Service charge key in mgt of multi tenanted property -ESV. Patrick Okeke

By Mashe Umaru Gwamna

An Estate Surveyor & Valuer ESV. Patrick Kene Okeke, said Service Charge is key in the management of multitalented property.

ESV. Okeke made the disclosure in Abuja, yesterday while speaking to newsmen.

He said multi tenanted property have facilities that are used in common by all tenants.

“Facilities such as elevators, security lighting, security alarm, elevators among others. The Service Charge are imposed on all the tenants for smooth running of the property and for the common good of all”.

He said the Estate Surveyor and Valuer, will normally propose annual budget, estimate to cover the expenses which will be apportioned to tenants to pay accordingly.

“The Service Charge is paid collectively by the tenants according to the space they are occupying”.

He will equally manage the funds for the day to day running of the property.

“ The Estate Surveyor & Valuer will provide an annual report to show how the money collected are expended, each tenant must have the statement of account. This is very important to enable each tenant to know whether he has a refund or will add to the common pool of funds”, Okeke stated.

He explained that “It is important to add that nonpayment of service charge by some tenants has wide implication in the maintenance of the property.

“When the security men and cleaners for instance are not paid at the end of the month, your guess is as good as mine with what will happen to the property”.

He said that Estate Surveyors and Valuers are the only professionals who are competent to handle this aspect of property management.

“He is the one who secured the tenants and such are familiar with them and conversant with the day to day running of the property maintenance and can deal with artisans as the case maybe”, he stated.