Property/Real Estate Manager

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Work Tasks

PROPERTY/REAL ESTATE MANAGERS oversee the performance of income-producing commercial or residential properties. They ensure that mortgages, taxes, insurance premiums, payroll, and maintenance bills are paid on time. They prepare financial statements and report to owners on the status of the property, occupancy rates, and dates of lease expirations. Property managers negotiate contracts for janitorial, security, grounds keeping, trash removal, and other services. They make arrangements for any repairs that cannot be handled by the regular property maintenance staff. Property managers must comply with the Americans With Disabilities Act and the Federal Fair Housing Amendment Act.

Salary, Size & Growth

• $61,000 average per year ($29.25 per hour)
• A medium occupation (147,100 workers in 2010)
• Expected to grow moderately (0.8% per year)

Entry Requirements

Most employers prefer to hire college graduates for PROPERTY/REAL ESTATE MANAGER positions. A bachelor's or master's degree in business administration, finance, real estate, public administration, or related field is preferred, but persons with degrees in liberal arts are often accepted. Managers of public housing subsidized by the federal government must be certified. The Institute of Real Estate Management awards the designations Accredited Residential Manager and Certified Property Manager, and the National Association of Home Builders awards the title Registered Apartment Manager.