S. Agbato, Tajudeen Bioye Aluko, T. Oladokun, A. Adegoke
PurposeBeyond the economic determinants, non-economic criteria of land affordability are also of great importance. From the context of emerging economies, this study investigated the affordability of low-cost land allocation through the lens of non-economic criteria.Design/methodology/approachGiven that the non-economic criteria considered are those related to religion and politics, data were elicited from the owners of residential plots at Redemption City and Ikosi Residential Scheme respectively in Nigeria. The data collected were analysed using statistical methods of analysis: mean and standard deviation.FindingsThe result showed that safety and comfort, quality management, proximity to market, proximity to public transportation and proximity to health facilities were the significant non-economic criteria at Redemption City. On the other hand, the non-economic criteria found to be significant at Ikosi Residential Scheme were proximity to public transport, safety and comfort, low presence of environmental problems and income ratio.Practical implicationsThis study informs the promotion of private and public partnerships towards reducing the housing deficit in emerging economies. Also, it would help in the formulation and review of land policies, which would benefit not only their members.Originality/valueThis study is among the few that have looked at the non-economic criteria of land affordability, especially in emerging economies.
{"title":"Affordability of low-cost land allocation: a perspective of non-economic criteria","authors":"S. Agbato, Tajudeen Bioye Aluko, T. Oladokun, A. Adegoke","doi":"10.1108/pm-03-2022-0017","DOIUrl":"https://doi.org/10.1108/pm-03-2022-0017","url":null,"abstract":"PurposeBeyond the economic determinants, non-economic criteria of land affordability are also of great importance. From the context of emerging economies, this study investigated the affordability of low-cost land allocation through the lens of non-economic criteria.Design/methodology/approachGiven that the non-economic criteria considered are those related to religion and politics, data were elicited from the owners of residential plots at Redemption City and Ikosi Residential Scheme respectively in Nigeria. The data collected were analysed using statistical methods of analysis: mean and standard deviation.FindingsThe result showed that safety and comfort, quality management, proximity to market, proximity to public transportation and proximity to health facilities were the significant non-economic criteria at Redemption City. On the other hand, the non-economic criteria found to be significant at Ikosi Residential Scheme were proximity to public transport, safety and comfort, low presence of environmental problems and income ratio.Practical implicationsThis study informs the promotion of private and public partnerships towards reducing the housing deficit in emerging economies. Also, it would help in the formulation and review of land policies, which would benefit not only their members.Originality/valueThis study is among the few that have looked at the non-economic criteria of land affordability, especially in emerging economies.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48183831","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposeThe paper offers clarity to the market orientation (MO) and performance relationship in real estate by examining the limited relevant literature, presenting international results and discussing the implications for market orientation researchers and real estate practitioners.Design/methodology/approachBased on a survey of 1,251 individual renters in the USA, the United Kingdom (UK) and Canada, this study examines the relationship between residential property managers’ MO and performance. It extends MO research in real estate by focusing on property management as opposed to property development.FindingsThe results show that MO and performance are correlated in all three countries. Commitments to understanding and serving customers and differentiating from competitors are shown to enhance performance measures including residential tenants’ loyalty toward the property manager, trust in the property manager, pride in rental accommodation and commitment to paying rent on time.Originality/valueThis study is one of the largest MO studies in real estate in terms of sample size and offers a unique international perspective. The research is novel as MO is evaluated by tenants as opposed to self-assessed by firms. The paper offers a new measure of property manager performance and provides strategic directives for real estate professionals seeking to enhance competitiveness.
