Table of Contents:

Sectors
Outsourcing Property Management Services

Outsourcing Services for Property Managers & Property Management Companies

Property Management Services

Interested to try outsourcing services? This article is specifically written for property managers and property management companies to learn about the following:

  • Advantages of outsourcing in the property management business
  • Expert tips on back-office tasks that property managers can outsource: Pre-listing, Listing, and In-Tenancy
  • Necessary tasks for outsourcing and its process
  • Cost savings from outsourcing back-office operations
Property Management Services

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Discover the process of real estate bookkeeping and find out how you can hire top-notch bookkeepers from the Philippines. Explore our real estate bookkeeping services in this article for more information.
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What are the Outsourcing Services for Property Managers and Property Management Companies?

virtual assistant smiling

With property management services outsourced, property management companies can tap into the expertise and specialized knowledge of virtual assistants. This results in a cost-effective solution with access to advanced technology and enhance productivity.

Outsourcing certain tasks such as maintenance coordination and tenant inquiries can help property managers focus on income-generating tasks. They can prioritize sales, client relationships, and business expansion.

It is a known fact that property managers can generate more income by handling hundreds or even thousands of properties. And while that sounds rewarding, time-consuming tasks are expected to pile up as the business grows. This explains why property managers and property management companies are seeking to outsource various aspects of their operations.

By having a dedicated team of professionals, they can significantly improve the operations’ efficiency by reducing time and paperwork. These team members, serving as virtual property management assistants, are skilled in handling the complexities of property management. Their support will result in increased proficiency as they take care of non-core tasks.

KEY TAKEAWAYS

  • Property managers and property management companies outsource diverse functions in their operations to increase efficiency and productivity.

 

  • There are several back-office tasks that can be outsourced to optimize the property management processes. This includes but is not limited to, property bookkeeping, marketing campaigns, and administrative support.

 

  • Outsourcing back-office operations can help business owners to save approximately 70% cost savings. In comparison to hiring locally, you will need to consider increased labor expenses and other overhead costs.

What Back-office Tasks Can Property Managers Outsource?

In general, property management companies outsource various repetitive administrative tasks to streamline their operations. Depending on the company’s specific needs and goals, they can outsource several functions.

For instance, they may hire a customer service representative for tenant/landlord support or a property management accountant to collect rent.

Your outsourced staff with ShoreAgents can help with the following back-end administration part of this process:

List of Outsourcing Back Office Tasks for Property Managers & Property Management Companies Cover

Discover the Back-Office Tasks that You Can Outsource

The pre-listing phase plays a crucial role in setting the stage for a successful property management business. This phase encompasses various essential tasks that property managers undertake to secure new properties under their management. Some of the pre-listing tasks involve the following:

  1. Lead Generation - this is vital as property managers actively seek potential rental properties for management.
  2. Market Research - property managers analyze the local real estate market and gather insights through market research. This helps them determine the competitive landscape. At the same time, rental rates and potential demand for specific property types.
  3. Approaching Landlords - property managers proactively communicate and build relationships with landlords. They will reach out to landlords who may have properties that could benefit from property management services.
  4. Property Assessments - this process is important for property managers to provide accurate information to landlords and set realistic expectations. It also involves evaluating the property's condition and identifying potential property maintenance.
  5. Presenting Management Proposals - this task involves outlining comprehensive management plans and services tailored to the specific property. It includes marketing plans, tenant screening processes, and financial reporting among others.

The pre-listing phase also involves tasks such as going through terms and conditions and signing the management agreement document. Afterward, the property management phase begins. This is where property managers take over the day-to-day management tasks to ensure overall property performance and success.

