How we have helped property management companies
Leading Property Management Company, Ohio, USA
What were the challenges?
Reduce expenses by 35% while still maintaining the accuracy of the tasks completed.
How did we tackle the challenge
Our client decided to try our virtual staff. We started with one virtual staff who learnt how the process works at our client's office. The training was done through our web conferencing facilities where we recorded the computer screens along with the voice. Training lasted for 5 days. Immediately we started on the trial tasks. Client was extremely satisfied with our quality and timeliness and continued to add more tasks and people to do the work.
What property management tasks do we handle?
New tenant application
We enter new tenant applicant details into our client's software. Verify the credit & criminal records of the applicants and approve or reject the application.
Work order processing
Enter work order details of the maintenance staff and the items they purchase for making repairs
Vendor invoice processing
Enter vendor invoices. Verify the invoice for any errors. Enter them in the software and prepare for payment
Utilities bill processing
Enter the electricity and gas bills of the properties. Update payments received
Payroll processing
Weekly payroll for all the staff working at the company
Accounting
Manage rental deposit information, reconcile accounts, create management reports and owner reports
Result
By using our virtual staff our property management client saved 42% of their employee expenses. When the business grew they added more staff to their virtual team.
Nationwide Property Management Firm, NE Atlanta
What was the challenge?
Take on multiple responsibilities of a staff who quit on a short notice
How did we tackle the challenge
We immediately allocated an experienced staff who had similar property management skills to start with the work. Since our staff had prior experience the training was very short. Even though it required multiple skill sets. Initially we started off with a part time role slowly growing on to a full time. We currently have a team working for this client.
What property management tasks do we handle?
New property information
Update new property and landlord details in to the system. We use the property management software Propertyware to do this work
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Advertise new and available properties in different property listing websites and refresh them twice a week
Bookkeeping
Enter rental checks, supplier invoices. Verify with property managers about the invoices. Do payroll.
Result
Currently client does not need to worry about people leaving on a short notice. We have a team of virtual staff for them and have backup staff whenever they need it.
Lettings agent, London
What was the challenge?
Increase revenues without adding overhead. Get reliable help to do everyday tasks.
What property management tasks do we handle?
Lead generation
Call landlords who are interested in letting out the property and fix appointments with the property management company to generate new business.
Administrative tasks
Call the new clients and arrange lettings contract for their property to be let and maintained by our client
Appointment management
Handle all incoming calls of potential new tenants and match them with the available properties. Fix up appointments with the property managers to show the property to the interested people
References and management
Check credit references of the new tenants from online credit agencies. Draw up new contracts and manage the contracts.
Accounting
Maintain accounting of all the properties. Maintain general ledger. Complete bank-reconciliation. Manage tenant accounts and late payments. Create monthly management reports
Result
We generated more new business for the client through lead generation. The new business brought in by us increased our client's revenues by 27%. At the same time keeping the costs to a minimal. There by increasing profit margins.
Estate Agents, Surrey
What was the challenge?
Improve rent collection. Control spending. Get more accurate management reports to find out the profitability of each property.
What property management tasks do we handle?
Accounting
Our team sends rental late payment notices. Creates eviction notices. Checks on the actual spending for each property. Inform the property manager if the amount exceeds the budget. Maintain accurate information for each property so that it is easy to find the profit and loss of each property.
We maintain the books and manage entire accounting department including bank-reconciliation, tenant accounts management and monthly management reports. We send monthly confirmation reports or arrear notices to every tenant and land-lord.
Call handling
We handle all tenant maintenance requests and all incoming sales enquires
Result
We have a well oiled accounting department for our client that handles all the accounting and accounting related tasks. Management reports are send on time every month which helps in quick decision making for our property management client.
Get a quote now
Are you a property manager struggling to complete with your daily tasks? We can assist you with property management accounting and other administrative tasks. With our help you can now manage all your workload easily. Find out how we can help you
