How are US property management companies using remote teams in Mexico to boost their performance

How are US property management companies using remote teams in Mexico to boost their performance

Managing tenants can be challenging. It requires the right balance of exceptional service and the protection of property owner interests. While the property management industry is highly regulated, having knowledgeable employees can make all the difference between a seamless operation and a potential lawsuit.

It is crucial to have outstanding employees to run a property management company effectively—a truth that applies to all businesses. However, limited budgets often available to hire in the US property management industry result in a smaller talent pool. But don’t lose hope! The onset of the global pandemic has made remote work more prevalent and significantly advanced the technology to support it. Even after the pandemic, many companies have chosen to stay remote or adopt a hybrid work solution.

Mexico has become an increasingly attractive destination for international companies seeking remote workers. What was once limited to large call centers has now expanded to diverse industries. These companies are taking advantage of the opportunity to tap into an enormous talent pool at a cost-effective price. Additionally, the quality of education in Mexico has continued to improve, and many candidates have gained valuable experience working with international conglomerates. This experience has introduced them to up-to-date, advanced processes, making them highly qualified candidates.

In an industry such as property management, hiring nearshore can provide highly qualified Mexican candidates, many of whom hold advanced degrees, at a fraction of the cost of hiring US employees. It is essential to consider the abovementioned factors to fully understand the potential of hiring nearshore.

Growing trend of remote teams globally and the focus on Mexico

 

Enhancing Operational Efficiency

Reduced cost: The average bookkeeper in California costs around $60K, while hiring one in Mexico would cost $17K. Considering all expenses related to an employee, the hiring company is looking at saving 60% annually on most positions! Clients who have gone that route can grow their team faster or use the savings for other activities to grow the company.

24/7 service: Because of the significant cost reduction, a property management company can hire a team to respond to any property issue all day. In most cases, holding a US-based employee on night shifts will be significantly more expensive.

Scalability and flexibility: Working nearshore would allow the company to scale quickly and reduce the team size relatively cost-effectively, all based on demand and adaptation to market changes.

Improving Service Quality

Skilled Workforce: Imagine you can hire your own accountant/CPA to work internally in your company for the salary of a CPA assistant. That could become a reality by hiring nearshore. Mexican higher education is excellent and produces great professionals looking to grow and develop. Working with a US-based company is prestigious and attractive for them.

What are some of the positions one can recruit in Mexico:

Over the years, we have seen many types of positions hired for property management companies:

  • Customer Service Representative: This position handles tenant inquiries, maintenance requests, and general customer service. As it is one of the most popular positions hired in Mexico, there are great candidates with vast experience.
  • Leasing Agent: Leasing Agents manage the leasing process. Today’s e-signature allows everything to be done remotely, making it simpler and greener.
  • Maintenance Coordinator: Depending on the property size, you might need a dedicated person. His role would be to schedule and manage service requests, liaise with vendors, and ensure he addresses any maintenance issues quickly.
  • Property accountant and financial analyst: Overseeing financial operations, budgeting, and reporting.
  • Marketing Specialist: In charge of promoting properties, creating content (including social media), and updating listings online.
  • Administrative assistant: responsible for tasks like scheduling, corresponding, and data entry.
  • IT Support staff: Maintain and troubleshoot any technological infrastructure that supports remote operations.

Bilingual Support: All Mexican candidates applying to work with a US company are bilingual. This is a great advantage because many of your tenants are Spanish speakers, and working with them in their mother tongue would improve communication and your service.

Cultural Compatibility: Burritos and Tacos are part of any American life. Mexican culture is embedded in the US, but it is also the other way around. Mexicans have adopted many American habits. The average Mexican watches American football, follows baseball and travels to the US multiple times a year to meet family or enjoy a vacation. The US and Mexico are culturally connected, which makes communication very easy.

Unlike recruitment in places like the Philippines, where most employees have never been to the US and have no knowledge of the US culture, in Mexico, many times when you speak with an employee over the phone, you won’t realize he is working outside the country.

We all like to speak to someone who sounds like us and understands the nuances. We tend to get frustrated when the person on the other side of the phone sounds robotic and needs an accurate understanding of our situation. Who would you like to represent your company?

Addressing Challenges

What are some of the challenges you need to take into consideration when you hire in Mexico:

Backoffice team: For obvious reasons, all employees you are looking to hire in Mexico should be those who don’t physically need to meet clients or visit the property. Everything that can be done via computer or phone – can be done in Mexico.

Recruitment: Hiring remotely by yourself is very challenging. Your best bet would be to hire via a specialized staffing company like Wexpand. They understand your needs, the processes, and the legal framework in Mexico. The staffing company would serve as the employer of record.

Mexican culture fits vs Philippine culture

Adios America, Hola Mexico!

Now that you know the basics, it’s time to decide. Are you willing to follow in Tesla’s footsteps and other companies that have chosen Mexico for its talent pool, or stick to what you are familiar with and keep paying more for less? There is undoubtedly a learning curve to hiring nearshore, but with the help of a professional team like Wexpand, you could be ready to hire in 15 days. 

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