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PROPERTY MANAGER.

PROPERTY MANAGERS TAKE CARE OF RESIDENTIAL, COMMERCIAL AND INDUSTRIAL PROPERTIES.

In addition to overseeing the daily operation and maintenance of these properties, their duties may include meeting with prospective renters, collecting monthly fees, keeping financial records, and paying bills, insurance, taxes or other fees. In order to ensure their properties are well-maintained and running properly, they may be required to inspect all buildings, grounds and equipment and arrange for any necessary repairs or updates. As the on-site representative, acting on behalf of the building- or homeowner, these management professionals must guarantee that proper procedures and laws are followed, and are sometimes called upon to handle problems, complaints and disturbances.

The Workplace

Property managers are employed at commercial, industrial, resort and residential properties such as apartment buildings, office complexes and shopping centers. They may also be employed by community associations, and the U.S. Bureau of Labor Statistics (BLS) reports that about two in five are self-employed.

Education

According to the BLS, although a college degree is not required, many employers prefer that their property managers have a degree in business administration, finance or real estate. If they are buying and selling property, they need a real estate license, and some states require all property and community association managers to have a real estate license. BLS also notes that managers of public housing subsidized by the federal government must hold certifications.

Earnings

The U.S. Department of Labor's Occupational Outlook Handbook reports that in May 2016, the median annual income for property managers was $57,040, with the highest 10 percent earning more than $126,390.

Job Outlook

The Occupational Outlook Handbook projects that employment for property managers will grow approximately eight percent from 2014 to 2024. This growth is attributed to an increase in the number of people living in properties such as apartment buildings, condominiums and senior housing, as well as an increased awareness by property owners that good management makes their properties more profitable.

By Susan Reese

EXPLORE MORE

For more information about the career of property manager and the education and training it requires, here are some places to turn.

BOMI International

www.bomi.org

Community Associations Institute

https://www.caionline.org

Community Association Managers International Certification Board

https://www.camicb.org

Institute of Real Estate Management

www.irem.org

National Association of Residential Property Managers

https://www.narpm.org

National Strength and Conditioning Association

https://www.nsca.com

National Property Management Association

www.npma.org

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Title Annotation:CAREER CURVE
Author:Reese, Susan
Publication:Techniques
Article Type:Occupation overview
Geographic Code:1USA
Date:Nov 1, 2017
Words:409
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