Examination of Tenants Perceptions of Finishes and Facilities in Residential Properties of Public Housing Estates in Abeokuta Metropolis
SODIYA, Abiodun Kazeem, OYEDEJI, Oyewale Joseph and BELLO, Ismail Kolawole
Full Length Research Paper I Published April,2016
Pearl Journal of Management, Social Science and Humanities Vol. 2 (2), pp. 25-32.
ABSTRACT
Tenants are the focus of activities in the housing market
and efforts are channeled towards the satisfaction of their
needs and wants. This study examines tenant’s priorities in
building finishes and facilities when selecting rental
accommodations in Abeokuta metropolis for better information
and guide to investors. The objectives of the study include
among others, identification of various finishes and
facilities in the in estates, evaluate the contributions of
these finishes/facilities to the property values. The study
populations were practicing Estate Surveyors and Valuers and
tenants in five public estates in the metropolis. 189
questionnaires were administered to both study groups and 16
variables consisting of various finishes and facilities were
considered in the analysis. The tenants’ responses were
ranked using Relative Importance Index (RII) and rental
information provided by estate practitioners based on
facilities/finishes available in different apartment
categories in the estates were analysed using T-test
statistic to identify whether significant difference exist
or not between rents for apartments with and without most
desired variable components at 5% level of significance. It
revealed that six most desired variables in residential
apartments were: window burglary proof, electricity, more
than one toilet, metal external doors, fence and gate, and
tiles in the wet areas respectively. It was further revealed
that there exist a significant difference between the rent
passing on apartments with desired finishes/facilities and
those without. The implication is that tenants are willing
to pay more rent for the inclusion of the desired components
in the metropolis. The study concluded that proper
guidelines on the requirements for suitability and
acceptability of finishes and facilities in residential
housing should be provided for the investors before
investing in residential accommodation for rental purpose.
Key words: Tenants, Finishes, Facilities, Property
value, Rent, Abeokuta and Nigeria.
- Journal of Agricultural Science and Food Technology (JASFT)
- Journal of Medical and Biological Science Research (JMBSR)
- Journal of Scientific Research and Essays (JSRE)
- Research Journal of Educational Studies and Review (RJESR)
- Journal of Physical Science and Environmental Studies (JPSES)
- Research Journal of Engineering and Technology (RJET)
- Pearl Journal of Management, Social Science and Humanities (PJMSSH)