There are numerous historic and monumental properties scattered all over the nooks and crannies of Nigerian Cities which are in ruins due to poor management and neglect. Despite the facts that historic buildings play vital roles as places of tourism and recreation thus enhancing economic development and growth of many countries yet many of such sites in Nigeria are poorly managed. The study which is exploratory in nature seeks to discover why such properties are not properly managed and what can be done to sustain such properties so that they do not go into extinction. The study adopts a survey approach and makes use of online surveys to reach out to Property Managers on the role they play in the management of such properties, barriers to effective management and likely solutions for sustainable management of such properties.