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Article
Publication date: 24 February 2020

Jan Philip Weber and Gabriel Lee

The purpose of this paper is twofold: first, the authors construct a country-specific time-varying private rental regulation index for 18 developed economies starting from 1973 to…

Abstract

Purpose

The purpose of this paper is twofold: first, the authors construct a country-specific time-varying private rental regulation index for 18 developed economies starting from 1973 to 2014. Second, the authors analyze the effects of their index on the housing rental markets across 18 countries and states.

Design/methodology/approach

The authors’ index not only covers 18 developed economies over 42 years but also combines both tenure security and rent laws. The authors’ empirical framework is that of panel regressions with time and country fixed effects.

Findings

The authors’ index sheds further insights on the extent to which rent and tenure security laws have converged over the past 40 years for each economy. Moreover, the authors show three empirical results. First, stringent rent control regimes do lead to lower real rent growth rates than regimes with free rents. Second, soft rent control regimes with time-limited tenure security and minimum duration periods, however, may cause higher rent growth rates than free rent regimes. Third, rent-free regimes do not show significant high real rent appreciation rates.

Originality/value

The authors’ rental regulation index is the first time-varying index that covers more than 18 economies over 40 years.

Details

International Journal of Housing Markets and Analysis, vol. 13 no. 4
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 20 June 2016

Job Taiwo Gbadegesin, Harry van der Heijden and Peter Boelhouwer

The purpose of this paper is to investigate the nature and dimension of non-compliance (defiance) with lease agreement obligations in private rental housing market between…

Abstract

Purpose

The purpose of this paper is to investigate the nature and dimension of non-compliance (defiance) with lease agreement obligations in private rental housing market between managers (agents/private rental housing providers or landlords) and end-users (tenants – rental housing consumers), with a view to identifying challenges in rental housing lease administration in Nigeria emerging rental market.

Design/methodology/approach

The quantitative data collected from practicing estate surveyor and valuers (statutorily registered agents), who manage private rental housing in their portfolios on behalf of owners and tenants, who occupy rental housing within Lagos state (the largest property market in Nigeria and West Africa). Using a theoretical model in the context of five lease agreement obligations, data collected were analyzed using descriptive and inferential statistics (one sample t-test, independent t-test and correlation).

Findings

While economic circumstances (economic factors) are considered the major vulnerable factor that cause acts of non-compliance, defiance against “covenant not- to- sublet (subletting covenant (SC))” and “prompt rental payment covenant” are the two most non-compliance attitudes (precipitation events) observed from both actors. There is correlation among all vulnerability elements and precipitating events. While a significant relationship was only observed between “SC” and all vulnerability elements on the part of agents, there is significant relationship among all the vulnerability elements and precipitating events on the part of tenants. Also, while tenants attached higher significance to all the vulnerability factors than managers, both actors attached different level of priority to precipitating events. Lastly, equitable remedies and peaceful entry are the two most adopted intervention tools.

Research limitations/implications

This paper is limited to seeking both the professional opinion of licensed/registered agents and the rental housing consumers-tenants.

Practical implications

The research points to an increasing need for the stakeholders – Estate Surveyors and Valuers Registration Board of Nigeria (a Government parastatal) and the Nigerian Institutions of Estate Surveyors and Valuers (the constituted professional body), to establish and reform the code of practice in this direction with due consideration to the factors identified in this study. Effort also should be upgraded in the intervention techniques adopted in order to improve on emerging rental market.

Originality/value

The paper explores an important aspect of lease administration in private rental housing market. It also provides platform on which the acts of defiance can be wiped out in the emerging rental market.

Details

Property Management, vol. 34 no. 3
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 18 June 2018

Tazviona Richman Gambe

The purpose of this paper is to explore the lessee eviction process in Zimbabwe in order to suggest possible ways of improving this process that has become a rutted road…

Abstract

Purpose

The purpose of this paper is to explore the lessee eviction process in Zimbabwe in order to suggest possible ways of improving this process that has become a rutted road characterised by a litany of hiccups.

Design/methodology/approach

The study is guided by the qualitative methodology. Data were mainly collected from property managers operating in the real property market in Harare using in-depth interviews. Analysis of data was done through content analysis.