The listing phase is where property managers prepare and showcase a property for rent. During this phase, a series of tasks are undertaken to ensure a smooth and successful rental process. Here are the tasks that you can outsource in the listing process:

  1. Determine Property Rent - setting an appropriate rental price varies according to the location, property size, and current market conditions. Property managers will have to conduct market research in order to maximize the return on investment.
  2. Organize Photos and Marketing Materials - appealing photos that highlight the property's features will certainly attract potential tenants. It will also involve writing detailed property descriptions and featuring the property's unique selling points if there are any.
  3. Advertise the Property - Advertising is important in order to reach a wide audience of prospective tenants. This is where property managers use social media and other platforms to promote the property. They will post the listings on the agency's website, real estate websites, and various social media channels. The advertisement includes the schedule of the open house, the soonest availability for the property, and the rent required. In addition to this, photos and a description of the properties are also included.
  4. Respond to Inquiries - once the property is listed everywhere, there will be several inquiries from interested tenants. Addressing their questions and scheduling property inspections or open houses will allow them to view the property.
  5. Receiving tenancy applications from prospective tenants - This process involves reviewing the applications & conducting background checks to assess the applicant's profile. Your offshore team member can review the applicants' cost-effectiveness ratio and contact their previous tenancies. This way, they can check if they have maintained their previous rental in exemplary condition. At the same time, identify if they have been diligent in paying their rent on time.
  6. Approving a tenant for the property - the property manager will approve tenants on behalf of the landlord. This will be based on the results of the reference and affordability checks.
  7. Organizing reservation fees and bond lodgement - collecting the funds from the tenant and securing the rental bond as per local regulations.
  8. Lease preparation - this is a crucial task involving the property managers who will draft and review the lease agreement. The document will ensure that all legal requirements and terms are reflected. Your offshore team can prepare the Tenancy Agreement on your behalf. They will also make sure to input all tenant details in your real estate management software before the move-in date.
  9. Incoming inspection & preparing incoming condition report - Prior to tenant move-in, an incoming inspection will be conducted. Property managers will prepare an incoming condition report and note any existing damages or issues.
  10. Saving all tenant files into the system - for organizing the records, all important files will be stored for easy access.
The Build a Team Service Guide: Time to Scale!
The Build a Team Service Guide

This phase involves consistent communication with tenants and handling repairs and maintenance. Effective tenant communication is essential throughout the tenancy period. This is so that property managers can promptly address any concerns raised by tenants. Check out the tasks that you can outsource during the in-tenancy process:

  1. Arrears Management - this involves payment reminders and formal notices. This includes monitoring rent payments and taking action to address arrears.
  2. Maintenance and repairs - to ensure that the property remains in good condition, property managers respond to maintenance requests from tenants.
  3. Periodic Inspections - to assess the property's condition during the tenancy, periodic inspections are conducted.
  4. Lease renewals - property managers communicate with tenants to discuss lease renewal options. This will ensure a seamless transition from one tenancy term to another.
  5. Rent Reviews - these are conducted to assess and adjust the rental price based on market conditions and other factors.
  6. Termination of tenancy - in compliance with applicable laws and lease agreements, termination may be necessary. This involves returning keys and security deposit.

An outgoing inspection will also be conducted upon the tenant's vacate. This report will be compared to the incoming inspection report to assess tenant liability for damages. It will also indicate any deductions from the rental bond before refunding.

The pre-listing phase plays a crucial role in setting the stage for a successful property management business. This phase encompasses various essential tasks that property managers undertake to secure new properties under their management. Some of the pre-listing tasks involve the following:

  1. Lead Generation - this is vital as property managers actively seek potential rental properties for management.
  2. Market Research - property managers analyze the local real estate market and gather insights through market research. This helps them determine the competitive landscape. At the same time, rental rates and potential demand for specific property types.
  3. Approaching Landlords - property managers proactively communicate and build relationships with landlords. They will reach out to landlords who may have properties that could benefit from property management services.
  4. Property Assessments - this process is important for property managers to provide accurate information to landlords and set realistic expectations. It also involves evaluating the property's condition and identifying potential property maintenance.
  5. Presenting Management Proposals - this task involves outlining comprehensive management plans and services tailored to the specific property. It includes marketing plans, tenant screening processes, and financial reporting among others.

 

The pre-listing phase also involves tasks such as going through terms and conditions and signing the management agreement document. Afterward, the property management phase begins. This is where property managers take over the day-to-day management tasks to ensure overall property performance and success.

