Property Management

Read about careers in property management, including what types of positions are available and how much education you'll need to enter the field. Find additional information about job growth and salary, and make an informed decision about your education and future career.

Is Property Management for Me?

Career Overview

Property managers are employed by homeowner associations, individual property owners and investors, and their duties typically include attending to maintenance issues, conducting leasing negotiations and performing administrative tasks. You might also manage employees or oversee advertising and promotions initiatives. As a property manager, you may be responsible for an apartment or office complex. You might also oversee the day-to-day operations of a multi-family unit, group of condominiums or shopping center.

Career Options

If you're interested in property management, you may find employment as an apartment rental agent or facilities coordinator. Depending on your education and experience, you might also find a job as a housing manager or condominium association manager. If you enjoy procurements and sales, you could try your hand at becoming a real estate broker. You could also oversee housing for the elderly and work as an assisted living administrator.

Employment and Salary Information

According to the U.S. Bureau of Labor Statistics (BLS), employment of property, real estate and community association managers was expected to increase 12% nationwide between 2012 and 2022. In May 2013, professionals employed in the field earned an average annual salary of $64,270, reported the BLS. Employers usually desire candidates with formal education and training; some on-the-job training may also be provided. Although not always required, individual states might require professional property managers to be licensed (www.bls.gov).

How Can I Work in Property Management?

Educational Options

Courses and programs in facilities management, property management and other related areas can be found through community colleges, technical colleges and universities, with evening classes and part-time schedules available at individual schools. In addition to on-campus programs, some schools offer online courses in facilities management, as well as degree programs in property management and facilities management. Some programs can lead to a certificate or an associate degree; however, many employers are looking to hire property managers with a bachelor's or master's degree, such as a Master of Business Administration (MBA) in Real Estate Property Management. Degree programs in real estate or finance may also help you qualify.

Curriculum

Property management programs may include topics in property leases and preservation, budgeting, safety and real estate law. You might also study residential and commercial property, accounting, business and economics, or pursue related courses in advertising and marketing. Practical training in the use of computers and industry software will also be provided; some programs allow for an internship and the chance to acquire some hands-on experience in the field.

Learning outcomes include the ability to accurately determine the value of properties, assess contractual obligations and identify areas in need of repairs. You might also learn how to perform basic maintenance and assist in property development.

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