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  • Jumpstart Your Q1 Hiring in Property Management

    As we embark on a new year, property management professionals are gearing up for a busy quarter ahead. If you're looking to revitalize your hiring efforts in Q1, partnering with an expert staffing firm could be the game-changer your organization needs. In this blog, we'll explore some tips to prepare your Q1 hiring strategy and the key benefits of seeking external support to elevate your property management team to new heights. Strategizing for Q1 Assessing Your Team's Needs: Before diving into the hiring process, take a comprehensive look at your property management team's current structure and identify areas that require reinforcement. Consider the skills, expertise, and roles necessary for success. Setting Clear Objectives: Establish clear and measurable objectives for your Q1 hiring strategy. Define the specific roles you aim to fill, the skills and qualifications required, and the timeline for bringing new team members on board. Clarity in objectives ensures a more focused and efficient recruitment process. Leveraging Industry Insights: Stay informed about the latest industry trends and market dynamics to understand the evolving needs of property management and how they relate to your own goals. Partnering with an Expert Staffing Firm In an evolving property management landscape, staying ahead of the competition requires a workforce that is not only experienced but also adaptable to change. An expert staffing firm, like BGSF, specializes in identifying candidates who possess the right skills and mindset to navigate the challenges of the industry. Whether it's compliance knowledge, technology proficiency, or exceptional communication skills, a staffing partner can pinpoint the candidates who will thrive in your unique environment. Other critical benefits include: Time Efficiency and Faster Results: Time is of the essence in the competitive world of property management. Q1 sets the tone for the rest of the year, and delays in hiring can result in missed opportunities and increased workload for existing staff. BGSF streamlines the hiring process, leveraging our networks and expertise to quickly identify and present qualified candidates. This efficiency allows your organization to secure top talent promptly, ensuring a smooth transition into the new year. Access to a Diverse Talent Pool: Diversity and inclusion are crucial components of a thriving workplace. BGSF provides access to a diverse talent pool, enabling your organization to build a team that reflects a variety of perspectives and experiences. This not only fosters innovation but also enhances your property management team's ability to connect with a diverse tenant and resident base. Try Out Candidates: Do you need to start a new team member immediately or did you recently acquire a new property? BGSF offers Smart Hire, a payroll service that lets you test out any potential team member before you commit to hiring. We carry all the coverages and liabilities for our services with zero minimum hours and zero buyout/conversion fees. Industry Knowledge and Insights: Navigating the intricacies of property management requires a deep understanding of industry trends and regulations. BGSF specializes in property management and is well-versed in the unique challenges and opportunities the industry presents. This knowledge allows us to identify candidates who not only meet your immediate needs but also align with your long-term goals, ensuring a strategic and sustainable hiring approach. Customized Solutions for Your Organization: Every property management organization is unique, and a one-size-fits-all approach to hiring may not yield the best results. BGSF collaborates closely with your team to understand your specific needs, culture, and goals. This personalized approach ensures that the candidates presented align seamlessly with your organization's values and objectives. Your Q1 Hiring Journey As you embark on your Q1 hiring journey, consider the invaluable support BGSF can provide. From saving time and resources to accessing a diverse talent pool, the benefits are numerous. Jumpstart your hiring with confidence, knowing that you have a dedicated partner committed to helping you build a team that will drive success throughout the year. For all of 2024, we have the talent you need available right when you need them! Contact us today to make a request.

  • Staffing Solutions for Year-End Property Inspections

    As the calendar turns, the need for comprehensive assessments and compliance checks becomes paramount for property managers and owners. One strategic approach gaining popularity in the property management sphere is outsourcing staffing for year-end property inspections. Let's explore the benefits and considerations of outsourcing, including how it can streamline the inspection process, enhance efficiency, and contribute to overall success. Challenges in Year-End Property Inspections Despite their importance, year-end property inspections pose several unique challenges: Time Constraints: The end of the year is often a busy time for property professionals. Balancing year-end financials, holiday schedules, and other obligations can make it challenging to conduct thorough inspections. Resource Allocation: Allocating the right personnel for inspections is crucial. Insufficient staffing can result in rushed inspections, while excess staffing may lead to unnecessary costs. Documentation and Reporting: Accurate documentation of inspection findings is essential for future reference and compliance purposes. Inadequate staffing may result in incomplete or inaccurate reports. Strategic Staffing Solutions To overcome these challenges and optimize the year-end property inspection process, property managers are turning to strategic staffing solutions: Focus on Core Competencies: Outsourcing staffing for year-end property inspections allows property management professionals to focus on their core competencies. Rather than diverting internal resources to the intricacies of inspections, property managers can leverage external expertise. This ensures that the inspections are conducted by professionals with a deep understanding of compliance standards and industry best practices. Access to Specialized Skills: Year-end property inspections often require specialized skills and knowledge, ranging from environmental assessments to intricate electrical inspections. Outsourcing enables property managers to tap into a pool of professionals with specific expertise, ensuring that every aspect of the inspection is handled by qualified individuals. This not only enhances the accuracy of inspections but also mitigates risks associated with overlooking critical details. Scalability and Flexibility: Outsourcing provides a scalable and flexible solution for staffing needs during the year-end inspection season. Property managers can adjust the size of their outsourced team based on the volume of inspections or the complexity of tasks. This scalability ensures that the workforce aligns seamlessly with the demands of the inspection schedule, preventing understaffing or overstaffing issues. Cost-Efficiency: Managing an internal team for year-end inspections comes with inherent costs, including salaries, benefits, training, and equipment. Outsourcing allows property managers to convert these fixed costs into variable costs, paying only for the services they need. This cost-efficiency can result in significant savings, especially for smaller property management firms with limited budgets. Accelerated Turnaround Time: Outsourced teams, equipped with specialized tools and streamlined processes, often work with increased efficiency. This can lead to accelerated turnaround times for property inspections. Swift assessments mean that property managers can promptly address any issues discovered during inspections, reducing the potential for prolonged downtime or regulatory non-compliance. Risk Mitigation: Outsourcing staffing for year-end property inspections can contribute to risk mitigation. By relying on professionals well-versed in compliance standards and regulations, property managers reduce the risk of oversights that could lead to legal complications. Outsourcing for Year-End Initiatives External staffing for year-end property inspections has emerged as a strategic choice for property managers looking to optimize resources, enhance efficiency, and ensure thorough assessments. The benefits, including scalability and cost efficiency, make outsourcing an attractive option in the dynamic landscape of property management. As the industry continues to evolve, embracing staffing solutions can position property managers for success in meeting the demands of year-round initiatives. Are you looking for extra staffing support as you complete your year-end inspections and other tasks? We've got you covered! Click here to request talent today.

