Why Outsourcing is Beneficial for Property Managers
Outsourcing has become a common practice in most industries. It could be marketing, sales and/or operations, we are seeing an increase in businesses starting to outsource some of these tasks for a lot of reasons. Outsourcing is a practice in which an individual or company performs tasks, provides services or manufactures products for another company. All are functions that could have been or is usually completed in-house. As for the real estate industry, Property Managers are seeing the benefit in outsourcing their property reports and other administrative tasks.
As a Property Manager, we are responsible in managing many types of properties. Furnished, Unfurnished, Brand new, partly falling over?… We are identifying and anticipating possible problems related to the properties (we need to be able to read into the future remember!).
We need to ensure properties are well kept (since well managed properties have higher resale values of course!) and are in somewhat, the same state as they were when the tenant leaves at the end of the tenancy (but it was cleaner then when I moved in!…), collect rents, sign leases, renovate properties,
I know… The list goes on, these are just a small snap shot of responsibilities faced by Property Managers. It is a 100% customer service oriented nature of business which is one of the reasons why more and more Property Managers are starting to outsource some of their out of office work. They start to delegate (or outsource) and stop neglecting the important (and yet simple) customer service tasks at hand.
Here are other reasons why outsourcing is beneficial for property managers:
1. Increase work efficiency
Real estate is a very competitive industry wherein fast delivery of requirements to prospective tenants is needed so that they can decide if they like the property that a property manager offers. Outsourcing property reports or home opens is very beneficial to a property manager so they can meet the needs of the clients immediately, thus, increasing efficiency. Quick leasing turn around – Happy Owners!
2. Property Managers can focus on their core business
As mentioned, a property manager’s role is very service oriented which includes providing a highly personalised service to varying clients (much like our business really!). The better service they provide, the more likely they can get more business, as word about their great service might spread to others.
Providing a great service to client – It’s no secret that this needs to be the core of a Property Manager.
Property managers can outsource tasks that don’t require any face to face service directly with their clients, particularly with routine inspections, if the report is thorough the Property Manager should feel as though they have been to the property themselves when reading the completed report. Property managers benefit in outsourcing property reports to experts so they don’t need to rush and skim through properties with limited time. They can focus on how they can provide the next best service to their client.
3. Further build credibility
Through outsourcing to experts, the output that is provided by the outsourcing company contributes to the credibility of the Property Manager. Property reports, Routine Inspections, Property Condition Reports, Home Opens, etc are to be of quality and 100% accurate when you are paying for the work to be outsourced.
Outsourcing has proven to make the daily working lives of Property Managers a lot easier. Property managers can easily reap the benefits of all of the above if they outsource especially to an outsourcing company that has acquired many years experience in doing the job hands on. A company that does this best is Property Assist. Property Assist is owned and founded by Shannon who has been in the industry since 2007 with experience in Property Management, Business Development and all areas of Rental Administration.
