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Did you know that 37% of small businesses outsource at least one of their business processes? Another report said that 83% of small businesses maintain or increase their spending on outsourced business services in 2023. This explains the rising demand for outsourced services all over the world.
Deciding whether to outsource or not might be an easy step based on your business needs. But how does the property management industry benefit from outsourcing? Let’s find out more in this blog.
Outsourcing has become more accessible nowadays. Due to the numerous success stories of outsourced customer service, more businesses are starting to consider outsourcing.
With all the challenges businesses currently face, the more reasons they have to consider outsourcing. The most common reasons for Property Management Customer Service Outsourcing are:
Property management includes administrative tasks and handling customer queries and complaints. Let’s be frank: These tasks either take up so much of your time or often get neglected. You become so busy with everything that you start forgetting about the income-generating tasks or core functions you need to do.
When you outsource customer service, non-core tasks can be checked off your daily to-do list. The outsourced team can take care of time-consuming tasks and handle anything related to your customers, which increases your productivity and profitability. This enables you to focus on core business functions and create strategies that can set the stage for expansion.
Another thing that can take up your time is setting up your own customer service team. You would have to meticulously go through every candidate possible to hire the best people. That’s not where it ends: You’d also have to implement a clear and seamless onboarding process.
But when you outsource, these pain points don’t need to take up headspace. You can get your customer service in just a couple of weeks, ready and well-equipped to do your customer service tasks.
Companies across a variety of industries can reduce labor costs by up to 50% with outsourcing.
The Philippines is one of the top countries to outsource to in Asian countries. The BPO industry here is thriving and is a major source of the country’s economic growth, which gives you the assurance of business continuity. You can easily outsource your customer service team for a fraction of the cost of building an in-house team in the US and similar locations.
These cost savings enable you to allocate your budget to other crucial areas like building repairs, advertising, and acquiring new units. So, not only do you get an outsourced customer service team to help with customer satisfaction, but you can also boost your company’s growth by maximizing your financial resources.
In-house customer service teams can eat up a significant amount of your budget, impacting your bottom line. In-house teams typically call for payments, like building rent, office equipment, and infrastructure (as well as salary, insurance, healthcare, and training expenses).
Those can quickly add up: On average, employers cover 83% of their workers’ healthcare plans, which often amounts to thousands upon thousands of dollars. An outsourcing company is called the “Employer of Record.” That means they handle the hiring, training, and all the other factors that can make running a skilled staff financially difficult.
But with outsourcing, you get to free your mind and your pockets from these overhead expenses. Now, you’re free to pursue that higher ROI with minimal capital expenditure you’ve been dreaming of.
When handling customers, consistency is a principal factor in maintaining positive tenants. Outsourced customer service teams are more efficient in handling customer-related tasks compared to in-house teams due to their ability to focus on individuals more.
Here’s one reason why: Offshore outsourcing companies can invest in expensive call center software that helps with this type of individual care. Even when a different person answers the phone, the programming has all the notes needed for the call center agent to be immediately up to date on everything from maintenance requests to checking on rent payments.
This gives your customers a better experience, which can result in increased customer satisfaction. Customer retention is just as important as customer satisfaction. It’s a must-have to build strong, reliable, and excellent customer support to boost customer satisfaction and loyalty.
This helps your existing customers to continuously trust your company. High customer retention boosts your company’s credibility and shows that you value long-term relationships with your customers.
Another benefit of outsourcing that can transform your operations is getting access to experts and modern technology. However, you might not always find them at home.
Having an outsourced team with the applicable skills and experience allows you to provide your clients with the highest caliber of service. You won’t have to stress about hiring the top talents for your customer support staff, thanks to outsourcing.
Additionally, modern project management tools can be quite expensive, and small businesses might struggle to acquire them to assist with their daily operations. Larger businesses, too, might not even want the expenses (or the headache of training staff to use them).
Through outsourcing, you can utilize cutting-edge technology to simplify processes and enable seamless collaboration and communication across your team. These efforts contribute to improving your company’s efficiency and productivity.
One of the greatest advantages you can get from outsourcing is flexibility. In the property management industry, there are peak and off-peak seasons. Through outsourcing, you don’t have to worry about scaling your operations up and down during these times. You can easily hire seasonal employees to handle the increased workload. For example, from May to September, you might see more rental requests with high school and college students moving. That could be a wonderful example of a time to scale up.
Not only that, updating technology during peak seasons to keep up with the workload can be costly and time-consuming. However, outsourcing allows you to acquire the technology you need for your operations without worrying about the cost or the time to integrate it. Property management owners can quickly adapt to fluctuating demands and adjust both their resources and capacities accordingly.
The Client:
The client is a full-service property management company specializing in short-term vacation rentals, founded in 2015. The founder saw potential in the travel industry and used his background in real estate and property management to grow the business.
Our client manages properties in various Las Vegas buildings, offering guests and owners a viable option for short-term rentals. Their platform allows users to find the perfect suite in the right location at the right time.
The Challenge:
Their goal is to give all their property owners and guests excellent customer service, impeccable cleanliness, and timely maintenance while connecting them with luxurious accommodations for avid travelers.
The Solution:
The client decided to outsource their customer experience team to STAFFVIRTUAL. We promptly sourced candidates highly qualified for the role. Our team knew their BPO team had to multitask to increase the company’s productivity.
The Results:
Their booking rates across a range of booking sites increased, thanks to our partnership. Because of their established customer service team, they now operate 24/7. Additionally, because of their increased productivity, our client was able to clear their backlogs and operate more efficiently.
The Client:
The client is a California-based hotel company founded in 2017, aiming to provide guests with an amazing and memorable experience. With a presence in three US states, they ensure guests are well-rested and receive 24/7 assistance from on-site managers and cleaners. Their exceptional service supports their mission of making “home away from home” a reality.
The Challenge:
In order to keep their customers satisfied, they had to continue offering 24/7 property management support without sacrificing the caliber of the properties or services they offer.
The Solution:
To retain the 24/7 property management support, they partnered with STAFFVIRTUAL to outsource experienced candidates for property management and hospitality services.
Additionally, we helped them create training materials and establish KPIs for performance monitoring. We provided a team that can offer support to clients and maintain communication with on-site facility personnel to guarantee high-quality service.
The Results:
STAFFVIRTUAL’s property management team successfully handled reservation inquiries and guest concerns, resulting in positive guest reviews and high-performance evaluation scores from the client. Our expertise ensured round-the-clock guest service for the client.
Outsourcing customer service is a powerful strategy for property management businesses. Whether you’re an established business owner or just starting up your own property management business, outsourcing can be life-changing. Knowing and understanding how outsourcing can improve your operations and boost your business growth is a big step to a more stress-free tomorrow.
Just like our clients, you too, can experience the power of transforming your business through outsourcing. Let’s work together and achieve results that can make a great impact on your business goals.
Book a call with us today and get access to our highly skilled and experienced professionals. With our 15 years of experience, STAFFVIRTUAL is a reliable outsourcing company that can help you succeed in property management customer service outsourcing.
Sources:
Clutch Report Uncovers the Surge of Small Business Outsourcing | PR Newswire