What are the Costs Associated with Outsourcing Property Management Assistant Roles

Outsourced Property Management

What are the Costs Associated with Outsourcing Property Management Assistant Roles

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Virtual Assistants (VAs) have helped many businesses in more ways than you can imagine. Essentially, their tasks are somewhat similar to in-house assistants’ tasks, except that they are being carried out without the need to be completed at the local office. Businesses, such as property management agencies, are embracing the new trend of outsourcing property management assistant roles. They are doing this not just to accomplish more tasks in less time, but also to upscale their business in no time.

For a start-up company, running a one-man team may be doable. But when your business is aiming for business growth, it will need a larger team to run the business seamlessly. Without a doubt, hiring an in-house property management assistant would cross your mind so you can delegate non-dollar productive tasks to let you focus on core operations that are dollar-productive. But who wouldn’t want to reach the top faster? This is how outsourcing property management virtual assistants became a real estate business game-changer. You’d be glad to know that there are tons of benefits of outsourcing property management virtual assistants offshore. However, we know you’d be wondering what costs are associated with outsourcing property management assistant roles.

Learn more about the property management jobs that can be outsourced.

#1: WILL I HAVE THE SAME SUPPORT FROM A VA THAT I GET FROM AN IN-HOUSE ASSISTANT?

Outsourced Property Management | Support VA and In-house assistant

The support you can get from an outsourced property management assistant may differ from that of an in-house property management assistant in some areas. Administrative tasks that can be performed in any location can be easily delegated to virtual assistants, no matter how far the distance and how different the time zones.

It’s a different story when the task at hand needs the presence of an assistant. Take routine inspections, for example. The paperwork could be easily accomplished once the relevant data has been supplied, but the on-site inspection would need an eye that is specialised in the area.

Be that as it may, the best part of hiring an outsourced property management assistant is that internal training can be done to keep upgrading their skills. And, your in-house employees can upgrade their skills as well, paving the way for property management business owners and property managers to look for well-thought solutions to upscale the business without having the need to blow up the business’ cash flow.

Read also: What sort of support will I get from Purple Powered VA?

#2: THE COMPARISON BETWEEN THE COST OF AN IN-HOUSE ASSISTANT AND A VA

Outsourced Property Management Assistant | Cost Comparison VA and In-house assistant

If we compare the cost of an in-house property management assistant and a property management virtual assistant, you’d be surprised by its significant difference. This has been one of the reasons why property management business owners couldn’t resist the idea of outsourcing property management assistants. Listed below is the sound comparison between an in-house property management assistant and an outsourced property management assistant offshore:

Tasks

When it comes to the task that can be carried out, there is not much difference between an in-house property management assistant and a property management virtual assistant. Generally, these tasks are non-dollar productive and critical to the real estate business. A VA’s capability and ability will only be limited when a task needs to be carried out on-site. Be that as it may, property management virtual assistants can be flexible and adapt to your time zone. They may undergo property management training much like an in-house property management assistant undergoes. 

Employment Cost

Hiring an in-house property management assistant would require a database that holds a pool of promising candidates that could fit the company’s task force requirements. Of course, no company would have a database in an instant. It would require a great amount of time, effort, and money to secure a strong database. After a long process of growing your database, you’d have to conduct several screening exams and interviews to choose the best candidate for the job–you know the drill. Headhunting may be done if the company’s standards are high or the real estate business is using a tool or software that is new to the market.

On the other hand, hiring an outsourced property management assistant offshore differs in a quite convenient way. Most offshore staffing solution companies, such as Purple Powered VA (ppVA), make sure that the candidates being presented are already underpinned by great systems according to your business needs. All you have to do is choose among the presented candidates that you’re happy with and you’re off to a good start with a VA on your side. You won’t have to worry about their equipment, government taxes, office space, and benefits. Let the offshore staffing solution company handle it for you at a reasonable cost that gives more than your money’s worth.

You may also want to read: 5 Things to know before outsourcing to a property management virtual assistant

However, if you want a property management virtual assistant that is tailored to your business, the Purple Powered VA can present you with three levels of VAs according to your preference and, most importantly, budget.

The following levels of property management virtual assistants that the ppVA offers are:

1. Entry Level – Has previous relevant administrative experience and skills that are transferable to property management administration

2. Mid Level – Has previous property management or real estate administrative experience of at least 6 months

3. High Level – Has previous property management or real estate administrative experience of at least 2 years.

To learn more about the levels of Purple Powered VA and the best fit for your business, book a free demo.

Salary

When property management business owners found out about the significant difference in the salary of an outsourced property management assistant compared to an in-house property management assistant,  they would hire a team of property management virtual assistants almost instantly. Considering an outsourced property management assistant’s salary is just one-third of the cost of an in-house property management assistant, who could resist? Imagine the significant amount you could save and how you could use that money on other resources, perhaps to improve your company’s business model.

Having the urge to hire a whole team of property management virtual assistants can be quite so strong, knowing how much you could significantly save in employment costs. However, we recommend that you familiarise yourself first and know the essentials before outsourcing to a property management virtual assistant.

#3: HOW LONG WILL IT TAKE TO SECURE A VA

Outsourced Property Management |

Hiring a property management virtual assistant is not as complicated as you might think. In fact, real estate business owners can employ an outsourced property management assistant in three simple steps:

1. Choose to hire a Purple Powered VA

Once you’ve opted to hire your property management virtual assistant, or what we call a ‘Purple Powered VA’, you will then be sent a service agreement that you’ve appointed Purple Powered VA as your offshore staffing solution.

2. Select your ppVA

Before selecting your very own ppVA, you must fill out the ppVA Task Selection and Sub-Task Allocation form to be able to find a suitable candidate for you. Screenings and interviews will be conducted, so you can choose the right VA for your business.

3. The VA starts working for you

Once you have selected a suitable candidate, the VA will start working for your business on a suitable schedule that suits your business operation and your time zone.

#4: THE VA TRAINING

In the property management industry, time is always of the essence; time is money. Some property managers have tried hiring a VA with no prior experience in the industry and failed miserably because of the lack of process and systems in place.

At ppVA, the candidates will only be presented to a client once they have finished the ireviloution Intelligence International Property Management Academy training (iiIPMA). iiIPMA is the practical training where you can choose various courses from operational, leadership, and business courses. This online training is available 24/7 with unlimited access to the resources and it’s not only perfect for VAs but also for those in the property management industry who want to advance their career.

Even if a property management virtual assistant is an entry-level VA or a high-level VA, they will have to undergo the iiIPMA training to get a better understanding of the business. Moreover, VAs can also be internally trained, so they are tailored to your business needs. But always keep in mind that not all tasks can be delegated to the property management virtual assistant simply because some tasks can only be carried out by a licensed real estate agent.

For a more detailed understanding of the tasks that cannot be carried out by a VA, read: Will my Purple Powered VA understand our legislation?

Outsourcing your property management virtual assistant to countries like the Philippines has been a game-changer in the property management industry. What’s more, it could help the business save up to 70% employment costs, increase the opportunity to upscale the business, and increase the business’ bottom line. If you wish to learn more about what you’re getting when you hire a Purple Powered VA,  book a free demo today.

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