Everything you need to know about a career in Property Management
Once referred to as the job you have before you step up into a Real Estate sales role, Property Management is now seen as a fantastic career option in its own right.
What does a Property Manager do?
Property Managers are responsible for leasing and managing the residential, commercial, industrial and retail property on behalf of property owners. They also do the following:
- Listens well
- Provides excellent customer service
- Interviews prospective tenants, does reference checks and selects the best tenant for the owner
- collects rent
- arranges repairs
- markets the property
- negotiates leases and rent reviews
- advises owner on market rents
- represents the property owner at tribunal hearings
What skills and training do I need to become a Property Manager?
The professional Property Manager needs excellent communication and people skills, knowledge of all relevant legislation, including building maintenance and town planning, and an understanding of how economic conditions affect the property market.
You will receive on the job training in your role, however given the above requirements, in Queensland, you will need to complete a Real Estate Registration Certificate.
There are other Property Management Courses available that will keep you up-to-date after you’ve received your Registration Certificate. Click here to see them.
It takes a special type of person to be a professional Property Manager. Your role will be demanding, and you could be expected to work long hours when it’s needed. You will work Saturday’s and be on call to your tenants after hours.
Your job is to represent owners and their property investments, and you also want a great working relationship with your tenants. It’s often a juggling act, so an enthusiastic, honest approach to your work will ensure you manage the daily stresses.
What job options are there for a Property Manager?
Increasingly, agencies are valuing the importance of having someone who is well versed and educated – not just in Property Management tasks, but in the management of a profitable and well-run Property Management business. Someone who can demonstrate high-level leadership skills and good people management.
Large companies often employ property managers to look after the housing needs of their employees. Businesses that have multiple sites employ property managers to look after their retail outlets. You can even work in shopping centres, where you manage retail tenants and the property.
Your job checklist?
You’ve chosen property management as your career, so now it’s important to find a job where you can demonstrate your abilities and really succeed.
Do your homework online, check out your prospective employer’s business on social media and see what people have to say about them.
When researching or interviewing for potential roles, make sure you ask the following questions:
- how large their rental portfolio is, how many people work in the PM division?
- why are they recruiting?
- ask the average amount of time a PM stays in the role
- Is there a dedicated mentor to help you on the job?
- What systems do they use?
- What is the ongoing training plan for you, what Property Management Courses will they offer you?
- What type of office culture do they have? You want a place that is supportive and inclusive and genuinely wants you to succeed
If you are prepared to put in the hard work, you will enjoy a rewarding career in Property Management. It will provide you with excellent long term job opportunities and if you are good, no – great at your job, the jobs (and rewards) will find you!
If you’d like information on a real estate course to get you started on a successful career in the Real Estate industry. Click here.