The property management industry in Melbourne has had a tough few years. Incoming and proposed legislation has increased administrative task requirements for property managers which has directly impacted profits. 

Property managers who previously had the ability to handle more than 100 PUMs are finding themselves spread increasingly thin as they try to manage the integration of new legislative requirements. 

With returns beginning to diminish, some rent-roll owners are thinking of selling. However, if you’re organised and forward-thinking, you have the potential to create a ‘well-oiled machine’ to reduce stress and workload for your team and maximise your returns. 

Here are five ideas to free up your property managers’ time so you can expand your rent roll without relying on additional headcount. 

1. Integrate AI 

One of the quickest ways to reduce the workload for your property management team is by implementing AI chatbots to handle renter and property owner enquiries. When set up correctly, chatbots can interact online and even ‘speak’ to people over the phone. They create a 24/7 call centre for your business and a scenario where nobody is ever left waiting for a response.

Some tips for chatbots:

• Be transparent so people know they are interacting with a machine

• Have a straightforward process to connect with a ‘real person’ if needed

• Give your chatbots responsibility to answer basic questions such as sharing information about inspection locations and times

• Use data gathered by chatbots to improve your business (for example, if one question comes up repeatedly, add a page to your website covering the subject)

• Set up your chatbots so they direct qualified leads to your team

A consultant can help you set up your Chatbot relatively quickly, or you can appoint an AI ‘champion’ in your business who is interested in this technology and can integrate the latest innovations, such as AI agents. 

Your team should be using AI each day as well. While copying and pasting ChatGPT text is never a good idea, AI will get them ‘off the blank page’ when creating property descriptions or responding to emails. Create a policy and some guidelines for using AI and encourage your team to leverage this (mostly) free resource. 

2. Outsource administrative tasks to offshore teams

Outsourcing administrative work to offshore teams can significantly cut costs and free up time for your in-house staff. Tasks such as data entry, compliance tracking and document preparation can be handled remotely by skilled professionals in countries, and can cost as little as $2,000AUD per month per headcount. 

In a period when finding locally-based property managers is difficult, and even admin staff are hard to source, bringing in an offshore team can be a game-changer. Connect with a Business Process Outsourcing (BPO) company to explore your options; you can start by introducing one or two people and then expand as rapidly as you need to. 

3. Automate client follow-ups and notifications

Automation tools can streamline communication with your renters and property owner clients. For instance:

• Automated email reminders can notify renters of upcoming rent payments or lease renewals.

• Property owners can receive real-time updates on maintenance requests or compliance reports.

• Follow-ups for overdue payments or unresolved issues can be triggered automatically.

Again, you may need a consultant or a ‘champion’ in your business to oversee automations. It can take some upfront investment but significantly reduces time spent corresponding with clients. 

4. Restructure your team

In most businesses, there are people who don’t have enough time in their day and others who find themselves wondering what to do next. 

Speak to your staff to figure out who is overloaded and who could potentially take on more work. Those who are flat out will appreciate the opportunity to explain what is causing them the most stress. You may decide to rearrange teams into ‘pods’ or give people more specific responsibilities. 

On this note, it might also be a good idea to restructure your client base. People often talk about 20% of clients taking up 80% of your time. Getting rid of problem clients might solve productivity issues and have the flow-on effect of maximising returns from your existing PUMs.  

5. Create a ‘source of truth’ for your clients

How easily can your renters and property owners access answers to their questions? Do they always need to call and speak directly to your property managers? If so, they are losing a lot of time in their day. 

A handbook, FAQ section on your website or area in your client portal can take the pressure off your busy staff. If you don’t already have an online portal for your clients to access, consider investing in one. This can do so much to free up time. 

6.  Set clear KPIs and provide incentives for achieving them

Staff can be busy but unproductive if they don’t have clear goals and they don’t really know what is expected of them. 

Set KPIs and ask your staff to track their activity so they always take care of the highest priority tasks. If they’re failing to meet their KPIs, you can assess why things aren’t working and plug the gaps. 

Make your KPIs specific and tied into the success of the business, and ensure your team is empowered to achieve them. You can offer incentives so they have something to work towards. 

7. Create systems and processes

How much time is wasted in your business because people don’t know what to do? 

Systems are basically instructions and if you create a central hub for them, it will make life a lot easier. 

Whenever a team member completes a task they or someone else will have to do again, get them to create instructions, either by recording their screen using Loom or similar software, or by taking notes. This way, a new hire won’t have to ask.

Once you have established an efficient property management department, you can replicate your success and begin to scale by acquiring other rent rolls.