Residential Property Management Services Outsourcing to The Philippines
More residential property managers are outsourcing services to the Philippines in 2022. But, as businesses grow, so does the workload in administrative tasks. For these reasons, property management businesses hire offshore services to automate tasks.
For several years now, outsourcing has been the rising trend for many businesses – and property management is no exception. The good news is that firms, especially businesses that belong within the Small and Medium Enterprises (SMEs) can still hop on this trend.
Outsourcing back-office operations in property management have become the standard, still only 0.5% of companies that outsource belong to SMEs. This makes for a market with vastly untapped potential. Still, there can be uncertainties and doubts that go along with outsourcing – and that’s perfectly normal!
If you built a property management business from the ground up, chances are you wearing too many hats and already have a habit of doing things in-house. Additionally, you may think that the security and risks involved in outsourcing are way too high.
Luckily, offshoring your back-office tasks is already the norm worldwide. Furthermore, the practice has become well-established with large US firms having decade-long relationships with outsourcing companies in countries like the Philippines.
And, if you’re still not convinced, here’s a quick rundown of how hiring an offshore staff can benefit your residential property management business:
- Massive Operation and Labor Cost Savings
- Easily Streamline Business Operations
- Access to a large pool of talented and highly skilled workers
Reasons Why Your Residential Property Management Business Should Try Outsourcing in The Philippines
When it comes to outsourcing, property managers can take a look at several countries with low labor costs. According to an article from Outsource Accelerator, investing in offshore staffing can save businesses up to 70% on labor alone.
And, if you’re just looking at the countries where you can get the most savings then your top 3 should be India, Brazil, and the Philippines. However, for most companies – outsourcing property management services to the Philippines offers you a definitive advantage compared to other countries.
The Philippines has continued to reign supreme when it comes to its Business Process Outsourcing (BPO) industry. In fact, the country still holds the title of “BPO Capital of the World”. Moreover, the country boasts a high English proficiency rate of 98%.
You can also stack this up with the Filipinos’ more westernized culture making them perfect for customer service for your residential property management business. Also, virtual assistants can handle a variety of tasks for a mere fraction of the cost.
Where Can You Find An Offshore Back Office Service Provider For Residential Property Management In The Philippines?
The BPO industry in the Philippines hit an incredible milestone of $26.7 billion worth of revenue despite the pandemic. Analysts suggest that this number could go up to $29 billion by 2022.
That said, finding a BPO company that can seemingly handle your back-office or administrative tasks is quite easy. Just a simple Google search can show you a list of several top-quality BPO companies.
However, a bit of caution is advised as the Philippines’ BPO industry has a notorious reputation for “job hoppers“. So, when choosing your outsourcing provider in the Philippines, make sure that their recruitment process involves a rigorous hiring system that ensures quality applicants.
A company should also be able to speak to their experience, security, and overall process in order to fully answer any concerns you may have.
Hiring Freelance VS BPO
As an example, Global Strategic has a culture of conducting multiple interviews to ensure that an applicant is a perfect fit for the company. Through this extensive process, clients are less likely to see “AWOL” (absent without leave) virtual assistants and more likely to experience increased productivity and efficiency.
On the other hand, you can go the freelance route and hire from online job boards such as Upwork or Reddit, but this process can take time and a long trial-and-error period before finding the right property management virtual assistant. You may end up having several who do not work out for you before finding the right fit.
On property management forums, users that hired freelance VAs from the Philippines have the saying “hire slow, fire fast“. For most of them, the trick to making freelance hiring work is to onboard multiple people, test them, and quickly fire those that don’t work out. This is not always the most prudent way for a business to approach staffing.
Cost of Hiring Freelance Property Management Virtual Assistants
You may think that hiring freelance VAs can be an even better way to outsource your services. However, with freelancing, you also need to account for the time it takes to train the virtual assistant, onboarding, and make sure that the VA has all the necessary tools to do your job well.
Furthermore, In the Philippines, a large majority of the population is susceptible to power outages, storms, loud parties, and even roosters crowing in the background. That said, you can definitely go for cheaper freelancers, however, you do need to be prepared for often running into problems where your freelancer needs extra equipment, training, and more.
Meanwhile, doing a quick job search on Upwork can show that the average hourly rate for Filipino Virtual Assistants for the property management niche on the high-end can go up to $12-18 dollars. But, even with the recommendations and the success rates – hiring freelancers can still be up to luck.
Offshore Back-Office Assistant Rates in the Philippines for Residential Property Management
When it comes to the Philippines, you could always expect highly skilled and professionally trained workers who are more than eager to learn new things. The difficulty lies in finding these workers who are suitable for your company, can complete the work, and will hopefully stay engaged and productive for you.
Many companies, need to work with an outsourcing company in order to provide them with the requisite training, security, escalation, and management. Doing so will still provide you with cost savings on hiring locally, but also gives you a much higher probability of success when working with trusted, experienced, and professional partners.
If you’re ready to start your outsourcing journey, Global Strategic can help with your business needs and give you the Strategic Advantage needed to edge out the competition. Talk to us today and learn more about how offshore outsourcing to the Philippines can help your business and future business growth.