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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

  • $49,000

    Average Salary

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.

Duties

Property, real estate, and community association managers typically do the following:

  • Meet with prospective renters and show them properties
  • Discuss the lease and explain the terms of occupancy or ownership
  • Collect monthly fees from tenants or individual owners
  • Inspect all building facilities, including the grounds and equipment
  • Arrange for new equipment or repairs as needed
  • Pay bills or delegate bill payment for such expenditures as taxes, insurance, payroll, and maintenance
  • Contract for trash removal, maintenance, landscaping, security, and other services
  • Investigate and settle complaints, disturbances, and violations
  • Keep records of rental activity and owner requests
  • Prepare budgets and financial reports
  • Comply with anti-discrimination laws when renting or advertising, such as the Americans with Disabilities Act, the Federal Fair Housing Amendment Act, and local fair housing laws

When owners of homes, apartments, office buildings, or retail or industrial properties lack the time or expertise needed for the day-to-day management of their real estate properties, they often hire a property or real estate manager or a community association manager. Managers are employed either directly by the owner or indirectly through a contract with a property management firm.

The following are examples of types of property, real estate, and community association managers:

Property and real estate managers oversee the operation of income-producing commercial or residential properties and ensure that real estate investments achieve their expected revenues. They handle the financial operations of the property, making certain that rent is collected and that mortgages, taxes, insurance premiums, payroll, and maintenance bills are paid on time. They may oversee financial statements, and periodically report to the owners on the status of the property, occupancy rates, expiration dates of leases, and other matters. When vacancies occur, property managers may advertise the property or hire a leasing agent to find a tenant. They may also suggest to the owners what rent to charge.

Community association managers work on behalf of homeowner or community associations to manage the communal property and services of condominiums, cooperatives, and planned communities. Usually hired by a volunteer board of directors of the association, they manage the daily affairs and supervise the maintenance of property and facilities that the homeowners use jointly through the association. Like property managers, community association managers collect monthly fees, prepare financial statements and budgets, negotiate with contractors, and help to resolve complaints. Community association managers also help homeowners and non-owner residents comply with association rules and regulations.

Onsite property managers are responsible for the day-to-day operation of a single property, such as an apartment complex, an office building, or a shopping center. To ensure that the property is well maintained, onsite managers routinely inspect the grounds, facilities, and equipment to determine whether maintenance or repairs are needed. They meet with current tenants to handle requests for repairs or to resolve complaints. They also meet with prospective tenants to show vacant apartments or office space. In addition, onsite managers enforce the terms of rental or lease contracts along with an association’s governing rules. They make sure that tenants pay their rent on time, follow restrictions on parking or pets, and follow the correct procedures when the lease is up. Other important duties of onsite managers include keeping accurate, up-to-date records of income and expenditures from property operations and submitting regular expense reports to the senior-level property manager or the owner(s).

Real estate asset managers plan and direct the purchase, sale, and development of real estate properties on behalf of businesses and investors. They focus on long-term strategic financial planning, rather than on the day-to-day operations of the property. In deciding to acquire property, real estate asset managers consider several factors, such as property values, taxes, zoning, population growth, transportation, and traffic volume and patterns. Once a site is selected, they negotiate contracts to buy or lease the property on the most favorable terms. Real estate asset managers review their company’s real estate holdings periodically and identify properties that are no longer financially profitable. They then negotiate the sale of the properties or arrange for the end of leases.

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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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Average Length of Employment
Property Developer 4.3 years
Property Manager 4.0 years
Apartment Manager 3.4 years
Resident Manager 3.4 years
Leasing Director 3.0 years
Leasing Manager 2.7 years
Top Careers Before Property Manager
Manager 5.3%
Cashier 4.5%
Owner 3.0%
Internship 2.1%
Top Careers After Property Manager
Manager 5.6%
Owner 5.0%
Cashier 4.0%
Realtor 3.1%

Do you work as a Property Manager?

Average Yearly Salary
$49,000
Show Salaries
$32,000
Min 10%
$49,000
Median 50%
$49,000
Median 50%
$49,000
Median 50%
$49,000
Median 50%
$49,000
Median 50%
$49,000
Median 50%
$49,000
Median 50%
$76,000
Max 90%
Best Paying Company
Nokia
Highest Paying City
New York, NY
Highest Paying State
New York
Avg Experience Level
4.2 years
How much does a Property Manager make at top companies?
The national average salary for a Property Manager in the United States is $49,437 per year or $24 per hour. Those in the bottom 10 percent make under $32,000 a year, and the top 10 percent make over $76,000.

