EVALUATING THE PROBLEM OF RENT COLLECTION AS AN ASPECT OF RESIDENTIAL PROPERTY COLLECTION

EVALUATING THE PROBLEM OF RENT COLLECTION AS AN ASPECT OF RESIDENTIAL PROPERTY COLLECTION

ABSTRACT

Rent is a periodic payment made to an owner of a property for the use of such property. This payment is on the increase n modern times due to several factors which includes increase in the price of goods, inflation and greed on the part of landlords. Similarly, the collection of rent is limited by a lot of problems which often results to rifts between landlords and tenants. However, these problems of rent collection can be solved successfully, thereby promoting a cordial landlord –tenant relationship. This study therefore seeks to achieve this by identifying the problems of rent collection in residential properties in Enugu, and make recommendations on how to solve these problems.

The government overtime have put up measures to help ensure that the process of rent collection is less cumbersome. These measures have come in form of rent control edicts and recovery of premises edicts, as well as the setting up of rent tribunals. These laws have been adopted by various states of the federation, and modified to address the problems of rent collection peculiar to their state. States such as Cross-River, Kwara, Anambra and Lagos State have done this. These laws will be reviewed in this study, in order to arrive at a better understanding of how these laws canbe used to address the problems of rent collection in residential properties in Enugu metropolis.

Three neighbourhoods have been selected for this study. They include: new Haven, Obiagu and Achara Layout all in Enugu metropolis.

CHAPTER ONE

1.0                                   INTRODUCTION

1.1    BACKGROUND OF THE STUDY   

Housing is one of the most basic needs of man second to food and followed by clothing. As man continues to undergone changes from one stage to another, the need for decent housing keeps arising. Increasing human population and advancing technology have increased the need for housing. This need overtime have been addressed through the provision of residential property by developers who in turn collect rent from the tenants. Increasing demand for housing which keeps rising above the available supply has given rise to hike  in rental price of housing, especially residential housing.

EVALUATING THE PROBLEM OF RENT COLLECTION AS AN ASPECT OF RESIDENTIAL PROPERTY COLLECTION