We get asked this question a lot: how (and where) will I actually see savings when hiring a virtual property management assistant? We know that payroll costs are one of the biggest challenges property managers face when building a workforce to grow their businesses—and you've probably heard us say that hiring VAs is one of the best ways to reduce costs!
We promise that's true. So, how much can you save? How is it possible to experience savings when adding new team members to your workforce? We'll explain that today, so keep reading!
Compared to U.S. pay rates (whether for full-time or part-time help), companies will immediately notice a difference in hourly pay rates when considering property management virtual assistants. It's one of the biggest areas where businesses see savings!
For example, when hiring a virtual assistant through VPM Solutions, you can find virtual workers for as low as $5 per hour. Compare that to the average U.S. salary of $22 per hour, and you're looking at some significant savings.
When we talk about lower hourly rates for remote assistants, we often get one of the next questions: "so, low-cost must mean low-quality workers and output, right? A $5/hour worker can't possibly deliver the quality of work we expect from our team members."
Property managers must remember that hourly rates in different countries are also much lower than U.S. pay rates—but they are still competitive rates in those countries. While it can be hard to imagine making a living in the U.S. on $5/hr., in many other countries, that's a very competitive (and even sought-after) pay range based on local costs of living.
Property management company owners don't have to sacrifice quality for their property management services to save money on lower hourly rates when they hire a virtual assistant!
Lower hourly rates aren't the only savings companies enjoy when hiring virtual assistants. You also don't have to pay W-2 employee taxes, purchase equipment, or provide office space. With remote property management jobs, VAs come with their own equipment and internet service because they are independent contractors!
This means your overhead and payroll costs drop significantly when hiring remote team members vs. hiring on-site employees that work in your office.
Since virtual assistants are independent contractors, businesses don't provide the typical benefits packages that W-2 employees receive in the U.S. Think about your current costs for healthcare, paid time off, and holidays, then imagine receiving full-time work from talented team members that don't come with those payroll expenses!
However, we do like to mention that offering a few perks to VAs can help managers attract better talent more quickly and keep them long-term. Some compensation benefits can include:
Time off that coincides with U.S. holidays (make sure your VA understands that holidays and time off are not paid)
Offering stipends on a case-by-case basis to help VAs with some equipment costs (like a webcam to help them connect to virtual meetings and feel like part of the team)
Bonuses for exceeding expectations
These items are entirely up to a property manager when developing your compensation packages for real estate virtual assistants. However, with the significant savings, you'll experience paying lower hourly rates. Adding a few perks can help you build excellent relationships with VAs that become some of your best long-term team members without adding too many additional costs to your budget.
One last important area where businesses experience savings when using VPM Solutions to find and hire VAs is with platform fees!
There aren't any!
If you've used a recruiting service or other hiring platforms to scale your workforce, you know what we're talking about. Most other platforms or placement services require significant upfront "finders fees" to use their service. Before you even see any potential candidates matching your posted job description, you probably receive a bill for placement services through those platforms.
With VPM Solutions, companies don't pay any placement fees, platform fees, or any other fees (aside from a payment processing fee through our payment service). You set up a free profile, then get complete access to:
Job description templates and placement for job ads
Every available virtual assistant on our platform and their profiles (and there are thousands of VAs ready to get to work)
Our TalentMatch algorithm that delivers excellent candidate matches to your inbox based on your posted job descriptions
Our time tracking and payment system to keep track of VAs, their work, and paying them
We make it easy and cost-effective to build the team you need (while experiencing significant savings)!
We promised significant savings, and we mean it! However, to experience the best virtual talent in the property management and real estate industries, you have to create a free profile with VPM Solutions and get started with your first job posting. Start today!
Get another perspective on potential cost savings and revenue increases when downloading our free resource, "From Chaos to Clarity: A Virtual Assistant Impact Case Study."