  • ERP Trends for 2024

    In the fast-paced world of enterprise resource planning (ERP), staying ahead of the curve is essential for businesses aiming to streamline operations and enhance overall efficiency. As we enter 2024, several ERP trends are poised to shape the landscape of business management software. Here are some of the key trends that will play a pivotal role in shaping the future of ERP systems. ERP Key Trends Cloud Continues to Reign: The cloud has been a game-changer in the ERP arena, and its dominance is set to continue in 2024. Cloud-based ERP solutions offer unparalleled flexibility, scalability, and accessibility. With the increasing demand for remote work and the need for real-time data access, more businesses are likely to opt for cloud ERP systems to foster collaboration and agility. AI and Machine Learning Integration: The infusion of artificial intelligence (AI) and machine learning (ML) into ERP systems has revolutionized how businesses can analyze data and make decisions. In 2024, ERP solutions are expected to expand their use of AI and ML to predictive analytics, intelligent automation, and data-driven insights. This integration will empower organizations to make more informed decisions, automate routine tasks, and optimize business processes. Focus on User Experience (UX): User experience is no longer a secondary consideration in ERP design. Modern ERP systems are placing a strong emphasis on user-friendly interfaces, intuitive navigation, and personalized experiences. In 2024, expect ERP vendors to prioritize UX enhancements, making it easier for employees at all levels to interact with and derive value from the ERP system. Blockchain for Enhanced Security: Security concerns have always been a top priority for businesses, and ERP systems are no exception. Blockchain technology is increasingly being explored as a means to enhance data security within ERP applications. By providing a decentralized and tamper-proof ledger, blockchain can safeguard sensitive information and transactions, reducing the risk of cyber threats. Greater Integration with IoT: The Internet of Things (IoT) is driving a new era of connectivity, and ERP systems are now integrating with IoT devices to capture valuable data from the physical world. In 2024, expect ERP solutions to further embrace IoT, facilitating real-time monitoring of assets, predictive maintenance, and a more comprehensive view of supply chain operations. Customization and Modularization: Businesses have diverse needs, and ERP systems are evolving to accommodate this diversity. In 2024, ERP trends suggest a shift towards modular and customizable solutions. This approach enables businesses to choose and implement only the functionalities they need, promoting a more cost-effective and tailored ERP deployment. Sustainability and ESG Considerations: Environmental, Social, and Governance (ESG) considerations are gaining prominence in the business world. ERP systems are expected to play a role in helping organizations measure, report, and improve their sustainability practices. In 2024, anticipate ERP solutions incorporating features that enable businesses to track and optimize their environmental impact. ERP in 2024 The ERP landscape is poised for significant advancements in 2024. From cloud dominance to the integration of cutting-edge technologies like AI, blockchain, and IoT, businesses are presented with a myriad of opportunities to enhance their operational efficiency and stay competitive. By staying abreast of these ERP trends, organizations can position themselves for success next year and beyond. BGSF - A Trusted ERP Partner As a leader in ERP solutions, including managed solutions, implementing new systems, upgrading software, executing migrations, and supporting/maintaining systems, BGSF is the trusted partner you've been searching for! We not only specialize in Oracle, Workday, and SAP, but we are also an Oracle Partner and a Workday Referral Partner. Contact us to help you execute your ERP strategy today.

