RECOVERY OF RENT ARREARS AND TREATMENT OF DIFFICULT TENANT IN RESIDENTIAL AND COMMERCIAL


RECOVERY OF RENT ARREARS AND TREATMENT OF DIFFICULT TENANT IN RESIDENTIAL AND COMMERCIAL  

ABSTRACT

Recovery of rent arrears has been one of the major problems identified in real estate management. The main purpose of the study is to show the root causes of default in rent payment and to look at the prevailing methods of rent recovery, and to proffer proper solution to prompt payments. The study will also look into the issue of difficult tenants and examine the best ways of approaching the matters. Conclusively the .study will provide likely solution to the problems of the recovery rent arrears and treatment of difficult tenant will be strictly looked into. This study will equally provides recommendation in alleviating the problems identified in this study.

TABLE OF CONTENT

Title page                                                                                                       

Certification                                                                                                  

Dedication                                                                                                     

Acknowledgement                                                                                       

Abstract                                                                                                        

Table of content                                                                                          

CHAPTER ONE

1.0       Introduction                                                                                       

1.1       Background of the study                                                                

1.2       Statement of problem                                                                      

1.3       Aims and objectives                                                                            

1.4       Methodology of study                                                                      

1.5       Scope of study                                                                                 

1.6       Limitation of the study                                                                    

CHAPTER TWO

Literature review                                                                             

2.1       Who is actually a difficult tenant                                                   

2.2       Types of leases                                                                                

2.2.1   Monthly leases                                                                                 

2.2.2   Biannual leases                                                                               

2.2.3   Annual leases                                                                                  

2.3       Landlord-tenant relationship                                                         

2.4       Contractual obligation                                                                    

2.5       Structure of lease agreement                                                        

2.5.1   Conditions of lease                                                                         

2.5.2   Express and implied conventions                                                          

2.6       What is rent                                                                                          

2.7       Causes of rent default                                                                    

2.8       Method of rent recovery                                                                  

2.9       How to treat a difficult tenant                                                        

CHAPTER THREE

Introduction                                                                                      

3.1       The study area                                                                                 

3.2       Data collection                                                                                 

3.3       Sample frame and sample size                                                     

3.4       Sampling techniques                                                                      

3.5       Uses of questionnaire to collect data required for the study.   

3.6       Method of data analysis and presentation                                 

CHAPTER FOUR

Data analysis and presentation                                                   

4.1       Distribution of the respondent according to their age               

4.2       Distribution of the respondent according to gender                  

4.3       Distribution of the respondent according to marital status       

4.4       Management of property                                                                

4.5       Types of properties (residential and commercial)                      

4.6       Factors affecting quite enjoyment of the respondent                

4.7       Maintenance of the property                                                          

4.8       Payments of tenements rate                                                          

4.9       Auxiliary services                                                                             

4.10    Duration of tenancy                                                                                    

4.11    High consistency of rental value                                                  

4.12    Rental value of some residential and commercial properties. 

4.13    Opinion of the respondents on whether there is difficult

tenant or not                                                                                    

4.14    Distribution of the factors that make tenant to be difficult        

4.15    Method of recovery of rent arrears for difficult tenant              

CHAPTER FIVE

Summary of findings, recommendation and conclusion        

5.1       Summary of findings                                                                       

5.2       Recommendation                                                                            

5.3       Conclusion                                                                                                

References                                                                                       

Appendix                                                                                          

CHAPTER ONE

      INTRODUCTION

1.1       BACKGROUND OF THE STUDY 

Recovery rent arrears and treatment of difficult tenants has been identified as a major set-back in property management. These aspects of management functions are being confronted with many problems because rent payment depends mostly on income earn from business carried out in the property. These earning and income are usually affected by changing economic condition and personal circumstances of tenants which cannot be predicted and out of control of tenants, the managing agents and the landlord.

