PJMSSH-Abstract

 

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.

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