Oracle Property Manager – Introduction – Overview
By Vaishali -Oracle on Oct 19, 2015
IntroductionOracle Property Manager is part of the Oracle Real Estate Management solution. It is designed as a property database for organizations with large property management portfolios. It provides you with tools to manage real estate tasks, such as property administration, space allocation, and most importantly, lease management. Landlords as well as tenants can use Oracle Property Manager to manage lease clause information and critical real estate dates and milestones for property leases and space administration. This dual perspective enables Oracle Property Manager to address the needs of corporate real estate management, commercial property management, retail or franchise operations, and investment real estate companies to manage their real estate portfolios efficiently.
This module is widely used by real estate companies owning/leasing buildings and/or land, mall administration companies leasing retail space and any other company that rents buildings or space to a third party.
Lease Management / AdministrationLease Management is the center of real estate management function. With Oracle Property Manager you can amend, edit and track your lease information's, calculating lease amounts, scheduling payments / receipts, exporting invoices to Oracle Payables and Oracle Receivables, setting up milestones etc.
In addition to that we can also automate the process of rent increases based on fixed percentages or specific indexes such as the Consumer Price Index (CPI). We can also calculate rent rent based on variable factors such as sales volumes. This module can be effectively used for collecting common area maintenance (CAM) expenses also.
Space ManagementThe Oracle Property Manager module has an inbuilt hierarchy starting at the top by grouping properties within regions and office parks. You can define / track details like regions and office parks, building, floors and offices etc. It also helps to ensure that each employee or customer is assigned with appropriate space and it also helps to ensure that all available space is assigned in the most effective manner possible.
We can also track space usage at any level by employee, cost center or both. Managing space efficiently enables landlords to keep occupancy rates high to ensure proper return on investment.
IntegrationOracle Property Manager integrates with Oracle applications such as Payables, Receivables, General ledger, Human resources etc. This helps to use Oracle Property Manager records as the source of payments and billings.
ReportingOracle Property Manager provides a set online inquiry windows and standard reports for reporting purpose. Using online inquiry window we can easily access information such as lease amends and edits, payment and billing information as well as rentable, usable, and vacant area etc.
In addition to that there are many standard reports which will help to review rent schedules, lease provisions, rent schedules, space allocation and utilization.
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