What does a Property Manager do?
Property managers are responsible for the overall financial and operational management of residential, commercial, and industrial properties. Property managers aim to minimize costs while keeping tenants satisfied. They are tasked with addressing tenant concerns, collecting rent, dealing with maintenance, and managing the budget.
Property managers need to have a Bachelor's degree. Some states require property managers to have some type of professional designation or certification. While not all states do, most employers prefer property managers have a Certified Property Manager (CPM), Real Property Administrator (RPA), or Registered in Apartment Management (RAM) designation. Most of these designations have education, experience, and exam requirements. The best property managers are customer service oriented, have great interpersonal skills, and are extremely organized.
- Oversee, maintain, and inspect all designated buildings and properties
- Coordinate ongoing maintenance and inspections to comply with all relevant laws, codes, and company policies
- Select tenants through interviews and background checks
- Collect rent, pay invoices, and analyze operating statements
- Prepare the annual budget and report on financial performance regularly
- Manage on-site staff, and vendor and contractor relationships
- Address tenant complaints, violations, and problems
- Prepare and maintain all records, correspondence, and files
- Establish and maintain relationships with tenants
- Bachelor's degree highly preferred; equivalent work experience in property management will be considered
- CPM, RPA, or RAM designation preferred
- 5 years of experience in property management
- Highly proficient in Microsoft Office
- Strong interpersonal skills
- Proven ability to comply with operational policies and procedures, codes, and regulations
- Must be able to read, write, and speak fluent English
- Exceptional organizational, problem-solving, and interpersonal skills
- Strong familiarity and working knowledge of affordable housing laws and anti-discrimination legislation
Property Manager Salaries
Average Base Pay
Property Manager Career Path
Learn how to become a Property Manager, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Average Years of Experience
Property Manager Insights
“The manager Breanna is the best she friendly and I can't wait to starts..”
“Pay can be good but not worth it at the end of the day or night!”
“I had one of the best regionals that was super helpful and really made me confident in my role”
“5. The pay scale is not great whatsoever and their benefits don't make up for that.”
“I worked with a good group of people and my boss was a great person to work for.”
“Benefits are very good and the people are some of the best I’ve worked with.”
“Aspen Square provides the best training and the most ideal structure to succeed in the multifamily industry.”
“Property management is a career field that will literally drain you and question your sanity.”
Property Manager Interviews
Frequently asked questions about the role and responsibilities of property managers
Property managers oversee real estate like rental properties on behalf of property owners. They handle things like maintenance, rent collection, tenant issues and complaints, and filling empty housing. A career as a property manager may involve overseeing commercial and residential properties.
An advantage of working as a property manager is the opportunity to split time between the office and various properties. Moving from one location to the next also means there is little monotony throughout the workday. Individuals with great communication skills may enjoy the contact to tenants, including responding to phone calls and emails.
Yes, property managers get paid well. The average salary for a property manager in the U.S. is $65,000 per year. Pay varies based on location, types and amount of properties managed, and level of experience, with salaries ranging from $48,045 to $100,000 per year.
There are some difficult aspects to the job. When considering becoming a property manager, remember that these professionals have to deal with stressful situations, like difficult tenants, pressure to fill vacant properties, collecting delinquent rent, and property damage. They may have to deal with issues on weekends and holidays as well.