If you enjoy real estate and have the ability to create good relationships between yourself and other people, a career as a property manager may be something you would be great at. A property manager works for people or companies that own income-producing property.
What Are Some of the Duties of a Property Manager?
It is the responsibility of the property manager to get involved in the activities like leasing and the maintenance of the properties for the owners.
It is often required to serve as a bridge between the owners and the tenants, which is, of course, a delicate task. Hence, if the job as a property manager sounds good to you and matches your skills, continue reading this article.
If you feel that you are good at diplomacy and people skills then the career field of property management is ready to open the door of success to you.
The main job activities of a property manager
include handling the task of maintaining the
leasing details for the owners of a property.
However, maintaining the balance between the owners and the tenants must be the primary duty of a property manager. To put this simple, a property manager has to find new tenants to rent a property and handle all the arrangements to have a hassle-free agreement between the client and the customer.
In addition to the above, the responsibilities under maintenance issues include calling the appropriate plumber, electrician, carpenter or other maintenance professionals at the perfect timing to resolve the issues pointing to the concerned department.
In addition, the property manager should maintain the control of all the books on a property.
The maintenance of the bank deposits shall be with the property manager where he/she is responsible for the collection of lease deposits and returning them when an eligible renter leaves the property.
Further, the manager collects the monthly lease payments and maintains the financial records as per the contract with a property owner.
Here it is good to disclose that, property management can be a job with stress as (the manager can sometimes be on call 24 hours a day) and must constantly hold the balance with the tenant and the owner demands. It also includes extensive traveling depending on the count of properties to be managed along with the location.
How Much Income Does a Property Manager Make?
To look into the Income, it can be uncertain as it varies on the clients who can cancel their contracts within the time duration of 30 days. The earning potential for a property manager depends on the immensity of the job.
The pay for a part-time manager of a small apartment complex is likely to be minimal where it will be very high if one has to manage several high rent complexes.
Property managers in Texas earn an average of $72,667/year.
Now, coming to the qualifications for a property manager, experience as a real estate salesperson or broker will help a lot to pick-up the job as a property manager. Apart from this, hands full of experience in record keeping and bookkeeping will be an added advantage.
To conclude this, one must be a good mediator with effective people skills and enjoy taking care of things during the hard times also to become a successful property manager. If you are considering a career change and are interested in becoming a property manager or licensed real estate salesperson then an approved real estate school such as CELI is the best place to go. They can help you get started, get your education and help you get your license as well as help with your continuing education.
Another great resource is The National Association of Residential Property Managers NARPM helps to provide many resources for residential property management professionals who have the desire to learn more, grow, and build relationships to further their careers.