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Property management internship hiring summary. Here are some key points about hiring property management interns in the United States:
Here's a step-by-step property management internship hiring guide:
Property management interns are student trainees who gain working experience in the field of property management. These interns are required to prepare comparative analysis and develop marketing strategies that can promote commercial real estate properties. They must provide tenant customer service to people with various backgrounds by responding quickly to their needs and requests. They must assist in providing professional tours by scheduling appointments with prospective residents. Property management interns must also work with senior property managers to manage budgets and financial statements.
First, determine the employments status of the property management internship you need to hire. Certain property management internship roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
A property management internship's background is also an important factor in determining whether they'll be a good fit for the position. For example, property management interns from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list shows salaries for various types of property management interns.
| Type of Property Management Internship | Description | Hourly rate |
|---|---|---|
| Property Management Internship | Property, real estate, and community association managers take care of the many aspects of residential, commercial, or industrial properties. They make sure the property is well maintained, has a nice appearance, and preserves its resale or leasing value. | $8-15 |
| Leasing Consultant | A Leasing Consultant specializes in helping property owners secure tenants for their rental properties. Most of the responsibilities include coordinating with landlords to find suitable occupants, posting rental notices and advertisements on various platforms, and monitor the quality of every rental property... Show more | $12-18 |
| Leasing Agent | A leasing agent primarily works to assist and represent property owners when finding and managing tenants. They are in charge of advertising and promoting the properties in different areas or platforms, developing marketing strategies, coordinating with applicants, gathering their requirements, verifying the applicants' paperwork and references, and negotiating leasing terms... Show more | $12-19 |
Including a salary range in your property management internship job description helps attract top candidates to the position. A property management internship salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.
For example, the average salary for a property management internship in Kansas may be lower than in Hawaii, and an entry-level property management internship usually earns less than a senior-level property management internship. Additionally, a property management internship with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Hawaii | $31,436 | $15 |
| 2 | Connecticut | $30,746 | $15 |
| 3 | New York | $30,341 | $15 |
| 4 | Maryland | $28,852 | $14 |
| 5 | Massachusetts | $27,904 | $13 |
| 6 | North Dakota | $26,997 | $13 |
| 7 | Illinois | $26,372 | $13 |
| 8 | Iowa | $26,368 | $13 |
| 9 | Arizona | $26,229 | $13 |
| 10 | Michigan | $25,242 | $12 |
| 11 | Colorado | $25,017 | $12 |
| 12 | Ohio | $24,798 | $12 |
| 13 | Minnesota | $24,021 | $12 |
| 14 | Nebraska | $23,965 | $12 |
| 15 | Texas | $23,609 | $11 |
| 16 | Wisconsin | $22,649 | $11 |
| 17 | Kansas | $22,373 | $11 |
| 18 | South Carolina | $21,883 | $11 |
| 19 | Florida | $21,495 | $10 |
| 20 | Arkansas | $20,718 | $10 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | AlixPartners | $41,192 | $19.80 | 3 |
| 2 | Starwood Capital Group | $32,956 | $15.84 | |
| 3 | Oracle | $31,442 | $15.12 | 588 |
| 4 | Whole Foods Market | $31,311 | $15.05 | |
| 5 | City of Houston | $31,264 | $15.03 | 1 |
| 6 | Compass Group USA | $29,517 | $14.19 | 11 |
| 7 | International Rescue Committee | $29,019 | $13.95 | |
| 8 | Martha's Vineyard Insurance | $28,895 | $13.89 | |
| 9 | Menards | $28,832 | $13.86 | 353 |
| 10 | Walgreens | $28,501 | $13.70 | 197 |
| 11 | Circle K | $27,927 | $13.43 | 4 |
| 12 | Castle Management, Inc. | $27,860 | $13.39 | 12 |
| 13 | Azalea Health | $27,673 | $13.30 | |
| 14 | Risk Strategies | $27,203 | $13.08 | |
| 15 | Allianz of America, Inc. | $26,786 | $12.88 | |
| 16 | Youngstown Neighborhood Development | $26,681 | $12.83 | |
| 17 | Arizona State University | $26,607 | $12.79 | 1 |
| 18 | Cushman & Wakefield | $26,603 | $12.79 | 639 |
| 19 | Great American Insurance | $26,306 | $12.65 | 8 |
| 20 | Aerojet Rocketdyne | $26,108 | $12.55 |
A property management internship job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a property management internship job description:
There are a few common ways to find property management interns for your business:
To successfully recruit property management interns, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.
Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect property management internship candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
Once that's done, you can draft an onboarding schedule for the new property management internship. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
Before you start to hire property management interns, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire property management interns pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
The median annual salary for property management interns is $24,780 in the US. However, the cost of property management internship hiring can vary a lot depending on location. Additionally, hiring a property management internship for contract work or on a per-project basis typically costs between $8 and $15 an hour.