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1 – 10 of over 5000Oliver Tannor, Elvis Attakora-Amaniampong and Emmanuel Kanchebe Derbile
This study aims to assess the facilities management (FM) strategies used in multi-tenanted purpose-built office buildings (Mt-POBs) in Ghana and the drivers that influence the…
Abstract
Purpose
This study aims to assess the facilities management (FM) strategies used in multi-tenanted purpose-built office buildings (Mt-POBs) in Ghana and the drivers that influence the decision to use such strategies.
Design/methodology/approach
This study was conducted via a survey and key informant interviews. The survey was conducted using a questionnaire targeted at 65 multi-tenanted office building owners in the Greater Accra region. The data from the survey revealed the views of building owners on FM strategy and the extent to which 20 facility management decision drivers influenced their decisions to use a particular strategy and the responses were descriptively analysed. The key informant interviews were conducted among six leaders of the property owners’ association who use in-house FM to further understand their perspectives and decisions on using such strategy. The interviews were conducted over telephone using an interview guide and analysed using thematic analysis.
Findings
The results showed that 88% of Mt-POBs in Ghana are managed in-house. The results also showed that the decision to use the in-house strategy was driven by the innovative, strategic and cost-saving advantages associated with the in-house strategy.
Originality/value
This study shows the factors that drive the decision of multi-tenanted office building owners in Ghana to use the in-house strategy. The findings of this study will be useful for prospective owners of office buildings in Ghana.
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A. Craig Roussac and Susan Bright
The purpose of this paper is to illustrate, by reference to practical examples, how leases of commercial buildings can be more responsive to environmental issues.
Abstract
Purpose
The purpose of this paper is to illustrate, by reference to practical examples, how leases of commercial buildings can be more responsive to environmental issues.
Design/methodology/approach
The paper explains how difficult it is within the structure and content of conventional leases to reduce the environmental impact of the tenanted commercial built environment. It explores the interplay between the content and structure of commercial leases and the behaviour of building owners, managers, tenants and occupants, illustrated through the experiences of a large Australian‐based commercial office building owner/operator.
Findings
With reference to practical examples it shows how conventional leases stifle innovation and illustrates the difficulties in drafting leases that enable a responsive approach to building management to be adopted. It shows how more fundamental changes that align and reward owners and tenants for working together for mutual benefit are required.
Practical implications
The paper presents a number of “model clauses” for encouraging best environmental practices and concludes with a suite of recommendations.
Originality/value
Although there have been conversations about green leases in recent years, there is little detailed evidence of their use in the marketplace. This paper remedies that deficiency by taking a case study approach that: illustrates the opportunities and difficulties in negotiating green leases; and shows how attempts to provide innovative building management can be hindered or supported by lease terms.
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Mark Hinnells, Susan Bright, Angela Langley, Lloyd Woodford, Pernille Schiellerup and Tatiana Bosteels
This paper seeks to consider how policy changes may drive a change in leasing practices, in order to reduce environmental impact (particularly carbon dioxide emissions) from the…
Abstract
Purpose
This paper seeks to consider how policy changes may drive a change in leasing practices, in order to reduce environmental impact (particularly carbon dioxide emissions) from the commercial building stock.
Design/methodology/approach
In many countries, including the UK, environmental policy (particularly on carbon dioxide emissions from energy use) is beginning to impact on the commercial property market. This paper explores barriers to improved performance, two models for greening leases (a light green and dark green approach) based on work by the authors from Cardiff University and the Australian government, as well as how tenanted buildings can be managed “more greenly”. It then explores how green leases may penetrate the market.
Findings
The conventional relationship between the landlord (as building owner) and tenant (as occupier) largely neglects environmental considerations. However, change may be rapid, disruptive and challenging.
Originality/value
The paper lays out some of the issues, solutions, and pathways for the commercial property industry.
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Adopts the label “tenanted non‐residential property” (TNRP) rather than employ loaded terms such as “commercial” or “investment”. Deals with the perceived objectives for which…
Abstract
Adopts the label “tenanted non‐residential property” (TNRP) rather than employ loaded terms such as “commercial” or “investment”. Deals with the perceived objectives for which local authorities hold TNRP and the functional, financial and legal setting. Compares category bases for property holdings and, in particular, examines attitudes to acquisition, management, retention and disposal of TNRP. Notes the confusion between investment and indirect service objectives and the consequential expected returns. Discusses the findings of a survey of councils centring on the characteristics and management of their TNRP holdings. Concludes that objectives and management strategy for local authority‐owned TNRP remain undeveloped. Suggests that the ability to properly manage and develop a real investment portfolio may be ultra vires. Recommends, in the shorter term, if not ultra vires, dividing TNRP between those held primarily for indirect service and those held primarily as financial investments. Expects, however, in the longer term, pressures from local service needs and central government will encourage, indeed force, the progressive disposal of all non‐operational property, including TNRP. Identifies a new form of TNRP, one within the council. Seeks to clarify and effect the different strategies for operational property between the centralized corporate council landlord and decentralized service tenants, and proposes the creation of “internal leases”.
