This is some text inside of a div block.

The Virtual Assistant Dilemma: Is it the Right Move for Your Property Management Business?

This is some text inside of a div block.

It’s no secret that property management can be challenging and overwhelming, with a wide range of responsibilities that need to be handled on a daily basis. From coordinating maintenance and repairs, to managing rent collection, tenant communications, and legal and compliance issues, it can be difficult to keep up with everything. Add to that the need for marketing and advertising, scheduling showings, screening and selecting tenants and preparing lease agreements, it can feel like there are not enough hours in a day to get everything done, and is easy to get bogged down by the constant demands of the job. 

You may want to hire someone to help distribute the workload, but hiring new staff is a complex process on its own that can take a lot of time and resources. One of the biggest challenges is the costs of labor, from paying salaries to providing benefits such as health insurance and retirement plans. These costs can add up quickly and eat into a property manager's budget. On top of that, employee turnover is costly and resource-intensive, so if you aren’t able to retain your staff you are right back where you started.

Should you hire a virtual assistant for your property management company?

Hiring a virtual assistant may seem like an enticing solution. A virtual assistant can help your property management company with tasks such as scheduling, record-keeping, and responding to tenant inquiries. Also, since virtual assistants are typically not full-time employees, you don’t have to spend as much money to hire them and don’t need to worry about insurance or benefits packages. 

Still, there are also some downsides to consider. One major disadvantage is the time zone. If you're in the United States and your virtual assistant is in India, for example, there can be a significant time difference that can make communication and project management difficult. This can often take more time to get things completed and can result in

The geographical difference can also have some implications if there is a language barrier, or if the virtual assistant does not have the same level of understanding of your local markets. It’s also possible they may not have knowledge of the legal and regulatory requirements that apply to managing properties in your markets, which can lead to errors and non-compliance issues. 

Additionally, even if a virtual assistant has experience in administrative tasks, they may not have the same level of knowledge and expertise in property management as you do. Even if you found them on a website that says they work in property management, it does not mean they only work exclusively with property managers. Take a look at the website where you found them and see if there are many other industries they work with. It’s often the case that they simply have a page dedicated to property management on their website to capture search traffic, but in reality, they work with any industry. A lack of understanding of the unique challenges and requirements of your business can lead to mistakes and errors that can be costly and detrimental to your business, ultimately resulting in poor ROI for your business.

Lastly, virtual assistants may have a large book of clients which means they may not be entirely dedicated to your project. This can lead to delayed timelines, decreased satisfaction from your owner clients, and even loss of revenue. 

How Property Managers Can Effectively Managing a Virtual Assistant

To avoid these issues, it is important for property managers to effectively manage and communicate with their virtual assistant and provide clear instructions and expectations for the tasks they are responsible for, as well as consistently review their work and provide feedback. Provide necessary training and resources and clearly define the scope of work and responsibilities. Establish a system for monitoring progress and be open to feedback and suggestions from the virtual assistant. Even still, this requires increased management time as well as hourly costs, which can divert your attention away from finding new owner clients. 

Investing in Tech-Enabled Tools May be a Better Solution for Property Managers

Why not ditch the stress of hiring staff and embrace the power of technology instead? The right tech tools can make running your property management business a breeze. Automate those time-consuming admin tasks like tenant screening, working renter leads, and tour scheduling. And, with customizable settings and an easy-to-use interface, you'll have more time and resources to focus on growing your business. Plus, technology is often a more cost-effective and efficient solution, giving you a higher return on investment and a smoother, more streamlined property management experience.

That's where Sunroom comes in. As an expert in the field of leasing, we understand the unique challenges property managers and real estate asset managers face. That's why we've created a full-service leasing solution that streamlines the entire process from start to finish. With Sunroom, you'll be able to manage leases at volume, with minimal effort and maximum efficiency. Our cutting-edge technology and innovative platform is designed to make your life easier, taking care of all the little details so you can focus on the big picture.

Learn more about Sunroom’s full-service leasing solution here.