Property managers also known as community association managers are responsible for overseeing properties to assure it has a nice appearance, proper maintenance, and keeps it’s resale value. They show the property to prospective renters and discuss requirements and terms of occupancy. They may collect monthly fees, pay or delegate bill payments like taxes, insurance, maintenance, and payroll.
How to Become a Property Manager
Most employers prefer that a property manager have a bachelor’s degree or may even ask for a master’s degree in accounting, business administration, real estate, finance, or public administration. Some employers may consider a high school diploma depending on the job or if they offer vocational training. In addition some property managers are required to have a real estate license as this is a valuable background when showing commercial properties.
Pending on what state you reside in and what title you hold you may also be required to obtain professional credentials by attending additional training in management skills or specified fields such as mechanical systems, risk management, personnel management, laws and regulations, liabilities, tenant relations, and financial concepts that may be necessary to be effective in their job duties.
Job Description of a Property Manager
A property manager contracts properties landscaping, trash removal, security, swimming pool maintenance, and other services. They also investigate and resolve any complaints from tenants or address any violations committed on the property.
A property manager keeps accurate records of all rental activity and any owner requests. They must also prepare financial and budget reports. Property managers show potential tenants properties and inspect properties as tenants move out. About half of property managers are self-employed but others work for complexes or associations. At times they may be required reside or get discounted rates to live in the apartment complexes where they work thus are available to respond to emergencies when necessary.
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Property, Real Estate, and Community Association Managers.
National Center for O*NET Development. 11-9141.00. O*NET OnLine.