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 -
$157,000
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
Oil and Gas Property Manager W.T.Moran Company, Inc. Austin, TX Jun 18, 2015 $72,405
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
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 Jan 10, 2016 $52,175
Property Manager, Finance Dwight A. McDonald, Pa Brandon, FL Sep 08, 2016 $52,175
Property Manager TUP Academy LLC New Brunswick, NJ Sep 23, 2016 $52,000
Property Manager World Class Capital Group LLC Austin, TX Sep 30, 2015 $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

  1. Vacant Units
  2. Residential Properties
  3. Occupancy Rate
You can check out examples of real life uses of top skills on resumes here:
  • Maintained property by investigating and resolving resident complaints, enforcing rules of occupancy, inspecting vacant units, and planning renovations.
  • Prepared annual budgets and monthly reporting for commercial and residential properties located in the Washington D.C. metropolitan area.
  • Provided overall coordination of maintenance staff and contractors to maintain property in move-in condition, resulting in consistently high occupancy rates.
  • Determined and certified the eligibility of prospective tenants, following government regulations (Fair Housing) and company policies and requirements.
  • Prepared annual operating budget, analyzed financial statements, and provided monthly variance reports for all projects within portfolio for investors.

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Top 10 Best States for Property Managers

  1. New York
  2. Illinois
  3. District of Columbia
  4. Indiana
  5. Wisconsin
  6. Oregon
  7. Connecticut
  8. Delaware
  9. Pennsylvania
  10. Ohio
  • (163 jobs)
  • (165 jobs)
  • (47 jobs)
  • (53 jobs)
  • (38 jobs)
  • (76 jobs)
  • (24 jobs)
  • (4 jobs)
  • (98 jobs)
  • (104 jobs)

Property Manager Resume Examples And Tips

The average resume reviewer spends between 5 to 7 seconds looking at a single resume, which leaves the average job applier with roughly six seconds to make a killer first impression. Thanks to this, a single typo or error on your resume can disqualify you right out of the gate. At Zippia, we went through over 94,636 Property Manager resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Create A Top Notch Property Manager Resume

View Resume Examples

Property Manager Demographics

Gender

Female

56.6%

Male

34.3%

Unknown

9.1%
Ethnicity

White

62.2%

Hispanic or Latino

16.2%

Black or African American

11.8%

Asian

6.2%

Unknown

3.7%
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Foreign Languages Spoken

Spanish

67.0%

French

6.9%

German

3.6%

Portuguese

3.2%

Italian

3.0%

Russian

2.5%

Chinese

2.1%

Mandarin

2.1%

Arabic

1.6%

Cantonese

0.9%

Japanese

0.8%

Polish

0.8%

Hebrew

0.8%

Greek

0.8%

Korean

0.8%

Carrier

0.8%

Hindi

0.7%

Dutch

0.6%

Tagalog

0.5%

Thai

0.4%
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Property Manager Education

Schools

University of Phoenix

30.7%

Ashford University

6.6%

Kaplan University

6.4%

Strayer University

5.7%

Liberty University

4.0%

New York University

3.8%

Arizona State University

3.5%

Miami Dade College

3.5%

Florida State University

3.4%

The Academy

3.3%

Michigan State University

3.3%

American InterContinental University

3.2%

University of Central Florida

3.1%

University of Houston

2.9%

Florida International University

2.9%

Georgia State University

2.9%

University of Florida

2.8%

Pennsylvania State University

2.7%

Ohio State University

2.7%

Southern New Hampshire University

2.7%
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Majors

Business

37.5%

Real Estate

7.7%

Accounting

6.6%

Management

5.0%

Psychology

4.8%

Criminal Justice

4.2%

Marketing

3.5%

Communication

3.5%

General Studies

3.2%

Health Care Administration

3.0%

Finance

3.0%

Education

2.5%

Liberal Arts

2.4%

Nursing

2.1%

Human Resources Management

1.9%

Political Science

1.9%

Medical Assisting Services

1.8%

Computer Science

1.8%

Legal Support Services

1.8%

English

1.8%
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Degrees

Bachelors

36.3%

Other

30.4%

Associate

14.4%

Masters

8.8%

Certificate

5.3%

License

2.3%

Diploma

1.5%

Doctorate

1.0%
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