Real EstateESTATE MANAGEMENT (II)

September 23, 2021by Silver Pacific0
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FACTORS THAT AFFECT ESTATE MANAGEMENT

Economic factors that affect estate management can be as a result of demand and supply of resources within the country. The economic status of the country can affect estate management. Nevertheless, cost of land inputs also affects estates economically. Labour and capital been the land inputs in estate management can posse a treat to estate management profession.

Technological factors and increase in scientific innovations can affect estate management especially if a manager or property owner doesn’t update himself with the recent technologies because poor housing design will lead to low or decreased demand for such property and the financial returns of that property would be affected.

Social factors like the norms and customs of places can affect the use of land in an area. The social life and culture of a locality can affect estate management.

Legal factors like the civil and legal laws of a place can affect the practice of estate management in any place. Laws like the land laws, taxation laws and other property laws can affect estate management simultaneously.

AIMS AND OBJECTIVES OF ESTATE MANAGEMENT
As property owners are everywhere, so are the aims and objectives of estate management are. Nevertheless, there are some vital aims and objectives of estate management in a given place. They are;

(1)To satisfy economic need of an individual which can either be accommodation or otherwise.

(2)Estate management is aimed at providing profit to prospective estate owners especially in the private sectors whose aim is to get financial returns from their real estate or investment as the case may be.

(3)For independence as we can see, estate management is aimed at providing individuals with opportunities of been independent from others by providing various investment opportunities for these individuals.

(4)Estate management aims at providing individuals with social status and prestige which implies that property owners need not to be interested in acquiring financial returns but to maintain a hierarchy in the society by the properties they have.

(5)For political status means that it provides prospective political aspirants the opportunity to meet up to their expectations.

(6)Estate management makes it possible for one to get social benefit in form of government of a state developing parks and roads and hospital and other social infrastructures that will aid public services.

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