REVIEW OF RELATED LITERATURE

This chapter contains the review of related literature of the proposed system which also
consists of related studies. For further understanding of the study, the researchers made use of
the different reading materials related to the proposed system. The materials are books, thesis,
and other related website articles in addition to the knowledge of the researchers. These also
guided the researchers to achieve the target objectives by getting ideas on other similar studies
and make improvements as possible.

Related Literature

According to Scarrett (1995) “Property Management system seeks to advice the

establishment of an appropriate framework within which to oversee property holdings to achieve
the agreed short and long-term objectives of the estate owner and particularly to have regard to
the purpose for which the estate is held. The basic needs will be to carry out such tasks as
negotiating lettings on suitable terms; initiating and negotiating rent reviews and lease renewals,
overseeing physical maintenance and the enforcement of lease covenants (Michael, 2003).

Successful property management system is a demanding activity which requires

relevant understanding, ability and appropriate technical and organizational skills as well as
resources to successfully maintain and improve property value through to its obsolescence
(Huang, 2000). Property assets, which include land and buildings, are a key resource for all
types of organizations, including local authorities and central governments. In the same way as
other resources - human, financial and information - contribute to the success of these
organizations, and so does the property resource. (Rhodes, 2008).

These activities will take place within an agreed strategic framework where there is a
need to be mindful of the necessity of upgrading and merging interests where possible,
recognizing other opportunities for the development of potential and fulfilling the owner’s legal
and social duties to the community” (James and Donald 2000). Not only is a large amount of
capital devoted to these assets, they can also add value to an organization through effective
and often creative management.

Two of the major criticisms of inadequate management practices are the lack of a
strategic approach to property management and the limited recognition of the value of these
assets by property users and operational decision makers, resulting in potential asset becoming
a major liability (Huang, 2000). But many organizations, internally and externally, have
responded to the challenges and introduced a number of measures in order to improve their
management practices related to operational property.