In the realm of real estate, the importance of a property manager is extremely high. These professionals are involved in preserving the resale value of residential, commercial, or industrial property. They may also be involved in the operation of the property and its aesthetics. If you want to know how to become a property manager, but are unsure of the process, our guide will help you understand what goes in to entering this profession.
Property Manager Responsibilities
Besides maintaining the overall look of a given property and its operation, the property manager will be responsible for various other aspects of the real estate as well:
Meeting with prospective renters and buyers and showing them the property
Discussing the lease terms
Collecting monthly fees
Inspecting buildings and all facilities and ordering repairs for all damages
Settling disturbances and investigating complaints
Ensuring that the buildings or properties under his or her care comply with the Americans with Disabilities Act and other federal laws.
In many ways, the job of a property manager is to ensure that the revenues which are generated from a given property are at their maximum possible levels. They may also be hired by individuals or companies to manage properties on their behalf.
How to Become a Property Manager
While a high school diploma or equivalent may suffice for some employers, most favor candidates possessing a college degree. The education gained in college helps develop a person's skill set and allows them to specialize in the field of real estate, which helps to make them more suited for this career. A bachelor's degree in business administration, finance, or related business subjects will allow you to handle commercial properties on behalf of various employers. Public administration is also a preferred degree among individuals who would like to enter this industry.
Certification in property management adds credibility to your resume and increases your chances of gaining employment. Certification programs are offered by various institutions, and employers will often send out their new recruits to these programs in order to gain more experience. If you feel you do not have enough time to attend certification classes while working full-time, then you may want to consider taking an online certification program. Online education offers flexible class schedules that fit within your current schedule, and you do not have to attend classes on a campus.
Customer-service skills are important in this line of work, since your job includes interacting with clients on a frequent basis. In addition to this, a good property manager will have an excellent organizational ethic. This is necessary because a single manager may be in charge of multiple properties, and must be able to keep a close tab on all of them and plan ahead for any repairs or other events.
The US Bureau of Labor Statistics projects the growth in this industry to be at about 6%, which is slower than the national average. The good news is that the median annual salary in this field in 2010 was $51,480. If you feel you have what it takes for this job, then you may want to consider entering into this field.