Why property management businesses need an answering service.

Homeownership is out of reach for many Canadians in this day and age. The cost-of-living crisis is forcing people to rent as buying a home is tough in the current climate. So, property management services are in high demand.

Property management companies have stiff competition with each other as it’s a lot of work to manage properties. There are tenants and landlords to look after. And lots of rules and regulations to follow. The phone never stops ringing…

The problem? Many property management services only answer calls within office hours. And calls don’t stop just because you’re closed. Emergencies can – and do! – happen at all hours. Burst pipes, burglaries, tenants needing help as they’ve locked themselves out, etc. 

Emergencies require an immediate response, not a voicemail machine. Plus, research from Forbes found that around 80% of customers won’t leave a voicemail anyway. 

Effective communication is key because problems pile up when it’s poor. It may feel like a big ask to answer calls 24/7, but it’s much easier than it sounds.

The need for property management answering services

Answering services take incoming calls on behalf of other companies. They have teams of well-trained, friendly receptionists available 24/7. Customers won’t know they’re talking to an outsourced service as they follow customized brand scripts. They sound just like you.

Most businesses only have customers to look after. But property management teams have a lot more to manage. It’s complex at the best of times. A property management answering service can help by ensuring communication lines stay open 24/7.

Common challenges for property management companies:

• Tenant issues: The majority of phone calls come from tenants. Payment issues, break-ins, maintenance requests, needing someone to let them in as they’re locked out, etc. 
• Property maintenance: Properties require regular checkups for boilers, HVAC equipment, etc. And unfortunate issues like leaks, termites, and pest infestation require urgent attention.
• Regulatory compliance: Rules and regulations require close attention as they’re always changing. Safety standards, fair housing regulations, and landlord-tenant laws must be adhered to.
• Finance management: Property management must collect rent payments and provide all financial reports to landlords. It’s your job to keep the process simple for them; they should only be contacted if it’s necessary.
• Managing systems and technology: Managing appointments, emails, payments, and contracts all day gets overwhelming. You need an effective system so staff can focus on doing their jobs without losing time and energy to tech issues.
• Risk management: You need to carry out frequent inspections to assess potential risks that could affect tenants, the property, and the landlord.
• Industry competition: Landlords and tenants need to trust their property management service. If tenants get fed up, they may look to live somewhere else. The same goes for landlords. They may look for another service if their current one can’t provide stability.

How answering services benefit property management services

24/7 answering services offer property management businesses more than just answering calls. They can improve your entire workflow.

The benefits of a 24/7 answering service:

• 24/7 availability: Friendly virtual receptionists can take calls outside of office hours and action protocols around the clock. This stops your mornings from getting derailed by a backlog of voicemails from annoyed customers who tried to call you outside office hours.
• Provide 5-star customer service 24/7: Tenants can speak to a friendly and well-trained receptionist no matter what time they call. This 24/7 availability provides a professional touch and builds trust as tenants know help is at hand. Always.
• Provide an out-of-hours emergency service: Answering services can handle emergency cases so you don’t need to worry about neglecting tenants when they need you the most. Receptionists can follow your protocol to ensure tenants get help ASAP.
• A streamlined workflow: Tedious tasks can be taken off your hands. Answering services can transfer calls, set appointments, and offer integrations to push phone call information straight to your CRM after the call ends.
• Reduce costs: Hiring additional in-house staff requires advertising, interviewing, and training. It takes a lot of time and money. Plus, it’s difficult to maintain the right level of service. Answering services are more convenient, cost-effective, and flexible than hiring internally.

Evaluating answering service providers

Answering services have been around since the 1940s as their ROI is undeniable. There are many to choose from but property management answering service experience is key. There are many types of calls to expect. And each of them has a unique protocol to follow.

The last thing you need is an answering service that takes calls… yet doesn’t seem to make you any more productive! And that can happen with basic answering services that lack your industry’s experience and a good level of customization.

Look for a property management answering service with:

• A proven track record: Your reputation is too important to take chances with. Look for positive reviews on websites such as Trustpilot, G2, and Capterra.
• Call routing: A lot of phone calls require immediate action, so you need efficient call routing to avoid making situations any worse.
• Customized brand scripts: Callers should never feel like they’re talking to an outsourced team. Brand scripts ensure every virtual receptionist answering the phone on your company’s behalf sounds just like you.
• Flexible & simple contracts: A business’s needs change over time. Look for a contract that’s easy to understand and provides flexibility, so you can upgrade/downgrade your plan at any time. 
• Integrations: A property management answering service should have integrations to connect with tools you already use. These are quick to set up and can automate tedious tasks such as data entry.

Calculating ROI for your answering service

Every call matters. On average, 49% of customers have left a brand in the past 12 months due to a bad customer experience. You soon see how costly missed calls are when you work with an answering service.

How to calculate the ROI for an answering service:

• Define objectives: What are some problem areas caused by poor communication that you’d like to improve? (Customer service scores, tenancy retention rates, etc.) Write them down so you can measure them.
• Identify Key Performance Indicators (KPIs): Measuring ROI is simple once your objectives are defined. List your current tenant retention rates, satisfaction scores, maintenance response times, etc.
• Compare before and after: Break down the current cost of service and KPIs before working with a property management answering service. And then do the same each month after working with one. Review KPIs to see how the benefits of an answering service balance against the costs.

The short-term and long-term benefits of a property management answering service

You start seeing the benefits immediately. Communication improves right away. And your team will see productivity improve as they have fewer calls to answer. They will also have fewer interruptions to their schedule. 

In the long term, you should see improvement in your KPIs – tenant retention, more positive reviews, and greater company-wide productivity, etc. You can continue to adjust how you work with your answering service as you go. Once you’ve got used to working with one, you can start to adapt your way of working for the better.

Getting started with a live answering service

Answering services should always adapt to your way of working, never the other way around. Every answering service worth its salt has an onboarding process to help you create a more productive workflow with a minimal learning curve.

1. Integrate with existing systems: Answering services will learn about your current systems to see how they can improve your workflow. This is the advantage of choosing a company with experience in your industry as they offer integrations for the tools you already use.
2. Onboard staff: Show your team the new and improved workflow. 
3. Provide effective feedback: It’s normal for answering services to make adjustments after a few weeks or months. Protocols may change or you can introduce more integrations to improve the workflow.

How to get the most out of your answering service

1. Create a long-term strategy for success: View your long-term business goals and see how your property management answering service can be part of the plan that helps you achieve them. Share your long-term business goals with your answering service too, so they can help you create a workflow.
2. Continuous improvement: It’s common for answering services to evolve as your business grows. Even when you’re seeing results, there’s still room for improvement.
3. Metrics for success: Define your KPIs so you have an easy way to measure the value you get from your answering service.

“Good results and easy to manage the account. I have had consistently good and predictable results using AnswerConnect for my real estate business.” – Kevin Farell, Farell Properties LLC

Effective communication is the difference between an efficient service and a chaotic one. An answering service can help you provide great customer service 24/7 to improve communication, customer satisfaction, and reputation. 

Want to see how AnswerConnect’s property management answering service can improve communication and productivity?