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The outsourcing guide for landlords

Posted on Tuesday, 03 June 2014 06:20PM by Artful Lodger
If you are a landlord, then you are already well aware that it can be a challenging task. Managing multiple properties and tenants can be very tedious, time consuming and often stressful. But the truth is that it doesn’t really have to be this way. The problem is that many landlords take on a large number of tasks that are really meant for an entire group of people. They end up being the landlord, the fix-it person, the banker, the electrician, etc. Having properties all over town and keeping up with everything is nearly impossible.
Fortunately there is another option available to landlords and that is to outsource some of the work. This has the benefit of simplifying tasks, and lowering workload, thus allowing them to focus on what they really need to be doing.

Why outsource?
Outsourcing is something that many small businesses turn to when they need tasks done that they can’t currently manage in-house. As a landlord, you can use this same strategy. Rather than trying to wear every hat, pick the tasks that you really need or want to do. Perhaps as the building manager, you’re responsible for collecting tenant rent and making sure everything is up to speed. But if there is a maintenance issue within the building, you might not have the time or even the know-how to fix it. You don’t need to be a construction professional, an electrician and a landlord all in one. These are tasks that you can outsource to professionals to do for you.
Outsourcing might not seem cost-effective, as you now need to hire an outsider to take over tasks that you’ve been doing yourself. But don’t undervalue your time and energy, and think about how much more efficient you can be if you don’t have to worry about all these tasks that aren’t in your field of expertise. The fact is, there are plenty of people who are experts at these other things, and who can do this work for you at a good price. You don’t need to spend an exorbitant amount of money hiring an electrician or a construction person to help you out with your properties. If you bring them in on a contract basis, you will likely be able to agree upon a reasonable rate. For example, if you have a toilet that is broken, you can have a contract plumber on call who you can bring in to fix it and just pay him a rate for that project.

How to outsource
In order to get started outsourcing, you’ll first need to get a hold of professionals in the area you want to hire. This could include construction, plumbing, electricity or even tasks such as your administration and taxes. Really, this can include anything that you don’t have time to do, or aren’t particularly keen to become an expert at. Having an administrative assistant can be extremely helpful for many busy landlords. This person can handle all calls coming in and manage tasks to free up your time to do what you need to really be doing. You can find available professionals online, at an umbrella company such as a PAYE umbrella company , advertising the position locally, or just seek this through word of mouth.