Property, Real Estate, and Community Association Managers: Salary, career path, job outlook, education and more

Education Required
A high school diploma or equivalent is typically required for most onsite property management positions. However, many employers prefer to hire college graduates for commercial management positions and offsite positions dealing with a propertys finances or contract management. A bachelors or masters degree in business administration, accounting, finance, real estate, or public administration is preferred for these types of positions.
Job Outlook
The projected percent change in employment from 2016 to 2026: 11% (Faster than average)
(The average growth rate for all occupations is 7 percent.)
Advancement
Many people begin property management careers as assistant managers, working closely with a property manager. In time, many assistants advance to property manager positions.
Licenses/Certifications
Real estate managers who buy or sell property must have a real estate license in the state in which they practice. In a few states, property and community association managers also must have a real estate license. Managers of public housing subsidized by the federal government must hold certifications.
Median pay: How much do Property, Real Estate, and Community Association Managers make?
$57,040 Annual Salary
$27.42 per hour

Property, real estate, and community association managers take care of the many aspects of residential, commercial, or industrial properties. They make sure the property is well maintained, has a nice appearance, operates smoothly, and preserves its resale value.

Duties

Property, real estate, and community association managers typically do the following:

  • Meet with prospective renters and show them properties
  • Discuss the lease and explain the terms of occupancy or ownership
  • Collect monthly fees from tenants or individual owners
  • Inspect all building facilities, including the grounds and equipment
  • Arrange for new equipment or repairs as needed
  • Pay bills or delegate bill payment for such expenditures as taxes, insurance, payroll, and maintenance
  • Contract for trash removal, maintenance, landscaping, security, and other services
  • Investigate and settle complaints, disturbances, and violations
  • Keep records of rental activity and owner requests
  • Prepare budgets and financial reports
  • Comply with anti-discrimination laws when renting or advertising, such as the Americans with Disabilities Act, the Federal Fair Housing Amendment Act, and local fair housing laws

When owners of homes, apartments, office buildings, or retail or industrial properties lack the time or expertise needed for the day-to-day management of their real estate properties, they often hire a property or real estate manager or a community association manager. Managers are employed either directly by the owner or indirectly through a contract with a property management firm.

The following are examples of types of property, real estate, and community association managers:

Careers for Property, Real Estate, and Community Association Managers

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