AN APPRAISAL OF TREND IN RENTAL VALUE OF RESIDENTIAL PROPERTY WITHIN THE LAST TEN YEARS (2003-2012) (A CASE STUDY OF GRA (TPS100 ILORIN)

TABLE OF CONTENT

Title page

Certification

Dedication

Acknowledgement

Table of contents

Synopsis

CHAPTER ONE

1.0 Introduction

1.1 Statement of the problem

1.2 Aim and objectives

1.3 Significant of the study

1.4 Scope of the study

1.5 Limitations of the study

1.6 Study Area (Geographical setting and historical background)

1.7 Definition of terms

CHAPTER TWO

2.0 Literature review

2.1 conceptual framework

2.2 Concept of value

2.3 Concept of rental value

2.4 Nature of value

2.5 Concepts of rent

2.6 Factors affecting rental values of residential property

2.7 Concept of property

                  CHAPTER THREE

3.0 Research methodology

3.1 Target population

3.2 Method of data collection

3.3 Sampling frame, sample size and sample tech techniques

3.4 Research instrument

3.5 Data analysis

CHAPTER FOUR

4.0 Data presentation and analysis

4.1 Data collection, data analysis and data presentation

4.1.1Questionniare administered and retrieved

4.2 The analysis of residential property types

4.3 Trend of residential properties rental values

4.3 Causes of increase in rental values of residential property.

  CHAPTER FIVE

5.0 Summary, recommendations and conclusion

5.1Summary

5.2Recommendations

5.3conclusion                                 

SYNOPSIS

Housing problems in urban centers have often been viewed in terms of qualitative and quantitative inadequacy with or without attention to the problem of increasing rent.

The rent which land and landed properties may generate can be affected by some trends/factors, the aim of this study is to access and probe into the circumstances responsible for the constant changes in rental values of residential properties in the study area which are as follows; the location factors, population, characteristics of neighbourhood, architectural design, income of the people, facilities provided among others. Also, the realism of future technological advancement influences the rental value of property.

The periodic trend in rental value is considered by some landlord/owners as easy access to boost their ego. It is necessary to correct this in an area where development and commercial activities are very rampant and also in an improved speed particularly in GRA of Ilorin.

To determine the trends in rental values of properties considering its location or position in Ilorin metropolis, its level of commercial activities and the population of the people therein. It is important and paramount to estimate and arrive at the most suitable and optimum value for properties in other to forestall the level of its commercial activities and also to encourage continuous developments.

 The increment in rental values have been a major setback to some people both individual, organization, government, society etc. which have in one way or the other affected their income generation. The problems have therefore led to changes in property value which remained one of the most persistent and socio-economic problems facing properties in the society at large.

The variation and the rise in the rents of real estate had led to this research work, with the aim of examining the causes, effects and the likely solutions to the problems.