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Become A Property Manager

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Working As A 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

  • $52,000

    Average Salary

What Does A Property Manager Do

A Property Manager’s role is to manage property rentals through advertising and filling vacancies. They inspect and arrange the maintenance of properties to meet the required standards and collect rent from tenants.

How To Become A 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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Property Manager jobs

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Property Manager Demographics

Gender

  • Female

    61.4%
  • Male

    36.9%
  • Unknown

    1.7%

Ethnicity

  • White

    80.1%
  • Hispanic or Latino

    11.4%
  • Asian

    6.5%
  • Unknown

    1.5%
  • Black or African American

    0.5%
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Languages Spoken

  • Spanish

    63.6%
  • French

    7.8%
  • German

    3.5%
  • Portuguese

    3.4%
  • Italian

    2.9%
  • Mandarin

    2.7%
  • Chinese

    2.5%
  • Arabic

    2.1%
  • Russian

    2.0%
  • Korean

    1.2%
  • Japanese

    1.1%
  • Hindi

    1.0%
  • Hebrew

    1.0%
  • Greek

    0.9%
  • Carrier

    0.9%
  • Dutch

    0.8%
  • Thai

    0.8%
  • Armenian

    0.6%
  • Cantonese

    0.6%
  • Urdu

    0.6%
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Real Property Manager Salaries

Job Title Company Location Start Date Salary
Global Intellectual Property Manager Aristocrat Technologies, Inc. AZ Mar 15, 2012 $230,000
Property Manager Lexington Insurance Company Southfield, MI Sep 14, 2011 $190,000
Property Manager Risk Specialists Companies Insurance Agency, Inc. Southfield, MI Sep 26, 2011 $190,000
Intellectual Property Manager Advanced Bionics, LLC Santa Clarita, CA Oct 16, 2013 $132,000 -
$150,000
Property Manager American Business Institute Corp. NY Sep 01, 2015 $123,000
Rental Properties Manager Blvd Capital, LLC Beverly Hills, CA Nov 20, 2016 $120,000
Intellectual Property Dvlpmnt. Manager/Staff Paten Schneider Electric It America Corp. Billerica, MA Dec 10, 2013 $116,616
Manager, Intellectual Property and Innovation Starshr, Inc. Wilmerding, PA Sep 15, 2015 $114,785
Property Manager North Dakota Bakken Connection LLC Williston, ND Aug 23, 2016 $113,256
Rental Properties Manager Blvd Capital, LLC Beverly Hills, CA May 17, 2016 $110,000
Intellectual Property and Innovation Manager Starshr, Inc. Wilmerding, PA Jul 06, 2015 $110,000
Property Manager Prague Property Management, Inc. San Francisco, CA Jul 27, 2016 $108,000
Property Manager Werber Management, Inc. NY Apr 25, 2013 $102,758
Property Manager GNP Management Group Chicago, IL Jul 08, 2014 $71,229
Property Manager Blakebrook Developments USA LLC Lone Tree, CO Mar 16, 2015 $70,000
Property Manager Florida Homes Property Management LLC Cape Coral, FL Mar 10, 2016 $69,950
Property Manager Five-Star Properties, Inc. Nantucket, MA May 20, 2016 $65,250
Intellectual Property Manager Ahlstrom Nonwovens LLC Windsor Locks, CT Sep 05, 2016 $64,000
Manager, Airport Affairs and Property Management Spirit Airlines Miramar, FL Nov 16, 2015 $61,069 -
$83,000
Property Manager Aglaia LLC Roslyn, NY Jan 10, 2016 $60,523
Residential Property Manager Titanium Realty Group LLC New York, NY Sep 12, 2015 $60,000
Property Manager IBS Us LLC Springfield, VA Apr 15, 2016 $52,238
Condo Association Property Manager GTI Properties, Inc. Boston, MA Sep 10, 2015 $52,175
Property Manager, Finance Dwight A. McDonald, Pa Brandon, FL Sep 08, 2016 $52,175
Property Manager, Finance Dwight A. McDonald, Pa Brandon, FL Jan 10, 2016 $52,175
Property Manager World Class Capital Group LLC Austin, TX Sep 30, 2015 $52,000
Property Manager TUP Academy LLC New Brunswick, NJ Sep 23, 2016 $52,000
Property Manager NYRE MGMT, Corp. New York, NY Oct 31, 2011 $51,626
Property Manager Triton Interests, Ltd Houston, TX Feb 14, 2011 $51,418

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Top Skills for A Property Manager

VacantUnitsOccupancyRateMonthlyFinancialReportsCustomerServicePropertyOwnersPropertyManagementPayrollRentCollectionRentalPropertiesSuperviseRealEstateMaintenanceStaffAnnualBudgetProspectiveTenantsHUDBankDepositsRentPaymentsDailyOperationsResidentRetentionYardi

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Top Property Manager Skills

  1. Vacant Units
  2. Occupancy Rate
  3. Monthly Financial Reports
You can check out examples of real life uses of top skills on resumes here:
  • Listed units for rent and scheduled appointments, showed vacant units and wrote leases.
  • Awarded Outstanding Employee Team of the Year in 2007 for highest occupancy rates, superior customer satisfaction and negotiating ability.
  • Created staff schedules in response to community needs Did monthly financial reports for owners.
  • Provide outstanding customer service by helping customers understand their needs and recommend storage solutions.
  • Worked closely with leasing agents and private property owners providing excellent 3rd party management.

Top Property Manager Employers

Property Manager Videos

A Day In the Life of a Property Manager.

What Does a Property Manager Do?

A Typical Day in the Life of a Property Manager

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