What Exactly Does a Property Manager Do?
A property manager will generally manage a portfolio of properties usually within a specified area not far from one another. A community manager is responsible for pretty much everything that goes on related to the rental of the property. He or she will not just find and qualify new tenants for properties that have just been added to their portfolio, but they'll also undertake a number of different tasks such as:
- Monitor statistics and analytics for the properties that are under management.
- Overseeing the maintenance of the properties.
- Helping tenants move out.
- Collecting any unpaid rent or other expenses when necessary.
As you can see, the role of a property manager really is quite a rewarding one and if this is something that you think you might enjoy doing then you should certainly give it a shot. Even though being a property manager can be stressful and demanding at times, there definitely is a wide range of benefits that you'll be able to take advantage of.
First and foremost, property managers are paid very well. On average you can expect to earn anywhere from $ 45,000 to $ 60,000 per year; obviously this will vary quite a fair amount depending on your experience and the amount of properties that are currently in your portfolio.
You'll also get the joy of dealing with people on a day-to-day basis, you'll need to communicate effectively and efficiently with other members in your company, and you might even need to display leadership qualities at times. You'll be required to find and qualify new tenants, so if you're a social person and enjoy meeting new people this is going to be an ideal role for you.
Property managers are required to be licensed by the state, but this varies from state to state so you might find that this isn't the case for you. However, if you're looking to be employed as a property manager then many employers will be looking for a college degree in Business Management or a similar field.
You'll also need certain skills relative to the tasks that you're going to be performing throughout the day. Some examples would be a good ability to deal with people, negotiating skills, working well within a team, time management skills, ability to motivate, and similar traits.