Findings

It emerged from the study that the eviction process in Zimbabwe is fraught with impediments and expenses that are sometimes exasperating to property owners and investors. The current eviction regulations favour the lessees at the expense of lessors thus niggling lessees have aggravated the already protracted process by unnecessary appeals.

Research limitations/implications

The paper only focuses on residential property management and eviction of legal lessees due to non-payment of rentals.

Practical implications

The rent regulations should be reviewed in order to create a fair legal system that protects the rights of both the lessors and lessees in Zimbabwe.

Originality/value

The perpetual decline of the economy in Zimbabwe has crippled lessees’ ability to pay rentals. Yet, it has also become intricate to evict defaulting lessees thereby causing loss of income to rental housing investors. Thus, the paper challenges the protracted eviction processes in the real property industry that have prejudiced property owners and scared away potential rental housing investors that are greatly needed to boost the rental market.

Details

Property Management, vol. 36 no. 3
Type: Research Article
ISSN: 0263-7472

Keywords

Content available
Article
Publication date: 1 March 1998

Bill Deddis

179

Abstract

Details

Journal of Property Valuation and Investment, vol. 16 no. 1
Type: Research Article
ISSN: 0960-2712

Book part
Publication date: 3 March 2022

Busari Morufu Salawu, Mujidat Olabisi Salawudeen and Maimunat Dunmade Salawudeen

This chapter appraised customary tenancy and Post COVID-19 agricultural development in Nigeria. In doing this, it discussed customary tenancy as an incident of customary tenure…

Abstract

This chapter appraised customary tenancy and Post COVID-19 agricultural development in Nigeria. In doing this, it discussed customary tenancy as an incident of customary tenure and the impact of Land Use Act 1978 in its evolutionary trend as a sustainable means of accessing land for long term agricultural business in Nigeria. The study made use of socio-legal research methodology involving doctrinal research method and an analysis of social context for information gathering. The primary source of law included the 1999 Constitution of the Federal Republic of Nigeria (as altered); the Land Use Act 1978 and related statutes as well as judicial precedents. The secondary sources included books, journal articles, conference proceedings, magazines, newspapers and the internet. The outcome of the study indicated that customary tenancy was a recognized method of accessing land for agriculture on long term basis among many ethnic groups in Nigeria, including but are not limited to Yoruba of Southwest and the Igbo of Southwest, Nigeria. That the method was predominantly used for agricultural purposes, and in agricultural communities. Third, that the Land Use Act 1978 did not stop the customary land practice, but rather recognized and encouraged its use through customary right of occupancy. Fourth, customary tenancy was found to have promoted access to land resources and reduction of tension and bitter acrimonies which could have been attendant to request for land resources in rural communities. It was recommended that efforts should be made by Governors who are trustees under the LUA to use their powers in the interest of the people and that reforms be undertaken to resolve latent contradictions in the Act. It was concluded that customary tenancy should be harnessed for sustainable Post COVID – 19 land use in Nigeria.

Details

Entrepreneurship and Post-Pandemic Future
Type: Book
ISBN: 978-1-80117-902-7

Keywords

Article
Publication date: 7 October 2022

Rickard Engstrom, Neville Hurst and Bjorn Berggren

The purpose of this study is to analyze and compare the level of professionalization of the real estate broker's occupation in Victoria, Australia, and Sweden. As previous studies…

Abstract

Purpose

The purpose of this study is to analyze and compare the level of professionalization of the real estate broker's occupation in Victoria, Australia, and Sweden. As previous studies have indicated that the real estate agent occupation in both regions is experiencing low levels of trust, an analysis of the level of professionalization is warranted.

