Case Studies

How Extenteam Helps Multifamily Property Managers Thrive

Written byextwpusr

12/29/2022

Our case study explains how our client with 3000 keys saved more than $80,000 per year, simply by reaching out to multifamily@extenteam.com.  

Due to the ongoing pandemic, multifamily operators are 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 that is 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 having to rehire as people leave for a “better job/gig” almost every other month. Retaining employees at the $35,000-$40,000 tranche of salary range had become a struggle for them.

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

  1. Application Underwriter
  2. Marketing / Newsletters editing and issuance
  3. A/R and A/P Follow up and Simple Ledger Bookkeeping

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/greet basic introduction, but also as an opportunity for our client to interview the Extenteam agent and decide whether to approve him/her. Upon our client’s sign off, all three of the Extenteam agents went through an on-boarding 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 in 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 co-located 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!

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