In the competitive world of real estate, property management is vital for the success and growth of any office. To stay ahead and increase the value of the business, Property Managers must focus on growing their rent roll.
The demands and pressures placed on Property Managers and their teams is nothing short of overwhelming, leading to burnout and a poor work-life balance. This has resulted in a shortage of qualified property management staff and increased competition for talented professionals.
Then there’s the challenges that come with sourcing new people, standing up new property management team members and the difficulty you then have retaining them once they are trained. IT’s a vicious cycle that’s hard to break out of.
To address these challenges, real estate offices are now able to leverage remote staff or Virtual Real Estate Support Teams. These teams specialise in property management tasks and offer numerous benefits to help Property Managers maintain a healthy rent roll while achieving a better work-life balance.
Benefits of Remote Staff for Property Management:
- Efficient Handling of Tasks: Virtual Real Estate Support Teams can handle a wide range of property management tasks, including new tenant applications, lease renewals, smoke alarm compliance, rental bonds, water recharges, contractor licenses and insurances, entry and breach notices, rental property insurances, maintenance requests, rental trust accounting, managing emails and appointments, and more. By delegating these responsibilities to remote staff, Property Managers can focus on strategic growth and core business activities.
- Scalability: Remote teams can be easily scaled based on the needs of the individual real estate office. As the rent roll grows, additional team members can be added to manage the increasing workload efficiently. This flexibility ensures that the property management tasks are effectively handled without overwhelming your onshore team.
- Cost Savings: Leveraging remote staff results in significant cost savings. By hiring Virtual Real Estate Support Teams, there’s no need for additional office space, equipment, or infrastructure. Furthermore, remote staff are more cost-effective compared to onshore employees, reducing your overheads and expenses.
- Access to Talent: Virtual Real Estate Support Teams give you access to a pool of talented professionals with expertise in property management. Cloudstaff can source individuals with specific skills and qualifications to meet the unique needs of your real estate office. With remote staff, Property Managers can overcome the challenges of finding and retaining experienced property management professionals.
Determining The Size Of Your Team:
At Cloudstaff, we’ve been helping real estate offices with their property management tasks for over 10 years. We have developed these guidelines to assist you in determining the appropriate team size for your office and your circumstances.
Typically, a virtual support team for property management may consist of 3 to 5 members, depending on the specific needs and size of the real estate office:
- Rent Arrears: One team member per 1,000 properties
- Lease Renewals: One team member per 1,250 properties
- Repairs and Maintenance: One team member per 1,250 properties
- Routine Inspections: One team member per 1,500 properties
- Property Leasing: One team member per 2,600 properties
- Marketing and Entry Notices: One team member per 4,000 properties
- Quality Assurance and Reporting: One team member per 5,000 properties
Get more done. Save on costs. Get your life back.
In today’s competitive real estate market, leveraging remote staff or Virtual Real Estate Support Teams creates a competitive advantage that can see your rent roll thrive.
Our teams offer efficient handling of property management tasks, scalability, cost savings, and access to talent. What more could you ask for?
By delegating these responsibilities to your Virtual Real Estate Support Team, property managers can focus on growing their rent roll and strategic business initiatives.
Cloudstaff, has extensive experience and can assist in sourcing qualified professionals to build a virtual support team tailored specifically to your needs. Embracing remote staff can not only help Property Managers to grow their rent roll but also contribute to a healthier work-life balance for the onshore team.
Contact the team at Cloudstaff today to learn how a Virtual Real Estate Support Team can support your business and help you achieve growth while restoring work-life balance for your onshore team.