COMMERCIAL AND RESIDENTIAL PROPERTIE

The study titled “Comparative Analysis of the Challenges in Managing Commercial and Residential Properties in Benin City” examined the complex issues confronting estate surveyors, valuers, and property managers in ensuring effective and sustainable property management practices within Nigeria’s evolving real estate landscape. The research aimed to provide a detailed comparative evaluation of the management constraints peculiar to both commercial and residential property sectors in Benin City, with emphasis on identifying the underlying causes, management implications, and potential strategies for improvement. Property management has increasingly become a critical component of real estate practice, particularly in urban centers such as Benin City, where population growth, urbanization, and socio-economic changes have heightened the demand for efficient property utilization. Despite the professional efforts of estate surveyors and valuers, persistent management challenges ranging from financial constraints, tenant default, poor maintenance culture, legal bottlenecks, and environmental degradation continue to undermine performance outcomes. This study therefore explores the similarities and differences between the management of commercial and residential properties, analyzing how economic, technical, administrative, and behavioral factors influence property performance and value retention. Methodologically, the research adopted a comparative and descriptive design, supported by both primary and secondary data. Questionnaires were administered to registered estate firms, landlords, and tenants within 4 key locations in Benin City, and are Ugbowo, New Benin, Siluko Road, and Mission Road. Data were analyzed using descriptive and inferential statistical tools to identify patterns and relationships between property types and management challenges. Findings revealed that while residential properties are predominantly affected by tenant-related issues such as rent default, overcrowding, and maintenance neglect, commercial properties face institutional and infrastructural constraints, including high operating costs, power supply irregularities, and legal enforcement challenges. The comparative analysis further demonstrates that professional property management by certified estate surveyors significantly enhances tenant satisfaction, rent stability, and property value appreciation in both sectors. The study concludes that effective property management in Benin City requires a multi- dimensional approach that integrates financial planning, preventive maintenance, digital record management, and stronger legal enforcement mechanisms. It recommends the adoption of technology-driven management systems, continuous professional training for estate managers, and the implementation of policy reforms that support transparent and sustainable property management practices. By highlighting the divergent yet interrelated challenges facing commercial and residential properties, the research contributes to the growing body of knowledge in Nigerian real estate management and provides a framework for improving management efficiency, client satisfaction, and property value preservation in Benin City and similar urban contexts.