ireviloution Founder and Managing Director, Jo-Anne Oliveri, weighs in on the outsourcing debate by questioning how good are your processes?
Does this sound like your agency – your property management team cannot manage their workload, tasks are piling up, landlords and tenants are unhappy with your service and managements are being lost?
Unfortunately, this is the current situation for many principals and their solution to cut costs, free up their team’s workload and deliver a more efficient service is to outsource tasks like inspections, maintenance, prospecting and trust accounting.
But, is this really the best way to manage your property management business?
In the short-term, perhaps. You may save some money, your team may have more time to focus on other tasks, and your clients may be momentarily happy with your service. But, this is not an effective long-term solution to manage your business because you are dealing with the symptoms, not the problem.
The problem is your current processes – they obviously are not working. Which makes the solution simple – implement better processes.
Implementing better processes is a long-term solution which not only adds value to your property management business but completely negates the need to outsource as the tell-tale symptoms won’t show. Better processes allow you to proactively manage every area of your business, including your operations, team, service, clients and bottom-line.
Essentially, this solution puts you in 100 per cent control of your business, which is where most principals would rather be.
The first step is to look at your agency’s current processes. Where are the weaknesses? What tasks are not being carried out efficiently? What services are your clients unhappy with? Work out where improvements must be made and how to systemise, streamline and simplify operations to achieve the level of service you want to deliver. Then, out with the old and in with the new! Put your new processes in place and train your team. It’s important your team understands how to consistently manage your agency’s processes so consistent customer service standards are delivered.
The next step is to educate your clients. You want your clients to understand how your services maximise returns on their properties. To do this, educate them on your agency’s policies and tasks so they understand their responsibilities and see the value in your services. Ultimately, this builds trust between you and your clients. The knock-on effect – if your clients trust you, they also trust that what you recommend is right. That means all tasks, like maintenance, are understood and can be carried out seamlessly. Better that you and your property managers build these mutually beneficial relations rather than a third-party who doesn’t represent your agency.
So, believe it or not, there is a better way to gain what you are hoping to gain from outsourcing! Instead of focusing on the symptoms, how about dealing with the problem. Outsourcing is a short-term fix to address the symptoms. But, if you want to seize the opportunity and implement a long-term solution, implement better processes and educate your clients. It’s the long-term solution you need to keep you, your team, clients and bottom-line happy.
To learn more about how you can implement better processes in your property management business, contact us.