{"title":"An international examination of market orientation and performance in residential property management","authors":"G. Wilson, Gabriel Millard, Cameron Hills","doi":"10.1108/pm-10-2022-0082","DOIUrl":"https://doi.org/10.1108/pm-10-2022-0082","url":null,"abstract":"PurposeThe paper offers clarity to the market orientation (MO) and performance relationship in real estate by examining the limited relevant literature, presenting international results and discussing the implications for market orientation researchers and real estate practitioners.Design/methodology/approachBased on a survey of 1,251 individual renters in the USA, the United Kingdom (UK) and Canada, this study examines the relationship between residential property managers’ MO and performance. It extends MO research in real estate by focusing on property management as opposed to property development.FindingsThe results show that MO and performance are correlated in all three countries. Commitments to understanding and serving customers and differentiating from competitors are shown to enhance performance measures including residential tenants’ loyalty toward the property manager, trust in the property manager, pride in rental accommodation and commitment to paying rent on time.Originality/valueThis study is one of the largest MO studies in real estate in terms of sample size and offers a unique international perspective. The research is novel as MO is evaluated by tenants as opposed to self-assessed by firms. The paper offers a new measure of property manager performance and provides strategic directives for real estate professionals seeking to enhance competitiveness.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44620083","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Adam Fahey, Hassan F. Gholipour, Sharon Yam, Muhammad Najib Razali
PurposeThis study investigates the relationship between aged care accommodation pricing options (refundable accommodation deposits (RADs), daily accommodation payment (DAPs) and concessional) and the profitability of aged care facilities.Design/methodology/approachData are obtained from 33 aged care facilities across New South Wales in Australia. This study uses multivariate regression for analyses.FindingsThe estimation results suggest that higher level of RADs has a negative and significant relationship with profitability of aged care facilities. The authors also find that concessional pricing option is positively associated with higher profitability.Originality/valueThese findings may benefit aged care operators by reviewing their strategies and portfolios to enhance their financial performance. The results are also useful to the Australian Government to further explore how the removal of RADs may transform the aged care sector's profitability.
{"title":"Aged care accommodation pricing options and the profitability of aged care facilities","authors":"Adam Fahey, Hassan F. Gholipour, Sharon Yam, Muhammad Najib Razali","doi":"10.1108/pm-10-2022-0080","DOIUrl":"https://doi.org/10.1108/pm-10-2022-0080","url":null,"abstract":"PurposeThis study investigates the relationship between aged care accommodation pricing options (refundable accommodation deposits (RADs), daily accommodation payment (DAPs) and concessional) and the profitability of aged care facilities.Design/methodology/approachData are obtained from 33 aged care facilities across New South Wales in Australia. This study uses multivariate regression for analyses.FindingsThe estimation results suggest that higher level of RADs has a negative and significant relationship with profitability of aged care facilities. The authors also find that concessional pricing option is positively associated with higher profitability.Originality/valueThese findings may benefit aged care operators by reviewing their strategies and portfolios to enhance their financial performance. The results are also useful to the Australian Government to further explore how the removal of RADs may transform the aged care sector's profitability.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42984192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposeWhile the declining rate of urban security and its potential effects have been globally acknowledged, the ways urban neighborhood security shapes real estate markets in African cities remain largely unexplained. The purpose of this paper therefore is to present the findings from a study of the nexus between urban neighborhood security and home rental prices in Lagos, Nigeria.Design/methodology/approachThis paper is based on the hedonic price theory, an objectively derived urban neighborhood security index (UNSI) and property rental price data in Ojo, Lagos, Nigeria. This is a quantitative cross-sectional study that employs multistage sampling survey procedure. Data are analyzed using descriptive statistics, nonparametric correlation and hedonic price function with ordinary least squares (OLS).FindingsResults show that nearly 50% of the study area is prone to insecurity and average rental values in Ojo, Lagos range from N151329.41 ($302.66) to N167333.33 ($334.67) per annum. Correlation analysis shows that home rental prices have high, positive and significant correlations (rs = 0.725 and p < 0) with UNSI. After controlling for neighborhood and structural factors, it is found that urban neighborhood security positively influences home rental values as a unit improvement in security leads to N81000.00 ($162.00) increase in rental value per annum.Practical implicationsUrban neighborhood security risk threatens residential property values, creates unintended residential mobility and destabilizes families. Findings from this study point to the facts that security is a key component of urban housing values and developers, and real estate investors must ensure that this component is well factored into property design, construction and valuation.Originality/valueThis is perhaps the first study that uses an objectively derived UNSI to study home rental price dynamics in Nigeria. The study extends knowledge on urban housing price determinants and contributes to literature on the crucial place of security in property management.
虽然城市安全的下降率及其潜在影响已得到全球承认，但城市社区安全影响非洲城市房地产市场的方式在很大程度上仍未得到解释。因此，本文的目的是提出从拉各斯的城市邻里安全与房屋租赁价格之间的关系的研究结果，尼日利亚。设计/方法/方法本文基于享乐价格理论，客观导出的城市邻里安全指数(UNSI)和尼日利亚拉各斯Ojo的物业租赁价格数据。这是一项采用多阶段抽样调查程序的定量横断面研究。数据分析采用描述性统计、非参数相关和普通最小二乘(OLS)的享乐价格函数。结果显示，近50%的研究区域容易出现不安全状况，拉各斯Ojo的平均租金从每年151329.41奈拉(302.66美元)到167333.33奈拉(334.67美元)不等。相关分析表明，房屋租赁价格与UNSI呈高度正显著相关(rs = 0.725, p < 0)。在控制邻里和结构因素后，我们发现城市邻里安全对房屋租金价值有积极影响，因为安全感的单位改善导致租金价值每年增加81000.00奈拉(162.00美元)。城市社区安全风险威胁住宅物业价值，造成意外的住宅流动性和家庭不稳定。这项研究的结果表明，安全是城市住房价值和开发商的一个关键组成部分，房地产投资者必须确保在房地产设计、建设和估值中充分考虑到这一组成部分。原创性/价值这可能是第一个使用客观衍生的UNSI来研究尼日利亚房屋租赁价格动态的研究。该研究扩展了对城市房价决定因素的认识，并为有关安全在物业管理中的关键地位的文献做出了贡献。
{"title":"Urban property markets and security risk: explaining how neighborhood security shapes housing rental prices in Ojo Lagos, Nigeria","authors":"I. R. Aliu","doi":"10.1108/pm-09-2022-0070","DOIUrl":"https://doi.org/10.1108/pm-09-2022-0070","url":null,"abstract":"PurposeWhile the declining rate of urban security and its potential effects have been globally acknowledged, the ways urban neighborhood security shapes real estate markets in African cities remain largely unexplained. The purpose of this paper therefore is to present the findings from a study of the nexus between urban neighborhood security and home rental prices in Lagos, Nigeria.Design/methodology/approachThis paper is based on the hedonic price theory, an objectively derived urban neighborhood security index (UNSI) and property rental price data in Ojo, Lagos, Nigeria. This is a quantitative cross-sectional study that employs multistage sampling survey procedure. Data are analyzed using descriptive statistics, nonparametric correlation and hedonic price function with ordinary least squares (OLS).FindingsResults show that nearly 50% of the study area is prone to insecurity and average rental values in Ojo, Lagos range from N151329.41 ($302.66) to N167333.33 ($334.67) per annum. Correlation analysis shows that home rental prices have high, positive and significant correlations (rs = 0.725 and p < 0) with UNSI. After controlling for neighborhood and structural factors, it is found that urban neighborhood security positively influences home rental values as a unit improvement in security leads to N81000.00 ($162.00) increase in rental value per annum.Practical implicationsUrban neighborhood security risk threatens residential property values, creates unintended residential mobility and destabilizes families. Findings from this study point to the facts that security is a key component of urban housing values and developers, and real estate investors must ensure that this component is well factored into property design, construction and valuation.Originality/valueThis is perhaps the first study that uses an objectively derived UNSI to study home rental price dynamics in Nigeria. The study extends knowledge on urban housing price determinants and contributes to literature on the crucial place of security in property management.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42779712","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposePost-occupancy evaluation (POE) of office buildings, accommodating large number of users, is significantly demanded, to ascertain the provision and upkeep of users' requirements. This paper presents the findings of a POE of an office building located in Saudi Arabia, as a case study.Design/methodology/approachA mixed approach of qualitative and quantitative research activities were conducted to achieve the objective of this study. Previous studies were analyzed to identify 28 performance indicators, grouped under seven technical and functional performance elements in office buildings. A walkthrough served to gain familiarity with the building, and identify the obvious performance defects. Interviews were conducted to solicit the users' perceptions about the performance elements, and initiate discussions based on the findings of the walkthrough. A user satisfaction survey was then deployed to quantify the user's feedback on the performance of the building.FindingsUsers of the case study office building were generally satisfied with all the technical performance elements, except visual comfort. They were also dissatisfied with two functional performance elements, namely office layout and building equipment.Practical implicationsRecommendations were developed to improve the performance of the case study building. The approach followed and the defined indicators can be of practical value to design professionals, administrators and facilities managers, responsible for the design and operation of office buildings.Originality/valueOffice buildings are valuable business capital for their corporate organizations. This study contributes to the facilities management literature, through providing a systematic approach for the quality and performance appraisal of the performance elements of office buildings.