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Outlines the essential characteristics of assured tenancies.Considers the valuation of properties which are let by BusinessExpansion Scheme companies and registered housing…
Abstract
Outlines the essential characteristics of assured tenancies. Considers the valuation of properties which are let by Business Expansion Scheme companies and registered housing associations. Concludes that when valuing property subject to assured tenancies it is important to establish the vacant possession values, the passing rent and how this is related to market rents.
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In some circumstances, property valuers (appraisers) must compare net and gross rents. Suggests a number of ways in which this can be done and describes the difficulties of…
Abstract
In some circumstances, property valuers (appraisers) must compare net and gross rents. Suggests a number of ways in which this can be done and describes the difficulties of adjusting rents to reflect the liability for property operating costs. Outlines several reasons why the equivalent gross rent is often not the sum of the net rent and the operating costs (the principal reason being the unwillingness of either the landlord or the tenant to bear the uncertainty of these costs). There may also be difficulties in estimating expected operating costs over the period of the lease. Contends that the evidence of recent lettings will rarely enable the valuer to isolate the effect of the basis of leasing on the rents. The views of landlords and tenants on switching from gross to net rents are often unclear. Outlines a single‐period theoretical model of the expected adjustment between gross and net rents (based on compensation for bearing the risks of the running costs). However, there are grave dangers in the valuer adopting such a model which may not reflect market practice. It is no more reliable than resorting to an arbitrary rule of thumb. As well as rental valuations, counselling and advice on lease negotiations may require that the difference between gross and net tenancies is considered. With international comparisons of rental levels becoming more important to footloose businesses, there is a growing need for methods of adjusting rents to reflect the lease conditions that prevail in different countries. Appendices illustrate a theoretical model of rental adjustment and show adjustment methods in practice.
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Daramola Thompson Olapade, Biodun Olapade and Bioye Tajudeen Aluko
This paper aims to explore the use of alternative dispute resolution (ADR) techniques as a legitimate means of ejection of recalcitrant tenant in property. This is with a view of…
Abstract
Purpose
This paper aims to explore the use of alternative dispute resolution (ADR) techniques as a legitimate means of ejection of recalcitrant tenant in property. This is with a view of providing information that will improve property investment and management.
Design/methodology/approach
The paper adopts a case study approach using five selected case studies where ADR approach was used to recover premises.
Findings
The experience from the case studies shows that the use of ADR in premises recovery is effective but has its challenges. In the five case studies, consent judgment, mediation and negotiation were used to recover premises in less than three months compared to an average of 18 months using litigation. Also, the cost in all the cases were lower where they exist at all than when litigation are used. The paper provides useful information to practitioners on the use of the effective alternative approach to recover premises from recalcitrant tenants.
Originality/value
The paper provides practical ways through which recovery of premises could be achieved through non-adversarial technique in developing property markets, which hitherto was not available in literature.
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Professor Tim Dixon and Professor Susan Bright and Dr Peter Mallaburn
Kak K. Lo, Eddie C. M. Hui and Kai-xuan Vicky Zhang
This paper aims to investigate the benefits derived from sustainable office buildings in People’s Republic of China (PRC) through their green features, with particular reference…
Abstract
Purpose
This paper aims to investigate the benefits derived from sustainable office buildings in People’s Republic of China (PRC) through their green features, with particular reference to energy efficiency.
Design/methodology/approach
A survey on operating costs, energy impacts, productivities from property managers and tenants of sustainable office buildings was conducted in Shenzhen, PRC. All survey data were collected from a portfolio of 12 sustainable office buildings and from 76 responses out of more than 400 tenants who had moved into these buildings from conventional office buildings.
Findings
Most tenants were concerned with sustainable operations, practices and policies. Some of them held that sustainable office buildings contribute to higher productivity and less sick time. These buildings typically consume less electricity and water, and have higher occupancy rates and rents.
Research limitations/implications
There are only 40 sustainable office buildings in Shenzhen, and our study, albeit with proper methodology, with 12 sample buildings may not reflect entirely the attitudes of tenants and property managers of sustainable office buildings in Shenzhen. Advisably, future works can be carried out on a larger scale in other main cities of PRC to obtain a more comprehensive and precise evaluation on which strategic sustainable central/local government policies might be formulated.
Originality/value
The concept of facilities management on sustainable buildings, especially on their derived benefits, is relatively new in developing countries such as China. This study is one of the first attempts in this area. In addition, this paper also contributes to existing literature by looking into the green lease provisions and operating policies of these sustainable buildings.
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The residential private rented sector (PRS) represents a major investment opportunity for individuals, corporates and institutions following the sector’s deregulation in 1988. Yet…
Abstract
The residential private rented sector (PRS) represents a major investment opportunity for individuals, corporates and institutions following the sector’s deregulation in 1988. Yet the sector retains historic perception problems by institutions. The development or expansion of a portfolio introduces a further range of costs and difficulties above those typically associated with acquisition in the commercial sector. Various mandatory and voluntary codes operate, acting as further regulatory factors. Difficulties with performance measurement, particularly indices, are highlighted and the applicability of financial market models is questioned.
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