Odudu & Co.

MISSION

To be a leading innovative and well focused firm of Estate Surveyors and Valuers and Real Estate Consultants, providing quality services of international standard to its clientele using motivated and first class professionals committed to high ethical  standards.

AUTHORITY TO PRACTICE

The firm ODUDU & CO. was duly registered to practice Estate Surveying and Valuation profession in Nigeria since June, 1976.  The firm has been making significant progress and impact in the profession ever since.  At the moment the
firm has seven strategically  located offices in the country with its Headquarters in Lagos.

PROFESSIONAL SERVICES PROVIDED:

Real Property/Facility Management and Maintenance:

We manage all types of properties:  Residential, Commercial and Industrial.  We provide such services as letting or re-letting of property on behalf of clients and ensure that covenants of leases are strictly adhered to.  Other services include:  drawing up of Tenancy Agreements, indicating all the vital terms and conditions; space allocation/utilisation; assessment and fixing of fair rents; collection and documentation of rents payable and remission of same to landlords, periodic rents reviews; provision of approved/contracted services; payment of utility bills, statutory rates and charges; etc.

Maintenance and Repair also fall under management and they refer essentially to the usual repair/maintenance work of the building and the available services therein.  This aspect usually requires the preparation of maintenance budget, which may highlight more about such repairs or replacement of worn-out/damaged components/parts of the building and the redecoration of defaced surfaces (internal and/or external).

Valuation of Property/Facility

We value for various purposes all types of properties:  Residential Properties, Commercial Properties-Shops, Factories, Warehouses, Hotels, Restaurants and Licensed premises, Plant, Machinery and Equipment.  The resultant valuation report will be useful in the following ways:

(a)    To know the relative worth of assets/properties for sale, letting or taxation.

(b)    For Balance Sheet of Account purpose (to reflect true or current worth of assets/properties).

(c)    For Mortgage purpose e.g. to raise a loan for further expansion of business, etc.

(d)    For insurance purpose e.g. to ensure that assets are adequately insured against risk such as fire, tornado, etc.

(e)    For compensation purposes – to advise on adequate compensation to be paid or claimed e.g. during a compulsory acquisition exercise by government.

Estate Agency

From our knowledge and advice on the market values of property, we can sell, buy  and let all types of landed properties on behalf of our clients.  We also assist our clients in preparing sales and letting particulars as well as advertising our clients’  properties in the most appropriate media.

Compulsory Acquisition and Compensation

We advise our clients whose properties are to be compulsorily acquired or already acquired by government, statutory corporations or local governments, on the value of their properties.  We ensure that our clients’ rights are fully protected under the provisions of the Land Use Decree No. 6 of 1978 or any other Statutory enactments.  We also assist in preparing and negotiating our clients’ claims with the acquiring authorities.

In case of dispute as to the amount of compensation to be paid, we brief our clients’ solicitors and appear as expert witnesses at Land Tribunal hearings.  We sometimes represent or act for Acquiring Authorities by assessing and advising such authorities on the maximum compensation to be paid to those whose properties are to be acquired.

Town and Estate Planning

As Estate Surveyors, we specialise in such planning schemes that require an intimate knowledge of the property market and “consumer preferences” with regard to type, design, size, scope and mix of development or redevelopment schemes as would permit the attainment of maximum realisation of  monetary returns on investments or general utility for example, commercial and resettlement schemes.

Project Management

We supervise, on behalf of our clients, projects in progress.  We report to our clients from time to time, the progress of work on site, the contractors’ problems and the activities of the other consultants being used on the project

We also coordinate the efforts of other professionals to ensure that the project is not only completed on time but also that activities of the professionals are closely monitored and correctly utilised when needed.

General Real Estate Consultancy Work

As a general practice firm, we deal with most aspects of the Estate Surveying practice as we have on our staff very reliable, qualified and seasoned professionals who are experts in their respective fields and who render useful services to our clients on real estate matters e.g. feasibility studies on some projects.

Valuation of Specialised Assets

We have been involved in the valuation of Bank Assets, including office equipment, strongrooms/vaults.  We have also been involved in valuation of floating docks, piers, dolphins, specialised paper mills machines, sugar processing plant and machinery; etc.