Dispute resolution in corporate multi-tenanted property management: a case study

Abstract

Purpose – This study aims to evaluate the practice of dispute resolution in Lagos International Trade Fair Complex, Lagos State. Design/methodology/approach – Questionnaires were distributed to two study groups of 400 users/occupiers and officials of the managing agents. A total of 100 were returned and found useable for the study. The study adopted the descriptive method of percentages, mean and proportion method for analysis. Findings – The study found that there often existed disputes and when it occurs, the common reaction is for them to alert other users of the building. Other findings are that the methods of dispute resolution adopted are arbitration, mediation, conciliation and litigation and that the most commonly adopted method is arbitration. Research limitations/implications – Limiting the scope of the study to the perception of the respondents could reflect an element of bias and might pose a great challenge to the representativeness of the findings. Also, the use of closed question questionnaire may limit the validity of the results. Practical implications – The study has major implications on real estate investment and practice in Nigeria. There is the need to incorporate behavioural knowledge in the curriculum of estate management and valuation to prepare graduates for efficient practice and the continuous re-training of practitioners to prevent future declining real estate profession. Originality/value – The paper documents the requisite information needed for developing contemporary policy on real estate education in the country. It also serves as a guide for real estate practitioners and regulatory bodies for developing contemporary real estate practice to meet emerging trends in CREM practice and for relevance in the practice of CREM as an evolving sub-discipline of estate management.