International Journal of Advanced Multidisciplinary Research and Studies
Volume 4, Issue 4, 2024
Examining the Benefits of Regular Property Maintenance Practice on Commercial Property Investment Returns in Uyo Metropolis, Akwa-Ibom State, Nigeria
Author(s): Anamelechi H, Ekenta CE
Abstract:
Commercial property maintenance is essential for preserving, sustaining, and enhancing real estate assets. Understanding the dynamics of return on investment (ROI) in commercial property is crucial for investors, developers, and policymakers, as irregular maintenance can adversely affect returns, property performance, and tenant satisfaction. This study investigates the benefits of regular property maintenance on commercial property investment returns in Uyo Metropolis, Akwa-Ibom State, Nigeria. Employing a survey design, data collection utilized questionnaires, and interviews of commercial property investors. Purposive sampling yielded 51 retrieved questionnaires, representing 76.1% of the total population. Data analysis utilized simple statistical tools; frequency, percentage, mean score, and relative importance index (RII), revealing benefits such as increased property value, capital appreciation, and tenant retention. The study underscores the importance of comprehensive maintenance strategies in maximizing returns and ensuring sustained viability in commercial real estate markets. Future research should focus on emerging trends and innovative practices to provide actionable insights for investors and policymakers.
Keywords: Benefits, Commercial, Maintenance, Property, Investment Returns
Pages: 645-649