Poor Property Management Is Costing Abuja Investors Millions -Estate Surveyor Warns

By Iyabo Asan

Property owners across Abuja are losing significant income every year, not because of weak demand, but because many commercial and residential assets are poorly managed, according to estate surveyor and property management consultant, Zulu Yusuf.

Speaking during a recent industry discussion on real estate asset performance, Yusuf noted that many investors focus heavily on acquiring properties but pay far less attention to professional management after acquisition.

According to him, this oversight has become one of the biggest causes of declining rental income, rising maintenance costs and reduced property values across the Federal Capital Territory.

"Owning a property is only the first phase of the investment," he said. "The real challenge is preserving and growing the value of that asset over time. A poorly managed property begins to lose value long before the owner notices it."

He explained that issues such as inconsistent rent collection, delayed maintenance, poor tenant selection, weak financial reporting and lack of preventive maintenance gradually erode investment returns.

Yusuf observed that many shopping malls, office buildings and residential developments in Abuja operate without structured management systems, resulting in avoidable vacancies, frequent disputes and deteriorating facilities.

"In today's market, investors are no longer competing simply by owning buildings. They are competing on the quality of management. Two similar properties in the same neighbourhood can produce completely different returns depending on how they are managed."

He added that professional property management extends beyond collecting rent.

"It involves financial planning, facility maintenance, tenant retention, legal compliance, risk management and strategic improvements that enhance long-term asset performance."

Yusuf also advised investors to begin evaluating property managers using measurable performance indicators rather than personal relationships.

"Owners should regularly ask questions such as: What is my occupancy rate? How quickly are vacant units leased? What is the maintenance response time? Are operating costs reducing or increasing? Is the value of my asset improving year after year? These are the metrics that determine whether a property is truly performing."

He further noted that Nigeria's growing real estate sector would require higher professional standards as institutional investors increasingly demand transparency, accountability and measurable returns.

"As the market matures, investors will naturally gravitate towards firms that can demonstrate professional management systems, accurate reporting and sustainable asset preservation."

Yusuf, who serves as Managing Partner of Starzij Realtors, believes property management should be viewed as a strategic investment rather than an operating expense.

"When an asset is professionally managed, tenants stay longer, maintenance costs become predictable, occupancy improves and ultimately the market value of the property increases."

Industry observers believe that as more investors shift attention from property acquisition to long-term asset performance, professional property management will become an increasingly important factor in determining investment success within Nigeria's real estate sector.