{"title":"A preliminary post-occupancy evaluation of the built-environment in office buildings: a case study from Saudi Arabia","authors":"M. Hassanain, Mohammed S. Mahroos","doi":"10.1108/pm-11-2022-0089","DOIUrl":"https://doi.org/10.1108/pm-11-2022-0089","url":null,"abstract":"PurposePost-occupancy evaluation (POE) of office buildings, accommodating large number of users, is significantly demanded, to ascertain the provision and upkeep of users' requirements. This paper presents the findings of a POE of an office building located in Saudi Arabia, as a case study.Design/methodology/approachA mixed approach of qualitative and quantitative research activities were conducted to achieve the objective of this study. Previous studies were analyzed to identify 28 performance indicators, grouped under seven technical and functional performance elements in office buildings. A walkthrough served to gain familiarity with the building, and identify the obvious performance defects. Interviews were conducted to solicit the users' perceptions about the performance elements, and initiate discussions based on the findings of the walkthrough. A user satisfaction survey was then deployed to quantify the user's feedback on the performance of the building.FindingsUsers of the case study office building were generally satisfied with all the technical performance elements, except visual comfort. They were also dissatisfied with two functional performance elements, namely office layout and building equipment.Practical implicationsRecommendations were developed to improve the performance of the case study building. The approach followed and the defined indicators can be of practical value to design professionals, administrators and facilities managers, responsible for the design and operation of office buildings.Originality/valueOffice buildings are valuable business capital for their corporate organizations. This study contributes to the facilities management literature, through providing a systematic approach for the quality and performance appraisal of the performance elements of office buildings.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44541024","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
H. Nguyen, L. Do, Cuong V Hoang, Phuong Thi Tuyet Nguyen
PurposeThis study examines the motivational forces of self-transcendence and self-enhancement values in consumers' green apartment purchase intention since the values have been seen as the key determinants of environmental beliefs and concerns that motivate pro-environmental behaviour adoption amongst consumers regardless of external barriers. Additionally, this study identifies the role of environmental content in strengthening the effects of self-transcendence value.Design/methodology/approachSurvey data were collected from 234 residents of three high-rise apartment buildings in Hanoi, Vietnam. Measure reliability and validity were tested by confirmatory factor analysis (CFA) before hierarchical ordinal least squares regression (OLS) was conducted to test the hypotheses.FindingsThe research results reveal a significant positive relationship between self-transcendence value and consumers' green apartment purchase intention. However, environmental problem-related content exposure was found to weaken the effect of self-transcendence value on the purchase intention whilst the effect was reported to be strengthened by pro-environmental action-related content exposure.Originality/valueTheoretically, this study emphasizes the importance of interaction effects between external factors and personal values in explaining consumer's decisions and behaviours. Practically, the research results provide valuable insights for marketers and developers into fostering the adoption of green building apartments amongst consumers.
{"title":"Value activation to increase consumers' intention to purchase green apartments","authors":"H. Nguyen, L. Do, Cuong V Hoang, Phuong Thi Tuyet Nguyen","doi":"10.1108/pm-10-2022-0074","DOIUrl":"https://doi.org/10.1108/pm-10-2022-0074","url":null,"abstract":"PurposeThis study examines the motivational forces of self-transcendence and self-enhancement values in consumers' green apartment purchase intention since the values have been seen as the key determinants of environmental beliefs and concerns that motivate pro-environmental behaviour adoption amongst consumers regardless of external barriers. Additionally, this study identifies the role of environmental content in strengthening the effects of self-transcendence value.Design/methodology/approachSurvey data were collected from 234 residents of three high-rise apartment buildings in Hanoi, Vietnam. Measure reliability and validity were tested by confirmatory factor analysis (CFA) before hierarchical ordinal least squares regression (OLS) was conducted to test the hypotheses.FindingsThe research results reveal a significant positive relationship between self-transcendence value and consumers' green apartment purchase intention. However, environmental problem-related content exposure was found to weaken the effect of self-transcendence value on the purchase intention whilst the effect was reported to be strengthened by pro-environmental action-related content exposure.Originality/valueTheoretically, this study emphasizes the importance of interaction effects between external factors and personal values in explaining consumer's decisions and behaviours. Practically, the research results provide valuable insights for marketers and developers into fostering the adoption of green building apartments amongst consumers.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44591579","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposeAdopting a welfare stance, this paper considers whether the neoliberalist approach which has been adopted by successive UK and Scottish governments will achieve optimal societal outcomes or lead to the under provision of senior housing.Design/methodology/approachData collection centred on informed multi-stakeholder groups that have significant experience working in the retirement and senior housing sector. Core techniques included desk-based study of secondary academic, consultancy and policy documents. Primary data collection techniques involved primary participation of three Scottish taskforce meetings and interviews with key stakeholders from across the sector.FindingsThe paper concludes that without direct government intervention in the market, the welfare ambition to provide adequate housing for an ageing population will not materialise with significant shortfalls in appropriate stock predicted. To prevent this scenario developing, increased public and private sector interaction is essential.Originality/valueThe research follows the growing concern to provide research that has “real world” relevance. The paper conducts a detailed analysis of the Scottish government's housing strategy and reports on the findings of interviewees with key stakeholders. The paper makes recommendations for greater public/private partnerships.
