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Article
Publication date: 9 August 2024

Adedayo Ayodeji Odebode, Oyeronke Toyin Ogunbayo and Abiola Benjamin Obayomi

Technological disruption has transformed the traditional ways of doing business in the real estate sectors. As a result of the new business realities, technology has become an…

Abstract

Purpose

Technological disruption has transformed the traditional ways of doing business in the real estate sectors. As a result of the new business realities, technology has become an integral part of the real estate business. However, due to the significant barrier to the incorporation of the technology among modern real estate start-ups, there is a need to assess the adoption and willingness to use property management software.

Design/methodology/approach

The study employed an exploratory research design. The study adopts a total enumeration of real estate start-up firms in Lagos, Nigeria, to ensure true representations among the respondents and reduce sampling errors. The data obtained were analyzed using descriptive and inferential statistics.

Findings

The study revealed that the majority of the respondents are aware of the identified property management software but tenant verification software recorded the highest level of awareness and usage. The finding also revealed that the association between the availability of staff competence, practicality of the software, ease of use, data ownership and copyright, financial resources, future-proof technology track, Internet connection, perceived benefits and productivity and branding are statistically significant in influencing the level of adoption among the respondents.

Research limitations/implications

The researchers had initial challenges with the attitude of respondents to willingness and timely disbursement of information which was later resolved by explaining the significance for the study. The findings of the research will be useful and serve as an eye opener to practitioners, the conventional real estate surveying and valuation firms, to relevance of software technology in enhancing their operations and efficiency, while it can also boost the academic curriculum.

Practical implications

The knowledge about the adoption of property management software will equip real estate tech start-ups with the right information.

Originality/value

The paper is significant because the ultimate goal of this study is to document the empirical investigation on the level of adoption and application of emerging software among real estate tech start-ups in the Nigerian property market to facilitate the efficiency and delivery of property management services.

Article
Publication date: 10 January 2022

Adedayo Ayodeji Odebode, Timothy Tunde Oladokun, Oyeronke Toyin Ogunbayo and Joseph Bamidele Oyedele

The upward rise of the prolonged payback period and the inability of the project to generate estimated income that has been linked with the irregular rent payments has been a…

Abstract

Purpose

The upward rise of the prolonged payback period and the inability of the project to generate estimated income that has been linked with the irregular rent payments has been a major problem confronting real estate investment. Given the fact that real estate investment is a risky investment venture with a highly uncertain future stream of income, this paper examines the effectiveness of rent recovery strategies in the emerging Nigeria residential real estate practice.

Design/methodology/approach

The study employed an exploratory research design. The study identified the five recovery strategies adopted by the estate surveying and valuation firms in Ibadan Metropolis, Nigeria. The study adopts a purposive sampling method to select 52 registered estate firms in the study area and a questionnaire using a five-point Likert scale was used to elicit information. The data obtained were analyzed using descriptive and inferential statistics.

Findings

The result showed that the rent recovery strategies adopted by the respondents include email approach, rent reminder notice, adequate maintenance, eviction notice and dialogue approach. The perceived top-rated strategies that could influence estimated income were dialogue and rent reminder notice. Also, the findings showed the factors that influence the choice of strategy are property type, company policy and the proportion of rent to the tenant's income.

Practical implications

The study has an implication for real estate investors and property practitioners regarding the willingness of the investors to invest in real estate investment.

Originality/value

This paper is relevant given the fact that the rental property market is prone to risk that could impede the regular streamflow of income. This serves as a need for examination of the effectiveness of adopted rent recovery strategies as it relates to real estate property management practice and investment viability.

Article
Publication date: 27 September 2019

Adedayo Ayodeji Odebode

The purpose of this paper is to examine the impact of integrated rural development scheme on livelihood and rural housing condition in selected rural areas in Osun state. This is…

Abstract

Purpose

The purpose of this paper is to examine the impact of integrated rural development scheme on livelihood and rural housing condition in selected rural areas in Osun state. This is prompted by the need to develop effective strategy for improving the rural housing condition in Nigeria.

Design/methodology/approach

The impacts of the scheme were measured through survey of 344 participants obtained from 28 active communities out of the 36 communities’ coverage by Rural Development Programme of Justice Development and Peace Makers’s Centre through a multi-stage sampling. Both qualitative and quantitative data were obtained from the respondents. The data were analyzed through descriptive statistics, frequency distribution, correlation and regression analysis.

Findings

The result revealed that the mode of operation of the integrated scheme is to educate farmers on best farming practices. The integrated scheme had contributed positively to the livelihood of the respondents by providing stable source of finance than any other available finance source options, and it increased assets and skill acquisition and ability to have more combination of livelihood options as a result of the intervention. In addition, the number of respondents without personal accommodation also decreased at a significant proportion after the intervention. Also, notable numbers of respondents have increased access to domestic housing facilities such as, well, pit toilet and electricity. The result of the correlation analysis showed further that respondents with more livelihood assets and larger household size most often have a better housing condition, whereas the regression analysis revealed that change in the household size and change in livelihood assets lead to change in the housing condition. The paper suggest that integrated scheme could be used as a self-financing strategy for both qualitative and quantitative improvement of rural housing in Nigeria if the scheme enjoys the requisite government support in terms of adequacy of finance and more government agency participation for wider coverage.

Originality/value

The paper is one of the pioneering studies in Nigeria.

Details

World Journal of Science, Technology and Sustainable Development, vol. 17 no. 2
Type: Research Article
ISSN: 2042-5945

Keywords

Article
Publication date: 23 August 2022

Adedayo Ayodeji Odebode, Shittu Oluwakayode Aro and Alirat Olayinka Agboola

The paper aims to examine the influence of urban violence on residential property rental value in Kaduna metropolis. This is motivated by the spate of insurgency and the attendant…

Abstract

Purpose

The paper aims to examine the influence of urban violence on residential property rental value in Kaduna metropolis. This is motivated by the spate of insurgency and the attendant destructions of land and properties in the past few years in the study area.

Design/methodology/approach

This paper adopted a survey of key sites of urban violence and also a total enumeration of all the 67-estate surveying and valuation firms in the study area to elicit from them vital information on trends on rental from 2011 to 2019. The data obtained were analyzed using both descriptive and inferential methods of statistical analysis.

Findings

The result of this study revealed that among other sources of urban violence, violence fueled by ethnic affiliations/convictions is the only significant factor that influenced rental value of residential property in the study area. The regression analysis shows that ethnic violence accounted for 21.6% of the variability observed in residential property rental value over the period of study. Furthermore, the correlation result showed that ethnic violence is negatively correlated (−0.458) and significantly related to residential property rental value.

Practical implications

This study concluded that the emergence of urban violence in Kaduna metropolis contributed to a fall in the rental value of residential property in the study area. This study thus suggested policy directions that could engender harmonious coexistence among different ethnic groups in the study area.

Originality/value

This study is expected to enhance improvement in residential property rental value in Kaduna metropolis through increase assurance to security of lives and property.

Details

International Journal of Housing Markets and Analysis, vol. 16 no. 6
Type: Research Article
ISSN: 1753-8270

Keywords

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