Although property and building are words used synonymously, are property management and building management systems the same? While they may, at first instance, be regarded to have similar features, it is a common mistake for them to have the same functions. A property management system is often used in real estate by property managers to monitor rent and lease agreements and essentially automates all documenting and recording requirements of the managers. A building management system, which may be referred to as a building automation system, explicitly focuses on monitoring and assessing the health conditions of a commercial building. It specifically considers the subsystems in the building, thereby monitoring the temperature, ventilation, power and other requirements. This article will discuss the differences between property management and building management systems.
Do They Have A Common Ground?
Although property management is now regarded as a part of real estate, for the longest time, it has been used by hotels. Hence, when a hotel uses a property management system, it becomes a hotel property management system. It is used to carry out front desk operations, recording all reservations, occupancy management, rate management, and various internal and external processes.
A building management system is also exclusively associated with the management of hotels. It monitored the mechanical and electrical equipment of the hotel and consistently tracked the critical infrastructures in the property in real time. While a property management system is vital to manage a hotel, a building management system is not regarded with the same level of importance. However, those that did implement it had the advantage of efficiently monitoring the health conditions inside the hotel. This is especially true if the hotel is part of a chain corporation or has an energy production system. Implementing a building management system in this regard helps hoteliers to gain control of their energy consumption.
Both of these systems also significantly reduce time and save overall finances. It does this mainly by automating processes. While a property management system automates processes related to documentation and tracking orders, billing and other aspects, a building management system automates energy detection, maintenance orders and further related details.
Therefore, two significant common standards in both systems are that they are first, more famously associated with hotel management, almost regarded as sub-components. Secondly, their primary role is to automate processes.
How different are They?
Traditional property and building management systems were completely distinct from each other. In other words, the functions typically carried out by one system were not present in the other. This meant, at a specific point in time, managers had to invest in not one but two systems to keep records of everything related to the tenant and monitor the asset conditions and the safety of the property itself.
Do They Detect Your Energy Consumption?
Did you know that a building management system controls around 40 per cent of the total building energy? However, the improper configuration of the building management system results in only 20 per cent control. This helps property managers to be aware of carbon emissions released from the building and take steps to reduce them. It also helps the system to react to emergencies such as security breaches and fire alarms. Some managers implement an energy management system to detect energy levels at a micro level better. A property management system, unfortunately, is not able to collect data related to energy levels.
Whose Comfort Comes First?
In a building management system, the tenant’s comfort is put forward. Since the core purpose of such a system is to ensure that tenants live in a healthy environment, a building management system prioritises the safety of its occupants. In contrast, a property management system puts the property manager’s needs first. In other words, it is regarded as a system to help property managers to streamline their back-end operations. The need to automate and integrate all departments in the property management company into one central platform demonstrates that it is the property manager’s needs that the system caters towards.
Who Makes The First Move?
In a building management system, where there is an issue with HVAC (Heating, Ventilation, and AirConditioning), a warning message is dispatched to the property manager. Sometimes a building management system may infuse predictive capabilities to notify managers of impending risks that can be prevented. After that, the manager schedules maintenance or repairs to be carried out as soon as possible. In this process, the tenant did not have to take any action. The tenant may not be aware of any adverse effects occurring in its surroundings until maintenance is scheduled. Hence, the property manager makes the first move in a building management system.
Such detecting methods may not be carried out in a property management system. Most of the time, because a property management system cannot see the life cycle of its assets, it will only notice the asset’s condition when it is apparent. The tenant may first witness these signs. Hence, while there may be situations where the property manager can fix the issue without the intervention of tenants, most of the time, the tenant will inform the property manager that there is an issue with a particular asset. Thus, in this type of system, the tenant makes the first move.
Enjoy The Best Of Both Worlds With One Solution
While a property and building management system may have been entirely different at one point, digital solutions vendors like Tigernix have transformed it into one. With its advanced data analytical capabilities, Tigernix can integrate the features of a building management system into its property management solution. Hence, receive instant warnings when HVAC metres are off and require urgent attention. Enjoy all this and more with one-of-a-kind property management software.