{"title":"The role of the state in encouraging the supply of senior housing: a looming welfare crisis?","authors":"A. Fyfe, N. Hutchison, G. Squires","doi":"10.1108/pm-10-2022-0076","DOIUrl":"https://doi.org/10.1108/pm-10-2022-0076","url":null,"abstract":"PurposeAdopting a welfare stance, this paper considers whether the neoliberalist approach which has been adopted by successive UK and Scottish governments will achieve optimal societal outcomes or lead to the under provision of senior housing.Design/methodology/approachData collection centred on informed multi-stakeholder groups that have significant experience working in the retirement and senior housing sector. Core techniques included desk-based study of secondary academic, consultancy and policy documents. Primary data collection techniques involved primary participation of three Scottish taskforce meetings and interviews with key stakeholders from across the sector.FindingsThe paper concludes that without direct government intervention in the market, the welfare ambition to provide adequate housing for an ageing population will not materialise with significant shortfalls in appropriate stock predicted. To prevent this scenario developing, increased public and private sector interaction is essential.Originality/valueThe research follows the growing concern to provide research that has “real world” relevance. The paper conducts a detailed analysis of the Scottish government's housing strategy and reports on the findings of interviewees with key stakeholders. The paper makes recommendations for greater public/private partnerships.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42341546","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposeThe study aims to assess the sourcing approaches used in providing facilities management (FM) services in hotels. It further explores the factors that influence hotels' choice of sourcing approach and the challenges.Design/methodology/approachThe study used a case study design. Simple random, census and purposive sampling techniques were used to select the hotels and respondents. Data were collected using interviews and analysed thematically. The data were presented in narration and direct quotes from the respondents. The critical factors influencing outsourcing decisions were ranked using the relative importance index. This study is based on a single case. Therefore, further research should be conducted to expand the scope of study nationwide as a step toward making the results more robust.FindingsBoth in-house and outsourcing sourcing approaches were used to provide FM services. In-house FM services mainly focused on cleaning, security and aspects of maintenance. Internet and information technology related services and other maintenance activities were also outsourced. Outsourcing decisions in the various hotel categories were mostly guided by the cost of outsourcing, core business, lack of in-house skills and hotel size.Practical implicationsFM strategy can be developed to guide the management of FM activities in hotels. An approach that adds value and enhances the activities of hotels and provides convenience to customers must be adopted by hotels. Further studies should be conducted on the cost implications of the two main sourcing approaches, as well as the impact of sourcing approaches on customer satisfaction. An additional study should focus on the driving factors influencing the cost and quality of outsourced FM services in hotels. This will help provide comprehensive information on effective FM sourcing approaches and the operations of hotels.Originality/valueThe study focused on the sourcing approaches used by hotels to provide FM services. It also explored the influencing factors and challenges of FM practices in hotels.
