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:
Collecting rent
Handling maintenance and repairs
Responding to tenant concerns
Marketing vacant properties
Screening potential tenants
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:
Landlords own the property, while property managers work on behalf of owners
Property managers often handle multiple properties for different owners
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:
Being at least 18 years old
Having a high school diploma or equivalent
Passing a background check
Completing required education courses
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:
Taking pre-licensing courses
Passing a state exam
Completing continuing education courses
Apply for a Property Management Position
Look for job openings with:
Property management companies
Real estate firms
Large apartment complexes
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:
Accounting software
Tenant screening platforms
Maintenance request systems
Lease management tools
