Feeling overwhelmed by the challenges of scaling your property management business? You're not alone. Many property managers get stuck, struggling to manage more properties, keep up with tenant needs, and handle all the repair requests. But the good news is, it doesn't have to be permanent. Find a virtual assistant agency instead.

In this post, we'll reveal three common but often overlooked issues that could be stifling your growth. More importantly, we'll provide actionable tips to overcome them and set your property management business on a path to success. Keep reading!

3 Reasons Your Property Management Company Isn't Scaling

1. High Client Turnover

A primary indicator that your property management business is not growing as it should is an increase in customer attrition. Maintaining your existing client base is crucial. Remember, it’s 5 to 6 times cheaper to keep an existing property owner than it is to find a new one. When clients consistently leave, it suggests deeper issues that need immediate attention. 

Why Are Your Clients Leaving?

Slow Responses

No one likes to be ignored. When clients have questions or concerns, they expect timely answers. A delayed response, even if unintentional, can make clients feel undervalued and raise doubts about your professionalism.

Tenant Complaints

Tenants usually notice any lapses in property management first. Being unreachable during emergencies or delays in addressing repair requests can lead to an increase in tenant complaints. These complaints often reach property owners and can prompt them to reconsider their management options.

Longer Vacancies

An essential role of property managers is to minimize vacancy periods by effectively marketing and filling open units. Extended vacancies can be a significant financial strain, prompting property owners to question the effectiveness of their current management.

No Updates

Clients want to stay informed. They want to know about property updates, maintenance issues, and any changes that might affect them. When information is lacking, it creates uncertainty and can lead to misunderstandings.

Here are some ways to prevent client attrition:

Be Responsive

Responsiveness is key to maintaining trust and satisfaction in property management. Slow responses or worse, no response at all, can make property owners doubt your management capabilities. Consider hiring a property management virtual assistant to manage communications efficiently, ensuring all client inquiries are addressed promptly.

Rent Homes Faster

Extended vacancies lead to dissatisfied property owners and cause them to seek management services elsewhere. So make use of virtual showing services to widen your audience reach and rent homes faster. This allows potential tenants to view properties online conveniently. Optimize these virtual tours for better search engine visibility to attract more prospective renters.

2. Doing Everything Yourself

Studies show that average business owners spend 4 hours on repetitive administrative tasks a day. This includes responding to emails, answering phone calls, handling paperwork, and other administrative duties that anyone else can quickly handle with proper training. These time-consuming, energy-draining tasks might be what’s holding back your business growth. 

Delegating these routine tasks to virtual assistants might be your key to scaling your business without hurting your bottom line. This will not just free up your time, but it can also maximize your staffing budget. By entrusting repetitive and time-consuming tasks to your lowest-paid staff, you can focus your energy and resources on strategic growth activities. 

Here's why getting help from a virtual assistant agency can benefit your business:

Never Miss a Call

VirtuallyinCredible assistants are backed by our Phone Tenders 24/7 Call Center. This is how we ensure that every call in your office is answered. With this, you don’t have to be tied to your phone anymore. We handle your calls while you focus on the growth of your business.

Industry Knowledge

With our training, your Virtual Assistants will have a solid understanding of the property management industry. They can effectively communicate with owners, tenants, and vendors. This expertise helps you maintain high standards in customer service.

Manage More Doors With a Virtual Assistant Agency

With administrative tasks off your plate, you can focus on expanding your portfolio. Your expert virtual assistants will allow you to oversee more properties efficiently, without compromising on service quality.

Cost-Effective Staffing

By offloading routine tasks to virtual assistants, you utilize a lower-cost workforce for day-to-day operations, allowing you to allocate more resources to areas that drive business growth.

Strategic Task Offloading 

Delegate routine but essential tasks to your lowest-paid staff capable of handling them effectively. This includes:

• Handling routine inquiries and communications.
• Scheduling and calendar management.
• Basic administrative tasks like data entry and report generation.
• Managing property listings and updates on rental platforms.
• And any tasks that can be done over the phone or online.

By outsourcing these tasks to Virtual Assistants, you concentrate on strategic growth initiatives such as expanding your property portfolio, enhancing tenant acquisition strategies, and exploring new markets.

3. Negative Reviews

Negative reviews can be a significant barrier to the growth of your property management business. Considering that 69% of potential tenants review ratings and feedback when choosing rental homes, and 84% let these reviews influence their leasing decisions, it’s clear that your online reputation directly affects your market performance.

Luckily, there’s a solution. Here’s how to get more positive reviews for your property management company:

• Always Be Available: Make sure someone is always there to answer calls or messages. You can use a call center or hire virtual assistants so no call or message is missed.
• Fix Things Fast: If something is broken, fix it right away. This shows that you care and stops bad reviews before they start. To ensure immediate action, consider hiring a virtual maintenance coordinator who can expedite repair processes efficiently.
• Be Transparent: Before someone rents from you, show them exactly what the place is like. You can use video inspections to document the real condition of the home. This way, there are no surprises that might cause bad reviews later.

Grow Your Property Management Company With Our Virtual Assistant Agency!

If you're ready to take the next step and transform your property management business, consider partnering with VirtuallyinCredible. Allow our virtual assistant agency to help find the right people to handle those time-consuming tasks that are holding you back, freeing you up to focus on what truly matters – growing your business and providing exceptional service to your clients. Book a demo now for a more efficient, profitable, and scalable business!