{"title":"Assessment of facilities management sourcing approaches in hotels in Ghana: a study of selected hotels in Wa","authors":"Tahiru Alhassan, J. Kidido, Oliver Tannor","doi":"10.1108/pm-07-2022-0052","DOIUrl":"https://doi.org/10.1108/pm-07-2022-0052","url":null,"abstract":"PurposeThe study aims to assess the sourcing approaches used in providing facilities management (FM) services in hotels. It further explores the factors that influence hotels' choice of sourcing approach and the challenges.Design/methodology/approachThe study used a case study design. Simple random, census and purposive sampling techniques were used to select the hotels and respondents. Data were collected using interviews and analysed thematically. The data were presented in narration and direct quotes from the respondents. The critical factors influencing outsourcing decisions were ranked using the relative importance index. This study is based on a single case. Therefore, further research should be conducted to expand the scope of study nationwide as a step toward making the results more robust.FindingsBoth in-house and outsourcing sourcing approaches were used to provide FM services. In-house FM services mainly focused on cleaning, security and aspects of maintenance. Internet and information technology related services and other maintenance activities were also outsourced. Outsourcing decisions in the various hotel categories were mostly guided by the cost of outsourcing, core business, lack of in-house skills and hotel size.Practical implicationsFM strategy can be developed to guide the management of FM activities in hotels. An approach that adds value and enhances the activities of hotels and provides convenience to customers must be adopted by hotels. Further studies should be conducted on the cost implications of the two main sourcing approaches, as well as the impact of sourcing approaches on customer satisfaction. An additional study should focus on the driving factors influencing the cost and quality of outsourced FM services in hotels. This will help provide comprehensive information on effective FM sourcing approaches and the operations of hotels.Originality/valueThe study focused on the sourcing approaches used by hotels to provide FM services. It also explored the influencing factors and challenges of FM practices in hotels.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41741615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose The purpose of this research is to ascertain the extent to which the income capitalization approach reflects the pattern of emerging rental income in Enugu property market.Design/methodology/approachThe survey research design was used in this study. Data from the field was gathered through a data collection pro forma administered to 40 valuers in Enugu metropolis in the manner of conducting interviews. This study used key valuation details of 54 sampled income generating properties valued by the respondent valuers between 2015 and 2022 using the income capitalization approach. The same sampled properties were then revalued by the researchers using annuity due assumption/formulas of the income capitalization approach. Descriptive and inferential statistics were used to analyze the data.Findings The study revealed that the income capitalization approach used by most valuers in Enugu does not reflect the property rental income pattern prevailing in Enugu property market where rents are paid in advance. The study further shows that the application of the income capitalization approach for valuation of annually in-advance property rental income cash flow results in a higher capital value of 3.49% in Enugu property market.Research limitations/implicationsThe limitations to this study are that past valuation done by valuers were used in the analysis instead of actual property sales and a relatively small number of sampled valuers and properties are used in the study The implication of the study is that ordinary annuity assumptions or formulas is inaccurate and not suitable for valuation of income generating property in an emerging market like Nigerian where timing of cash flow is annually in advance. Based on the result of this study it seems that ordinary annuity approach negate the principle of estimating value using income capitalization method by converting future cash flow from income generating property into an estimate of property value.Practical implicationsThe study advocates the adoption of the use of annuity due formulas in the valuation of income generating properties in Nigeria as its practice standard to avoid undervaluation as this assumption is logical and provides more accurate value due to prevailing lease structure and rent payments patterns in the country. The implication of the study is that the use of ordinary annuity assumptions or formulas is inaccurate and not suitable for the valuation of income generating property in an emerging market like Nigerian where timing of cash flow is annually in advance.Originality/value This is one of the very few empirical studies carried out in Nigeria to ascertain the extent to which the income capitalization approach used by valuers reflects the rental income pattern that prevails in the Nigeria property market.
