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Property Management Software Virtual Assistant
Use Overseas Virtual Assistants to Keep Your PM Software Up-to-Date & Running Smoothly
Goal:
The goal of your Property Management Software Virtual Assistant is to handle all the menial, repetitive Workflows in your PM Software:
- Adding new Tenant Info & Documents,
- Tracking Billing, Receivables, and Expenses,
- Keeping track of Expiring Leases,
- Ensuring all Receipts & Invoices are uploaded,
- and more…
Ultimately, the objective is to create total peace of mind, knowing all your rental & tenant info is always fully up-to-date and centralized in one place (the Property Management Software).
How It Works:
These days, all Property Management revolves around complex software to keep track of every rental property, tenant, payment, vendor, invoice, and more.
It makes sense that this will also create a whole host of menial, repetitive, back-office Admin Tasks, to keep that Property Management Software running smoothly.
Therefore, these Property Management Software Admin Tasks are going to be prime candidates for outsourcing to Overseas Virtual Assistants.
You’ll definitely be able to find VAs who have Property Management experience pretty easily… and it will be easiest to find Virtual Assistants who already have experience with your exact Tasks & technology, if you’re using one of the more popular Property Management Software, like:
- Appfolio
- Buildium
- PropertyWare
- Yardi
- RentManager
- Rentec Direct
- etc…
Even if your Virtual Assistant does not have experience with your exact Property Management Software, it is not a big deal, so long as you remember to always build your back-office:
Process-Based, Not People-Based
In other words, to ensure your Virtual Assistant is working according to your standards, in a way that is systematic & efficient, you need to ensure every Workflow always follows a detailed,Ā step-by-step Standard Operating Procedure (SOP).
Once you have the Standard Operating Procedure(s) to guide the Virtual Assistant on the Workflow(s), this type of work will require very little ongoing oversight or management.
Your Overseas Virtual Assistant can easily help out with Tasks like:
- entering receipts and expenses into your software,
- making sure that invoices are scanned and uploaded,
- keeping track of all your tenant data,
- updating maintenance tickets from start to finish,
- uploading credit reports, signed leases, and more…
If thereās any repetitive, menial Tasks to keep your Property Management Software up-to-date & running smoothly, those Tasks can, and probably should, be outsourced to Overseas VAs.
Pros:
These type of menial, repetitive Admin Tasks occuring inside Property Management Software are the perfect candidates for outsourcing:
- You’ll save money,
- Free time to focus on your business,
- All without sacrificing work quality.
That’s because these rote Admin Tasks almost always occur the exact same way, meaning they can be perfectly captured in a step-by-step Standard Operating Procedure (so that an Overseas Virtual Assistant can do them just as well as anyone locally).
Thereās no reason to pay some US-based wages when an Overseas Virtual Assistant can handle the work up to the same standard for as little as half the price.
Plus, once this task is outsourced and automated, due to its repetitive nature, it can run smoothly with very little ongoing time or effort on your part.
This will help you free your energy to focus on more important tasks like growing your business and making sure your Investor Clients are happy.
Cons:
As with many Admin Workflows, the biggest challenge with having a Virtual Assistant take over your Property Management Software is the set up process.
Since there are so many possible Tasks & Workflows potentially occurring in your Software, you’re going to need very robust, detailed, step-by-step Standard Operating Procedures for every Workflow you outsource.
You don’t want to leave anything up to the imagination of your Overseas VAs.
You don’t want to have your Overseas VAs making live decisions that could affect your business.
You don’t want your Overseas VAs doing any Client-facing communication (though it might be ok for the right VA to talk to your Vendors and maybe even your Tenants).
You’ll need to completely remove all the guesswork, and document your Workflows down to the finest detail.
Without properly systematizing & documenting each Workflow, it’s very difficult to effectively outsource these types of Admin Tasks to an Overseas Virtual Assistant.
Work Estimate:
The Work Estimate for your Property Management Virtual Assistants will depend largely on two main factors:
- How many Workflows are you assigning to the VA(s)?
- How many units do you have under management?
If you have few properties and only need to outsource a few menial Tasks, you can benefit from a Virtual Assistant working as little as 1 Work Hour Per Day (about 20 Work Hours Per Month).
On the other hand, if you are managing a large portfolio, and want to completely outsource everything going on in the Property Management Software to a team of Overseas Virtual Assistants, you might need as many as 2 – 3+ full-time VAs!
Therefore, you’ll need to consider exactly how much work is going on in the Software, and go into the VA hiring process accordingly. It will be ideal to find a Virtual Assistant who can grow with your requirements, and eventually progress to handling everything in your Property Management Software (and even perhaps take on additional responsibilities like Prospective Tenant Screening or Late Rent Collection Calls).