The median annual wage for American property managers was $58,340 in 2018, and this tells you that the real estate industry is growing rapidly, making the choice of becoming a property manager a move that could see you thrive economically. While you can start working as an inexperienced property manager, several qualifications can make your progress remarkable. Read on to know the qualifications that you need to become a property manager.
What do they do?
Property managers take care of assets such as buildings and industrial spaces. Your work as a property manager mostly involves maintenance of buildings, arranging for repairs, payment of bills, collect association fees and rent, interview potential renters, budget, and addressing complaints from tenants. With the complexity related to property management roles, having the minimum qualifications is a prerequisite. Click here to find out more about what qualifications do you need.
Education Requirements and Experience
In most states, having a high school or GED diploma is one of the minimum education prerequisites to becoming a property manager. Besides, you are in a better position to compete with other professionals in the field if you have vocational real estate training. A degree in real estate, finance, or business administration is also desirable.
Different employers have varying requirements on experience. With 2 to 5 years of experience in real estate, you are likely to have an edge over other inexperienced candidates. However, you will need to be knowledgeable in rental collections, laws relating to proprietors and tenants, leases, and bookkeeping. If you don’t meet the needed experience, you can apply for entry-level positions in a real estate company and gain experience gradually.
Certification
You don’t need certifications to work as a property manager. However, specialized certifications are a plus in your career. Certifications such as Certified Apartment Manager, Certified Property Manager or Certified Manager of Community Associations will open a myriad of opportunities.
To get these under your belt, you will need to not only satisfy several education requirements but also sit for special exams. Click here to check out how you can apply for an online course to get a certification for property management. Get these accreditations and stay atop of other job applicants in the industry.
Job Skills
You should have a host of key traits to perform exceptionally as a property manager. For instance, communication skills are indispensable in this field since your typical day involves communicating with the tenants, answering queries, and solving disputes. In this case, effective communication and listening actively are necessary.
Organizational skills will also set you apart as a property manager. Only highly organized individuals can pull off working with different stakeholders such as the local government, tenants, and property owners. What’s more, effective negotiation skills will have you winning bids. Ensure that you are knowledgeable about the diverse aspects of property management so that you can back up your skills with the right information.
If you don’t have the qualifications necessary for a property manager, rest easy. Getting the certifications and joining relevant professional associations can improve your position. Simply enroll for a licensing course, volunteer in a real estate firm, join associations, and pitch to get new clients. With time, you will have the right set of skills, experience, and certifications that will make you a seasoned property manager.