Running a property management agency has become a tough business, with the industry experiencing increasing downward pressures on fees. According to a 2017 Macquarie Bank research[1], 20% of agencies are struggling to break even.
A 2018 industry-wide survey conducted by real estate software provider Rockend on the perceptions of outsourcing in the Australian Property Management Industry found that 50% of respondents saw outsourcing as an opportunity. For agencies with more than 1,500 staff this statistic grew to 65%.
Real Estate agencies constantly look into how to deliver efficiencies in the Property Management space. As a result, many Property Managers experience huge changes to the expectations of their roles. The average Property Manager looks after just over 100 properties full-time, with this number trending upwards[2].
Outsourcing has quickly become one of the best ways to help free up Property Managers to focus on growing their rent roll. This is especially relevant when it comes to simple, repeatable administration tasks agencies must perform, and can create event more efficiencies when agencies use Cloud-based software.
According to Alister Maple-Brown, CEO at Rockend, the Rockend Property Assistant is a game changer for the industry.
"Our product focus has always been about automating as many of the mundane property management tasks, so that agencies can get some time back to spend on growing their businesses and with their customers.
"Some of these back office tasks – such as new tenant or property onboarding, tenancy management and exit administration, can now be managed by a Rockend Property Assistant trained in REST Professional or PropertyTree, helping us deliver even more value to our customers.
"Partnering with Beepo was an obvious choice for us. They have extensive experience providing high-quality outsourcing solutions to the industry. We have extensive training and certification programs, which enables us to upskill Beepo staff on Rockend products so that our customer's expectation are being met as they expand their team with a Philippine-based Rockend Property Assistant" says Maple-Brown.
Aimee Engelmann, CEO of Beepo, said the aim of this industry-first product is to help agencies deliver efficiencies to scale and grow with minimal risk.
"While it's true that outsourcing has had its challenges, especially around quality and training, the new reality is quite different. Combining technology and stringent processes with top-notch training and accreditation delivers quality from the outset.
"This means that all offshore team members can hit the ground running, managing processes the Rockend way. Plus, the Rockend Property Assistant product has been designed to provide access to a trained and accredited team even if staff are sick or on leave. This minimises risk and ensures consistency of output for agencies".
Saving money on overheads is also a huge benefit. A Property Management department considered as extremely profitable would be running their cost of wages at 37% compared with most, running at 50%. Customers have reduced their cost of labour to as low as 25% through the use of outsourcing and Cloud technology without experiencing any negative impact on service.
"Our case studies show that customers can save $84,000 per position per year by outsourcing basic administration tasks. That money can then be invested directly back into their business," Ms Engelmann said.
However, she stresses that it's all about delivering efficiencies, rather than removing work from local staff members. "It's important that Australian Property Managers think of their Rockend Property Assistant as an extension of the team, taking on repeatable tasks and giving them the freedom to focus on growing their rent roll and spending more time building relationships".
The Rockend Property Assistant powered by Beepo allows agencies to compete, scale and grow through implementing a modern and sustainable future-proof business model.
It's the way of the future, here and now.
About Rockend Property Assistant
A Rockend Property Assistant is a Philippines-based, qualified staff member who is Accredited to use Rockend software - REST Professional and PropertyTree. The Rockend Property Assistants are skilled across nine fundamental areas of property management. They undergo five weeks of training and must pass a Rockend exam before receiving their official accreditation from Rockend.
