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EXAMINATION OF CAUSES OF TENANCY DISRUPTION AND ITS EFFECTS ON PROPERTY INVESTMENT IN ANAMBRA STATE, NIGERIA
Subject area: Physical Sciences and Environment · Area of research: Estate Management
Abstract
Tenancy disruption begets significant costs for landlords/investors, as each additional property falling vacant incurs costs with respect to the repairs, cleaning and re-servicing of the property, the costs in lost rent while it remains empty and the costs of re-letting the property to another tenant. To this effect, this paper examines the causes of tenancy disruption and its effects on property investment in Anambra State with a view to providing information to enhance decision making in property investment. The study adopted a survey method. The sample size was determined using simple random sampling technique. 396 questionnaires were administered by simple random sampling technique to respondents in three major cities in Anambra State namely: Awka, Nnewi and Onitsha. Results obtained revealed that non-payment of rent, habitual late payment of rent and breach of contract are the most important circumstances that results in tenancy disruption in Anambra State while loss of income to the landlord/investor, void on properties and delayed mortgage loan repayment are the most important effects of tenancy disruption in the study area. The study concludes with proposed preventive measures which when adequately utilized in property management procedures and services could forestall tenancy disruption in the study area
Keywords
Property Management, Property Investment, Tenancy Agreement, Tenancy Disruption
How to cite this paper
@article{1701632,
author = {Igwenagu Chukwudi Louis, Emoh Fidelis Ifeanyi, Obineme Chinaza Henry},
title = {EXAMINATION OF CAUSES OF TENANCY DISRUPTION AND ITS EFFECTS ON PROPERTY INVESTMENT IN ANAMBRA STATE, NIGERIA},
journal = {Iconic Research And Engineering Journals},
year = {2019},
volume = {3},
number = {3},
pages = {65-74},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1701632.pdf},
abstract = {Tenancy disruption begets significant costs for landlords/investors, as each additional property falling vacant incurs costs with respect to the repairs, cleaning and re-servicing of the property, the costs in lost rent while it remains empty and the costs of re-letting the property to another tenant. To this effect, this paper examines the causes of tenancy disruption and its effects on property investment in Anambra State with a view to providing information to enhance decision making in property investment. The study adopted a survey method. The sample size was determined using simple random sampling technique. 396 questionnaires were administered by simple random sampling technique to respondents in three major cities in Anambra State namely: Awka, Nnewi and Onitsha. Results obtained revealed that non-payment of rent, habitual late payment of rent and breach of contract are the most important circumstances that results in tenancy disruption in Anambra State while loss of income to the landlord/investor, void on properties and delayed mortgage loan repayment are the most important effects of tenancy disruption in the study area. The study concludes with proposed preventive measures which when adequately utilized in property management procedures and services could forestall tenancy disruption in the study area},
keywords = {Property Management, Property Investment, Tenancy Agreement, Tenancy Disruption},
month = {September},
}