  • Property Management Hiring Trends for 2024

    As the real estate landscape continues to evolve, so do the trends in property management. Based on industry trends, 2024 is set to bring distinctive changes and advancements that shape the way property management companies approach staffing and recruitment. In this blog, we'll delve into the emerging trends that will likely dominate the property management hiring landscape in 2024. Trends in Property Management Tech-Savvy Professionals in High Demand: In 2024, the integration of technology into property management processes will be more crucial than ever. Property management firms are already actively seeking tech-savvy professionals who can leverage the latest software and tools to streamline operations. From automated communication systems to advanced data analytics for property valuation, professionals with a strong tech background will be highly sought after. Focus on Sustainability and Green Practices: The global push for sustainability significantly impacts the property management sector. Property owners, residents, and tenants alike are becoming increasingly conscious of environmental practices. Therefore, property management companies are looking for candidates who understand sustainable building practices and energy efficiency, and those who are working towards or have already earned green certifications. Professionals with expertise in implementing eco-friendly initiatives will have a competitive edge in the coming year and beyond. Remote Property Management Professionals: The rise of remote work is influencing various industries, and property management is no exception. In 2024, we can expect an increase in the number of remote property management professionals. Cloud-based property management software and virtual communication tools allow professionals to oversee properties from anywhere. Hiring managers are now more open to candidates who can effectively manage properties remotely, bringing efficiency and flexibility to the industry. Emphasis on Customer Experience and Communication Skills: While technical skills are crucial, property management professionals are also required to possess exceptional communication and customer service skills. In 2024, a growing emphasis is expected on hiring individuals who can build positive relationships with residents, tenants, property owners, and maintenance teams. Companies are prioritizing candidates who can effectively navigate challenging situations, diffuse conflicts, and provide excellent customer experiences. Diversity and Inclusion Initiatives: Property management firms are recognizing the continued importance of diversity and inclusion within their teams. In 2024, there will most likely be a heightened focus on creating diverse workforces that reflect the communities they serve. Hiring managers are actively seeking candidates from a variety of backgrounds and experiences, fostering a more inclusive and dynamic work environment. Professional Development and Training Programs: Continuous learning is a key component of success in the property management field. In 2024, companies are expected to increase their investment in professional development and training programs to upskill their teams. Property management professionals are encouraged to pursue certifications and attend workshops to stay abreast of industry trends and best practices. This commitment to ongoing education is becoming a significant factor in hiring decisions. At BGSF, we offer our own 8-week Maintenance Training Program to help candidates take their skills to the next level. Click here to learn more! Preparing for 2024 As we step into 2024, the property management industry is transforming its approach to hiring. From the integration of technology to a focus on sustainability and professional development, property management professionals must adapt to these trends to thrive in the competitive job market. By staying informed and developing a diverse skill set, individuals can position themselves as valuable assets in the dynamic world of property management. No matter the trends or workforce challenges, we have the talent you need available today! Contact us to make a request.

  • 2024 Staffing Challenges – (Results of our LinkedIn poll)

    As we wrap up 2023 and plan for 2024, we asked our LinkedIn followers to vote on their most concerning staffing challenges in the new year. According to Staffing Industry Analysts, talent acquisition, cyber security, and talent retention are the top three most serious challenges business leaders anticipate in 2024. This prompted us to ask our 213K+ LinkedIn followers for their feedback. Poll Question “Which of the following do you anticipate being the most significant challenge facing businesses in 2024?” Poll options included the following: Talent Acquisition Talent Retention Reskilling/Upskilling Cybersecurity Poll Results We received a total of 413 votes with the results listed below: Talent Retention received the most votes with 52%. Talent Acquisition came in second with 21% of votes. Cybersecurity came in third with 14% of votes. Reskilling/Upskilling came in last with 13% of votes. Talent Acquisition and Retention It is no surprise that finding and keeping skilled employees generated the majority of votes, as these are ongoing challenges that require companies to continuously adapt in a dynamic business landscape. However, business leaders do believe that hiring was easier in 2023 than in previous years according to The EAA 2024 National Business Trends Survey. Cybersecurity As companies increase their reliance on digital technologies, cybersecurity threats are more sophisticated and prevalent. This challenge has grown stronger as organizations undergo digital transformation to align technology initiatives with business success. To bridge the cybersecurity skills gap, some U.S. companies are offering internal training, with 43% helping employees pursue certifications according to SIA's IT Staffing report. Reskilling/Upskilling These are also top challenges as companies evolve, adopt new technologies, and strive to retain skilled talent. According to a report by IBM, business leaders say 40% of their workforce will need to reskill over the next three years as companies implement AI and automation. Organizations can provide training and upskilling opportunities to employees to help them adapt to new roles or collaborate effectively with AI systems to overcome this challenge. Let BGSF help you reach your career goals, whether you are looking for a permanent role or a contract role to gain new skills and build your resume. We also provide workforce solutions to assist with your talent search. Search our jobs or contact us!

