How to Become a Property Manager?
Steps to Become a Property ManagerA property manager is responsible for the overall operational and financial management of industrial, residential, and commercial properties. Specific tasks may include managing budget, dealing with maintenance, collecting rent, and addressing tenant concerns. Here are five steps on how to become a property manager.
Do research on the job market.
There is a vast variation in the job market for property managers across the different states. You may find that the area you're located in has an abundance of jobs available or very few, which may mean you need to relocate to another area. The potential job market may also help you determine whether you should pursue your education, obtain certifications, or if you're ready to enter the workforce now as a property manager
Get your education.
Depending on your area and the job you wish to pursue, you may only need a high school diploma or equivalent education to begin working as a property manager. Some employees prefer you to have an undergraduate degree in a field such as finance, business administration, property management, or another related field. These courses may help you understand the legal and financial aspects of the job.
Other employees may prefer you have your real estate license. This license can be completed in as little as six months and requires between 60 and 90 hours of coursework. If you decide to relocate, you'll often be able to transfer your license.
What type of degree should you pursue to become a Property Manager?
74% of people working as a Property Manager earned a Bachelor's Degree
What skills do you need to be a Property Manager?
- Microsoft Office Suite
- Excellent Communication
- Security Clearance
- Test Equipment
You can obtain certifications in addition to or as a lower-cost option in place of an undergraduate degree program for those wishing to become a property manager. The Institute of Real Estate Management issues a property management certificate, which is often required to begin work. You'll be required to complete ten courses, have on-the-job experience, and take several exams. You will have to pay the dues and submit letters of recommendation.
Create a specialized resume.
Once you've successfully obtained your education and certification, you're ready to begin creating the resume you'll submit to potential employers. Include your related courses of study. Create a customized cover letter for each job application. Keep things simple and to the point. You should highlight the skills that your potential employer will be looking for in a property manager. Doing so will help you stand apart from the crowd. These skills include:
- Organization. Emphasize multitasking, time management, and organizational systems such as labeling, coding, and filing.
- Communication. Being able to effectively communicate with clients and other individuals you'll encounter daily or weekly is vital. You'll need to be able to adjust your communication styles to suit individual needs.
- Patience. Being able to remain calm as issues arise will help make you a successful property manager.
Apply for jobs.
Submitting your application and resume to property manager job openings that you're qualified for is the next step. You can expect the following responsibilities as a property manager:
- Responding to owner and tenant communications.
- Advertising properties.
- Screening potential tenants.
- Supervise maintenance of the property and ensure repairs are completed in a timely fashion.
- Serve as a liaison between tenants and owners.
Property Manager Career Path
Senior Property Manager
Lead Property Manager
Total Pay Trajectory
Property Manager Career Path
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