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Property Management

17 Mar 2020

Q1. What is Property management?

Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. Management indicates the need of real estate to be cared for and monitored, with accountability for and attention to its useful life and condition considered. This is much akin to the role of management in any business.

Property management is also the management of personal property, 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, responsibility, maintenance, utilization, and disposition.

An owner of a single-family home, condominium, or multi-family building may engage the services of a professional property management company. The company will then advertise the rental property, handle tenant inquiries, screen applicants, select suitable candidates, draw up a lease agreement, conduct a move-in inspection, move the tenant(s) into the property and collect rental income. The company will then coordinate any maintenance issues, supply the owner(s) with financial statements and any relevant information regarding the property, etc.

 

Q2. 1 Identify ways in which managers can minimize the risks associated with interfacing various stand-alone systems with a hotel property management system?

Having clear lines of communication between all departments of your property and with the guest is integral to a successful accommodation. With a property management system you can facilitate easy communication, and ensure that all departments are operating effectively and efficiently.

 

Q3. What is netiquette? How should social media be used in a property manager?

The term netiquette is commonly used in reference to popular forms of online communication, including email, forums and chat.

While some netiquette issues are technical in nature, all fundamentally concern how people relate to each other. Once the technical nuances are grasped and abstract concepts are understood, online etiquette is not much different than offline etiquette.

 

Tips for social media uses in a property manager:

  1. Always Respond to Reviews or Complaints.
  2. Boost your Social Media Search Rank with Consistency.
  3. Use Images and Videos to Boost Views.
  4. Encourage Local Events and Businesses.
  5. Understand Your Social Media Analytics.
  6. Have a Social Media Schedule.
  7. Host a Social Media Contest.

Q4. What are Security aspects of property management systems?

Security aspects of property management should be video surveillance and security systems, information management tools and business intelligence solutions to help make smarter operational decisions.  From security systems for commercial, industrial and warehouse spaces to integrated security solutions that meet today's multi-family apartment complex security and parking garage security requirements.

Using remote security management, you can reset codes, watch live video surveillance, enable or disable permissions and credentials from virtually anywhere. Connect your video surveillance network directly to our Customer Care Centers to enjoy unattended deliveries, video guard tours, video escort services and more.

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Login to ProjectRERA.com and buy home or any property in your budget with RERA approved projects.