One of the best ways to keep all your properties updated and in good condition is to work with a property management virtual assistant. Why? Because you can use an assistant to help you with maintenance requests, tenant concerns, move-in and move-out upgrades, and much more. Knowing you have an assistant you can trust matters since you want to be able to work with them for the long term, if possible. The more you build a good relationship with your assistant, the more they can help you.
What is a Property Management Virtual Assistant?
A property management virtual assistant is an assistant who works virtually, and not in person. Additionally, these assistants have special knowledge of real estate and property management, in order to provide you with the biggest benefits and highest level of support. While it’s possible to hire a standard virtual assistant and train them on the ins and outs of property management, it’s often easier if you have someone who already has the kind of knowledge you’re looking for.
When you choose a property management virtual assistant, it’s very important to make sure you’re getting one that has the kind of knowledge you’re expecting. That could vary depending on the kinds of properties you want to be managed and updated. Single-family homes are very different from apartment buildings, and both of those aren’t the same as commercial or industrial spaces. Many virtual assistants are familiar with all types of properties, but some are more specialized, which can add to their value.
How Does a Virtual Assistant Help You?
There are many ways that a property management virtual assistant can help you. The biggest way is by taking a lot of the stress and pressure off of you. Your assistant can handle maintenance requests and consider the timeline since the last updates to the property. By looking at both of those areas, you can have an assistant who will give you information about updating and making improvements. It’s easier to keep your properties updated that way, and also to keep them in good repair for new tenants.
As you work with your virtual assistant on property management goals, make sure you’re clear on the expectations you have for them. You may also want to talk to them about additional tasks or considerations, so they feel comfortable coming to you with thoughts and ideas for property updates that could improve value. You want people to look at your properties and show interest in them, and that’s much easier to accomplish when those properties are in great shape and up-to-date as much as possible.
What Kinds of Properties Do You Have?
The kinds of properties you have matter when you’re looking for a property management virtual assistant. Commercial properties need different kinds of updates than residential properties require. They may also need updates more frequently, depending on the specific tenants you have and the exact type of property. A warehouse, for example, isn’t going to require the same kinds of updates as a retail storefront. Keeping that in mind can help you find the right assistant for your needs.
When you work well with a property management virtual assistant, you can become a team that can get more done. Accomplishing more means higher profits, and also means better value for you and for anyone who rents your properties. If you want to continue to build your investment portfolio, working with a good virtual assistant who can stay on top of updates is among the best ways to do that. You might also want to expand into different kinds of properties, and you want an assistant who will grow along with you.
Why Does Updating Your Real Estate Matter?
Updating your real estate matters for a couple of reasons. First, you want to attract tenants or buyers (or both). The best way to do that is to have quality properties that people are interested in. When properties are updated well, more people see those properties as being desirable. That can mean you can charge more for rent, or sell those properties for a higher price. Keeping people comfortable in the properties you rent to them may also mean that they’ll stay there longer, which can be good for stability.
The second reason you want to update your real estate is that it raises the overall property value if you plan to sell. The better you maintain and update your properties, the more they’ll be ready to put on the market at any time. If you see a good reason to sell some of them, and the market is increasing for you, it may be time to focus on listing them. Updated properties are going to sell more easily, and for a higher price point, than properties that haven’t been updated and that need a lot of work to be sale-ready.
Choose the Right Property Management Virtual Assistant
Before you choose a property management virtual assistant, consider what you’re looking for. You want to find one that’s going to meet your business needs, but also someone you can get along well with. Since you’ll ideally be working together for a long time, you want to choose an assistant with a personality that works well with yours. It’s not necessary to be friends, but it’s definitely important to have good interactions and focus areas where you both agree.
You can interview several virtual assistants with property management experience, and that will make it easier to locate people who could be a good fit. Working with an agency can really benefit you because it can give you access to a property management virtual assistant pool you can choose from. When you have more options, you can be more specific with what you want and need in your assistant. That can help you find the right person, and also help the assistant feel good about the working relationship. Then everyone wins, and your properties will be in good hands.