Real estate stands for buildings, apartments, houses and rooms that are rented out. With rising legal costs, real estate is a very profitable business. Real estate belongs to two categories, residential and commercial buildings. Although the price of land increases every year, the buildings built on the land are depreciating at a rate that depends on the location, the cities and the region.
Homes are depreciated as a result of the weakening of the concrete structure over the years, due to weather influences. Electrical and mechanical systems must be replaced in the long run. A property owner can have one apartment building or several buildings. Property management is itself a function that covers domains such as tenants, ie who lives in an apartment, the rental structure (including monthly and daily rent), rent increase and maintenance of the building and its installations.
Property management software is a powerful tool in the hands of property owners, managers and landlords. It helps keep track of the tenants in different apartments and buildings. All financial transactions related to the building can be managed and the data can be retrieved. In addition to these functions, maintenance is an important cost for building management.
Property maintenance management software helps landlords optimize building maintenance costs. Maintenance costs include repairing the installations such as utilities and maintaining outdoor maintenance work. Key modules include work order generation, contractor and dealer database, work order history, asset generation and maintenance cost reports to help managers make repair and disposal decisions.
Much of the physical assets of corporate houses is in the form of buildings. Therefore, real estate management software can be integrated across the enterprise. This will potentially reduce maintenance costs and thereby lower the operational and administrative costs of organizations.
