Great property managers consider several factors that may be affecting their decisions regarding outsourcing. These factors benefit an organization’s long-term goals. Aside from cost savings, outsourcing provides many opportunities for growth within an organization. However, this can only be achieved through strategic planning and risk management. As a result, it is crucial that Property Management …
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Property Management Outsourcing has several advantages, however, risks should be considered. In this article, we’ll be going through operational risks, principal-agent-related risks, business risks, poor contract designs, and more. Many praise outsourcing for its ability to transfer fixed and variable costs to an external service provider. Unfortunately, this can result in unforeseen direct and indirect …
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Automation is increasing efficiency in many industries, and property management is no different. Property managers can choose to automate a variety of tasks, though the reality is that only a small percentage of a manager’s tasks can be left to automation. Despite this, if done correctly doing so can improve performance and efficiency drastically. In …
If property managers want to start evaluating potential outsourcing partnerships, then a measurable benchmark should be defined. Generally, businesses hiring offshore service providers are looking to save costs. However, qualitative metrics such as employee and customer satisfaction must be taken into account. According to Collier’s study, the decision to outsource is based on two factors …
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Outsourcing property management tasks to an offshore workforce provides advantages – but, it also comes with risks. Luckily, there are best practices you can follow to help your business utilize outsourcing to its full potential. First, identify the business’s pain points. Ask what tasks your business is struggling with. Then, pinpoint which of those you …
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Property Managers are starting to get into outsourcing services such as maintenance and repair, eviction notices, and other tenant-focused support. In this article, we are focusing on outsourced maintenance services and how it benefits property managers. Furthermore, we’ll give a rundown of the Pros and Cons of Maintenance Outsourcing – and more importantly, how to …
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Property managers are looking into outsourcing the bulk of their administrative tasks – Tenant Screening being one of them. But can outsourced remote tenant screening really work? Thanks to modern technology, we have come to a point where you can outsource tasks such as Tenant Screening to Property Management Virtual Assistants. Obviously, there’s a steep …
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Real estate is among the most cutthroat industries out there – that’s why agents, property management businesses, and developers are looking at Business Process Outsourcing (BPO) solutions to have an edge over the competition. Within the Real Estate industry, especially in property management, the smallest of transactions have a lot going on in the back …
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Real Estate Professionals are Outsourcing Property Management Services Offshore and Here’s Why! OFFSHORE PROPERTY MANAGEMENT – Saying that building a successful business in the real estate industry is hard is a major understatement. It takes indescribable amounts of hard work, dedication, and perseverance that get you through this hyper-competitive industry. For this reason, the best real estate …
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Property Management Outsourcing has different structures – each one leading to a different business model. Primarily, we’d see three models used in this industry – corporate, business, and functional. The word “structure” is a broad term. But in this context, we’ll refer to structure as the responsibilities and reporting related to customer focus in real …
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