The listing phase is where property managers prepare and showcase a property for rent. During this phase, a series of tasks are undertaken to ensure a smooth and successful rental process. Here are the tasks that you can outsource in the listing process:

  1. Determine Property Rent - setting an appropriate rental price varies according to the location, property size, and current market conditions. Property managers will have to conduct market research in order to maximize the return on investment.
  2. Organize Photos and Marketing Materials - appealing photos that highlight the property's features will certainly attract potential tenants. It will also involve writing detailed property descriptions and featuring the property's unique selling points if there are any.
  3. Advertise the Property - Advertising is important in order to reach a wide audience of prospective tenants. This is where property managers use social media and other platforms to promote the property. They will post the listings on the agency's website, real estate websites, and various social media channels. The advertisement includes the schedule of the open house, the soonest availability for the property, and the rent required. In addition to this, photos and a description of the properties are also included.
  4. Respond to Inquiries - once the property is listed everywhere, there will be several inquiries from interested tenants. Addressing their questions and scheduling property inspections or open houses will allow them to view the property.
  5. Receiving tenancy applications from prospective tenants - This process involves reviewing the applications & conducting background checks to assess the applicant's profile. Your offshore team member can review the applicants' cost-effectiveness ratio and contact their previous tenancies. This way, they can check if they have maintained their previous rental in exemplary condition. At the same time, identify if they have been diligent in paying their rent on time.
  6. Approving a tenant for the property - the property manager will approve tenants on behalf of the landlord. This will be based on the results of the reference and affordability checks.
  7. Organizing reservation fees and bond lodgement - collecting the funds from the tenant and securing the rental bond as per local regulations.
  8. Lease preparation - this is a crucial task involving the property managers who will draft and review the lease agreement. The document will ensure that all legal requirements and terms are reflected. Your offshore team can prepare the Tenancy Agreement on your behalf. They will also make sure to input all tenant details in your real estate management software before the move-in date.
  9. Incoming inspection & preparing incoming condition report - Prior to tenant move-in, an incoming inspection will be conducted. Property managers will prepare an incoming condition report and note any existing damages or issues.
  10. Saving all tenant files into the system - for organizing the records, all important files will be stored for easy access.
The Build a Team Service Guide: Time to Scale!
The Build a Team Service Guide

This phase involves consistent communication with tenants and handling repairs and maintenance. Effective tenant communication is essential throughout the tenancy period. This is so that property managers can promptly address any concerns raised by tenants. Check out the tasks that you can outsource during the in-tenancy process:

  1. Arrears Management - this involves payment reminders and formal notices. This includes monitoring rent payments and taking action to address arrears.
  2. Maintenance and repairs - to ensure that the property remains in good condition, property managers respond to maintenance requests from tenants.
  3. Periodic Inspections - to assess the property's condition during the tenancy, periodic inspections are conducted.
  4. Lease renewals - property managers communicate with tenants to discuss lease renewal options. This will ensure a seamless transition from one tenancy term to another.
  5. Rent Reviews - these are conducted to assess and adjust the rental price based on market conditions and other factors.
  6. Termination of tenancy - in compliance with applicable laws and lease agreements, termination may be necessary. This involves returning keys and security deposit.

 

An outgoing inspection will also be conducted upon the tenant's vacate. This report will be compared to the incoming inspection report to assess tenant liability for damages. It will also indicate any deductions from the rental bond before refunding.

In summary, there are plenty of back-office tasks that property managers can outsource. Not only will they be able to save time, but also achieve cost savings. Particularly if you partner with ShoreAgents which is based in the Philippines and offers low labor costs.

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Property Management Roles That You Can Outsource

How Does Outsourcing Work?

Real Estate Agent Working

Outsourcing with ShoreAgents is a simple process. Once you have identified all roles that need outsourcing, we will take care of recruiting and managing your staff. Depending on your specific business needs, we will present a qualified talent pool of candidates that you can interview.

What Tasks Do You Need to Accomplish for Outsourcing?

ShoreAgents Real Estate

When it comes to outsourcing, there are several key tasks that need to be accomplished. These tasks may vary depending on the specific needs and goals. Here are some of the important tasks that you need to do for outsourcing:

  1. Create A Job Description – Identifying specific tasks and processes is important for your offshore staff to understand the role. Writing a clear job description will attract qualified candidates to apply for the vacancy.
  2. Recruitment Process – This process involves screening applications and conducting initial and final interviews. At ShoreAgents, we take care of the tedious hiring process and present all the qualified candidates set for your interview.
  3. Monitor and Manage Performance – You can monitor your staff’s performance by establishing KPIs and metrics. ShoreAgents also guarantees that all concerns and performance metrics are met to meet your business standards.
  4. Provide a Collaborative Work Environment – It’s important to provide a positive work environment for the team to feel engaged at work.
ShoreAgents Real Estate

By partnering with ShoreAgents, you can expect a worry-free recruitment process and strict compliance with local labor laws. Since we are based in the Philippines, there are also low labor costs compared to other countries. We will take care of the recruitment procedure including job advertisements and summarized application reviews.

