Tenants' Assessment of the Estate Surveying and Valuation Firms' Services in Akure Residential Property Market

Abstract

This study assessed the residential property tenants’ opinions on Estate Surveying and Valuation firms’ services in the Akure residential property market. The data for this study was gathered through copies of the questionnaire administered to the residential property tenants in the portfolio of the Estate Surveying and Valuation firms in the Akure residential property. Three hundred and thirty-eight (338) copies of the questionnaire were administered to the residential property tenants, and two hundred and eighty-five (285) were retrieved, representing 84.31%. The retrieved copies of the questionnaire were analysed using a frequency distribution table, weighted mean score, and factor analysis. The weighted mean score results revealed that twelve services provided by the Estate Surveying and Valuation firms in the study area were ranked fairly effective and less effective, seven were effective, and two were very effective. The factor analysis result revealed that services such as dutifulness, availability, motivation, and accountability, having a total variance of 64.29%, best measured the effectiveness of registered Estate Surveying and Valuation firms in providing effective management services to the residential property tenants in the study area. The study recommended that Estate Surveying and Valuation firms should intensify efforts in the area of regular maintenance, fostering of relationships among groups, accessibility, prompt issuance of rent review and reminder notices, and others to increase tenants’ satisfaction, as this will reduce tenants’ recalcitrance to ensure the investment objectives of an investor are achieved.