  • BGSF November 2023 Jobs Report: Hiring Remains Strong Despite Slowdown

    The November 2023 jobs report paints a picture of a resilient labor market, with employers adding 199,000 jobs, slightly exceeding expectations. This represents a slight uptick from the 150,000 jobs added in October, indicating that the pace of hiring slowdown might be nearing its end. Key Highlights: Job Growth: Nonfarm payrolls increased by 199,000 in November, exceeding the Dow Jones estimate of 190,000. This represents a robust gain, suggesting continued momentum in the labor market. Unemployment: The unemployment rate unexpectedly dipped to 3.7%, down from 3.9% in the previous month. This is the lowest level since the pandemic began and signifies a strong labor market despite concerns about a potential slowdown. Industry Growth: Health care led the way in job creation, adding 77,000 jobs. Other sectors with significant gains include government (49,000), manufacturing (28,000), and leisure and hospitality (40,000). Wage Growth: Average hourly earnings continued to rise, increasing by 0.4% for the month and 4% year-over-year. This is close to expectations and indicates a gradual increase in wages, though concerns about inflation remain. Striking Workers Return: The return of striking autoworkers and Hollywood actors contributed to the job gains in November. This suggests that the labor market might be even stronger than the official numbers indicate. Overall Analysis: While the pace of hiring has slowed compared to its pandemic peak, the November jobs report suggests that the labor market remains robust. The combination of low unemployment, healthy job growth, and rising wages points to a strong economy. However, concerns about inflation and potential economic headwinds linger. What does this mean for job seekers and employers? Job Seekers: The job market remains strong, and opportunities are still abundant. Focus on your skills and qualifications to stand out in a competitive environment. Research potential employers and tailor your resume and cover letter accordingly. Network with professionals in your field to expand your reach and learn about potential opportunities. Employers: Prepare for continued competition for talent. Offer competitive salaries and benefits to attract and retain top performers. Focus on creating a positive work environment and opportunities for career growth. Invest in your employees' training and development to enhance their skills and value. “The Rental and Leasing Services sector is experiencing continued momentum, with 26,000 new jobs above this time last year. This growth, coupled with continued strength in residential construction, paints an incredibly bright picture for the future of the property management industry. At BGSF, we're excited to be at the forefront of this growth, and we're committed to providing our clients with the expertise and resources they need to thrive in this dynamic market." said Kelly Brown, Property Management Division President of BGSF The November jobs report provides encouraging news for the U.S. economy. While challenges remain, the labor market continues to show encouraging signs of strength and resilience. Eric Peters, Professional Division President of BGSF note, "The Professional, Scientific, and Technical Services sector is seeing growth again, with 31,000 new jobs added in November. This growth is particularly strong in the Computer Systems and Technical Consulting services sectors, fueled by the burgeoning field of artificial intelligence (AI). The demand for skilled professionals with expertise in AI development and implementation is soaring, creating exciting opportunities for talented individuals. Further bolstering this positive momentum, local and state government jobs are also on the rise, with 49,000 added in November. As the deadline to obligate American Rescue Plan Act funds approaches, governments are prioritizing key investments in public health, economic recovery, community support, and infrastructure. This sustained investment promises to create further opportunities for professional talent in the coming months and years. To better serve our public sector clients, BGSF became an approved vendor for a cooperative purchasing program that allows organizations to purchase goods and services through pre-negotiated contracts in lieu of establishing a Master Service Agreement (MSA). That means HGACBuy members have access to one of the largest networks of highly skilled talent, without the hassle of dealing with a lengthy procurement process." Chris Loope, BGSF's Chief Strategy Officer added, "As Artificial Intelligence continues to advance, it's creating a surge in demand for a diverse range of jobs – from AI developers and data scientists to AI ethics specialists and user experience designers. This revolution extends beyond the tech sector, influencing industries like healthcare, finance, and manufacturing. To thrive in this landscape, companies must tap into diverse talent pools, fostering a workforce that blends technical skills with creativity, ethical understanding, and cross-disciplinary collaboration. Embracing this shift is crucial for businesses aiming to leverage AI for innovation, efficiency, and sustainable growth. BGSF's acquisition of Arroyo Consulting positions us to help our clients develop the cutting-edge tools necessary to implement emerging technologies and propel their businesses forward." BGSF is a leading provider of professional and property management staffing and workforce solutions, with a commitment to quality, innovation, and customer satisfaction. We offer a wide range of services to meet the needs of our clients, and we are proud to have a team of experienced and dedicated workforce professionals who are passionate about helping our clients succeed. If you are looking for a professional or managed services partner that can help you achieve your business goals, contact BGSF today.

