17/07/2022
The concept of Property Management.
Property Management is a service program that Estate Surveyors and Valuers institute in occupied premises when they are appointed to manage landed properties by the owners of buildings to obtain a good investment return for them. This is especially so in the case of commercial buildings which is dedicated solely for space merchandising.
Property Management services can also be extended to owners of occupied land and buildings who enjoy imputed rents on their buildings as it is a general conception that lived in places have a tendency to be neglected by their owners if proper maintenance program had not been put in place to address cases of deterioration or general damage to a property due to lack of care, bad handling and poor maintenance by their owners.
Since the main object of Property Management is to keep a building or structure and all apputernances safe and in a perfect and good state of use in anticipation of a continuous use basis, it is reasonable to note that after the construction of a building, its maintenance should begin.
In the context of the above consideration, Property Management therefore acts as a corrective and restorative measure instuted to stem or arrest all elements of depreciation in properties that would quicken the rot in buildings and make them to become derelict or prevent investors or owner occupiers from collecting rent on the property on a continuous basis to maximise profit on their investment in land or live in a well maintained home.
