How Extenteam Helps Multifamily Property Managers Thrive

Our case study explains how our client with 3,000 keys saved more than $80,000 per year, simply by reaching out to multifamily@extenteam.com.  

Multifamily operators are always looking for ways to cut costs without compromising on the quality of service to their tenants. With that in mind, Extenteam is uniquely positioned to provide skilled full-time staff who are physically located outside of the United States, yet with fluent language skills and property management knowledge. Extenteam strives to create value every day by supporting clients' needs with educated and dedicated team members.  

Our agents are real people with solid career ambitions. They become an extension of your team for a fraction of an equivalent US employee's base salary, without the added burden of payroll costs that are associated with US employees.

Our client was struggling with their high overhead costs due to having to pay around $16–$18 per hour to their working staff. The cost per basic US employee for our client was typically 1.25 to 1.4 times the salary, depending on certain variables. In this case, they had several employees with a salary of $35,000; therefore, their actual costs were ranging from $43,750 to $49,000 per employee.

Another frustration point was the frequent nature of turnover of their US employees. Our client had dedicated significant resources to having to rehire as people left for a "better job/gig" almost every other month. Retaining employees at the $35,000–$40,000 tranche of the salary range had become a struggle for them.

Our client's ask was to find three full-time agents that could do the following jobs:

• Application Underwriter

• Marketing / Newsletters editing and issuance

• A/R and A/P Follow-up and Simple Ledger Bookkeeping
  
  
  

With the above in mind, we mobilized our established recruiting team overseas and went to work to find the best fit possible for our client's needs.

Within just two weeks, we had conducted our own vetting and completed internal interviews of a handful of candidates, putting them through our own performance evaluation tests, and presented their resumes to our client.

We then introduced the prospective job candidates to our client via three separate Zoom meetings. These meetings served not only as a meet and greet with a basic introduction, but also as an opportunity for our client to interview the Extenteam agent and decide whether to approve him or her. Upon our client's sign-off, all three of the Extenteam agents went through an onboarding process. This included assigning our agent the client's company email address as well as a local area code phone number, virtually making the Extenteam agent part of our client's organization. We pride ourselves on providing a seamless, hassle-free transition for both our clients and our agents.

Now, with their specific tasks and training with the client underway, our agents started working on the client's needs immediately without the financial burden or time commitment of an in-house colocated employee.

Our Extenteam agents are currently saving our client around $23,750–$28,500 per employee, totaling more than $80,000 in total net savings per year. This particular client is looking to increase the number of Extenteam agents within their organization to realize even more savings.

Our client's CEO stated: "Sending one email and letting Extenteam get to work was my best decision in 2020." We are pleased to have assisted with our client's needs and look forward to being of service to you as well!