  • Responsible AI: Considering CEO Concerns

    CEOs find themselves at the intersection of ambition and apprehension, grappling with the transformative potential of Artificial Intelligence (AI) and Machine Learning (ML). Workday, Inc.'s recent global study, drawing insights from 2,355 business leaders across various executive offices, sheds light on the prevalent sentiments surrounding AI and ML adoption. Despite an overwhelming 98% of CEOs acknowledging immediate business benefits, concerns about trust, data accessibility, and the human impact are raising concerns on the path to full integration. Optimism Amidst Uncertainty Workday's study reflects a dual narrative – a resounding optimism about the potential benefits of AI and ML, and a cautious acknowledgment of the challenges lying ahead. The study unveils that 47% of business leaders believe these technologies will significantly amplify human potential. CEOs, in particular, exhibit a strong belief (45%) that AI and ML will contribute to creating a more equitable and diverse workforce. CEOs and business leaders are not oblivious to the imminent impact of AI and ML on the global business landscape. A significant 71% anticipate transformative effects within the next three years, while 64% believe their own organizations will be directly affected. Immediate benefits identified by CEOs include increased productivity, data-driven decision-making, and enhanced collaboration, highlighting the practical advantages that could result from adopting these technologies. Challenges: Skills, Trust, and Data Despite the optimism, CEOs express reservations about their organizations' readiness for AI and ML integration. Nearly half (49%) feel unprepared, citing a lack of tools, skills, and knowledge necessary for adoption. A cautious 28% prefer to observe the impact on their organizations before committing to a specific approach. Concerns about the workforce adapting to rapid changes are also present, with 30% of CEOs fearing that employees may struggle to keep pace. Trust emerges as a cornerstone issue inhibiting the full embrace of AI and ML. A staggering 43% of leaders express concerns about the trustworthiness of these technologies. CEOs, in particular, identify potential errors (67%) as a top risk associated with integration, underscoring the pivotal role of trust and high-quality data. The study also reveals a significant hurdle in the form of data silos. An alarming 59% of organizations report that their data is somewhat or completely siloed, impeding transparency and hindering leaders' ability to fully embrace AI and ML. Only 4% claim their data is fully accessible, emphasizing the need for better connected data assets and integration. Moving Forward Responsibly Jim Stratton, Chief Technology Officer at Workday, emphasizes that building trust requires the right data foundation and commitment to governance. He advocates for the implementation of trustworthy solutions that prioritize data quality and transparency, enabling companies to harness the rewards of AI and ML responsibly. "As CEOs steer their organizations through the evolving realm of Artificial Intelligence and Machine Learning, striking a balance between their transformative potential and practical integration is key," says Chris Loope, Chief Strategy Officer for BGSF. "AI and ML promise significant growth and efficiency gains, but their integration demands careful consideration of trust, data accessibility, and workforce preparedness. A crucial first step in this journey is establishing an AI acceptable use policy and implementation framework. This will not only mitigate risks but also provide the necessary transparency and establish guidelines tailored to our company's specific needs, ensuring a responsible, strategic, and effective adoption that aligns with their core values and strategic objectives." While CEOs navigate the uncharted waters of AI and ML integration, the study suggests that a delicate balance between optimism and caution is crucial. Addressing concerns about trust, data accessibility, and skills, while capitalizing on the potential benefits, will be key to unlocking the full potential of these transformative technologies in a responsible and sustainable manner.

  • Preparing for Financial Audits: A Year-End Guide

    As the calendar flips to its final pages, businesses worldwide are gearing up for one of the most critical events in their financial calendar - the year-end audit. Preparing for financial audits demands a meticulous and strategic approach to ensure accuracy, compliance, and a smooth auditing process. In this comprehensive guide, we'll delve into the essential steps and considerations for preparing your organization for year-end financial audits. Preparing for Financial Audits Review and Reconcile Financial Statements: Begin the audit preparation process by conducting a thorough review of financial statements. Scrutinize income statements, balance sheets, and cash flow statements for accuracy and consistency. Reconcile any discrepancies, correct errors, and ensure that your financial reports provide a clear and accurate reflection of your organization's financial health. Documentation Organization: Auditors heavily rely on documentation to verify financial transactions and compliance. Organize all relevant financial documents, including invoices, receipts, contracts, and bank statements. A well-organized document management system not only expedites the audit process but also showcases your commitment to transparency and accountability. Compliance Cross-Check: Stay vigilant and ensure that your organization is compliant with all applicable financial regulations. Regularly monitor changes in accounting standards and tax regulations throughout the year. Conduct a comprehensive compliance check to identify and address any potential issues before auditors arrive. Engage with Auditors Early: Establish open lines of communication with the audit team well before the audit officially kicks off. Share any significant changes in your financial practices, business operations, or internal controls. Proactively addressing potential concerns fosters a positive relationship with auditors and sets the stage for a collaborative and efficient audit process. Internal Controls Assessment: Evaluate the effectiveness of your internal control procedures. Internal controls are crucial in safeguarding against fraud, errors, and financial irregularities. Identify and rectify any weaknesses in your internal control systems, reinforcing the reliability of your financial reporting and instilling confidence in the audit process. Data Security and Technology Infrastructure: In an era where technology plays a pivotal role in audits, ensure that your IT systems are secure. Implement robust cybersecurity measures to protect sensitive financial information. A secure technological infrastructure not only safeguards your data but also ensures a seamless and uninterrupted audit process. Employee Training on Audit Procedures: Educate relevant staff members about the audit process and their roles during this critical period. Ensure that employees understand the importance of providing accurate and timely information to auditors. Well-informed staff can significantly contribute to a smoother audit process and demonstrate the organization's commitment to collaboration. Utilizing Consultants As businesses navigate the complexities of year-end financial audits, an increasing number are turning to external consultants to guide them through the process. The advantages of enlisting the expertise of consultants extend beyond mere compliance; they can significantly enhance the efficiency, accuracy, and overall success of your year-end financial audit. Here are some of the benefits that organizations can enjoy by leveraging consultants during this critical period. Expertise and Specialized Knowledge: Year-end financial audits often demand a deep understanding of evolving accounting standards, tax regulations, and industry-specific compliance requirements. Consultants bring specialized knowledge and expertise to the table, ensuring that your organization stays abreast of the latest developments and adheres to all relevant standards. This expertise is particularly valuable in complex industries where nuances can greatly impact financial reporting. Efficiency in Preparation: Consultants streamline the audit preparation process by leveraging their experience and efficient methodologies. They can guide your team in organizing documentation, reviewing financial statements, and implementing internal controls effectively. This efficiency not only accelerates the audit timeline but also minimizes disruptions to your day-to-day operations. Tailored Strategies for Compliance: Navigating the intricate web of financial regulations requires a nuanced approach. Consultants can develop customized strategies to address specific compliance challenges faced by your organization. Their ability to tailor solutions ensures that you not only meet the minimum regulatory requirements but also optimize your financial processes for long-term success. Cost-Effective Solutions: While it may seem counterintuitive, engaging consultants for year-end financial audits can often lead to cost savings. The efficiency they bring to the process can reduce the time and resources your internal team needs to dedicate to audit preparation. Additionally, their expertise can help prevent costly compliance errors that may result in fines or penalties. Year-End Preparation Preparing for year-end financial audits is a strategic undertaking that requires attention to detail, proactive communication, and a commitment to financial integrity. By following these essential steps and utilizing external consultants, organizations can navigate the audit process with confidence, presenting a clear and accurate picture of their financial health. A well-prepared organization not only facilitates the audit but also reinforces trust with stakeholders and demonstrates a commitment to financial excellence. Our extensive network of finance and accounting consultants are available to help you navigate your year-end closing processes and financial audits. Contact us today to learn more!

