INTRODUCTION

1.1 Background of the Study

Real estate is legal term that encompasses land along with improvements to the land such as buildings, fences and other sites improvement fixed in location which are immovable. Real estate is usually considered synonymous (similar in meaning) with real property. However, in some situation the term “Real Estate” refers to land fixtures together as distinguished from “Real Property” referring to ownership of land including anything of a per manual nature such as structures, trees, minerals and the interest, benefits and the inherit right thereof.

Real estate “an interest in land”, here the word can mean either an ownership interest or leasehold interest. In an ownership interest, the investor is entitled to the full right and responsibilities of a land owner (for example, any loses as result of natural disastrous and the obligation to pay properties taxes) on the other land, leasehold interest only exist when land owner agrees to pass some of his rights on to a tenant in exchange for the payment of rent. If you rent an apartment you have a leasehold interest in real estate. If you own a home, you have an ownership interest in that home.

Some have claimed that the word real is derived from “royal” (The word royal and its Spanish cognate, real come from the related Latin word rex-regnis, meaning King. For hundreds of years the Royal family king owned the land, and the peasants paid rent or property taxes to be on the Royal Lands. Today, just like hundreds of years in the past, we pay property taxes, or rent to be on the government’s land or the Royal Estate). However, the “real” in “real property” is derived from the Latin for “thing”.

A real estate management company will have expertise is property management, as well as time available to deal with any and all problems. A real estate manager will help market the property to minimize vacant units, which decreases your profit. They also normally have the experience necessary to weed out large number of unsuitable tenants before they even rent the place. An expert property manager will be able to tell good tenants from bad tenants and remove ones that will end up creating problems or not paying the rent on time or at all. This aspect alone may save hundred thousand on courts cost and fee to evict an unwanted tenant. Real estate manager will also take care of any necessary repairs to investment property. If there is a problem, the property manager usually has the experience and contacts to get the repairs done at a reasonable cost. They will also schedule any necessary maintenance to optimize the property value. A property manager can save an investor an enormous amount of time and work, while keeping the real estate condition in the best possible value.

• Statement of the Problem

The following are the problems associated with the present method of real estate management:

• There is little or no information about the available property.
• Customers spend time and money looking for properties that will suite their requirement which becomes inconvenient.
• Customers can’t easily contact the agent.

 

• Aim and Objectives of the Study

The aim of this work is to develop an online real estate agent and property management system, which brings about the following objectives:

1. Develop a real estate management system
2. Create a reliable database and admin dashboard that will display different properties, and their locations.
3. Accessible property listing so users can stay in the comfort of their homes or offices to view properties and contact agency.

 

• Significance of the Study

This research work is of great importance in that it seeks to provide innovative services relating to estate management such as providing information on vacant property as quickly as possible.

 

1.5 Scope and Limitations of the Study

The goal of this research work is to develop an automated real estate agent management system using State housing, Calabar as a case study.

Following the factors related to the logistics, managerial operation and some other restriction, certain Limitations are inherent in the project:

1. Financial constraints to implement some certain APIs and hosting it to a real time server to enable real time messaging and getting feedbacks through emails
2. Time constraint to understudy more similar systems of real estate management

1.6 Definition of Terms

• ESTATE: An estate can be seen as a property to which a person is lawfully entitled.
• INFORMATION: The act of informing or impacting knowledge
• PROPERTY: Quality or thing owned or possessed by an individual or group of people.
• SYSTEM: A system is a set of interacting or interdependent components of forming an integrated whole in order to accomplish a task.
• AGENT: an agent is a person who acts on behalf of another person or group.
• PROJECT MANAGEMENT: In real estate management, it focuses on the premise of construction project activities been carried out by all the appointed allied professionals in the build environment discipline, on a particular project from conceptualization state to completion stage.
• MANAGEMENT: It an act or process of organizing and directing workflow operations to meet a set of goals.
• PROPERTY MANAGEMENT: Involves identifying and putting in place various ways by which land and landed properties as an investment holding will be properly managed to the barest minimum in order to maximize streams of income emanating from such property as well as enhance its value.

ESTATE MANAGEMENT: it deals with the appraisal, acquisition, development, marketing, or management of a property.