THE STUDY

Some unavoidable limitation encountered by the researcher when conducting the project have hindered a comprehensive research work. These includes:

• Time Dimension: The time factor has a serious input in conducting this research work. Time lay between the short academic calendar makes the researcher to rush the work thereby boycotting some necessary findings.
• Lack of finance: Since the research work being done within limited income while there is a drastic increase in the cost of terms like transportation fare, typing and binding. These are the major expenses involved in it which has to be limited to the available income.

1.7               DEFINITION OF TERMS

INVESTMENT: This is the giving up of a capital sum in return for an income or benefit to be derived periodically. At times, the return is a lump sun or in a non-monetary form (benefit).

AGRICULTURE: This means as the cultivation of the land for the purpose of producing food for man, feed for animals and raw materials for industries.

PROPERTY: This is the right an individual or group of individual exercise over a thing. It includes the exclusive right to use, possess and exclude others.

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AGRICULTURAL PROPERTY INVESTMENT: This is he operation on such properties as cash crops. Livestock, pasture lane, cottages and farm, houses, dairy and arable faming and fishing.

RURAL AREA: It refers to that portion of area which are situated outside urban and cities location. Rural areas are predominantly undeveloped lands occupied of green or natural environment viably grass, forestry etc.

DEVELOPMNET: This is a systematic enrolment of potentialities of a thing. For example land.

RURAL DEVELOPMENT: This term is used to improve the economic and social life or the people the rural area such as housing, electricity, water,

 

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