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Property management specialist hiring summary. Here are some key points about hiring property management specialists in the United States:
Here's a step-by-step property management specialist hiring guide:
A property management specialist is responsible for managing the contracts and leasing opportunities for residential and commercial properties to potential tenants. Property management specialists evaluate the value of the properties according to market performance and determine the eligibility of tenant applicants in acquiring the property. They also inspect the condition of the property's overall facilities to identify possible repairs and renovations to ensure the safety and security of the tenants. A property management specialist must have excellent communication and organizational skills, especially in processing documents and organizing billing reports.
Before you start hiring a property management specialist, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
A property management specialist's background is also an important factor in determining whether they'll be a good fit for the position. For example, property management specialists 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.
Here's a comparison of property management specialist salaries for various roles:
| Type of Property Management Specialist | Description | Hourly rate |
|---|---|---|
| Property Management Specialist | 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. | $12-37 |
| 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 specialist job description helps attract top candidates to the position. A property management specialist 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 specialist in Arkansas may be lower than in Connecticut, and an entry-level property management specialist usually earns less than a senior-level property management specialist. Additionally, a property management specialist 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 | California | $66,032 | $32 |
| 2 | Pennsylvania | $60,597 | $29 |
| 3 | Maryland | $58,481 | $28 |
| 4 | District of Columbia | $58,049 | $28 |
| 5 | Virginia | $57,787 | $28 |
| 6 | Michigan | $52,927 | $25 |
| 7 | Massachusetts | $51,943 | $25 |
| 8 | Illinois | $49,688 | $24 |
| 9 | Nevada | $49,291 | $24 |
| 10 | New York | $48,435 | $23 |
| 11 | Texas | $43,883 | $21 |
| 12 | Washington | $43,861 | $21 |
| 13 | Arizona | $42,686 | $21 |
| 14 | Ohio | $42,125 | $20 |
| 15 | Oregon | $39,585 | $19 |
| 16 | Utah | $39,225 | $19 |
| 17 | Georgia | $38,409 | $18 |
| 18 | Colorado | $34,868 | $17 |
| 19 | Tennessee | $33,381 | $16 |
| 20 | Florida | $33,292 | $16 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Meta | $110,537 | $53.14 | 122 |
| 2 | Brookfield Properties | $82,174 | $39.51 | 21 |
| 3 | Jacobs Engineering Group | $80,013 | $38.47 | |
| 4 | Bank of America | $74,897 | $36.01 | 125 |
| 5 | Erie Insurance | $64,769 | $31.14 | 28 |
| 6 | Dana-Farber Cancer Institute | $61,612 | $29.62 | 2 |
| 7 | BXP | $59,920 | $28.81 | 13 |
| 8 | Baptist Health Care | $57,100 | $27.45 | |
| 9 | Nationwide | $55,981 | $26.91 | 53 |
| 10 | Sedgwick LLP | $55,257 | $26.57 | 69 |
| 11 | Woodruff Sawyer | $54,514 | $26.21 | |
| 12 | Booz Allen Hamilton | $53,565 | $25.75 | 29 |
| 13 | Lowe Hauptman & Ham, Llp | $51,865 | $24.94 | |
| 14 | ServiceMaster Restore | $50,586 | $24.32 | 7 |
| 15 | OSSCube | $50,161 | $24.12 | |
| 16 | Textron | $49,984 | $24.03 | 27 |
| 17 | Intrepid Solutions and Services | $49,164 | $23.64 | |
| 18 | The Blackstone | $48,899 | $23.51 | 4 |
| 19 | trak group | $48,759 | $23.44 | 1 |
| 20 | General Services Corporation | $48,676 | $23.40 | 8 |
A job description for a property management specialist role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a property management specialist job description:
There are a few common ways to find property management specialists for your business:
Your first interview with property management specialist candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you have selected a candidate for the property management specialist position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the 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 specialist. 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.
There are different types of costs for hiring property management specialists. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new property management specialist employee.
The median annual salary for property management specialists is $45,835 in the US. However, the cost of property management specialist hiring can vary a lot depending on location. Additionally, hiring a property management specialist for contract work or on a per-project basis typically costs between $12 and $37 an hour.