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The differences between residential managers and property managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a residential manager and a property manager. Additionally, a property manager has an average salary of $49,958, which is higher than the $39,112 average annual salary of a residential manager.
The top three skills for a residential manager include developmental disabilities, oversight and incident reports. The most important skills for a property manager are customer service, property management, and financial reports.
| Residential Manager | Property Manager | |
| Yearly salary | $39,112 | $49,958 |
| Hourly rate | $18.80 | $24.02 |
| Growth rate | 12% | 3% |
| Number of jobs | 11,464 | 15,402 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 50% |
| Average age | 45 | 48 |
| Years of experience | 6 | 6 |
A residential manager coordinates and oversees all activities that happen in a residential building. They work with their employers to market their apartments and ensure all the occupants qualify to be in the building. They are often the face of the building and also manage the financials of the residential building. Their duties and responsibilities include marketing the building, encouraging tenants, and keeping financial records of all property operations.
Property managers are responsible for overseeing the real estate properties of their clients. They manage property rentals and leasing and ensure that the terms on these rentals are by what the owner is amenable to. Property managers act as the representative of their client during negotiations and deals. They also set rental prices and other finance-related items since they are familiar with how the market looks. Besides dealing with financial matters, they also manage administrative matters such as enforcing rules and policies, crafting reports, managing contractors, and drafting related documents.
Residential managers and property managers have different pay scales, as shown below.
| Residential Manager | Property Manager | |
| Average salary | $39,112 | $49,958 |
| Salary range | Between $29,000 And $52,000 | Between $34,000 And $72,000 |
| Highest paying City | Los Angeles, CA | New York, NY |
| Highest paying state | California | New Jersey |
| Best paying company | The Kennedy Center Inc. | Nokia |
| Best paying industry | Government | Professional |
There are a few differences between a residential manager and a property manager in terms of educational background:
| Residential Manager | Property Manager | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 50% |
| Most common major | Psychology | Business |
| Most common college | University of Pennsylvania | University of Southern California |
Here are the differences between residential managers' and property managers' demographics:
| Residential Manager | Property Manager | |
| Average age | 45 | 48 |
| Gender ratio | Male, 33.7% Female, 66.3% | Male, 38.1% Female, 61.9% |
| Race ratio | Black or African American, 11.7% Unknown, 5.4% Hispanic or Latino, 14.7% Asian, 5.2% White, 62.0% American Indian and Alaska Native, 0.9% | Black or African American, 8.5% Unknown, 4.1% Hispanic or Latino, 17.6% Asian, 5.3% White, 63.9% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 14% | 12% |