PROPERTY MANAGEMENT CHALLENGES IN A SLUM AREA

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PROPERTY MANAGEMENT CHALLENGES IN A SLUM AREA

ABSTRACT

This work discusses property management challenges in a slum area. A hundred and twenty questionnaires were distributed among residents and people from selected slum areas in Nigeria. Interviews and surveys were also conducted.

Primary and secondary data will be used in the analysis. Tables and percentages will also be used as the instrument of analysis

It will be observed therefore that property management challenges have a strong and significant effect on value of properties, it also have a significant impact on socio-economic development. There is a strong relationship between property management and economic development.

TABLE OF CONTENT:

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

1.2 Statement of the Research Problem

1.3 Objectives of the Study

1.4 Significance of the Study

1.5 Research Questions

1.6 Research Hypothesis

1.7 Conceptual and Operational Definition

1.8 Assumptions

1.9 Limitations of the Study

CHAPTER TWO

LITERATURE REVIEW

2.1 Sources of Literature

2.2 The Review

2.3 Summary of Literature Review

CHAPTER THREE

RESEARCH METHODOLOGY

3.1 Research Method

3.2 Research Design

3.3 Research Sample

3.4 Measuring Instrument

3.5 Data Collection

3.6 Data Analysis

3.7 Expected Result

CHAPTER FOUR

DATA ANALYSIS AND RESULTS

4.1 Data Analysis

4.2 Results

4.3 Discussion

CHAPTER FIVE

SUMMARY AND RECOMMENDATIONS

5.1 Summary

5.2 Recommendations for Further Study

References

CHAPTER ONE

INTRODUCTION

Background of the study

Societies in pre-independence Africa countries have been predominantly rural for the most part of their history. By the mid-20^th century, most Africa countries began to gain independence from their colonial masters which led to apparent changes in their social and economic lives. The emerging independent countries experienced a rapid and profound reorientation of their social and economic lives that caused attraction towards cities leading to urbanism. Urbanization was first noticeable in the state capitals and later in various expanding cities and trade routes.

UNCHS (2002) defined a slum variously has “a term used to describe a wide range of low-income settlements and/or poor human living conditions”. The definition also encompasses housing areas that were once respectable or even desirable, but which have since deteriorated, as the original owners have moved to new or better areas of the cities. The term slum, has, however come to include also the vast informal settlements that are quickly becoming the most visual expression of urban poverty (UNCHS, 2002). The quality of dwellings in such settlements varies from the simples shack to permanent structures, while access to water, electricity, sanitation and other basic services and infrastructure tends to be limited.

The Merriam-Webster’s Collegiate Dictionary (2003) defined a slum as “a densely populated usually urban area marked by crowding, dirty run-down housing, poverty, and social disorganization”.

A squatter settlement on the other hand is a land (especially public or unoccupied land) settled on by resident urban poor or rural urban-urban migrants (squatters), without right

or title.

There are various reasons why slums still exist and why they will continue to exist despite various interventions by the public and private sectors. One of such reasons is the

inability of formal shelter delivery systems to cope with demand. The simplest answer relates to the economic logic of land and housing markets. A change from policies of interventions to liberalization has consequently brought about an increase in commercialisation of land and housing markets. And as rightly pointed out in UNCHS

(1993), “in any commercial market, choice is a positive function of income”. The consequences is that the very poor have no choice in housing at all, and have to live where no else chooses to live. Secondly, slum development is closely linked to general economic development as it relates to employment and wages. As stated recently in the

Habitat Debate; Slums “play a useful role in providing cheap (though not necessarily cheerful) housing for those who cannot or, as likely, will not, want to spend more on housing than they possibly can” (UNCHS, 1993).

Statement of the problem

Property management have posed a huge set of challenges to property managers in slum areas. There have been a growing concern by real estate developers on how to effectively manage properties in slum areas. This research pushes the boundaries of knowledge and is for investigating mitigative ways to go around on eliminate the challenges as the case may be.

Objectives of the study
To understand the impact of effective property management in development of slum areas
To understand the relationship between property management, estate development and economic development