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The Need for Residential Tenancy Databases in Nigeria

Oloyede, S. A. and Ayedun, C. A. and Oni, A.S and Adegoke, O.J. (2014) The Need for Residential Tenancy Databases in Nigeria. Journal of Economics and Sustainable Development, 5 (12). pp. 216-222. ISSN 2222-1700 (Paper) 2222-2855 (Online)

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Abstract

Bad tenants can be a real problem for not paying rent on time or leaving properties in a mess. Lodged information about bad tenants in tenancy databases assists estate agents and landlords make more informed decisions. The study examines the need for residential tenancy databases in Nigeria. Often times, details on a tenancy application form may not be enough to make an informed decision about whether or not the applicant will be a good tenant. The study employed study focus groups using semi-structured face-to-face interviews to gather data among ten principals of estate surveying and valuation firms in Ikeja, Lagos on the one hand; ten prominent local estate agents; five prominent practicing lawyers, ten landlords of multi-tenanted properties and forty tenants within Baruwa/Ipaja neighbourhood in Alimosho Local Government Council area of Lagos State, on the other hand through purposive sampling method. The survey was carried out between September and December, 2013. Data were analysed using tables, percentages and ranking. The study showed that landlords, estate agents and lawyers ranked ability to guide and guard against loss of income to all participants in the real estate business as first and paramount reason for the call for tenancy database. The need to minimize capital loss to landlords was ranked second with ensuring a reduction in overhead expenses by landlords as third. However, public feelings about landlord’s rights on control of building use and character or emotions have no strong weight since for any business venture to be sustainable, a balance of power to a certain level, must exist between the investor and the product consumers.

Item Type: Article
Subjects: T Technology > TH Building construction
Divisions: Faculty of Engineering, Science and Mathematics > School of Civil Engineering and the Environment
Depositing User: Abiodun Caleb Ayedun
Date Deposited: 24 Feb 2015 09:08
Last Modified: 08 Sep 2017 09:06
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/3574

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