Maximizing Tenant Satisfaction and Operational Efficiency: The Impact of Call Center Services in Property Management

Property management is a highly competitive market and, according to IBISWorld, in the USA its revenue grew at a CAGR of 0.5% in the past year, reaching an estimated $119.1 bn in 2024 , showing that the stakes are indeed high and demand stellar services.

But What Does Property Management Involve and Why Should You Outsource Services?

Property management involves different responsibilities and tasks related to the operations that managing a property requires, from administrative to maintenance tasks and services coordination to creating rental agreement templates.   

The idea behind outsourcing for property management to a business service provider is delivering exceptional tenant experiences while managing operations to achieve long-term success. As property management companies handle a multitude of responsibilities the integration of call center services has become a game-changer for tenants and also improved operational efficiency and cost-effectiveness. 

In this article, we will take a look at how call center services can revolutionize property management operations, making them smoother and far more efficient. 

We’ll also explore the benefits that Virtudesk, the ultimate leading provider of business service outsourcing brings to the table.

Improving Tenant Satisfaction through Call Center Services

Tenant satisfaction is the core of any fruitful property management. To make a significant impact on tenant retention and overall property value it is essential to provide prompt and professional handling of tenant inquiries, maintenance requests, and complaints.

Call center services provide a robust technical platform and trained call center representatives to manage these interactions with efficiency and professionalism, ensuring that tenants receive the support and solutions they need, whenever they need it.

According to a property management report from Buildium, in 2020 there were already more than 280k  property management companies in the US, and 80% of the property managers were directly involved in the maintenance and repairs coordination and the collection of fees and rents as well, to mention just a few. In such a competitive industry that produces more than $88bn yearly, outsourcing services has become a necessity to grant what your clients require from a property management company: fast, reliable, and cost-effective solution. This can be the opportunity for property management companies to stand out by offering superior customer service through top-notch call center solutions.

By offering 24/7 contact center support, property management companies ensure that tenants are never left waiting for any kind of assistance. Whether it’s a maintenance request late at night or a routine inquiry during daylight, call center agents are trained to handle all scenarios with absolute professionalism and empathy. 

The constant availability increases tenant satisfaction and builds trust and loyalty: both of which are crucial for retaining tenants and reducing attrition rates. Here is where Virtudesk can become the decisive partner for your business success.

Streamlining Property Management Operations

Operational efficiency is critical in property management, and call center services play an unrivaled role in streamlining them. Property managers often face challenges such as handling high volumes of tenant communications, maintenance requests, and coordinating with contractors. By outsourcing these tasks to a specialized call center, property management companies can alleviate the load on their in-house teams, thus focusing on more strategic activities.

Moreover, the call center industry is expected to grow steadily, driven by the increasing demand for customer service outsourcing across various sectors, including property management. This growth is a clear indicator of the industry's effectiveness in improving operational efficiency and customer satisfaction, the two pillars.

At Virtudesk, our call center services are designed to handle a wide range of property management tasks, from managing incoming calls and inquiries to coordinating maintenance schedules and providing after-hours support. This means that tenant needs are addressed promptly and the administrative load on property managers are reduced.  

Cost-Effectiveness of Call Center Outsourcing

One of the most convincing reasons for integrating call center services into property management is the potential for cost savings. Setting up and maintaining an in-house call center can be exorbitantly expensive, mainly for small to medium-sized property management companies. Hiring, training, and retaining staff, as well as investing in technology and infrastructure, add up and usually require huge upfront investments.

According to Forbes Advisor, call center services costs varies widely, as the call center will charge based on where their agents are located and on the services your company is contracting. For example, an agent in the Philippines,  India or Pakistan would charge between $6 to $9 per hour, but a rough average charge for the United States is about $26 to $30 per hour for basic services. For highly trained specialists like registered nurses or licensed insurance agents, the cost for a U.S.-based agent can escalate to $30 – 50 per hour to handle inbound calling workloads. Remember, though, that call center agencies bill only for their productive time– about 85% of the hour's duration is consumed as such. On a practical note, this would come to about $21.25 per hour after an outsourced agent, while the in-house counterpart will charge about $25 per hour. 

