Best Practices for Effective Property Management

Property Management Organizations (PMOs) can generally break down their responsibilities into the following categories: asset acquisition, asset identification, records, physical inventory, utilization and asset moves, reports, maintenance, and self-assessments.

Not surprisingly these responsibilities mirror the life-cycle of an asset. Accordingly, it is necessary to develop a set of inventory management best practices, which will serve to streamline the asset management process, helping to maximize the value of each organization’s resources.

Absorbing these best practices into your current workflow will help your organization to achieve total asset visibility, or, the complete accountability and control over your organization’s most vital assets.  Total asset visibility means being able to harness real-time asset data to make informed decisions and implies an awareness and understanding of what your organization has and how you plan to use it.

Read the full article here and learn how to implement these industry proven best practices into your organization’s current workflow.

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