Property Management Outsourcing | Seven Advantages
Running a successful property management company or real estate business with a property management division can be incredibly challenging. Rental property owners want their rental properties professionally managed. Such an expectation is not an unreasonable request. Or, is it? Rental property owners frequently complain about the poor standards delivered by property managers they engage to manage their valuable assets. And, as a result, frustration often creeps in. Without a doubt, there is a requirement for property managers to be more client-focused, rather than bogged down with remedial and repetitive administrative tasks. Property managers must deliver on the service promised when rental property owners engage their services.
The onus is on property managers to deliver professional services to rental property owners, which requires greater interaction. So, how can property managers release their00 administrative duties that take them away from their real job- to provide a professional property management service? The answer is simple: outsource property management tasks that do not require direct client interaction. In other words, invest in a virtual assistant to complete the administrative tasks and allow the property manager to focus on the client and deliver on the promise.
Here are seven advantages for a business when outsourcing property management to free up property managers from routine administrative tasks:
#1. Minimal human relations issues
From recruitment to dismissal, managing the constant human relations issues involved with employing a team can be difficult. Using a reputable outsourcing agency, such as Shore Agents, means that the property management company does not have to carry out recruitment activities when employing a new team member. It takes many hours to write a great job advertisement, handle job applications, and shortlist and interview suitable applicants only to find that the person you select has already taken a job with a different company. Remove the time, effort, and cost of doing your own recruitment and choose purple powered Virtual Assistant (ppVA) as your go-to agency to outsource property management administrative duties.
Perhaps the next most time-consuming part of employing new team members is the extensive onboarding process. Admittedly, there are many stories about new employees who do not receive timely and appropriate orientation or, in some cases, no orientation at all. So, when and who should onboard new team members? That’s easy when you outsource with ppVA. The orientation is done in conjunction with ppVA to ensure the right steps are completed and the virtual assistant can hit the ground running.
Remember, when you use the services of ppVA, you will not get bogged down in human relations matters such as tracking sick leave or holiday leave. In other words, the respective outsourcing agency can manage all the human relations matters related to the virtual assistant.
#2. Cost-effective for the business
Without a doubt, most real estate companies that outsource property management do so for the financial benefit. Huge savings can be achieved because a virtual assistant’s salary is far less, and it also allows other in-office team members to focus on income-producing tasks.
The other financial benefit is not having to house the virtual assistant in-office. A virtual assistant does not require additional office space. So, as your property management division grows, your office space doesn’t need to, which means you save on not paying rent for additional office space. A similar benefit is evident in relation to equipment, such as computers, monitors, desks and chairs. All these costly items are supplied to the virtual assistant by the outsourcing agency, and there is no more to pay when the ppVA starts working for you.
Associated on-costs, such as superannuation contributions, are another part of the ever-increasing cost of having in-office staff. When a ppVA is part of your property management team, you will not have to pay any additional payroll taxes or superannuation costs for them. This is a huge saving and advantage for the property management business.
#3. Less in-office disruptions
Most property management offices are a hive of busyness. There are non-stop phone calls and property managers speaking to each other about various matters. Such constant noise and unstructured interaction amongst the team can have a big impact on the business’ performance. All the chatter that occurs in the office reduces the ability of the team to perform efficiently and effectively. Often, teams are seen standing around and talking about everything except work. Such behaviour is disruptive to the workplace. In most cases, the more team you have in the office, the more disruptions you experience. Unfortunately, within such environments, gossip about team members or clients can occur and be destructive.
What’s more, when team members constantly ask questions to or over each other, work performance is naturally interrupted. The fact that the virtual assistant is not present, so they do not get involved in the in-office disruptions, means they can focus on their assigned work. Greater efficiency translates into more properties and clients being managed by the same or, in some cases, by a smaller team. Outsource with ppVA and enjoy the advantages of reduced in-office disruptions and increased productivity.
#4. Allocation of tasks to the right team member
This next advantage is obvious but often overlooked. Generally, tasks can be categorised into two types. ireviloution categorises tasks as ‘dollar-producing’ or ‘non-dollar-producing’. Property management businesses need to be primarily focused on tasks that produce income and grow the business asset. Accordingly, property managers need to be more engaged in client-focused tasks. It is critical to build professional business relations that strengthen client loyalty.
Outsourcing non-dollar-productive property management tasks, such as routine administrative tasks, means there is more time for property managers to concentrate on clients. As a result, the business can allocate routine or administrative tasks to support staff, such as a purple powered Virtual Assistant, to free up property managers so they can focus on the more important role of managing clients.
#5. Quality training
Quality training creates good staff. Training your team is an essential element in a successful business. However, training staff takes time and can be costly. When you outsource a virtual assistant, the last thing you’ll want to do is train them as well. This is where a ppVA is different from other virtual assistants. When you engage the services of a ppVA, they come fully trained. Each ppVA undertakes and successfully completes 28 courses covering the ‘how’ and ‘why’ of property management.
They learn how to do the do.
Obviously, onboarding the virtual assistant into your business still needs to take place. However, the onboarding process is done hand in hand with Jo Oliveri, an industry award-winning Coach of the Year. Together, we ensure that the ppVA has a sound appreciation of what is expected of them and what they need to do. Expectations are set, and the ppVA is set to go!
The ppVA also receives ongoing training and mentoring. Training should never be seen as a once-off. It must be continuous, and that is what happens with a ppVA. The advantage is that you get a virtual assistant who has been trained by the best in the industry and supported by an award-winning ‘Coach of the Year’.
#6. Minimal supervision
An employee who can work with no or minimal supervision learns to become independent and reliable. As a result, they do not need to be constantly guided and reminded about tasks they need to complete. When a team member works autonomously, it increases their job satisfaction and can often lead to more self-confidence as they take more responsibility for what they do. Minimal supervision also means that the designated supervisor is not consumed with constantly overseeing the employee. The supervisor can get on with their work without having to continually check on the VA.
From experience, once expectations are set, the ppVA puts their head down and gets on with it. They are highly productive. Although some supervision is still required, it is not all-consuming as can be the case with the in-office team. Other businesses that utilise ppVAs have found them to only require minimal supervision. But, please, check in on them. The ppVA wants to be held accountable. When the ppVA has clear objectives, are held accountable, and are included as a team member, loyalty naturally follows. ppVAs are there for the long term and very productive. That’s why, a ppVA is an advantage to any business.
#7. Comes with a great attitude
Every team member needs to have a great attitude because it affects both theirs and others’ behaviour. Having a great attitude is contiguous and leads to a strong business. One person’s attitude can directly impact other team members in the business.
The ppVA’s attitude can positively impact their productivity, which is why so much effort is put into finding not only talented virtual assistants but those with a great attitude. We believe that having a positive attitude at work can improve the overall performance of the team, including the in-office team. Hiring a talented ppVA with a great attitude is another substantial advantage for the business.
There are many significant advantages for a property management business or real estate company with a property management division that outsources property management with a purple powered VA. The outsourcing agency seeks out and selects talented virtual assistants with the right attitude. In addition, the virtual assistants receive quality training and mentoring, which provides additional advantages to the business. So, why not outsource and engage a ppVA to get these advantages for your company, too?