The value of outsourcing your PM department

If you’re a real estate principal, then I’m sure your agency is taking a hit from the current economic conditions. It’s during these uncertain times that you need to provide your PM department with an additional layer of support to allow them to focus on the increased volumes of work that come with a situation like this - in order for you to maintain the value of your rent roll.

Outsourcing is an increasingly common resourcing strategy implemented by many real estate agencies to help improve service to landlords and tenants. As an added bonus, it will also free up your property management team to focus on growing and nurturing your rent roll. It’s a cost saving alternative that can add value to your agency in many different ways.

Here are three ways outsourcing can add value to your PM department.

1. Outsourcing is cost effective
   

   Outsourcing elements of your PM department can help you cut and control your overheads. The money saved hiring offshore assistance can be used to reinvest back into propping other areas of your agency that are feeling the pain of this economic downturn.

2. Outsourcing increases efficiency and job satisfaction
   

   Outsourcing the back office, process driven tasks will allow your existing team to focus on the high value, revenue generating tasks that are crucial for your bottom line. With the combination of both onshore and offshore employees, the efficiency of your agency will be dramatically improved.

3. Outsourcing can help you grow your rent roll
   

   Hiring an offshore property management assistant can not only increase efficiency and staff satisfaction, but it also gives your local team more face time with tenants and landlords, allowing them to nurture relationships and identify rent roll growth opportunities.

Want to know what the future holds for property managers?

For insight into how property management will evolve once we are through this rocky patch, check out this blog.