Leasehold estate

About: Leasehold estate is a research topic. Over the lifetime, 1589 publications have been published within this topic receiving 21480 citations. The topic is also known as: leasehold & tenancy.

Strata titles: a system of flat ownership and management

Abstract: In 1984, when a Government committee under the chairmanship of Mr E. G. Nugee QC was set up to look into the problems of management of privately owned blocks of flats (see Property Management Vol 5 No 2), both the National Consumer Council and the Building Societies Association, in their findings submitted to the committee, advocated the adoption of the Australian strata title system to replace the long leasehold. More recently, the Law Commission has called for the creation of a ‘commonhold’ system of ownership similar to the condominium concept in the United States and the strata title system in Australia. This paper presents the concept of strata titles as a system of flat ownership and management. The term ‘flat’ here is not confined to that for residential occupation but has a wider application extending to ‘airspace’. The paper examines the formation of a strata scheme, the legal and planning implications of ownership and, finally, the framework of operation.

Sustaining Tenancies or Swift Evictions: Rent Arrears in the Tenancy Tribunal

Abstract: There is a contradiction at the centre of tenancy practice and policy. On the one hand is the goal of sustaining tenancies to prevent homelessness and, on the other, a tribunal system for resolving tenancy disputes which is founded on achieving a "swift eviction". We analyse observations of tribunal hearings and mediations along with a sample of written orders. We ask whether the goal of sustaining tenancies can be achieved in a legislative framework originally intended to achieve swift eviction. We find that mediation creates space for determining a plan to pay off arrears but with little assurance the payments are accurate and realistic. Tribunal hearings for rent arrears allow limited discretion for continuing the tenancy, but even this discretion is restricted in practice. We conclude that there is a need to shift from "swift eviction" to recognising rent arrears as a consequence of poverty – one that requires support and intervention. While legislative change would support this shift, there is scope for significant improvement via process changes that borrow from the problem-solving approach of Te Ao Mārama.

Rural Development in Africa: The Role of Financial Markets

Abstract: The majority of the countries in Africa depend in large part on the rural sector. It is believed that the future development of these countries will depend in part on the successes or failures in nurturing, supporting and developing the rural areas and the rural economy, particularly in making more financial services available and accessible to rural sector inhabitants. The rural sector on the other hand, is served primarily by the rural financial markets (RFMs), a market often characterized as grossly inadequate, poorly developed, small and shallow. In this paper the rural economy and the financial markets are examined with emphasis on the role, experiences, constraints and prospects of these markets, in particular the informal financial markets, for promoting rural development. Key Words: Africa, rural financial markets, rural development The majority of countries in Africa, it is believed, depend for sustenance, in large part, on the rural sector. Future development of these countries, or the lack of it, it is also believed, will depend in part on the successes or failures in nurturing, supporting and developing the rural areas and the rural economy, particularly in improving the plight of rural households, including support for their activities. After all, the majority of the population in these countries live and work in the rural areas. The rural sector is served primarily by the informal financial markets (IFMs), which together make up a market often characterized as grossly inadequate, poorly developed, small and shallow. Regrettably, the lack of access to financial services is considered one of the major constraints to rural development in Africa, particularly to increasing investments and productive activities in the rural sector of LDCs. It comes as no surprise, therefore, that there is an observed heightened interest and efforts on the part of governments of African countries and Development Assistance Agencies (DAAs)2 alike to explore avenues to strengthen and expand the rural financial markets. This paper examines the rural economy and the informal financial markets in Africa, with particular emphasis on the role, experiences, constraints and prospects for promoting rural development. It also explores avenues for strengthening and expanding the rural financial markets. The Structure of Rural Economy The rural economy is characterized by the activities of rural inhabitants. The majority of these inhabitants in rural Africa are engaged in agriculture, often as smallholder farmers. Only a small number of rural inhabitants are engaged in non-agriculture, off-farm, income-generating activities (IGAs), often to supplement their agriculture-based income or are organized in these activities as the only earning activity and source of income. This latter group operate for the most part micro, small and medium scale enterprises (MSMEs)3. Agriculture Agriculture,in all but a few countries including the petroleum producing and exporting countries, represents the largest sector of the economy of most African countries, supporting 50% of the population and contributing substantially to the GDP and to export earnings. The agricultural sector is often characterized as comprising twosub-sectors: the smallholders who often cultivate on traditional or customary land, and the estate operators who manage leasehold and/or freehold land. Within each category, other classifications are possible, based on the size of land or holdings. To provide a complete picture of the rural sector in these countries, one must add another category comprised of operators of small-scale non-agricultural enterprises. Reliable data on these categories for African countries as a whole, however, are not available. Available data for some countries for these categories often vary and are at times incomplete. Smallholder Farmers The family is the primary source of labor in the smallholder subsector. …

EXAMINATION OF CAUSES OF TENANCY DISRUPTION AND ITS EFFECTS ON PROPERTY INVESTMENT IN ANAMBRA STATE, NIGERIA - IRE Journals

Abstract: Tenancy disruption begets significant costs for landlords/investors, as each additional property falling vacant incurs costs with respect to the repairs, cleaning and re-servicing of the property, the costs in lost rent while it remains empty and the costs of re-letting the property to another tenant. To this effect, this paper examines the causes of tenancy disruption and its effects on property investment in Anambra State with a view to providing information to enhance decision making in property investment. The study adopted a survey method. The sample size was determined using simple random sampling technique. 396 questionnaires were administered by simple random sampling technique to respondents in three major cities in Anambra State namely: Awka, Nnewi and Onitsha. Results obtained revealed that non-payment of rent, habitual late payment of rent and breach of contract are the most important circumstances that results in tenancy disruption in Anambra State while loss of income to the landlord/investor, void on properties and delayed mortgage loan repayment are the most important effects of tenancy disruption in the study area. The study concludes with proposed preventive measures which when adequately utilized in property management procedures and services could forestall tenancy disruption in the study area. Indexed Terms: Property Management, Property Investment, Tenancy Agreement, Tenancy Disruption