Property Management has become more challenging, and agency owners need to come to terms with the fact that it isn’t getting easier anytime soon. In this article, we offer some suggestions on how to structure your Property Management department for success.
A survey conducted at the 2021 STAFFLINK Conference showed that response time expectations from landlords & tenants is most often less than one hour. If staff are unable to keep up with all of their tasks, this expectation is almost impossible to meet.
At STAFFLINK, we’ve collaborated with some of Australia’s leading Property Management companies to establish the most effective way to manage their property portfolios, and have set the industry benchmark of client satisfaction (Landlords and Tenants).
The numbers don’t lie; 5 of Australia’s top 25 PM agencies use STAFFLINK to help make their business great. RateMyAgent’s 2021 Agency of the Year, Image Property, is a shining example of what can be achieved when these processes are followed.
By adopting the processes and using effective Property Management outsourcing solutions, it is entirely possible for any agency to improve every aspect of the department; the total properties under management, property to staff ratio, management cost per property, client satisfaction (NPS score), and overall profit.
Here’s what clients of STAFFLINK have had to say:
Traditional Property Management Department:
Normally, the majority of admin & paperwork will be left to the Assistant Property Manager or Administrator. These tasks are extremely time consuming and it is imperative that they are done correctly every single time.
The Property Manager will spend most of their day out of the office, either with landlords, tenants, or at property inspections. The remainder of their time, which is very limited, will be spent on tasks such as relationship building – this should be their primary focus.
The Senior Property Manager will often be distributing tasks, training staff, or handling problems & complaints. These tasks leave the PM team in a fixed way of operating that is very difficult to transition from to become more efficient and successful.
|Senior PM||Property Manager||APM/Administrator|
|Assistant PM Allocation||Owner Lease Renewals||Entry Report|
|Training||Tenant Lease Renewals||Enquiry|
|Point of Escalation||Open Homes||Entry Notices|
|Vacates||Processing Bills & Invoices|
|Arrears Management||Upload Viewings|
|Relationship Building Activities||Property, Owner & Tenant Upload|
|Dollar Productive Activities||Private Viewings|
How to structure your Property Management Department (with STAFFLINK):
NOTE: Each of the tasks listed below should have a set structure and procedure behind them, with an efficiently trained offshore team member being integrated into the team and conducting these tasks. If you do not have experience in the onboarding of outsourced staff, please reach out to the STAFFLINK team for assistance.
The below structure allows your team to grow, succeed, and most importantly, spend time working on the most important aspect of PM; relationship building with clients.
The Offshore Property Management staff will communicate with the rest of the team throughout the working day, and handle all of the administrative work in a timely and efficient manner. This allows the Assistant Property Manager to spend less time focusing on admin tasks and become more involved in the enquiry and inspection processes. By becoming more active on the road and engaged with clients, these staff can expect to become more experienced and comfortable at dealing with landlords/tenants at a much faster pace.
The Property Managers will see a significant change in their day. Instead of spending large portions of the day traveling between properties and the office, they will be able to spend approx. 80% of their day focusing on relationship building, key client communication, and dollar productive activities. This leads to an increase in client satisfaction, property retention, and referral work.
|Senior PM||Property Manager||APM/Administrator||PH Team|
|Assistant PM Allocation||Arrears Management||Enquiry||Owner Lease Renewals|
|Training||Relationship Building Activities||Routines||Tenant Lease Renewals|
|Point of Escalation||Dollar Productive Activities||Vacates||Entry Notices|
|Open Homes||Upload Viewings|
|Maintenance||Processing Bills & Invoices|
|Private Viewings||Property, Owner & Tenant Upload|
|Bills & Invoices|
|CRM Support & Data Entry|
Agencies who have embraced this approach have clarity & visibility over who does what, and when. Inefficiencies have been removed and profitability has increased.
From a client perspective, there is a greater consistency in the service being provided, a higher quality of conversation when it comes to advice & recommendations, and no doubt that everything is being done correctly and with their best interest in mind.
By following the processes and structure put in place by STAFFLINK, one of our clients recently saved $506,220 in just 10 months. Read the case study here.
If you would like to speak with an expert on how to structure your property management department, please contact the friendly team at STAFFLINK.