{"title":"Application of income capitalization approach for emerging rental income cash flow in Enugu metropolis property market","authors":"K. Ifeanacho, I. R. Egbenta","doi":"10.1108/pm-05-2022-0037","DOIUrl":"https://doi.org/10.1108/pm-05-2022-0037","url":null,"abstract":"Purpose The purpose of this research is to ascertain the extent to which the income capitalization approach reflects the pattern of emerging rental income in Enugu property market.Design/methodology/approachThe survey research design was used in this study. Data from the field was gathered through a data collection pro forma administered to 40 valuers in Enugu metropolis in the manner of conducting interviews. This study used key valuation details of 54 sampled income generating properties valued by the respondent valuers between 2015 and 2022 using the income capitalization approach. The same sampled properties were then revalued by the researchers using annuity due assumption/formulas of the income capitalization approach. Descriptive and inferential statistics were used to analyze the data.Findings The study revealed that the income capitalization approach used by most valuers in Enugu does not reflect the property rental income pattern prevailing in Enugu property market where rents are paid in advance. The study further shows that the application of the income capitalization approach for valuation of annually in-advance property rental income cash flow results in a higher capital value of 3.49% in Enugu property market.Research limitations/implicationsThe limitations to this study are that past valuation done by valuers were used in the analysis instead of actual property sales and a relatively small number of sampled valuers and properties are used in the study The implication of the study is that ordinary annuity assumptions or formulas is inaccurate and not suitable for valuation of income generating property in an emerging market like Nigerian where timing of cash flow is annually in advance. Based on the result of this study it seems that ordinary annuity approach negate the principle of estimating value using income capitalization method by converting future cash flow from income generating property into an estimate of property value.Practical implicationsThe study advocates the adoption of the use of annuity due formulas in the valuation of income generating properties in Nigeria as its practice standard to avoid undervaluation as this assumption is logical and provides more accurate value due to prevailing lease structure and rent payments patterns in the country. The implication of the study is that the use of ordinary annuity assumptions or formulas is inaccurate and not suitable for the valuation of income generating property in an emerging market like Nigerian where timing of cash flow is annually in advance.Originality/value This is one of the very few empirical studies carried out in Nigeria to ascertain the extent to which the income capitalization approach used by valuers reflects the rental income pattern that prevails in the Nigeria property market.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46028980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
PurposeHousing provision and the neighbourhood's safety are significant social sustainability concerns. If structural issues are not well checked, housing provision and the neighbourhood's safety may become threatened, especially in Lagos State, Nigeria. Thus, this study aims to investigate the perceived root cause of collapsed buildings at the construction stage using two case studies, its effect on social sustainability aspects and suggested measures to mitigate future happening and enhance achieving social sustainability aspects goals.Design/methodology/approachThe researchers collected data from Nigeria's built environment experts and eyewitnesses/employees of selected cases of collapsed buildings. The study adopted a phenomenology type of qualitative research design and analysed collated data via thematic analysis and achieved saturation. The analysed data created three themes.FindingsResults reveal that inadequate heavy equipment and personnel incapacitated relevant government agencies are responsible for handling emergency and rescue during building projects collapse. Preliminary findings show developers' greed and systematic failures as the root cause of Nigeria's building project collapse (BPC). It categorised the root causes into three groups (developer's related-cause, design team related-cause and government entities related-cause). The study suggested measures to mitigate future happening. The emerged measures were grouped into a penalty, regulatory, byelaw act, technical and safety measures.Originality/valueThis study contributes to curbing the threat to social sustainability of housing provision in cities. It reveals the underlying perceived root cause of collapsed buildings in Nigeria's building industry. Also, it suggested feasible measures to mitigate BPC. These measures may be modified and adopted by other developing countries facing similar challenges.
{"title":"Social sustainability under threat: a case of two collapsed buildings in Lagos, Nigeria","authors":"Andrew Ebekozien, C. Aigbavboa, M. S. Samsurijan","doi":"10.1108/pm-10-2022-0072","DOIUrl":"https://doi.org/10.1108/pm-10-2022-0072","url":null,"abstract":"PurposeHousing provision and the neighbourhood's safety are significant social sustainability concerns. If structural issues are not well checked, housing provision and the neighbourhood's safety may become threatened, especially in Lagos State, Nigeria. Thus, this study aims to investigate the perceived root cause of collapsed buildings at the construction stage using two case studies, its effect on social sustainability aspects and suggested measures to mitigate future happening and enhance achieving social sustainability aspects goals.Design/methodology/approachThe researchers collected data from Nigeria's built environment experts and eyewitnesses/employees of selected cases of collapsed buildings. The study adopted a phenomenology type of qualitative research design and analysed collated data via thematic analysis and achieved saturation. The analysed data created three themes.FindingsResults reveal that inadequate heavy equipment and personnel incapacitated relevant government agencies are responsible for handling emergency and rescue during building projects collapse. Preliminary findings show developers' greed and systematic failures as the root cause of Nigeria's building project collapse (BPC). It categorised the root causes into three groups (developer's related-cause, design team related-cause and government entities related-cause). The study suggested measures to mitigate future happening. The emerged measures were grouped into a penalty, regulatory, byelaw act, technical and safety measures.Originality/valueThis study contributes to curbing the threat to social sustainability of housing provision in cities. It reveals the underlying perceived root cause of collapsed buildings in Nigeria's building industry. Also, it suggested feasible measures to mitigate BPC. These measures may be modified and adopted by other developing countries facing similar challenges.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48586551","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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