The job of a property manager is to oversee commercial and residential facilities' to ensure safety and maintenance of property. They are basically hired to manage rental properties. It is the property manager who reports to the owner or any of the senior authorities through a property management company or firm. Property managers are employed to ensure everything related to the facility functions smoothly.
Job Responsibilities
There are quite a few responsibilities that a property manager has to undertake. They need to ensure the maintenance of the property within a vacancy rate that is low. The management of rental procedures and processes are also done by the property manager, along with various properties promotional aspects too. They are responsible for all the advertisements, property promotions, reviews, approval of rental applications, etc.
Other responsibilities include collection of rent, enforcement of lease terms, providing services to the customers or tenants, resolving the complaints of tenants, security issues etc, coordination, maintenance of facilities, management of relationship with vendors, routine inspections of property, claiming of damages etc are some of the duties that a property manager has to undertake and see to its completion. Maintenance and creation of all the finance records, reports etc of all the facilities and presenting them to the authorities and management is also a part of the responsibilities coming under the portfolio of a property manager.
Educational Criteria for This Field
All applicants must at least have a high school graduation and best a graduate degree. A bachelor's or master's degree in business administration and management or real estate will be preferred by most property management firms. Employers are in search of professionals who have at least a four-year degree, with prior experience in property management. One aspiring to be a property manager can also advance as a real estate broker.
Skill Requirements
To attain success as a property manager, the individual must have great interpersonal and communications skills. This is because they need to deal with various people including tenants, owners and be a source of communication between both the parties, whether within commercial or residential property. These could be people coming from a wide array of cultures or backgrounds. You must have an impressive personality, so as to be able to interact confidently with people hailing from different backgrounds and demographics. Property managers must also know about property laws and guidelines and should have exceptional organizational skills. They must also have the ability to work independently, making vital decisions without any hindrances whatsoever.
Career Prospects
A property manager can earn anywhere around $78,582 and above, depending on the nature of the firm, where he or she is employed and also other factors, like location, experience, education, etc. Growth and opportunity is anticipated to increase to over 15% by within the next 3 or 4 years. Property managers can be employed either by independent or even public management companies. Government agencies also hire such professionals. Therefore, the job outlook is quite promising in the property management sector. The organization, whether profit or nonprofit does not affect the job quality.
