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Analysis of Tenant Selection Criteria in an Emerging Rental Market

§ Department of Estate Management and Valuation Lagos ...
‡ Department of Estate Management Obafemi Awolowo Univ...

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Analysis of Tenant Selection Criteria in an Emerging Rental Market

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Abstract

The aim of this paper is to investigate tenant selection criteria adopted by the registered real estate firms and the relationship between the criteria and the firms’ years of experience in property management practice, core areas of professional practice and size of the firms with a view to determining the important criteria required of prospective tenant(s) to secure a rental apartment in the developing property market of Metropolitan Ibadan.The study adopts a questionnaire survey. The instruments (Tenant Assessment Checklists) were administered on a sample of estate surveying and valuation firms (registered real estate firms). Data collected were analysed using discriptive statistics, factor analysis, cluster analysis and chi-square. It is found that while the respondent property managers(agents) base their selection criteria on tenant reputation, tenant impact record, tenancy report and size of the need in rental housing, prospective tenant’s proposal, affordability and the reputation are the factors considered in commercial leases. It is also found that while there is significant relationship between the firms’ core areas of professional practice and the tenant selection criteria, there is no significant relationship between the firms’ years of property management practice, size of the firms and tenant selection criteria adopted in rental housing market.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Job Taiwo Gbadegesin. 2014. "Analysis of Tenant Selection Criteria in an Emerging Rental Market". Global Journal of Management and Business Research - G: Interdisciplinary GJMBR-G Volume 13 (GJMBR Volume 13 Issue 37 (G7)).

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords
Classification
GJMBR-G Classification JEL Code: R00
Version of record
v1.2

Issue date
October 28, 2013

Language
English
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Analysis of Tenant Selection Criteria in an Emerging Rental Market

Job Gbadegesin
Job Gbadegesin