This difference alone can save your company up to 15% on its payroll. Now, see how much you can save if you use Virtudesks’ services. Saving this money property management firms can reallocate resources to other critical areas, such as property upgrades or marketing strategies and have access to their own team of trained and experienced call center representatives, with the additional advantage of not having to face the costs of maintaining an in-house team. 

 Virtudesk offers you will find flexible pricing models, letting you choose the level of service that best fits your budget and needs. This scalability ensures that companies can adjust their call center services based on demand, whether it’s during peak seasons or for regular ongoing support.

Key Features to Look for in a Call Center Service Provider

While choosing a call center service provider, property management companies should take into consideration some key features that will actually provide them with the best of all services. Some of these features are:

24/7 Availability: The support should be available around the clock to address tenant inquiries and problems without leaving any call unattended.

Experienced Agents: The kind of interaction a customer receives from a call center depends on the hard and soft skills of the agents. One would always want to go with a provider that constantly invests in training and retraining its staff for professionalism in handling most of the scenarios.

Advanced Technology: A top-notch level call center should use state-of-the-art technologies, advanced systems of call routing and CRM integration, in a seamless manner.

Customization and Flexibility: Every property management company has unique needs, so it is important to work with a call center provider that offers customized solutions based on your particular operational requirements.

Data Security and Compliance: In this sensitive field, ensuring that the call center has strict adherence to data security protocols is absolutely non-negotiable.

Call Center Services in Action

According to a report published by Global Strategic in 2022, property management firms outsource business processes to reduce costs. Moreover, they suggest outsourcing to the Philippines can reduce labor costs by more than 50% and increase efficiency. 

As a property management company grows, it often faces increased challenges such as higher labor costs, heavier workloads, and staffing issues. According to Statista, 44% of real estate firms address these challenges by outsourcing tasks related to document management and back-office operations, being call center outsourcing one of the main tasks. 

What is more, in Deloitte's Global Outsourcing Survey 2022, respondents were asked about their organization's perception of the benefits of outsourcing. Of those surveyed, 65% indicated that outsourcing allows them to focus on core functions, while 63% highlighted cost reduction as a major advantage.

But that is not all, there is more to why property management companies are outsourcing call center services among other business processes. As published in the Smart  Business Sourcing Strategies white paper, adopting digital tools and implementing an omnichannel strategy is one challenge; effectively integrating new technology into processes and ensuring that people are equipped to use it is another. In an April 2020 survey by Harvard Business Review Analytic Services, 68% of the 400 executives surveyed reported that incompatible systems and technologies contribute to complexity within their organizations. Additionally, 67% acknowledged that IT complexity frustrates or confuses employees, and 43% noted that it diminishes the quality of customer experience or service provided by their organization.

Whether it comes to reducing costs, scalability, professionalism, and cutting-edge technology, Virtudesk has you covered!

Addressing Common Concerns About Call Center Outsourcing

While there are a number of obvious advantages, many property management companies still hesitate at the idea of outsourcing their call center needs. 

Their two main fears are:

• losing control over how tenants are interacted with 
• that the agents would not have a firm grip on the company's operation or culture. 

However, these can be taken care of by making appropriate selections of service providers. 

At Virtudesk, we aim to curb these by offering dedicated account management, where the whole team assigned to a property management company will deal with all interactions for that specific company. That way, agents are very alike with the policies, procedures, and culture of the company. This is also supplemented by regular reporting and open communication channels, which in turn will guarantee that the ultimate control over their operations is retained by the property management companies, yet reaping the benefits of gaining the efficiency and cost savings of outsourcing.

Conclusion

Property management operations could not be considered competitive or complete without call center services integrated into them. Call center services will change the way that property management companies perform, leading them to increased tenant satisfaction and operational efficiency through low-cost solutions.

With vast experience in providing a full range of services, Virtudesk is the partner you can trust. Are you looking to upgrade your property management operations? Let us help youGet in touch with us now to learn more about how our service will make a difference to your business. Dial + 1(800)470-8136 or schedule a free discovery call and let your business