It Report S

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COVENANT UNIVERSITY, OTA – OGUN STATE
SCHOOL OF ENVIRONMENTAL SCIENCES

NAME
OLAWORE IFEOLUWA. O

MATRICULATION NUMBER
CU06CL04660

DEPARTMENT
ESTATE MANAGEMENT

SIWES REPORT

SESSION
2009/2010

CONTENTS

CHAPTER ONE
ACKNOWLEDGEMENT
ABOUT THE COMPANY
* Brief History

* Brief Description of the Office

CHAPTER TWO
MY PARTICIPATION IN THE COMPANY
* Valuation Department

* Sales Department

* Management Department

* Agency /Letting Department

MEMORABLE EXPERIENCE

ACKNOWLEDGEMENT

It is of most importance to me to first all give thanks to GOD. My unlimited thanks go to my parents, for their tireless support and encouragement. And to my siblings for all their interesting-memorable contributions. I also want to thank Ubosi Eleh + Company for the opportunity given to me to serve in their office and profound gratitude to all the staff of Ubosi Eleh + Company, Ikeja Branch – for their effort and patience in getting me trained on professionalism, faithfulness, loyalty, morals and discipline. Finally, I want to thank Covenant University for providing a platform for me to carry out my SIWES programme.

CHAPTER ONE

ABOUT THE COMPANY

Brief History
UBOSI ELEH + COMPANY Estate Surveyors and Valuers was incorporated in 1991 with two Principal Partners (Mr. Ubosi Chudi & Mr. Eleh Emeka). They both had their first degree in 1985 and 1987; and also had the MSc. Degree in Construction Management in 1987 and 1995 repectively. Both are fellows of the Nigerian Institution of Estate Surveyors and Valuers(NIESV), and so have the seal of professional practice. Since inception, the company has had its head office at 27, Obafemi Awolowo way, Ikeja, Lagos, and three other branches in Victoria Island, Lagos; Abuja and Port Harcourt. Ubosi Eleh + company has since then been waxing stronger in professionalism.

Brief Description of the Office
Ubosi Eleh & Company- Ikeja Branch is located at 27, Obafemi Awolowo Way, opposite Computer Village, Ikeja, Lagos. The office is on the 2nd floor of an office complex on three floors, with a security gate house. We have five (5) different departments including the SIWES department. The office arrangement is a wide open space with each department being sectioned with aluminum & board. While the Principal partner’s office, the accountant’s office and the secretary/receptionist’s section and the conference room are completely calved out with each room linking the open space one door each. Getting trained in Ubosi Eleh & Company was a wonderful experience. I was one of a group of the seven IT students that were priviledged to work and so according to the branch manager’s instruction a monthly roaster was drawn so that each of us in the IT group would get trained in each of the four departments at least once before the end of the six months training. The four departments we have are:

* Valuation
* Sales
* Agency/Letting
* Management

Each of these departments is headed by someone. All that has been done or going on in the department must be reported to him in order for him to report to the principal partners at the staff meeting.

CHAPTER TWO

MY PARTICIPATION IN THE COMPANY

1. Valuation Department
Valuation is the process of determining the value of an identified interest or interests in an asset as of a given date. Valuation can also be defined as the determination of the monetary worth or value at a specified date and for a specific purpose. A qualified professional in valuation is called “a Valuer”. The value gotten is called “an Opinion of Value”, because another valuer using his own assumptions and facts gotten might get a different but close value. During valuation, the valuation inspection is first of all carried out in which the asset is inspected and details are taken as this will serve as a basis for the value to be given. A document which is called valuation report is then prepared...
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