Impact of Property Management Practices on Rental Value Stability in Urban Housing Markets in Lagos
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Rapid urbanization has intensified pressure on housing markets in fast-growing cities such as Lagos, leading to rising demand for residential accommodation and unstable rental values. Property management practices are increasingly recognized as critical determinants of rental housing market performance and stability. However, inconsistent management approaches, poor maintenance, and ineffective tenant management often contribute to rental price disparities across urban residential areas. This study examines the influence of property management practices on the stability of residential rental values in Lagos. It investigates commonly used management methods, the role of maintenance practices, tenant management strategies, and the contribution of professional property management. The findings show that regular property inspections (30%) and routine maintenance and repairs (25%) are among the most widely used management practices. Maintenance activities contribute 35% toward maintaining stable rental values, while proper tenant screening accounts for 32.5% in ensuring consistent rental income. Professional property managers also enhance operational efficiency and maintenance performance by 30%. The study concludes that effective maintenance, structured tenant management, and professional property management are essential for sustaining stable residential rental values in urban housing markets.
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