1. University of Southern California
Los Angeles, CA • Private
In-State Tuition
$56,225
Enrollment
19,548
What is a Property Manager?
So get this - as a property manager, you are, in fact, in charge of maintaining a property. From showing apartments to inspecting the property and even meeting with the property owners, it is your job as manager to make sure the property is up to the task.
Generally, you'll just work in an office setting. But those times when you actually have to inspect the property, you'll have to vacate your desk chair. Most of the time, you'll find you're centrally located in an office where residents can come to you to pay rent or submit a complaint.
Many employers expect you to have a college background of some sort, but some will accept a high school diploma with some experience. All in all, becoming a property manager isn't a bad gig. And finding rental properties for potential tenants is only half the fun.
What Does a Property Manager Do
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, operates smoothly, and preserves its resale value.
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.
Property Manager Job Description
A property manager is responsible for the oversight of residential and business properties. Their duties include setting rent rates, finding new tenants, checking credit scores, overseeing repairs and maintenance, managing budgets, and maintaining detailed documentation.
Learn more about Property Manager Job DescriptionProperty Manager Career Paths
As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Using our career map, a property manager can determine their career goals through the career progression. For example, they could start out with a role such as senior property manager, progress to a title such as senior property manager and then eventually end up with the title senior property manager.
Average Salary for a Property Manager
Property Managers in America make an average salary of $49,958 per year or $24 per hour. The top 10 percent makes over $72,000 per year, while the bottom 10 percent under $34,000 per year.
Average Property Manager Salary
$49,958 Yearly$24.02 hourly
What Am I Worth?
Roles and Types of Property Manager
The role of a property manager includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general property manager responsibilities:
- Direct fiscal management of the properties assigned (i.e., maintenance of a/r
- The property manager administers and maintains all phases of community operations under the direction of the regional manager. Works closely with the maintenance manager to monitor all maintenance activities in an effort to ensure resident requests
- Processing applications and income certifications supervising maintenance
There are several types of property manager, including:
Manager
Role:
Responsible for overseeing the entire operation, the manager has a lot of responsibility on his/her or her shoulders. When we say the entire operation, we mean planning, directing, and leading the organization.
Managers should expect to work a little more than a normal 40-hour week. Since they're in charge, they're expected to be available. That's why managers end up typically working 50 hours a week, sometimes you may get away with only working 45 hours, though.
The education requirements for managers vary depending on who you work for. You might be required to have a bachelor's degree, but you might also get away with an associate degree. Now, there are some management positions that require a master's degree but, again, it really all depends on where you take your management career.
- Average Salary: $58,651
- Degree: Bachelor's Degree
Communications Manager
Role:
Public relations, to most, have been thought of as the underrated element in the success of an organization. For those of us who believe in the power of branding and identity, we beg to differ. In 1957, a young public relations Al-Golin gave Ray Kroc a cold call to discuss a potential in marketing for his/her fast-food chain, McDonald's. With a $500 monthly retainer, he/she ran the initiative in encouraging positive newspaper write-ups, contributing to trust banks, and pioneering the hamburger university for employee training. The regal yet humble image McDonald's restaurants carry today is a result of the unwavering vision Al-Golin saw 63 years ago.
The primary role of a communications manager is centered around managing a company's public relations. This involves tasks such as developing marketing materials, executing communications strategies, and producing media reports. Besides that, they oversee publication projects and lead the marketing team.
Employers require a communications manager to have a bachelor's degree that relates to business or communications. At least two years of work experience need to be demonstrated. This role earns, on average, $29 per hour and suits individuals who are passionate about public liaison activities.
- Average Salary: $81,304
- Degree: Bachelor's Degree
Resident Manager
Role:
A resident manager is a general manager who lives in a rental property or a hotel. Your responsibilities include setting up a community environment and managing all resident files for renewal. Overseeing budgeting, training employees, handling problems on-site, and providing orientation to all new residents are also your responsibilities. You are to supervise all residents and take part in all off-site meetings, ensuring consistency in all processes. Additionally, you will supervise young staff in the day-to-day performance to ensure customer satisfaction, and you must be available to assist residents with their needs. Also, you must be a role model with regards to conduct, policies, acceptance of personal differences, diversity, and academic pursuit.
