The Significance of Problems Associated with the Management of Commercial Properties in Enugu Metropolis

Stanley Chika Nwaogu, Ihemeje Ifeanyi Edwin and Chidubem Grace Ugwu
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Stanley Chika Nwaogu: Department of Estate Management, University of Nigeria, Enugu Campus, Enugu, Nigeria
Ihemeje Ifeanyi Edwin: Department of Estate Management, University of Nigeria, Enugu Campus, Enugu, Nigeria
Chidubem Grace Ugwu: Department of Estate Management, University of Nigeria, Enugu Campus, Enugu, Nigeria

International Journal of Research and Innovation in Social Science, 2022, vol. 6, issue 9, 36-41

Abstract: The principal objective of property management is to maintain a property in a state to command the greatest possible net return and to protect the owners capital investment at all times. Commercial properties are often relatively large and complex buildings which are multi-stored or high rise type. The complexity is viewed in terms of the bigness of the structure and diverse multiple occupants inform the need for specialized skill and training for effective and efficient service delivery. The absence of property management negatively affects the physical condition of commercial property due to poor maintenance. Therefore, it is important that the commercial properties are maintained in a sound condition to provide the greatest possible economic return. Effective property management is the only antidote necessary to generate maximum returns on property investment especially at this period of global economic crunch. The study adopted quantitative design. The population of the study are Estate Surveying and Valuation firms located in Enugu State. Hence the total population for the study is Forty-two (42). The study adopted simple random method while sample size is 38. The data was computed using factor analysis, variance, rotated component matrix and multiple regression analysis. The result confirms that poor usage of commercial properties is major problem confronting the management of commercial properties in Enugu which are not significant on commercial properties in Enugu. The implication is that problems associated with the management of commercial properties in Enugu does not have adversely affect the prospects attributed to such property investment.

Date: 2022
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