Property, Real Estate, and Community Association Managers
Property, real estate, and community association managers plan, direct, or coordinate the selling, buying, leasing, or governance activities of commercial, industrial, or residential real estate properties. This includes managers of homeowner and condominium associations, rented or leased housing units, buildings, or land (including rights-of-way).
Property real estate and community association managers' job is to prepare financial documents, reports, budgets and operational budgets. Besides, they direct facility, maintenance, repair activities, organizational operations, projects, and services and manage construction activities. While property managers monitor individual or group rental units such as an apartment complex, community association managers are mainly responsible for common areas.
If you’re looking to break into a career that offers a respectable salary, stable employment, job security- and a strong yearning to work with people, then you must be curious to understand how to become a property manager.
Beyond a high school diploma, property management firms may require different levels of education and certifications from their property managers. An aspirant can complete undergraduate courses relevant to this industry like risk management, property management, finance, business administration and real estate. Their salary varies majorly based on education, certifications, experience, location and the volumes managed by an individual.
Fair and just community association managers are financially clean, always supportive and available with the ability to mediate and advocate. They are also skilled at getting the community involved in planning and have high expertise in their area.
To be successful in a real estate management career, one should hold organizational and communication skills, invoicing and financial reporting skills and experience with office software.
Qualifications
Every career requires an element of study and academic qualification, and there can be several study routes and pathways you can take. In following any academic pathway you will study subjects that contribute to the specialised knowledge required to achieve your career goals. These qualifications provide a future employer with the evidence that you have the desired knowledge, understanding and experience of their industry, so it’s important to consider the various types of qualifications available to you and to understand how they can boost your career and create opportunities for you.
- MBA Real Estate Management
- PG Diploma Business Administration
- BBA Real Estate and Urban Infrastructure
- Bachelor's Any Subject
Tasks
- Meet with prospective tenants to show properties, explain terms of occupancy, and provide information about local areas.
- Direct collection of monthly assessments, rental fees, and deposits and payment of insurance premiums, mortgage, taxes, and incurred operating expenses.
- Inspect grounds, facilities, and equipment routinely to determine necessity of repairs or maintenance.
- Investigate complaints, disturbances, and violations and resolve problems, following management rules and regulations.
- Plan, schedule, and coordinate general maintenance, major repairs, and remodeling or construction projects for commercial or residential properties.
- Manage and oversee operations, maintenance, administration, and improvement of commercial, industrial, or residential properties.
- Negotiate the sale, lease, or development of property and complete or review appropriate documents and forms.
- Maintain records of sales, rental or usage activity, special permits issued, maintenance and operating costs, or property availability.
- Determine and certify the eligibility of prospective tenants, following government regulations.
- Prepare detailed budgets and financial reports for properties.
Progression Routes
READY FOR MORE?
Subscribe to our Premium package and you'll unlock a wealth of extra information about your favourite careers and gain access our library of immersive 360° VR careers experience.
As a Premium user you'll find out more about the day-to-day demands of any career, what you could earn and, importantly, receive expert advice on study routes, preparation expenses, and where & what to study to fulfil your potential.