Property manager
A property manager is a person employed by an individual or a company to oversee the day-to-day operations of a unit or real estate. They are hired to manage the properties of owners who are unable or unwilling to manage their property by themselves. Some of the properties run by property manager include apartment complexes, retail malls and business offices. Property managers offer ideal solutions to investors who are not within reach of their properties.
Job titles
- Real estate manager
- Community association manager
- Lodging manager
Roles and responsibilities of property managers
- Property managers are responsible for managing rents. This is the most important roles done by the property managers on behalf of their employees. They set the right rent level to attract tenants to the property by analyzing the market and comparable properties in the area. Besides, they set up a system for collecting rents to ensure optimal cash flow in the property. They set dates and enforce actions for late payments of rents. Also, property managers are responsible for adjusting rents depending on the demand of the property.
- Property managers are responsible for managing the tenants. They are involved in finding and screening tenants, managing their daily complaints and also plays a critical role in tenants evictions and move-outs. They advertise the vacancies and offer tips to help makeover the property.
- They handle complains and emergencies of the tenants. They listen to complaints and offer solutions to tenants such as noise pollutions to give a conducive environment to the tenants. Besides, they handle emergencies by provisions of requirements.
- Property managers inspect the ground and equipment of the properties for any damage, disturbance or any other violations.
- They are responsible for maintenance and repair roles. They perform preventive property maintenance to keep continuous functioning of the property. When there is damage, they are responsible for fixing the problem or hire someone to do them.
- Property managers ensure that the property aligns with national laws and regulations regarding the proper ways of handling the property such as evictions and compliance with property safety standards.
- Property managers are responsible for making the budget and maintaining records of the property. They keep all payments and receipts for referencing in case of any problem.
- They help and assist the property owner in filing taxes for the property.
- Property managers arrange for various services such as trash removal, swimming pool maintenance, landscaping, and security measures of the property.
The workplace of a property manager
The working place of property managers varies depending on the type of property they manage. Some of the working places include;
- Office
- Visiting building engineer
- Showing apartments
- Checking on the janitorial and maintenance of staff
Important Skills for a property manager
Customer-service skills
- A property manager should be able to provide and maintain a good customer relationship to enable them to keep the existing clients and attract new clients
Interpersonal skills
- A property manager should have good communication skills which cover verbal and non-verbal communication and should be a good listener.
Organizational skills
- Property managers should be able to plan, coordinate and direct multiple contractors.
- Property managers should be organized to manage records promptly.
- They should be able to prioritize tasks on the nature of importance and urgency.
Problem-solving skills
- They should be able to mediate and solve disputes between residents, homeowners or board members.
- Property owners often need to develop creative solutions to problems.
- They should react calmly when a problem arises.
Speaking skills
- They should clearly explain the materials needed when leasing or renting property.
- They should be able to respond to questions raised by residents or staff.
Estimated Salary of property managers
Salaries of property managers vary according to their employees and geographical areas of jurisdiction.
- The lowest amount of salary is approximately $29,000
- The medium salary is estimated to be $47,000
- The highest amount of salary is $79,000