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Become A Commercial Property Manager

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Working As A Commercial Property Manager

  • Making Decisions and Solving Problems
  • Interacting With Computers
  • Communicating with Supervisors, Peers, or Subordinates
  • Resolving Conflicts and Negotiating with Others
  • Organizing, Planning, and Prioritizing Work
  • Unpleasant/Angry People

  • Mostly Sitting

  • $77,930

    Average Salary

What Does A Commercial Property Manager Do At CBRE

* Oversee projects on site
* Renegotiate contracts with vendors
* Develops and maintains positive relationships with clients and tenants.
* Attends client and tenant meetings.
* Respond to tenant needs and services are in compliance with policies, procedures, regulations, contractual obligations and standards.
* Coordinates, oversees and/or manages repair and maintenance work assignments performed by technicians, vendors and contractors performing building maintenance and janitorial work.
* Reviews work orders to ensure that assignments are completed.
* Coordinates tenant move in and out, and walks through spaces with tenants.
* Obtains and reviews price quotes for the procurement of parts, services, and labor for projects.
* Manages minor capital projects with typical budgets between $50K and $350K.
* Prepares capital operating budget and variance reports.
* Manages vendor relationships and trains vendors on work order and billing procedures.
* Responsible for invoice processing and accuracy of cost center coding.
* Conducts financial/business analysis including preparation of reports.
* Monitors account performance as compared to company’s performance standards and budget.
* Review and oversees tenant handbook, including approved vendors list and building rules and regulations.
* Continuously identifies all operating risks, including environmental, health & safety, and discusses solutions with management.
* Drives the implementation of measures, procedures and training to minimize and mitigate operating risks.
* Drives operating efficiency with the property
* Performs daily property inspections to ensure property management policies and procedures are being performed and conditions meet company expectations.
* Proactively maintains and assists in creating new policies and procedures to the ongoing operations of the building.
* Other duties may be assigned.
* SUPERVISORY RESPONSIBILITIES
* Provides formal supervision to individual employees within single functional or operational area.
* Plans and monitors appropriate staffing levels and utilization of labor, including overtime.
* Prepares and delivers performance appraisal for staff.
* Mentors and coaches team members to further develop competencies.
* Leads by example and models behaviors that are consistent with the company's values

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How To Become A Commercial Property Manager

Although many employers prefer to hire college graduates, a high school diploma or equivalent is enough for some jobs. Some managers receive vocational training. Other managers must have a real estate license.

Education

Many employers prefer to hire college graduates for property management positions, particularly for offsite positions dealing with a property’s finances or contract management. Employers also prefer to hire college graduates to manage residential and commercial properties. A bachelor’s or master’s degree in business administration, accounting, finance, real estate, or public administration is preferred for commercial management positions. Managers of commercial properties and those dealing with a property’s finances and contract management increasingly are finding that they need a bachelor’s or master’s degree in business administration, accounting, finance, or real estate management, especially if they do not have much practical experience.

Work Experience in a Related Occupation

Experience in real estate sales is a good background for onsite managers because real estate salespeople also show commercial properties to prospective tenants or buyers.

Licenses, Certifications, and Registrations

Real estate managers who buy or sell property must have a real estate license in the state in which they practice. In a few states, property and community association managers must also have a real estate license. Managers of public housing subsidized by the federal government must hold certifications.

Property, real estate, and community association managers working in Alaska, Colorado, California, Connecticut, Florida, Georgia, Illinois, Nevada, Virginia, and the District of Columbia are required to obtain professional credentials or licensure. Requirements vary by state, but many managers working in states without requirements still obtain designations to show competence and professionalism. BOMI International, the Community Associations Institute, the Institute of Real Estate Management, the National Association of Residential Property Managers, and the Community Association Managers International Certification Board all offer various designations, certifications, and professional development courses. Most states require recertification every 2 years.

In addition, employers may require managers to attend formal training programs from various professional and trade real estate associations. Employers send managers to these programs to develop their management skills and expand their knowledge of specialized fields, such as how to operate and maintain mechanical systems in buildings, how to improve property values, insurance and risk management, personnel management, business and real estate law, community association risks and liabilities, tenant relations, communications, accounting and financial concepts, and reserve funding. Managers also participate in these programs to prepare themselves for positions of greater responsibility in property management. With related job experience, completing these programs and receiving a satisfactory score on a written exam can lead to certification or the formal award of a professional designation by the sponsoring association. 

Advancement

Many people begin property management careers as assistant managers, working closely with a property manager. In time, many assistants advance to property manager positions.

Some people start as onsite managers of apartment buildings, office complexes, or community associations. As they gain experience, they may advance to positions of greater responsibility. Those who excel as onsite managers often transfer to assistant offsite property manager positions, in which they gain experience handling a broad range of property management responsibilities.

The responsibilities and pay of property, real estate, and community association managers increase as these workers manage more and larger properties. Property managers are often responsible for several properties at a time. Some experienced managers open their own property management firms.

Important Qualities

Customer-service skills. Property, real estate, and community association managers must provide excellent customer service to keep existing clients and expand their business with new ones.

Interpersonal skills. Because property, real estate, and community association managers interact with people every day, they must have excellent interpersonal skills.

Listening skills. Property, real estate, and community association managers must listen to and understand residents and property owners in order to meet their needs.

Organizational skills. Property, real estate, and community association managers must be able to plan, coordinate, and direct multiple contractors at the same time, often for multiple properties.

Problem-solving skills. Property, real estate, and community association managers must be able to mediate disputes or legal issues between residents, homeowners, or board members.

Speaking skills. Property, real estate, and community association managers must understand leasing or rental contracts and must be able to clearly explain the materials and answer questions raised by a resident or group of board members.

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Commercial Property Manager jobs

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Commercial Property Manager Demographics

Gender

  • Female

    60.6%
  • Male

    37.2%
  • Unknown

    2.3%

Ethnicity

  • White

    80.5%
  • Hispanic or Latino

    9.5%
  • Asian

    6.9%
  • Unknown

    2.4%
  • Black or African American

    0.6%
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Languages Spoken

  • Spanish

    39.3%
  • Chinese

    7.1%
  • French

    7.1%
  • Mandarin

    7.1%
  • Danish

    3.6%
  • Portuguese

    3.6%
  • Vietnamese

    3.6%
  • Greek

    3.6%
  • German

    3.6%
  • Gujarati

    3.6%
  • Carrier

    3.6%
  • Hindi

    3.6%
  • Cantonese

    3.6%
  • Polish

    3.6%
  • Korean

    3.6%
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Commercial Property Manager

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Commercial Property Manager Education

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Real Commercial Property Manager Salaries

Job Title Company Location Start Date Salary
Manager, Commercial Properties Jones Lang Lasalle Americas, Inc. New York, NY Oct 06, 2008 $85,300
Commercial and Residential Property Manager Jeff W. Soden, Inc. Richmond, VA Nov 16, 2009 $47,840
Commercial Property Manager Timberton Enterprises, LLLP (D/B/A Park Village Sh Norcross, GA Jun 27, 2016 $39,853
Commercial Property Manager Jae GAK Lee Wasilla, AK Jan 01, 2010 $39,000
Commercial Property Manager Annex Properties Wasilla, AK Sep 01, 2010 $39,000

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Top Skills for A Commercial Property Manager

SquareFeetPortfolioPropertyOwnersPropertyManagementRealEstateOfficeBuildingsOccupancyCommonAreaMaintenanceTenantRelationsAnnualBudgetsSuperviseCustomerServiceNewTenantsPropertyInspectionsRentCollectionTenantImprovementProjectsAccountsReceivablesOfficeSpaceVendorContractsHvac

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Top Commercial Property Manager Skills

  1. Square Feet
  2. Portfolio
  3. Property Owners
You can check out examples of real life uses of top skills on resumes here:
  • Conducted survey of 65,000 square feet of vacant suites and created plan of work and budget projections for rehabilitation.
  • Managed a portfolio of 14 properties, primarily office; including downtown, medical, historical, and suburban.
  • Prepare monthly financial reports for commercial property owners.
  • Participated as Property Management contact as part of a dispositions team to international institutional investor two months after assuming property.
  • Identify and implement strategies that add value for individual properties as well as the entire real estate portfolio.

Top Commercial Property Manager Employers

Commercial Property Manager Videos

A Typical Day in the Life of a Property Manager

Commercial Property Management Training Module 1

Commercial Property Management Planning and Building Performance

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