An Estate Surveyor and Valuer ESV Kayode Igunbode, has urged individuals and companies to engage professionals to manage their properties.
Igunbode said Property management is crucial for property owners, whether individual or corporate. He said when a professional manages the property, it helps to maximize their investment and minimize risks associated with property ownership.
He said property management is very broad and all encompassing.
“ It involves Property Maintenance and Management, Tenant Selection and Management, Rent Collection, Managing Expenses, Legal Obligations, Rent Remittance and many more”.
He disclosed that for someone to effectively manage all these to yield utmost results, he must undergo professional tutelage for him to acquire the needed skills for the assignment.
“Property Management is not just rent collection and remittance it to Landlord /Property owner”.
He emphasized that “a property owner who invested his hard-earned money in property, such property investment can be likened to a farmer who has a goose that would lay golden eggs, the goose must be taken care of , in order for the goose to continue to lay golden egg that would provide him a steady source of wealth”.
He explained that an Estate Surveyor & Valuer is a professional who manages property.
He/she has undergone trainings from school, and a professional who must have studied estate management and valuation in higher institution.
“Having graduated from higher institution, he passed through practical tutelage in an estate firm and he further wrote and passed professional examinations, which would make him a certified Estate Surveyor and he eventually became a member of Nigerian Institution of Estate Surveyors and Valuers (NIESV)”.
However, via this institution, from time to time he would undergo professional capacity trainings, and these would sharpen his teeth for professionalism delivery.
“As a member of this professional institution or body so to say, he would be cautious of his practice, because any his misnomer or malpractice may be reported to his institution. If found wanted, he may be sanctioned. Our professional practice is being guided by codes of conduct and ethics of the profession in property management and other departments of our profession”, she stated .
Conversely, if someone is just a graduate of a particular course in higher institution, who after he could not find a good job and ventured into estate business and property management in particular.
He would only be after rent collection and remittance, because he did not have the knowledge of tenant selection, managing leases, property maintenance, legal compliance, technical knowhow of property fabric, and many more, therefore such person is a quack.
In view of the above, if all these important factors are not well managed, the goose that lay the golden eggs for steady income may fall sick, and would not be able to lay eggs optimally.
“In other words, the investment in the property may not yield good returns as expected. Therefore, it is paramount to engage a professional to manage your property, unlike a quack that ventured into property business out of no job for him in labour market after graduating from a higher institution”.