  • Optimizing Success: Year-End Maintenance Review Tips for Property Managers

    As the year draws to a close, property managers find themselves at a crucial juncture— the perfect time for a comprehensive year-end maintenance review. This essential task not only ensures the longevity and efficiency of your properties but also sets the stage for a successful start to the new year. Here are some valuable tips for property managers to conduct a thorough year-end maintenance review, in both Multifamily and Commerical Properties. Year-End Maintenance Review Tips A Look Back at Your Year: Document and Evaluate Maintenance Activities: Start the year-end maintenance review by compiling a detailed record of all maintenance activities throughout the year. This documentation should include routine inspections, repairs, and any major projects. Evaluate the effectiveness of these efforts, identifying areas that require improvement or further attention. Evaluate Resident and Tenant Satisfaction: Resident and tenant satisfaction is a key indicator of a well-managed property. Seek feedback regarding their maintenance experiences and address any concerns promptly. This not only improves satisfaction but also helps property managers understand specific needs and preferences within the community. Evaluate Vendor Performance: Assess the performance of vendors and contractors involved in maintenance activities. Consider factors such as responsiveness, quality of work, and adherence to timelines. This evaluation will help property managers make informed decisions about continuing or adjusting partnerships, ensuring the property receives top-notch service. Evaluating the Property Today Assessment of Property Exterior: Begin your year-end maintenance review by assessing the exterior of your properties. Check for any signs of wear and tear, damage, or issues with the structural integrity. This includes inspecting roofs, facades, gutters, and landscaping. Addressing these concerns now can prevent more significant problems down the line. HVAC Systems Inspection: A crucial aspect of property maintenance is inspecting heating, ventilation, and air conditioning (HVAC) systems. Ensure that these systems are in good working order to provide optimal comfort for tenants and residents. Replace air filters, check for leaks, and schedule professional maintenance if needed. Plumbing and Electrical Systems: Inspect plumbing and electrical systems to identify any leaks, blockages, or potential fire hazards. Replace worn-out components, such as faucets and wiring, and schedule routine maintenance to keep these systems functioning efficiently. Interior Checks: Conduct a thorough review of the property interiors. Check for signs of water damage, mold, or pest infestations. Addressing these issues promptly is essential to maintain a safe and healthy living environment. Safety and Regulation Compliance: Ensure that your properties comply with safety regulations. This includes checking smoke detectors, carbon monoxide detectors, fire extinguishers, and emergency exits. Confirm that all safety equipment is in good working order and replace any outdated or malfunctioning items. This also includes inspections, certifications, and any necessary updates to meet evolving requirements. Staying ahead of compliance issues contributes to the overall safety and legality of the property. Document Repairs and Upgrades: Keep detailed records of all repairs and upgrades made during the year-end maintenance review. This documentation not only serves as a reference for future inspections but also helps in budgeting for the upcoming year. Looking Ahead Review and Update Preventive Maintenance Plans: Use the insights gained from the year-end review to update and enhance preventive maintenance plans. Adjust schedules, prioritize critical components, and incorporate lessons learned from the past year. A well-structured preventive maintenance plan can significantly reduce unexpected repairs and increase the overall longevity of property assets. Update Budgets Based on Findings: The year-end maintenance review is an opportune time to evaluate the financial aspects of property management. Analyze maintenance expenditures and adjust budgets accordingly. This may involve reallocating resources to address critical maintenance and staffing needs or identifying cost-saving measures without compromising quality. Implement Sustainable Practices: Consider integrating sustainable practices into maintenance operations in 2024 and beyond. From energy-efficient upgrades to eco-friendly landscaping, incorporating sustainability not only benefits the environment but can also lead to cost savings over time. Moving on to 2024 A thorough year-end maintenance review is a proactive approach to property management, ensuring the well-being of your properties, tenants, and residents. By following these tips, property managers can create a roadmap for the upcoming year, fostering a safe, comfortable, and efficient living environment while preserving the long-term value of their investments. Are you looking for extra staffing support as you complete your year-end maintenance review and other tasks? We've got you covered! Click here to request talent today.

