COMPARATIVE ANALYSIS OF RENTAL VALUATION IN RESIDENTIAL AND COMMERCIAL PROPERTIES IN LOKOJA, KOGI SATE
Abstract
This study is to examine the Comparative Analysis of Rental Valuation in Residential and Commercial Properties in Lokoja, Kogi Sate. To achieve the aim of this study; some objectives were selected: to examine the predominant classes of residential and commercial properties in Lokoja, Kogi State; to assess the procedures for carrying out rental valuation for both residential and commercial property by Estate Surveyors and Valuer; to identify the challenges associated by Estate Surveyors and Valuers in carrying all of rental valuation in residential and commercial properties in Lokoja Kogi State. The method used for the study was table, percentages and mean. The findings are: the Predominant Classes of Residential and Commercial Properties includes: Block of flats, Bungalows, Duplexes and Tenements. Also, the finding equally showed that the Rental Trends of Residential and Commercial Properties are Economic Rent, Virtual Rent, Scarcity Rent, Contract Rent and Profit Rent. From the findings, recommendations were made that since there are more of Predominant Classes of Residential and Commercial Properties such as: Block of flats, Bungalows, Duplexes and Tenements, adequate management and maintenance should be put in place by the property owners in order to preserve the live span of such properties for long life usage.
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