Olukolajo, M A; Ogungbenro, M T and Adewusi, A O (2018) Tenants' characteristics and rent default tendencies in Akure residential property market. African Journal of Built Environment Research, 2(1), pp. 41-54. ISSN 2414-0236
Abstract
The rate of rent default in rental properties is on the increase with its antecedent implications on real estate investment. This study investigates tenants' characteristics and their tendencies for rent default in Akure residential property market. Data on characteristics of 496 tenants were obtained from "acquaintance form" submitted to 19 firms of Estate Surveying and Valuation in Akure, Ondo State of Nigeria. Both descriptive and inferential statistical analyses were applied to arrive at the findings of the study. Binary Logistic regression modelling techniques revealed that prospective tenants' occupation, availability of guarantor, recommendation letter, marital status, household size, level of education, and tenant' tribe were found significant. The strongest predictor of rent default tendencies was household size, recording an odd ratio of 15.96. It was recommended among others that landlords and their agents should intensify efforts in minimizing rent default situation through tenants' screening devoid of sentiments.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Nigeria; property market; rent default; tenancy; residential properties |
| Index terms: | household, rent default, agent, modelling, surveying, logistic regression, tenancy, landlord, tenant, residential property, occupation, property market, screening, real estate investment, statistical analysis, Nigeria |
| Subjects: | practitioner, construction type, health monitoring assessment and metrics, economic analysis, analytical methods, property law, data science, real estate economics, Geography, management, statistical analysis, sociology, demography |
| Topics: | Engineering Principles, Geographical Context, Research Practice, Health and Safety, Business Strategy, Procurement, Construction Technology, Stakeholder Management, Roles and Professions, Human Resources, Urban Studies, Legal Issues |
| Descriptive scope: | 3 PCA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here