  • Maximizing Impact: A Deep Dive into the American Rescue Plan Act (ARPA) Spending Deadline

    In March 2021, the United States Congress passed the American Rescue Plan Act (ARPA), a comprehensive and ambitious economic stimulus package aimed at addressing the unprecedented challenges posed by the COVID-19 pandemic. With a total budget of $1.9 trillion, ARPA represents a significant investment in revitalizing the economy, supporting struggling households, and bolstering public health efforts. ARAP Spending Details One significant component of ARPA is the Coronavirus State and Local Fiscal Recovery Funds, which allocates $350 billion in emergency funding to state, local, territorial, and tribal governments. The aim is to help these entities respond to the economic and public health challenges brought about by the pandemic. Here are some key details about the allocation and use of these funds: State and Local Allocation: State governments, along with the District of Columbia, are set to receive $195.3 billion in two disbursements. This approach allows for flexibility in addressing immediate needs while also planning for longer-term recovery strategies. Territories will receive a total of $4.5 billion in a single payment. Obligation and Expenditure Deadlines: The urgency embedded in ARPA's design is reflected in its spending deadline framework. Recipients of the funds, including states and territories, are required to obligate the funds by December 31, 2024. This means that they must have a plan or commitment for how the funds will be used by this date. The funds must be spent by December 31, 2026. This timeframe is designed to ensure that the money is injected into the economy relatively quickly to support recovery efforts. Permissible Uses of Funds: The ARPA outlines specific permissible uses for the fiscal recovery funds, including responding to the public health emergency or its negative economic impacts, providing premium pay to essential workers, investing in water, sewer, or broadband infrastructure, and addressing disparities that were exacerbated by the pandemic. Accountability and Reporting: Recipients of the funds are required to report regularly on how the money is being used, ensuring transparency and accountability in the expenditure of public funds. Local Decision-Making: ARPA recognizes that local governments are best positioned to understand the unique needs of their communities. As a result, the funds provide flexibility for local decision-making to address specific challenges faced by individual jurisdictions. Crucial Considerations As the clock starts ticking on the deadline to obligate funds, Governments must assess and prioritize the most pressing needs within their jurisdictions, which may include issues like public health, economic recovery, support for vulnerable communities, and infrastructure. Public Health Initiatives: The ongoing global health crisis has underscored the importance of robust public health systems. ARPA funds present a unique opportunity for governments to strengthen and expand their public health infrastructure. This could include investments in testing and vaccination programs, healthcare workforce expansion, and improvements in data collection and analysis for more effective pandemic response strategies. By prioritizing public health, governments can not only address immediate concerns but also build resilience for future health challenges. Economic Recovery Programs: ARPA funds can serve as a lifeline for communities grappling with the economic fallout of the pandemic. Governments can strategically allocate resources to support small businesses, create jobs, and stimulate economic growth in these areas. This might involve grants, low-interest loans, or other financial assistance programs to help businesses recover and thrive. By fostering economic resilience, governments can lay the groundwork for a sustainable recovery that benefits both businesses and individuals. Support for Vulnerable Populations: The pandemic has disproportionately affected vulnerable populations, including low-income individuals and those facing housing insecurity. ARPA funds can be instrumental in addressing these disparities by funding initiatives that provide direct assistance, such as rental assistance programs, food security measures, and mental health support. Infrastructure Investments: Beyond immediate pandemic-related concerns, governments can use ARPA funds to invest in long-term infrastructure projects. This includes modernizing transportation systems, upgrading water and sewer systems, and enhancing broadband access. Such investments not only create jobs but also lay the foundation for sustainable economic growth and improved quality of life for residents. BGSF: A Proud Public Sector Partner The Coronavirus State and Local Fiscal Recovery Funds represent a crucial component of ARPA's strategy to support a robust and equitable recovery. By providing direct assistance to governments, the plan aims to mitigate the economic fallout of the pandemic and promote a sustainable path toward recovery for communities across the United States. The BGSF team helps organizations, including government entities, efficiently scale their workforce according to fluctuating demands, which may come as a result of this increase in funding. With a comprehensive understanding of the public sector, we tailor our strategies to provide highly skilled, screened talent who possess the requisite skills and experience required for various public roles. This commitment extends to managed solutions and temporary, permanent, and project-based positions. To better serve our public sector clients, BGSF became an approved vendor for HGACBuy, a cooperative purchasing program that allows organizations to purchase goods and services through pre-negotiated contracts in lieu of establishing a Master Service Agreement (MSA). That means HGACBuy members have access to one of the largest networks of highly skilled talent, without the hassle of dealing with a lengthy procurement process. Click here to learn more and partner with us today!

