Property Management: Systems, ​PMS, CRM and Software

Anuj Ruhela | July 17, 2024 | 5 Min Read

What is Property Management System or ​Software?

A Property Management System (PMS) is a software application for the operation of ​various businesses, like- hospitality, real estate, commercial or residential rental ​properties etc.

It is synonymous with Property Management Software, a broader term that ​encompasses software used to manage various aspects of property operations. It ​typically includes features for rent and lease management, occupancy ma​nagement, maintenance scheduling, accounting, financial tracking and reporting; som​etimes guest services (in h​o​spitality settings).

In short, PMS is as a centralised online system that manages ​day-to-day operations such as organising, scheduling, account management, occ​upancy mana​gement, and much more.

What is Property Management CRM?

A Property Management CRM (Customer Relationship Management) is software ​designed to manage interactions with current and potential tenants. It helps ​property managers streamline communication, track inquiries and issues, manage ​tenant relationships, and improve customer service.

Types of Property Management Systems

Property Management Systems (PMS) can be tailored to different types of property ​management to address specific needs and challenges. Here are some examples:

• Residential Property Management PMS: These systems are designed to manage ​rental properties such as single-family homes, apartments, and condominiums. ​They include features for tenant screening, lease management, rent collection, ​maintenance tracking, and tenant communication.
  

• Commercial Property Management PMS: Commercial PMS focuses on managing ​office buildings, retail spaces, and industrial properties. They include ​functionalities for lease administration, tenant relations, maintenance ​management, budgeting, and financial reporting tailored to commercial ​property needs.
  

• Hospitality Property Management PMS: Hospitality PMS are specific to hotels, ​resorts, and vacation rentals. They include features for reservations ​management, guest services, housekeeping, revenue management, and ​integration with booking channels.
  

• Mixed-Use Property Management PMS: These systems cater to properties with ​mixed-use components, such as residential units combined with commercial ​spaces or retail areas. They handle diverse tenant needs and operational ​requirements across different segments.
  

• Specialised Property Management PMS: There are also PMS designed for ​specialised properties like student housing, senior living communities, ​healthcare facilities, and industrial warehouses. These systems incorporate ​industry-specific features and compliance requirements.
  

Each type of property management PMS is customised to address the unique ​challenges and operational demands of its respective property type, ensuring ​efficient management and optimal performance.

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