Property management can be a rewarding career in the real estate industry. It offers a stable income and the opportunity to work with various people and properties. This guide will explain what a property manager does, how it differs from being a landlord, and the steps to becoming a property manager.
What Is a Property Manager?
A property manager is a professional who oversees the day-to-day operations of real estate properties on behalf of the owner. Their responsibilities typically include:
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Collecting rent
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Handling maintenance and repairs
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Responding to tenant concerns
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Marketing vacant properties
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Screening potential tenants
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Ensuring compliance with local laws and regulations
Difference Between a Landlord and a Property Manager
While landlords and property managers both deal with rental properties, there are key differences:
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Landlords own the property, while property managers work on behalf of owners
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Property managers often handle multiple properties for different owners
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Landlords may manage their own properties, but property managers are professionals hired for their expertise
How To Become a Property Manager
Educate Yourself on Property Management Certification
Research the certification requirements in your area. Many states require property managers to have a real estate license or a specific property management certification. Look into courses offered by local real estate associations or online programs.
Learn the Key Requirements To Becoming a Property Manager
Common requirements include:
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Being at least 18 years old
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Having a high school diploma or equivalent
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Passing a background check
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Completing required education courses
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Passing a licensing exam (if applicable in your state)
Complete All Requirements
Fulfill the necessary educational requirements and obtain any required licenses or certifications. This may involve:
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Taking pre-licensing courses
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Passing a state exam
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Completing continuing education courses
Apply for a Property Management Position
Look for job openings with:
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Property management companies
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Real estate firms
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Large apartment complexes
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Homeowners' associations (HOAs)
Prepare a resume highlighting relevant skills such as organization, communication, and problem-solving. Gain experience through internships or entry-level positions if possible.
Find the Right Tools
Familiarize yourself with property management software and tools that can help you streamline your work. These may include:
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Accounting software
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Tenant screening platforms
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Maintenance request systems
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Lease management tools
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