To be a resident manager, you need a bachelor's degree and about 5 years of experience in a related area. You must be able to deal politely with residents to ensure they are satisfied with the services they receive. You must also have excellent supervisory skills. Your average annual salary will be $40,250.
- Average Salary: $50,811
- Degree: Bachelor's Degree
States With The Most Property Manager Jobs
Mouse over a state to see the number of active property manager jobs in each state. The darker areas on the map show where property managers earn the highest salaries across all 50 states.
Average Salary: Job Openings:
Number Of Property Manager Jobs By State
Top Colleges for Property Managers
2. University of Pennsylvania
Philadelphia, PA • Private
In-State Tuition
$55,584
Enrollment
10,764
3. Northwestern University
Evanston, IL • Private
In-State Tuition
$54,568
Enrollment
8,451
4. Villanova University
Villanova, PA • Private
In-State Tuition
$53,308
Enrollment
6,819
5. San Diego State University
San Diego, CA • Private
In-State Tuition
$7,488
Enrollment
30,018
6. Stanford University
Stanford, CA • Private
In-State Tuition
$51,354
Enrollment
7,083
7. Bentley University
Waltham, MA • Private
In-State Tuition
$49,880
Enrollment
4,177
8. New York University
New York, NY • Private
In-State Tuition
$51,828
Enrollment
26,339
9. Arizona State University
Tempe, AZ • Private
In-State Tuition
$10,822
Enrollment
42,529
10. Harvard University
Cambridge, MA • Private
In-State Tuition
$50,420
Enrollment
7,582
Top Skills For a Property Manager
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 15.4% of property managers listed customer service on their resume, but soft skills such as communication skills and customer-service skills are important as well.
Choose From 10+ Customizable Property Manager Resume templates
Zippia allows you to choose from different easy-to-use Property Manager templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Property Manager resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
Property Manager diversity
Property Manager Gender Distribution
Female
62%
Male
38%
After extensive research and analysis, Zippia's data science team found that:
- Among property managers, 61.9% of them are women, while 38.1% are men.
- The most common race/ethnicity among property managers is White, which makes up 63.9% of all property managers.
- The most common foreign language among property managers is Spanish at 67.0%.
Online Courses For Property Manager That You May Like
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Best States For a Property Manager
Some places are better than others when it comes to starting a career as a property manager. The best states for people in this position are New Jersey, New York, Connecticut, and Idaho. Property managers make the most in New Jersey with an average salary of $61,181. Whereas in New York and Connecticut, they would average $60,389 and $60,205, respectively. While property managers would only make an average of $57,405 in Idaho, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. New York
Total Property Manager Jobs: 826
Highest 10% Earn:
$98,000
Location Quotient:
1.28
$60,389
Avg. Salary
2. New Jersey
Total Property Manager Jobs: 409
Highest 10% Earn:
$99,000
Location Quotient:
1.02
$61,181
Avg. Salary
3. Connecticut
Total Property Manager Jobs: 155
Highest 10% Earn:
$98,000
Location Quotient:
0.93
$60,205
Avg. Salary
How Do Property Managers Rate Their Jobs?
Property Manager Reviews
Pros
I believe that as a property manager you are trusted with one of the most intimate areas of a persons life!… their home! That’s one heck of a responsibility because , at the end of the day everything starts and ends with home!
Cons
The only thing I don’t like about working in the property management field is having to turn people away or add them to a waitlist. The demand/need for affordable quality housing is so great… it’s nearly impossible to assist everyone you meet because the demand far exceeds the supply. That is so frustrating and leaves me feeling like I’ve let people down when I don’t have anything available. Sometimes hearing the desperation in their voices gets to me and I find myself upset when I am unable yo help them.
Pros
Working with people and providing 4 star service. Great opportunity to prove your leadership skills running a large scale operation.
Cons
If you are not a people person, don't like long hours, or keeping calm in stressful situations, this job is not for you.
