Your most significant cost is staff, and your ultimate challenge is finding and keeping great staff with high productivity.
There are two things we’d like to talk about here. Staff loss and staff performance.
With staff loss let’s look at mitigating the risk of what happens if staff leave you for a competitor, or worse still, to establish their own work from home business.
By using a highly automated platform you’re stopping the age-old bug bear of your staff having all the knowledge of the business and your clients – if they leave not only does your business immediately descend into chaos, but soon enough a large number of your valuable landlords inevitably end up at the business of your ex staff member.
With Our.Property that knowledge, history and process is contained within the system that YOU own and manage, if someone leaves you just reassign the property and owner, and all that knowledge is available to the new person immediately. All the tasks go on regardless as the system is fully automated. For your landlords a change of staff is virtually unnoticeable.
The Landlord is used to tasks just being done by your business
On the performance side the two main reasons why property managers perform poorly and eventually leave a job are:
- The job becomes stressful when there are too many tasks to complete, too many things to remember, and too many things that need fixing because someone forgot to do something or did it incorrectly
- The never-ending grind of doing low value repetitive tasks.
Great automation like Our.Property fixes all this.
Automation completes tasks on time and to specification, every single time, with no exceptions. And your property managers are now truly managers, not admin assistants – with automation the PM’s only need to manage the exceptions.
For several years now the industry has tried to solve this problem by offshoring these low value tasks to places like the Philippines where the labour rate is cheaper. It solves some of the immediate problem but it doesn’t’ fix the issues of consistency and accuracy – it also only goes part way to reducing your costs. If a job can be offshored it can be automated.
Once you have an automated platform like Our.Property your team can start to work at a higher level of the business concentrating on valuable client interactions and meaningful asset management.
Ask yourself why is it that commercial property Asset Managers are paid so highly, when a residential Property manager is paid so poorly? it’s simple, the value added by the employee to the process. Residential Property Managers have long been tied down executing very low value repetitive tasks, this is then reflected in their perceived value, and as a consequence their pay.
When you progress to an automated system your people are now moving to high value tasks that require judgement and skill to execute. Because of the automation you need less people and you can now start to reward those you have in a way that attracts quality talent and keeps them motivated.
Have a look at this video interview with XXXXX talking about automation in OurProperty and how it helped them. <link>