Importance Of Hiring A Property Management Virtual Assistant

Benefits Of Hiring A Property Management Virtual Assistant Through BPOs?

Save Massive Labor Costs

Companies invest in outsourcing because of reduced labor costs. According to an article from Derek Gallimore of Outsource Accelerator, clients can expect to save 70-90% in wage payouts.

If you try to find freelancers on job boards such as Upwork, you’d get tons of virtual assistants ready to work for you. However, their hourly rate moves with the global market. So, if the hourly rate of good freelance VAs goes high, so does the rest.

But, you can always go for VAs with lower hourly rates. Unfortunately, the saying “you get what you pay for” rings true for this instance.

Meanwhile, outsourcing to a BPO company means that you don’t have to compete with the global market. For example, the Philippines has its own minimum wage. Thus, companies around them compete only within the BPO industry so the rates don’t fluctuate that heavily.

Additionally, depending on the location of the company, say a province vs the city, the rate also differs. With this, you can be sure that you’re getting services specifically catered to your needs.

Effectively Delegate Tasks

A good leader leads by example – a better leader knows how to effectively delegate tasks.

It’s understandable that you want to be hands-on when it comes to your business, especially if it’s one that you grew from the ground up. However, scaling your business means going away from doing the work to managing the work.

Aside from saving labor costs, optimizing your organization’s business flow is one of the most important benefits of hiring a PMVA. As discussed earlier, effectively delegating repetitive tasks such as data entry, or bookkeeping lets you focus on generating income for your business.

There are several tasks a PMVA can do for you. If you want to learn more about these tasks, check out our in-depth guide on the tasks you delegate to your virtual assistants.

The key thing to note here is that delegating tasks can give you free time – a commodity more scarce than silver and gold. As such, you need to have a good grasp of how much your time is worth.

Hiring Property Management Virtual Assistants Give You A Competitive Advantage

Imagine yourself busy as a bee trying to juggle everything related to your business. Because you were out of the office to meet clients – you failed to answer three important phone calls. All of which, were potentially new clients.

So, you try to call them back – but it was way too late. Another business already had them booked. Even though you met a client today, you almost bagged three other clients – talk about opportunity cost!

But, in that situation, a virtual assistant covering for phone and email customer service, you could’ve probably booked a session with them and gotten value out of the lead.

According to Hubspot, customer retention is more cost-effective than customer acquisition. Hubspot explains that increasing customer retention by just 5% can equal a profit increase of 25%.

Because you decided to hire a virtual assistant for your property management business that helps with customer service, you open up several revenue streams. The article also says that customers are likely to spend 300% more time talking with you if you have good CSR – giving you an edge over the competition.

Immediate Labor Pool Availability

If you’re looking into outsourcing to the Philippines, then you should know that the majority of the workforce is of a younger generation. In one of our articles, we discussed how a large percentage of the population are fresh graduates ready for work.

This makes the Philippines an ideal place for outsourcing a range of industries – including property management. Finding workers to fit the needed job description is easy as Filipinos are always eager to learn more and are prepared to pursue career opportunities within the BPO industry.

More importantly, BPO companies in the Philippines such as Global Strategic continue to develop excellent property management virtual assistants. Those with no experience can easily grasp and understand the workflow. This is also thanks to training from the industry’s top professionals – something that you can’t get with beginner-level freelance virtual assistants.

If you’re looking into hiring a virtual assistant, you don’t have to go through the extra work of finding specific VAs to fit specific business needs. With the help of a BPO company, you can easily find somebody that already has the experience that specifically caters to your needs.

Provide Risk Management

High personnel turnover can create uncertainty and instability in a company. Outsourcing ensures the company’s continuity while lowering the possibility of a substandard level of operation, even if just for a short period of time.

Your HR manager, for example, is on sabbatical and her administrative assistant is leaving for a new position. Outsourcing the human resource function lowers risk and allows the business to continue running even if the manager is unavailable. It also allows you to hire a new assistant without having to make a hasty decision because the office is short-staffed.

This also extends to choosing the right virtual assistant for your business. Just going through online freelancing platforms such as Upwork and OnlineJobs, you can see thousands of freelancers ready to work.

However, choosing the right one can definitely be a hit-or-miss situation. But, with the help of a BPO company, you are ensured to be with a reputable partner already equipped with experience – thus mitigating risks.