Top Property Manager Employers
Most Common Employers For Property Manager
| Rank | Company | Average Salary | Hourly Rate | Job Openings |
|---|---|---|---|---|
| 1 | Aimco | $53,199 | $25.58 | 164 |
| 2 | Cushman & Wakefield | $50,861 | $24.45 | 109 |
| 3 | JLL | $50,332 | $24.20 | 91 |
| 4 | Greystar Real Estate Partners | $49,978 | $24.03 | 123 |
| 5 | Equity Management | $49,241 | $23.67 | 64 |
| 6 | Village Green | $48,863 | $23.49 | 113 |
| 7 | Robert Half | $48,807 | $23.46 | 113 |
| 8 | Trinity Property Consultants | $48,219 | $23.18 | 63 |
| 9 | The John Stewart Company | $47,992 | $23.07 | 81 |
| 10 | 1st National Financial | $47,854 | $23.01 | 110 |
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
Becoming a Property Manager FAQs
How Long Does It Take To Become A Property Manager?
It takes 6 years of professional experience to become a property manager. That is the time it takes to learn specific property manager skills, but does not account for time spent in formal education. If you include the normal education requirements to complete a college degree, then it takes 9 to 11 years years to become a property manager.
Do I Need Qualifications To Be A Property Manager?
Yes, you need qualifications to be a property manager. Like most jobs, in order to become a property manager a person needs to meet a certain set of qualifications.
The minimum qualifications to be a property manager include a high school diploma or its equivalent and some real estate licensing coursework and a passing score on the real estate examination (typically required by state law).
Do Property Managers Make Good Money?
Yes, property managers make good money. Property managers make an average annual income of $100,000 in a year, with an average hourly rate of $48. However, the typical range for this job is between $87,000 and $116,000.
How Do Property Managers Get Paid?
Property managers get paid an annual salary typically. Salaried property managers get paid a base salary, a bonus, disability, health coverage, time off pay, and other benefits. On average, base salary makes up nearly 70% of the total compensation.
Is Being A Property Manager Hard?
No, being a property manager is not hard. While being a property manager has its challenges, just like any role, it is not hard to do as long as a person is organized.
The hardest part of being a property manager is finding and keeping tenants and ensuring they are satisfied with their living conditions. Managing rental properties requires constant attention. There are always issues that a property manager will need to handle, and these do not always come up in a typical 9-5 time period.
What Are Careers In Property Management?
Asset manager, regional property manager, and on-site property manager are all careers in property management. Although these all are in property management, there are different factors and skills needed in each of them that will attract different personalities and people.
On-Site Property Manager
Many property managers will begin on-site as this gives the opportunity to learn many different skills as you are right around the properties constantly. They help to keep the property functioning correctly. This is crucial career development for property management. The salary range for on-site property managers is 32k-64k in the US.
Asset Manager
Asset managers focus on the financial performance of a property. Typically, they will oversee a portfolio of properties. They focus on the appreciation and current cash flow of properties and do not typically focus on day-to-day operations.
Typically, asset managers will be required to have a strong background in finance or a related field as they will be dealing with financial performance. The salary range for an asset manager is $50k-$120k in the US.
Regional Property Manager
Regional property managers often work on a portfolio of properties, rather than focus on one single property. Often, you will need to have experience on-site before becoming a regional manager. It is imperative that one has experience before working in this role. The median salary is $113,860, which reflects this needed experience.
What Kind Of Education Do You Need To Be A Property Manager?
The kind of education you need to be a property manager is a high school diploma or equivalent, at minimum. Additionally, some real estate licensing coursework and a passing score on the real estate examination are typically required by state law.
Landlord Vs. Property Manager
A landlord is a person that owns a rental property, while a property manager is someone who manages rental property.
A landlord is a person or corporate entity that owns a property and rents it out to tenants in return for rental payments. A landlord can rent to either residential or commercial tenants depending on zoning restrictions and the type of property. They may rent out apartments, houses, or other living units, to people or they may rent out commercial spaces to businesses.
Have more questions? See all answers to common executive management questions.