Owning real estate is a good investment. The more properties there are, the more passive income you generate. But managing properties isn't easy because each property has different needs and demands. Even if there’s just one property to manage, taking on general management tasks could still be challenging. For situations like these, outsourcing property management makes sense.

What does outsourcing property management services mean?

In property management, everything revolves around the flow. The process begins with onboarding new landlords, then moves on to advertising, prospecting tenants, leasing properties, conducting inspections, handling repairs, and finally, lease renewals, vacating properties, and relisting properties. Although the property management process is relatively straightforward, it is time-consuming and requires checking off many boxes.

With property management services outsourced, you hire experienced and skilled virtual assistants (VAs) who can assist with every step of the process. Dedicated team members will enhance the efficiency of your operations by cutting down the amount of time and paperwork involved. As virtual property management assistants, these professionals can help you with the daily demands and intricacies of property management. They can enhance productivity and efficiency by handling non-core tasks. This way, you can focus your attention on sales, relationship development, and growing your business.

What do property management VAs do?

Property management VAs can do almost all non-core tasks related to property management. These are routine administrative tasks that do not require the use of the local office. Experienced VAs are also familiar with using various property management systems and software to meet the company's business model.

Here are ways a VA can help support property managers with daily operations:

• Accounting and Consulting  
    Property management VAs that do accounting and consulting tasks record all transactions in the project management system like entering invoices, paying bills, reviewing owner statements and ledgers, security deposit dispositions, and resident move-outs. Other tasks include keeping corporate books, performing owner payments, reconciling corporate accounts, and creating financial reports.
• Admin Support  
    VAs can help provide admin support, which includes entering data into the property management system and all other information for a property and owner entity. Admin support also involves answering incoming calls and performing follow-up calls, maintaining company databases and documents, sending emails and feedback requests, creating event invites for meetings, and handling calendar management.
• Customer Service  
    Virtual property management assistants serve as the “face” of the company. As call center representatives, they handle all inbound calls related to leasing, resident services, owner services, maintenance, and other services that the real estate or property management company provides.
• Operations  
    Operations tasks include assisting property managers with work orders, invoice review, application processing, and move-ins. VAs can also handle communications with residents, partners, and owners, gather data, and help with the overall success of the portfolio.
• Sales and Marketing  
    For sales and marketing, outsourced property management tasks include social media management, outbound calls to prospects, CRM database management, sales campaigns, business development tasks, and more.

Other non-revenue-producing property management tasks like processing prospective tenant applications or new tenancies, scheduling property viewings, arranging and documenting inspections, condition reports, and rent reviews that can be done outside the local office or remotely are also among the tasks property management VAs do.

Why outsource property management services?

The decision to outsource property management services depends on how property managers and owners handle the business' growth. Some property managers hire their own staff to manage operations. Others outsource their property management services to outsourcing firms, which has become the more popular option because of its benefits.

1. Reduces cost and boosts the bottom line  
      Outsourcing property management services is cost-effective. Hiring offshore property management assistants lowers overhead expenses, including office space, equipment, maintenance, wages, and taxes.
2. Gives access to world-class talent  
      Outsourcing gives you access to highly skilled and experienced talent pre-screened by offshore staffing solutions. You can handpick whom you feel is a good fit for your company. Seasoned virtual property management assistants are versatile enough to match your company’s needs and processes. Additionally, they can adapt quickly to your time zone and perform tasks right when you need them.
3. Helps you focus on your core business  
      You can delegate all non-revenue-producing activities to property management virtual assistants, giving you more time to focus on core operations and look for opportunities to boost your bottom line. You can also use and train your local staff to work on more critical and time-consuming projects.
4. Streamlines operations  
      By hiring virtual property management assistants with elite property management expertise, you can streamline operations and maximize efficiency. Under their watch, no emails will be left unanswered, no bills unpaid, no phone calls unattended, no meetings overlooked, and no tasks forgotten.

With a virtual property management assistant on your side, you can turn your property management into a well-oiled machine. Outsource all non-core tasks so you can focus on sales, relationship development, and expanding your company.

Choose the Right Outsourcing Partner

Effective property management is crucial for real estate investing because it directly affects returns on investment and tenant attraction and retention. By partnering with a reliable business partner like eFlexervices, you ensure a streamlined property management process.

With over two decades of experience, eFlexervices can turn your property management into a well-oiled machine with high-performing professionals that will help you save time and resources.