What does a property manager do?
A property manager can work for themselves or contract with a property management company. They are responsible for overseeing the day-to-day management of residential and commercial rental properties for the owner. While they often work in an office setting, property managers will also work onsite or travel from property to property during the work day. Common tasks for property managers include showing properties to prospective renters, understanding and explaining the leasing terms of each property, keeping rental records for the properties they oversee, settling disputes or violations with tenants, and oversee the maintenance of properties.
What is the average salary of a property manager?
According to the Bureau of Labor Statistics, property managers can earn an average yearly salary of $59,660, or $28.68 per hour.* However, how much you can make as a property manager can vary based on experience, education, the state you live in, or the company you work for.
How do I start a career in property management?
To become a property manager, you generally need to first have a degree in a relevant field like real estate or business management. Real estate and business courses, however, don't necessarily cover all the elements that are essential to managing a property so students interested in pursuing this career often supplement their education and experience with a certificate program in property management. Earning a certificate alone doesn't qualify students for property management jobs, so it's important to have a background in real estate or business. Further, most states have regulations regarding who can become property managers and require licensing or certification to work in the field.
What are the top qualities of a good residential property manager?
A good property manager is detail-oriented and organized, with strong leadership and communication skills. As they are often responsible for managing their own day-to-day tasks, they should have excellent time management skills as well. Property managers should also have an understanding of fair housing laws, property valuation, and real estate law, all of which you can build in our Property Management Certificate Program.