ANALYSING THE IMPACT OF LANDLORD–TENANT RELATIONSHIP ON PROPERTY VALUE IN LOKOJA, KOGI STATE
Abstract
This study explores the impact of landlord-tenant dynamics on property valuation in Lokoja, Kogi State, Nigeria. With urbanization accelerating in the region, understanding the interpersonal and legal relationships between landlords and tenants becomes critical for property market performance.
The study examined three major variables: lease agreements, tenant satisfaction, and landlord-tenant disputes, using data collected from 200 respondents including landlords, tenants, property managers, and real estate agents.
Data analysis involved both descriptive statistics and inferential techniques such as correlation and regression analysis. The results show strong, statistically significant relationships between landlord-tenant dynamics and property valuation.
Lease agreements showed the highest correlation with property valuation (r = 0.92, p = 0.03), followed by landlord-tenant disputes (r = 0.90, p = 0.035) and tenant satisfaction (r = 0.88, p = 0.04).
Regression analysis confirmed that all three factors were strong predictors of property value, with R² values ranging from 0.82 to 0.85.
Key findings indicate that clear, enforceable lease agreements and high levels of tenant satisfaction contribute to better maintenance, longer tenancy, and higher property valuation. Conversely, frequent disputes reduce marketability, maintenance quality, and overall value.
The study concludes that landlord-tenant relationships are not only social dynamics but crucial economic determinants of property value. It recommends improved lease documentation, tenant engagement, and conflict resolution mechanisms to optimize real estate value in Lokoja.
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