February 21, 2024

The Benefits of Hiring a Virtual Assistant to Manage Your Rental Properties Remotely

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Being a landlord isn’t an easy profession. Most face work problems that regular employees don’t have, such as a lack of benefits and a 24/7 work schedule. Renter problems can also arise at any minute. It’s even more stressful for landlords who run multiple properties, with most of them relying on remote management methods to cope with the workload. In cases like these, a virtual assistant definitely comes in handy.

A virtual assistant can help lessen your workload and save on expenses, sometimes reducing operating costs by up to 78%. They essentially carry out the responsibilities of an administrative assistant but remotely. They can maintain filing systems on confidential renter information, as well as manage accounts. They can also be in charge of answering correspondence you may have and coordinating with any concerned individuals. If you need more convincing, here are a few more reasons why having a virtual assistant is highly beneficial.

Rent collection and bookkeeping

One of the most stressful parts about being a landlord is collecting rent every month. It’s very common for tenants to be late on rent payments and it’s up to the
landlords to constantly remind them or try to find a compromise. Having a virtual assistant reduces the gravity of this problem, as it’ll be their duty to charge your renters. They can also handle basic bookkeeping duties to keep your business’ finances organized. With the help of virtual assistants, you’ll have more time to address other aspects of your rental properties.

Repairs and maintenance

Most real estate experts recommend setting aside 50% of rental income for property repairs and maintenance, highlighting just how troublesome this part of being a landlord is. Additionally, these can be very time-consuming as you have to find people who can fix said problems in your properties. Getting a virtual assistant to find maintenance specialists and handle the scheduling saves landlords time and stress. It can also boost your rental property business as you can respond to maintenance issues much faster with the help of a virtual assistant.

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    Tenant concerns

    Landlords know that unexpected renter issues are just part of the job, and most of the time, they end up being very costly and urgent. It’s a full-time responsibility that can be unsustainable for many, more so if they have multiple rental properties. Finding a virtual assistant makes this workload more feasible, especially on days when it seems like all the issues across your properties are happening at the same time. You’ll have the help of someone who can arrange your calendar to ensure that you address all of your renter’s concerns in a timely
    manner.

    Customer service

    Apart from communicating with tenants, landlords also need to interface with potential renters. This can be through various modes of communication, whether via email, landline, or social media. Paying attention to this part of the business is crucial as it can determine your next clients. To help with this, virtual assistants can essentially do the duties of a customer service representative. This means that they can answer any questions that your audiences may have and redirect them to you with all the essential information should they choose to rent out a property.

    Website management

    Nowadays, having an online presence is integral for any business to succeed. This requires constant monitoring as it’s a way to convey any updates to your potential renters and tenants. You can also use your website to post listings of any properties that are in need of residents. A virtual assistant can aid in keeping your online pages working and updated. Through them, you can easily convey any developments, notices, or announcements about your rental properties. By getting a virtual assistant, you’ll have a smoother time managing various aspects of being a landlord and can better reap the benefits of your hard work.

    This post is for informational purposes only and does not serve as legal, financial, or tax advice. Consult your own legal, financial, or tax advisor for matters mentioned here. The information on this site is general in nature. Any description of coverage is necessarily simplified. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions and limits of the actual policy. Nothing on this site alters the terms or conditions of any of our policies. You should read the policy for a complete description of coverage. Coverage options, limits, discounts, deductibles and other features are subject to individuals meeting our underwriting criteria and state availability. Not all features available in all states. Discounts may not apply to all coverages. Steadily is not liable for any actions taken based on this information. If you believe any of this information may be inaccurate please contact us.

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