Property management system

Property management systems also known as PMS or Hotel Operating System (Hotel OS), under business terms may be used in real estate of mind, manufacturing, logistics, intellectual property, government or hospitality accommodation management. They are computerized 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. They are often deployed as client/server configurations. Today, most next generation property management systems favour web and cloud technology and offer their software to clients using a software-as-a-service model. When choosing a Cloud or PC based system hoteliers should consider the impact of the internet being down. With a Cloud based system if you lost internet how would you check customer in or produce bills. Even a few hours out at the wrong time of day could be difficult.

Hospitality industry

In the hospitality industry a property management system also known as a PMS is a comprehensive software application used to cover some basic objectives such as coordinating the operational functions of front office, sales and planning etc. Automate hotel functions like guest bookings, guest details, online reservations, point of sale, telephone, accounts receivable, sales and marketing, banquets, food and beverage costing, materials management, HR and payroll, maintenance management, quality management and other amenities.Hotel property management systems may interface with central reservation systems and revenue or yield management systems, front office, back office, point of sale, door-locking, housekeeping optimization, pay-TV, energy management, payment card authorization and channel management systems. A full featured product takes care of automating all the functional departments of a hotel right from the Front Office, F&B Services, Housekeeping etc integrated with back office operations like inventory management and financial accounting.^[1] A good PMS should give accurate and timely information on the basic KPI(Key Performance Indicators) of a hotel business such as Rev Par or occupancy rate and help the Food and Beverage management control the stocks in the store room and help deciding what to buy, how much and how often. The perishability of the main good in the hotel industry (the roomnight) makes these PMS applications a must for a professional management.

Local government

Property management systems are used in local government authorities, since these 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, computerized system is essential.

Manufacturing and logistics industries

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.

Commercial properties

Property Management systems allow local property managers and maintenance personnel manage the day-to-day operations of their properties. Property maintenance for commercial properties includes major focus areas such as risk management, maintenance, communication, and tenant satisfaction. Usually a certain agreed percentage of the rent payment will be deducted on each rent payment collected by the property management as their service fee. There are also other ways of charging the property owners using the service but percentage collection is the common one.

See also

• Hotel Technology Next Generation
• Hotel reservation system
• Computer reservation system
• Computer-aided facility management
• Property management software

References

1. Complete hotel management system for independent hotels in the UK - Mainstay Professional

2. Cloud-Based Hotel Property Management System Overview

3. Property Management System FAQs

4. Modern industry expectation from a PMS

5. hotel management system

6. All-in-one hotel management system for small independent hotels