Real Estate System is commonly called a real estate management system. This article aims to show the general definition of real estate, the common problems of property management, how a system could help manage various aspects of property administration, and Jinsys Software’s products that are tailored to address the common problems of property handling.
What is Real Estate?
Real Estate (RE) refers to the buying and selling, rental or leasing of a property. RE properties can consist of land and buildings along with its natural resources. RE is commonly composed of commercial properties that falls into the leisure, retail, office, industrial, healthcare, and multifamily category. For office purposes in the Philippines, most small and medium-large companies buy RE properties due to its benefits such as adequate security, facilities and amenities.
Filipino business owners also consider investing in RE due to the increasing demand of properties in the Philippines. Investing in properties are commonly for profit purposes such as apartment buildings and rental houses.
RE in general is considered to undergo two types of development.
- Horizontal Development
- Vertical Development
Horizontal development includes low raising buildings, larger area storage facilities, etc. These types of development don’t go more than three floors
Vertical development projects include high to medium raise to high raise buildings. Medium raise buildings include buildings with around 20 floors. All the sky scrapers falls under the high raise building category.
In Philippines, Vertical development projects are being currently undertaken in Manila, Visayas and Mindanao. Horizontal development projects are going on in Laguna, Cavite, Rizal, Bulacan, Pampanga and Batangas.
Management of property is the heart of a RE company and without it, no business could survive, especially on the enterprise level. According to Accruent, there are 5 main components of RE administration’s life process and these are market planning, site selection, project, lease administration and facilities control.
RE Management (REM) the means handling a property by operating it, controlling it and overseeing all the proceedings with respect to the property. Organization which does this REM has to take care of the property and accountable for all the happenings in the property. Any litigation with respect to the property has to be addressed by the REM organization. To establish this they need the process, procedures in place and manpower.
Three basic tasks that any REM involves are,
- Full evaluation of the applicant including his/her credits, criminal history and ability to satisfy the deal
- Preparation and execution of full legal procedure to establish the deal
- Revert back with the client in case of any litigation with respect to the property.
Common Problems of REM
The use of spreadsheets and paper-based transactions for recording and tracking RE transactions are the common ways of handling most tasks in operations. This leads to the possibility of inconsistent data and erroneous documents. The combination of these methods to the different divisions of the organization would lessen the efficiency of operations thus lowering the productivity of the overall business performance. The result will be the loss of revenue and profit.
Having all the documents in hard copy might allow the possibility of creating a duplicate documents for all properties and hence increases the litigation headache’s for the organization. All the court hearings which involves these property litigation takes a lot of time to arrive at judgement and hence results in huge loss for client and organization.
What is RE PMS?
A RE PMS is a type of property management system that handles the automation of most tasks in operations. The program is a direct solution towards the common problems of manual RE administration such as lost files and human error. An automated technology that greatly decreases processing and input times which maximizes productivity. Information is usually backed up several times in data centers and servers to ensure that important data is never completely lost. Locating the data needed is also much easier since it can easily be retrieved from the database using simple search functions.
There are many Re PMS commercially available. Most of these software uses cloud-based environment and hence are very reliable and very fast. This means rectifies the older hard copy based methodologies and avoids lot of confusion for the organization and their clients.
Jinisys started as a provider of PMS for the hospitality industry. Since RE is related to hospitality in some aspects, the company introduced products that deliver solutions for RE and condominium properties aimed to increase efficiency and productivity. Jinsys Software offers four software that handles property administration, the first is RE PMS, the second is condominium PMS, third is cemetery or entombment management software, and the fourth is a parking program. These systems greatly improve the productivity and efficiency of businesses by providing key features and functions needed in REMS such as amortization, commission payables, and lot status through desktop and web application.
Jinisys’ Provides softwares for many different types of business, which includes Hospitality, Communication, Point of sale, Healthcare management software, Inventory software, property management software, Tailor-made, Mobile applications and software application products. From the abundant product portfolio that Jinisys’ has we will be concentrating mainly on PMS which becomes key for organization which does proper administration.
Their REM module helps companies to keep track of properties, status of their occupancy and value of the them. This technology also provides a versatile tool to the company which helps them in easy handling of payments, sales and prices. It also tracks the commission payables for agents and receivables and with it manages the company amortizations.
The technologies provided by Jinisys’ is divided into two major parts.
- Web based
- Desktop applications
Web based application helps the company in monitoring the live status of the properties for agents. Desktop applications provide all the other major functions.
This technique provides graphical view of properties. Basically it tracks lots for land properties and units for condominium properties. Graphical view also provides color coding as per status of the property.
It helps in calculating prices and also projects the amortization values for the month. These things helps in faster decision making for the clients and company.
There are two types of viewers in the system. Property views helps in seeing status of the acquired properties. Slot viewer helps in getting empty slots in all properties. This is also connected with SAP and integrates inventory list for the organization.
Jinisys Software Company Profile
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