How to Be a Property Manager

Have you ever wondered what it would be like to be a property manager? Property managers are responsible for managing the rental of all kinds of different properties. They could manage rentals of apartments, homes, offices, etc. They are often responsible for marketing properties, screening tenants, managing rental agreements, maintaining the property, and dealing with any issues or problems that the tenants may have. Of course, property managers are also responsible for making sure that all the rents are paid on time. If this sounds good to you, read on to learn how to be a property manager.

Difficulty:

Moderately Easy

Instructions

1. It's important to know that many states require that property managers be licensed real estate brokers, or agents that work under a broker. If you want to manage property on your own, you'll either need to be a broker or be an agent working under a broker. You may also need to become a certified property manager. The first and most important step is to find out exactly what is required in your state.

2. Consider getting certifications that are respected in the field of property management. The two main certifications are: Certified Property Manager (CPM) and Accredited Residential Property Manager (ARM). The CPM is the most highly respected, but you will need training and experience to get this certification. The ARM is easier to get and would be a good place to start.

3. Join the Institute of Real Estate Management or local property management organizations. Being a member of these organizations will help you to increase your credibility and will also give you valuable networking opportunities to further your career as a property manager.

4. If you can't start your own property management company, but you are still interested in working in property management, the best place to start is with local real estate agencies and property management companies. Many real estate offices have rental divisions. You may have to start as an assistant, but training, and on-the-job experience will help you to soon move into a higher position.

5. Apply for a job with a local property management company. These companies focus solely on property management and may manage a variety of properties including apartment complexes, homes, office complexes, etc. Having at least a Bachelor's Degree in business will help prepare you for a job in this field. However, the opportunity to start as an assistant or at a lower position will help you to advance at a property management company as well.

6. Find a job working with a local apartment complex that does their own property management. They may have on-site property managers and sometimes will allow you to be a property manager even if you don't have a lot of experience. If you have experience in other types of business, that would help you to better prepare yourself to apply for a job as a property manager at these types of places. Experience in marketing, collections, contracts, and customer service would all be beneficial for working in property management.

7. Just like with any other career, the most successful property managers are constantly educating themselves. If you want to be successful, you should work on getting more education whenever you can, whether through attending courses, getting a degree, studying for a certification, or reading books on the subject. Check the resource section for more information.

Resources

• Property Management Books