Being an absentee owner, I have entrusted management of my Brisbane property to Rental Trends for a number of years now. All dealings I have had with Ann and her team have met my expectations over this time, and I would highly recommend Rental Trends for their professional management in protecting all property interests. Dan Phillips
Outsourcing is now a hot topic in the property management industry. Keeping up with the demands of owners and tenants, while still performing out-if-office tasks, have become a time management nightmare.
Is it any wonder a property manager might decide to seek help to help them deal with the stresses of the job? To help determine whether our business should outsource, it pays to know the types of solutions available.
Onshore outsourcing - In recent years, this type of outsourcing has become more common with property managers using third-party apps like Inspections Manager, LiveAgent or Maintenance Manager for tasks such as routine inspections, maintenance repairs or quotes. There are also options to hire temps and have external companies perform your inspections and even answer your phone.
Offshore outsourcing - Business process outsourcing (BPO) is new territory for the property management industry. In this day and age, there’s no business that hasn’t been touched by offshore outsourcing. Companies such as Telstra, Optus and Foxtel have been offshore outsourcing for years.
Internal outsourcing - This is where you increase your staff by hiring local labour. You might hire someone for a junior position, an assistant property manager or a part-time employee. The objective here is to hire the extra pair of hands to assist with the workload. Internal outsourcing has been common practice for years in the industry, and for a long time it’s been the only option available to handle business growth. The downside is that it's the most expensive option available.
All of these outsourcing solutions will provide either short or long-term relief from the tasks that need to be accomplished on a daily basis.
Weighing up the options .....
Onshore outsourcing is more of a short term-fix, but hiring someone else to physically do your property inspections is risky and takes away from what your owner is paying us to do.
Offshore outsourcing can be cost-effective. However, it is difficult to locate an overseas worker whose English is acceptable and then spending hours training them all leads to further cost.
Internal outsourcing is great but not necessarily cost-effective. However, although labour costs are the largest expense in any rental department, that personal service that the client receives when telephoning us is immeasurable. We want to talk to our owners, we want to meet their needs and we want you to know that we are on the other end of the line.