Your offshore team will also work in a spacious and modern office with a computer and other work equipment. In comparison to hiring locally, you can definitely save a whole lot of money by outsourcing with ShoreAgents.

Pricing
USD
Standard
653
1,011
613
37,500
592
916
555
34,000
522
809
490
30,000
487
755
457
28,000
453
701
425
26,000
8.37
Assistant Property Manager
12.96
Assistant Property Manager
7.86
Assistant Property Manager
480.87
Assistant Property Manager
10.31
Transaction Coordinator
15.96
Transaction Coordinator
9.68
Transaction Coordinator
592.33
Transaction Coordinator
9.68
Property Accountant
14.99
Property Accountant
9.08
Property Accountant
556.14
Property Accountant
7.08
Real Estate Sales Assistant
10.96
Real Estate Sales Assistant
6.64
Real Estate Sales Assistant
406.76
Real Estate Sales Assistant
9.62
Assistant Development Manager
14.90
Assistant Development Manager
9.03
Assistant Development Manager
552.69
Assistant Development Manager
Membership

Role

Currency

Estimated Monthly Cost

Assistant Property Manager

$2,003

Transaction Coordinator

$2,314

Property Accountant

$2,213

Real Estate Sales Assistant

$1,797

Assistant Development Manager

$2,203

*Based on real-time exchange rates

How Much Can You Save From Outsourcing Back-Office Operations?

Offshoring back-office operations can help you save about 70% cost savings. This is why there’s a growing number of organizations that recognize the benefits of outsourcing and take advantage of it. Here are some of the costs that you can eliminate through outsourcing services:

Hiring locally can certainly exceed your labor expenses, depending on the location. This is why we offer a cheaper alternative to hiring in countries with low labor costs such as the Philippines.

It's also good to note that most of the employees outsourced through ShoreAgents are university graduates. Despite the cost savings, you can also expect to work with talented individuals.

Once you have decided to opt for hiring locally, you should also consider the equipment. Using cloud-based software will help simplify tasks and allows users to access applications on a shared computing system.

This includes rent, training expenses, and benefits. This varies depending on your location and can be costly. It explains why more and more organizations opt for outsourcing.

Property management outsourcing services won’t cost as much as you’d think. While it does cost less than average, that does not mean the quality is any weaker. Our services at ShoreAgents are available for as little as $1,000 USD for full-time employees per month.

Office Location

Hiring locally can certainly exceed your labor expenses, depending on the location. This is why we offer a cheaper alternative to hiring in countries with low labor costs such as the Philippines.

It's also good to note that most of the employees outsourced through ShoreAgents are university graduates. Despite the cost savings, you can also expect to work with talented individuals.

Once you have decided to opt for hiring locally, you should also consider the equipment. Using cloud-based software will help simplify tasks and allows users to access applications on a shared computing system.

This includes rent, training expenses, and benefits. This varies depending on your location and can be costly. It explains why more and more organizations opt for outsourcing.

Property management outsourcing services won’t cost as much as you’d think. While it does cost less than average, that does not mean the quality is any weaker. Our services at ShoreAgents are available for as little as $1,000 USD for full-time employees per month.

Office Location

Contact Us For Affordable Outsourcing Property Management Services

Contact ShoreAgents for Outsourcing Services

If you are a property manager or a property management company struggling to handle day-to-day tasks, contact us today. We offer a highly-skilled English-speaking workforce that can meet your business needs.

Cost savings and enhanced productivity are just icings on the cake. You can also anticipate increasing profit! Not only can you look forward to hiring outstanding employees, but there are also no language barriers. This is because Filipinos are aligned with Western culture.

In summary, it’s wise to automate non-core tasks so that you can redirect your focus on profit-generating duties. Partner with us today and discover new opportunities by outsourcing to the Philippines!

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