What does a Property Manager do?
A property manager is responsible for overseeing properties to assure it has a nice appearance, proper maintenance, and maintains it’s resale value. They show the property to prospective renters and discusses the lease requirements and terms of occupancy. They collect monthly fees and pay or delegate bill payments like taxes, insurance, maintenance, and payroll.
How to Become a Property Manager
Most employers ask for a property manager to 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. Some managers must also have a real estate license as this is a valuable background when showing commercial properties. Some states require a real estate license to show properties.
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 a tenant or any violations committed on the property.
A property manager must keep accurate records of all rental activity and any owner requests. They must also prepare financial and budget reports. Property managers most often work out of an office except when showing or inspecting properties.
About half of property managers are self-employed. The Bureau of Labor Statistics projects a 8% growth in 2012-2022 in this occupation.