Real Estate Property Managers
Real Estate Companies > Commercial Real Estate • Residential Real Estate • Property Managers
Property and real estate managers maintain and manage properties.
They oversee rental properties, both commercial and residential, to ensure
that they are producing projected revenue. They may also manage the
everyday maintenance and running of rental homes, offices and office
parks, commercial facilities, condominiums, and apartments.
Property and real estate managers are responsible for collecting rent,
ensuring that utilities are paid, paying taxes and insurance premiums,
collecting association dues, hiring employees, and managing payroll.
While no specific level of education is required, most property and real estate managers are college graduates with coursework in finance, accounting, business administration, or real estate. In some situations, on-the-job training and experience can take the place of formal education. Many property and real estate managers begin in an assistant role, where they learn under the mentorship of a more experienced manager.
The work environment for property and real estate managers is typically an office setting, combined with a portion of time spent at properties showing them to prospective renters, dealing with issues and problems, and making sure properties are properly maintained by staff. Hours are flexible, and real estate and property managers often find themselves working a combination of hours that comprise the workweek, nights, and weekends.
In addition to having knowledge in practical and legal matters associated with real estate, property and real estate managers should have experience with building maintenance, should have excellent administrative and financial skills, and should be good at working with people. Excellent negotiation skills are also sought after by those hiring real estate and property managers.
Opportunities for real estate and property managers remain plentiful, especially for those with college degrees, applicable coursework, and experience. More than half of all real estate and property managers are self-employed.
For more information about property management careers, visit the Institute of Real Estate Management website. For information about commercial property management jobs, visit the Building Owners and Management Institute site. For information about residential and community association management occupations, visit the Community Associations Institute and National Board of Certification for Community Association Managers websites.