This topic no doubt has drawn priority attention in several seminars, symposia and even in one of the annual general conference of the Nigeria institution of the Estate Surveyors and valuers all with the view to arriving at a lasting solution to the problem. And as all efforts are being channeled towards the eradication of this incident in the property industry. More cases of the rent default by demands .continue to discourage the efforts.

The urge to write on this topic started when we visit one estate surveyor and valuer called Ajilex property which is located at “itakogun” area of Ilesa, he had so many properties on his hand with concern was the property that was located at No. 36 Oke Opo GRA at Ilesa. The tenants was arrears of rent for over four years, and him remit all his rent arrears to the property owner, knowing the legal implication of litigation which will not be in the interest of their client they continued by the way of dialogue to a point that the landlord decided to take the matter to the point that the landlord decide to take the matter to the court and it dragged him for more than two years before the matter was pulled out of the court for amicably settlement.

This was a result of the parties unanimously appointing an arbitrator to the matter. The arbitrator’s judgment was accepted by the parties. In this judgment he made the tenant to see the reason why the rent arrears should be paid to the landlord.

It was equally agreed that the arrears should be paid installment to enable the tenant to cope with the payment, with this issue of arrears treated, the landlord agreed to carry out his obligations effectively. The decision on the mode of payment took time before it was resolved. The landlord who claimed that he has lost so much money within the period of arrears and court actions would prefer the total sum paid to him at once. However this request was not granted by the arbitrator instead he made the landlord to understand why he should accept the quarterly payment. project topics   final year project topics and research materials 

More so, drastic action cannot be taken to enforce payment of rent on lease hold property unlike chattels which can be taken away by the owner from the person to whom it is hired for a failure to meet the agreed obligation. Rental payment on leasehold is in respect of right of use, possession and enjoyment conferred on the tenants and act in respect of tangible thing. There is usually a complicated legal relationship between the landlord and the tenants. There actions to enforce payment and recovery of rents must follow due process of law. This takes time and may fail if a landlord fails to meet contracted obligation towards a tenant. 

Enforcement of payment of rent through eviction of tenants by landlords id often mitigated by government social policy on some kinds of landed properties. There are legislation a s regards security of failure, tenants are protected from  forcible ejection and lease for failure. Government owned and managed properties have added problem of need to get political support for its management policy and action. Political climate and influence may not permit the manager of government owned properties to take appropriate action as decision is usually centralized.

However efficiency in recovery of rents on leasehold properties depends on efficient management based on good lease term and effective control.

STATEMENT OF PROBLEM

It has been observed that in recent times rental defaults on leasehold properties are on the increase.

This development has been agitating the minds of several interested groups including property investors and their agents. This paper is set out to study that causes of default in rent payment and prefer solutions.

AIM AND OBJECTIVE

The aim of this dissertation is to examine the possible ways of recovering of rent arrears and treatment of difficult tenants.

The objectives are:

To examine the root cause of default in rent payment To examine the prevailing method of rent recovery To investigate the issue of difficult tenants To make recommendation in eliminating problems identified. METHODOLOGY OF STUDY

The study was successfully carried out by using information from relevant publications, especially the Journals, magazine and seminar papers and through the use of textbook which provides a good background for theoretical and conceptual issues discussed. The source of the data will be both primary and secondary.

SCOPE OF STUDY

The study covers the recovery rent arrears and how difficulties tenants should be treated. To do this, the method of rent recovery and dealing with difficulties tenants were looked into with specific reference to select properties in Ilesa, Osun State.  

LIMITATION OF THE STUDY

The only presumed or perceived limitation of this study is the shortest time, nevertheless everything pertaining to the recovery rent arrears and treatment of difficult tenants would be fully exercised.

.

RECOVERY OF RENT ARREARS AND TREATMENT OF DIFFICULT TENANT IN RESIDENTIAL AND COMMERCIAL



TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.ORG

Researchwap.org is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.org guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.org is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.org" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.