Property Manager

 

What is property management?

Property management is the operation and controlling of real estates which includes, houses, lands. It is the management of personal property and physical capital assets which require building, repairing and maintenance.

Role of a property manager:

A property manager’s role is very crucial in property management. He acts as a liaison between the landlord and the tenant. Some of his duties include accepting the rent, responding to and addressing maintenance issues. There are also other facets to this profession.

In most of the cases a property manager needs to attract the tenants to buying the property. This is a very tedious job. Many a times a property manager has to attend to paperwork. A property manager has to have good communications skills and organizational skills; because he has to talk clients of different nature and deal with them in a proper way so that they do not turn away. The main purpose when a client contacts a property manager mostly is when flooded basements, or a burglary. Here the property manager should be proactive. When there are landlords who are miser and do not attend to any issues with the house, the property manager has to take a quick decision and react to the tenants problem. Onsite managers have to show tenants, site and meet with resident’s boards and committees.

Education requirements and training in property management:

Property management training can provide prospective managers of real estate and apartment managers with skills and experience which are cooperative for a long term career in property management. A property management career requires formal training at a 2 year or 4 year educational institution. These courses are available through many business and arts liberal programs. Property management training encompasses a variety of courses in business, administration and real estate. Common courses include:

  • Property analysis
  • Tenant relations
  • Managing commercial property
  • Leases
  • Forms and administration
  • Legal issues in property management
  • Marketing
  • Economics of property management
  • Apartment management operation and procedures
  • Systems and reports

A successful real estate investment career requires property management certificate. And in order to receive CPM or Certified Property Management status, many institutions provide different course process and materials. One institution Institute of Real Management Estate Management provides 8 courses which are:

  • Marketing and Leasing: retail properties
  • Human resource essentials for real estate managers
  • Property management and risk management
  • Investment real estate: financial tools
  • Investment real estate financing and valuation – part 1
  • Investment real estate financing and valuation – part 2
  • Investment real estate financing and valuation – part 3
  • Property management plans

In addition to this, the students must also attend and pass the examination for Ethics for real estate manager. Key points covered include:

  • Human resource management
  • Asset management
  • Legal and risk management
  • Marketing and leasing
  • Financial operations
  • Maintenance and operations

Property manager salary chart: