Property management systems may be used in real estate, manufacturing, logistics, intellectual property, government or hospitality accommodation management. They are computerised systems that facilitate the management of properties, personal property, equipment, including maintenance, legalities and personnel all through a single piece of software. They replaced old-fashioned, paper-based methods that tended to be both cumbersome and inefficient.
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In the hospitality industry a property management system also known as a PMS is a computerized system used to manage guest bookings, online reservations, point of sale, telephone and other amenities. Hotel property management systems may interface with central reservation systems and revenue or yield management systems, front office, back office and point of sale systems.
There are many different types of property management systems available like OPERA and GUEST360, but a user/business will want to work with the different companies to determine which property management system best fits their needs. [1]
Property Management Systems are used in local government since authorities hold and manage large property estates ranging from schools, leisure centres, social housing and parks not to mention investment properties such as shops and industrial estates - even pubs. All of these are necessary income earners for a local authority, so the efficiency gained through an automated, computerised system is essential.
Property management systems are used to manage, control and account for personal property. Property is defined as the equipment, tooling and physical capital assets that are acquired and used to build, repair and maintain end item deliverables. Property Management involves the processes, systems and manpower required to manage the life cycle of all acquired property as defined above including Acquisition, Control, Accountability, Maintenance, Utilization, and disposition.