  • PropTech Trends for 2024

    The real estate industry has always been a dynamic playing field, and in recent years, technology has been a key driver of transformative change. As we inch closer to 2024, it's time to explore the upcoming trends in Property Technology, or PropTech, that are set to reshape the landscape of the real estate sector. From innovative solutions to sustainable practices, let's explore the exciting developments that will define the industry in the coming year. PropTech Trends for 2024 Augmented Reality (AR) and Virtual Reality (VR) in Property Viewing: The way people search for and view properties is evolving, thanks to the integration of AR and VR technologies. In 2024, prospective buyers and tenants can expect more immersive property viewing experiences from the comfort of their homes. Virtual walkthroughs, interactive 3D models, and AR-enhanced property previews will become standard tools for real estate professionals, making property exploration more convenient and efficient. Smart Buildings and IoT Integration: The concept of smart buildings is evolving, with a focus on sustainability, energy efficiency, and occupant well-being. In 2024, we can anticipate a surge in the integration of Internet of Things (IoT) devices within properties, facilitating intelligent building management systems. From smart lighting and thermostats to advanced security systems, these innovations will not only enhance the resident experience but also contribute to the overall sustainability of real estate developments. Evolving Property Management Software: Property management is undergoing a digital transformation with the evolution of property management software. In 2024, expect to see more comprehensive and user-friendly platforms that streamline operations for property managers. Automated workflows, predictive maintenance, and tenant portals will become standard features, enhancing efficiency and communication within property management processes. Rise of Sustainable Real Estate Practices: Sustainability is no longer a buzzword but a crucial consideration in real estate. In 2024, the industry will witness a significant shift towards eco-friendly construction materials, energy-efficient designs, and sustainable development practices. Investors, developers, and consumers alike will prioritize environmentally conscious choices, contributing to a greener and more sustainable real estate ecosystem. As we step into 2024, the real estate industry is set to embrace a wave of technological innovations that promise to redefine the way we buy, sell, and manage properties. From immersive virtual experiences to smart buildings, the future of PropTech is undoubtedly exciting. These trends not only streamline processes but also contribute to a more transparent, efficient, and sustainable real estate landscape. As stakeholders in this dynamic industry, staying abreast of these trends will be key to navigating the evolving terrain successfully. Get ready to embrace the future of PropTech! As a leader in both property management staffing and IT consulting services, BGSF is uniquely positioned to help you design, implement, and maintain your PropTech strategies in 2024 and beyond. Find out more!

  • 'Tis the Season of Giving: Elevating Resident Appreciation with Festive Events and Special Services

    As the holiday season paints the world in hues of red and green, the spirit of giving and appreciation is in the air. In the realm of multifamily living, there's no better time than now to celebrate the community spirit and show gratitude to the residents who make each multifamily property a unique home. Here are some creative ways to express appreciation by hosting festive events and offering special services this holiday season. Holiday Events Deck the Halls - Set the stage for holiday magic by transforming shared spaces into enchanting winter wonderlands. Deck out common areas with festive decorations, twinkling lights, and fragrant evergreen wreaths. A welcoming environment sets the tone for appreciation, creating a warm and inviting atmosphere for residents to enjoy. Holiday Movie Marathon - Create a cozy communal space for residents to come together for a holiday movie marathon. From timeless classics to contemporary favorites, curate a list of films that capture the essence of the season. Provide blankets, popcorn, and hot cocoa for a cinematic experience that fosters a sense of togetherness. Community Food and Toy Drives - Facilitate a spirit of giving and community support by organizing food drives to benefit local charities or food banks. Additionally, you can host a toy drive encouraging residents to contribute new, unwrapped toys to bring joy to children in need during the holiday season. Utilize communal spaces as convenient collection points for donated items, creating a seamless and accessible process for residents to contribute to these charitable initiatives. Holiday Services Package Handling and Notification - In preparation for the heightened volume of holiday package deliveries, property managers can enhance resident convenience by bolstering staff availability or extending office hours. By doing so, the property can effectively accommodate the surge in packages during this festive season. Furthermore, the implementation of a proactive notification system becomes pivotal, ensuring residents are promptly informed when their packages arrive. Gift Wrapping Services - Take the stress out of holiday preparations by offering on-site gift-wrapping services. Set up a designated gift-wrapping station complete with a variety of wrapping paper, ribbons, and bows. Residents can drop off their gifts and return to find them beautifully wrapped and ready to place under the tree. This thoughtful service not only saves time but adds an extra layer of holiday joy. Winter Wellness Services - Consider offering wellness services tailored to the winter season. Arrange for on-site yoga or meditation sessions to help residents unwind during the busy holiday season. Resident Appreciation this Season These multifaceted initiatives weave a tapestry of appreciation, community, and joy this season. As your property becomes a hub of holiday spirit, residents are not just tenants but integral members of a vibrant and caring community. This holiday season marks a time to create lasting memories and strengthen the bonds that make multifamily living a truly special experience. BGSF is here to assist property managers as they prepare for the hustle and bustle of the holiday season. Make sure you have a full staff ready to go! Contact us today to get ahead of the hiring game.

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