Today, the North American property management market is valued at $5 billion, which has increased 7.78% over the last year! With housing increasing in demand, this industry is only set to keep growing.
If you’re a property manager, then you know just how busy this lucrative career can be. While you’re making lots of money, you might be stressed out trying to oversee multiple properties.
If this sounds like you, then you could benefit from a virtual concierge.
What is this and what advantages come with it? Read on to find out!
What Is a Virtual Concierge?
First, let’s discuss what a traditional concierge is and does.
A concierge is someone who sits at the entrance of a building. They greet the residents and also help them with a number of tasks, such as pick up packages, make dinner reservations, and help residents with moving in and out. Not only that, a concierge will “guard” the property and keep any unwanted people out.
A virtual concierge basically takes over all of these duties, but from a distance. They work remotely and their presence is projected in the build’s lobby through a high-resolution screen and the appropriate software.
Virtual Concierge Benefits
Now that you understand what a virtual concierge is, you’re probably wondering how it can benefit you when it comes to condo management.
Below, we’ll show you what advantages come with using this service.
Reduced Costs
The most obvious benefit that comes from using a virtual concierge is that you’ll save money!
If you rely on in-person concierge services, you’ll have to pay these employees a salary, as well as benefits. Not only that, but you’ll also have to factor in costs for “small” things (such as uniforms) that’ll quickly add up over time.
In addition, it’s practically impossible to cover concierge services 24/7 with just 1 employee. You’ll often have to hire 2 or more people to make sure residents always have help whenever they need it.
When you use a virtual concierge, practically all the above issues are eliminated. Third-party services typically have a flat rate and/or subscription for pricing, and it’ll be lower than paying in-house staff.
It’ll Save You Time
To hire staff members, you’ll have to post a job listing, vet the applications, interview the candidates, and then decide on who to hire. In Canada, we have some of the fastest hiring times, but there’s still an average of 22.1 days before applicants hear whether or not they’ve got the job. So the hiring process can take you almost a month!
That’s not all though. After you’ve hired someone, you’ll then have to spend time training them to ensure your residents are happy and satisfied with the services they receive.
Should you end up with a subpar employee, you’ll then have to go through the offboarding process and start all over again with hiring.
With a virtual concierge, there’s no real downtime. If you need these services, all you have to do is speak with a company, agree on a contract, and they’ll provide you with well-trained staff who can start anytime you wish.
Instead of waiting over a month to get employees to serve your residents, you can get someone within a day! Even better is, you won’t have to worry about training them either since they’ll already come with the necessary skills and knowledge needed for the job.
Your Residents Will Be Happier
An in-person concierge can get overwhelmed with serving people, which means some residents will have to wait to speak with someone. And sometimes, they won’t have anyone to speak with at all because the hours are late. This can result in client dissatisfaction.
A virtual concierge will be available for your residents at any time of the day! So whenever they have issues, they’ll get immediate personal care and attention, even if it’s 3:00 am at night.
When residents are happy, this can reduce your churn rate and keep people in your property for longer. This has a side benefit of cutting your costs down since you don’t have to look for new tenants as often.
Manage Your Property From Anywhere
Through the concierge software, you’ll be able to manage your properties from anywhere, so long as you have an internet connection! You won’t have to worry about driving from property to property, just to check up on everything.
Instead, simply log on and you’ll be able to switch between the security cameras of each property to ensure everything’s alright.
You’ll Have Better Security
The software used for virtual concierges comes with many additional features that upgrade your security. For instance, the software can connect all of the following:
- Key management system
- Parcel lockers system
- Licence plate reader (automated)
These can replace the duties usually carried out by a concierge or security guard.
Get a Security Camera Upgrade if Needed
As we’ve just said, third-party companies provide more than just virtual concierge services. For instance, we can provide you with IT or camera upgrades, especially if you’re lacking in a system or it’s extremely outdated.
Not only can we provide these services, but they come at very attractive price points too. We have leasing options available so you don’t have to purchase a whole new system just to protect your property.
Get a Virtual Concierge Today
As you can see, a virtual concierge can provide you with all the same services as an in-house concierge, but more! Because they work remotely, a number of benefits come attached that make it more advantageous than the traditional route.
So give this virtual service a try and you’ll see what a difference it’ll make for your properties. You’ll definitely have less stress on your shoulders!
For the best virtual concierge possible, contact us today. We’ll be more than happy to discuss your needs and fulfill them!