White Label rental property management companies boost
profits & irradicate cost.
With more than 10 estate agencies per week going bust, it’s
fair to say that Covid-19 has changed everything for estate agencies and rental
property management companies. Only the fittest will survive so right now, it’s
all about growth. But growth comes with cost, particularly in the lettings
industry. More admin staff, more fees, more everything except sales.
Some argue that the days of the high-street estate agency
are over, but I doubt that’s the case – at least in the near term. We’re about
to see one of the most significant shakeouts the property market has ever seen.
The question is how can you grow without increasing your overhead costs
disproportionality?
Increasing lettings is a great way to improve your regular
turnover and help protect your business from short term impacts such as the
pandemic. No matter how attractive the additional revenue may be, property
management comes with a LOT of administration and associated costs. People,
subscriptions, licenses … it’s a long list. You may have some capacity in your
team, but how much? The solution is to remove the burden of property management
from your business. But, what about profits I hear you say. Let’s be clear, removing
the burden doesn’t mean removing it all together, it simply means letting go of
the administration and outsourcing that aspect of your lettings business to one
of the new breed of rental property management companies.
Not only will outsourcing allow you to hire more fee
earners, you won’t have to worry about scale. Take on as many properties as you
can close, knowing that the outsource agency can expand to fit your growth. It
is possible to increase your net profit from lettings by as much as 40% the
second you outsource to one of the new rental property management companies.
But add to that the increased profit from more sales. It’s not hard to see how growth
won’t come with the usual cost burden and administrative headache.
It’s a no-brainer. Outsourcing may be a new concept to you,
but I see it as the only viable solution for agency owners who need to increase
the footprint of their agency. Of course, not all outsourced rental property
management companies are the same. By far the best option is to find a partner
who offers a white label service. This will give you the best of both worlds,
increased revenue without ever diluting your brand.
PPM was one of the first companies in the UK to offer a
white label property management service. Outsourcing will transform your
ability to sell more, while simultaneously delivering a superior standard of
property management for your landlords and tenants.