Design/methodology/approach

The data used in the analysis in this paper have been gathered from a number of different high-quality sources. In Sweden, information has been obtained from the Swedish Real Estate Agents Inspectorate, the Association of Swedish Real Estate Agents and the Swedish Real Estate Agents Association, and Real Estate Statistics. For the Victorian case, information has been obtained from the Real Estate Institute of Victoria, which is the leading professional body in organizing real estate agents. Furthermore, information has also been sourced from the Business Licensing Authority as well as Consumer Affairs Victoria. The focus of the analysis has been on the institutional changes of the real estate profession, including the education required to become an agent, the legislation and supervision of real estate agents and the role of the professional bodies that organize the real estate agents. 10;

Findings

The analysis shows that both the real estate brokerage market in Victoria and Sweden could be characterized as mature. Using the definition of a profession from Millerson (1964), the authors conclude that the brokerage industry has a number of the characteristics of a profession such as a long albeit interdisciplinary education, strong professional bodies, code of conduct and some level of self-regulation.

Research limitations/implications

This research examines two countries, both considered mature in their house market process. Findings may be very different if the research methodology was applied to house markets that do not exhibit the same level of regulatory control.

Practical implications

Even though the real estate occupation can be considered as a semi-profession, there is still room for improvement when it comes to how consumers perceive the trustworthiness of real estate agents. Therefore, the professional bodies ought to strive to find ways on increasing the status and trustworthiness of the profession. These could include increasing the transparency as well as continuing education for its members.

Social implications

Users of real estate services need to have confidence in the skills and expertise of real estate agents they engage. The magnitude of the monies associated with real estate transactions should cause users to seek out agents who are proficient in what they do, and to this end, the professionalism of agents is critical to the provision of accurate and informative information to guide users toward positive and beneficial outcomes.

Originality/value

To the best of the authors’ knowledge, this is the first study that analyzes and compares the development of the real estate profession in Victoria and Sweden, using theories from the study of professions.

Details

Property Management, vol. 41 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 12 December 2023

Rosa M. Garcia-Teruel

The Recast Energy Efficiency Directive 2023 has defined the concept of “split incentive,” also known as “tenant-owner dilemma.” This dilemma refers to the situation where neither…

Abstract

Purpose

The Recast Energy Efficiency Directive 2023 has defined the concept of “split incentive,” also known as “tenant-owner dilemma.” This dilemma refers to the situation where neither landlords nor tenants have incentives to invest in energy efficiency upgrades. Although the Energy Efficiency Directive calls Member States to overcome legal barriers to remove split incentives and to encourage retrofits, the list of possible measures is too vague. This paper aims to discuss tenancy law measures designed to increase the energy efficiency of residential housing and to detect which Member States have already addressed this phenomenon.

Design/methodology/approach

This paper analyses, from a civil legal perspective, the possible private law barriers arising from the tenant-owner dilemma when performing energy efficiency works in selected countries and proposes legal reforms in tenancy law and related policies to overcome them. To do so, this paper follows a legal-dogmatic and comparative law methodology.

Findings

This paper concludes that some tenancy law provisions, such as the possibility to increase the rent after energy efficiency renovations and long-term leases, may challenge the tenant-owner dilemma in private rented markets, thus promoting renovations and retrofitting for energy efficiency purposes. It also proposes other policies intended to increase parties’ willingness to undertake works.

Research limitations/implications

More research on the economic and legal efficiency to regulate some of the civil law measures to challenge the tenant-owner dilemma should be necessary.

Practical implications

The civil law measures included in this paper may help national policymakers meet the energy efficiency targets, according to what is established in the Recast Energy Efficiency Directive 2023.

Originality/value

Based on the economic theory of the tenant-owner dilemma, this paper investigates the elements of tenancy law that may contribute to less energy-efficient homes, proposing policies for those countries interested in addressing the energy-efficiency challenge from a private law point of view.

Details

Journal of Property, Planning and Environmental Law, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9407

Keywords

Article
Publication date: 1 September 2000

Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management…

27433

Abstract

Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.

Details

Facilities, vol. 18 no. 9
Type: Research Article
ISSN: 0263-2772

Article
Publication date: 1 March 2001

K.G.B. Bakewell

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18;…

18706

Abstract

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.

Details

Structural Survey, vol. 19 no. 3
Type: Research Article
ISSN: 0263-080X

Article
Publication date: 1 March 2000

K.G.B. Bakewell

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17;…

23736

Abstract

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.

Details

Property Management, vol. 18 no. 3
Type: Research Article
ISSN: 0263-7472

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