Last Updated: November 2023
An assistant property manager is a valuable job role in itself, or potentially a great way to work up to being a property manager. As the right-hand helper to a property manager, assistant property managers hold similarly influential jobs as the property manager by helping to support all daily management operations. They help support and organize much of the operational tasks of a property manager. They will often report directly to a property manager or director of asset management, depending on how the organization is set up.
Assistant Property Manager Job Description
Assistant property managers (also called APM) are responsible for helping the property manager oversee tenants and ensure that all tenant needs are taken care of in a timely manner. Responsibilities will vary depending on the type of property, whether it is managing a residential property or managing a commercial rental property. In general, much of the job is working closely with the Property Manager and other members of the property management team to ensure that the property is operating smoothly, while providing excellent customer service to tenants. This can include a combination of assisting with leasing, tenant relations, rental real estate financial management, maintenance and repair coordination, and ensuring compliance with all relevant laws and regulations, managing tenant records, and responding to property related inquiries.
Assistant Property Manager Job Responsibilities
The job responsibilities of an assistant property manager position entail providing key support to the property manager in managing and maintaining properties. Together with the property manager and other members of the property management team, the objective of job responsibilities is to ensure that the tenants have a safe, comfortable, and well-maintained living environment, while also ensuring that the property is operating in a financially sustainable manner. Responsibilities will vary depending on the type of rental property you are managing, but most assistant property manager positions are fast paced and dynamic, which translates into constantly exciting days with constantly changing duties. In general, assistant property managers are involved in mostly all aspects of management including leasing, tenant relations, financial management, maintenance and repair, and compliance with local, state, and federal laws and regulations. To give you a better idea of the responsibilities for this type of rental real estate career path, below are some of the core responsibilities associated with being an assistant manager.
List of Assistant Property Manager Duties and Responsibilities
- Assisting with leasing, including showing units to prospective tenants, processing rental applications, and responding to prospective tenant inquiries
- Responding and address tenant questions or concerns efficiently and amicably, while also protecting the interests of both parties involved (i.e tenant and landlord)
- Providing excellent customer service to tenants and other stakeholders, ensuring that their needs are met and their concerns are addressed in a timely and professional manner
- Work directly with the property manager and other members of the asset management team to develop and implement policies and procedures for effective property management
- Conducting move-in and move-out inspections, preparing lease agreements, and ensuring that all paperwork is completed accurately and on time
- Managing business operations by facilitating the day-to-day management of the properties by coordinating necessary repairs or maintenance services when needed
- Assisting with rent collection, preparing financial reports, and tracking expenses by tracking all rent payments due from each tenant on a monthly basis
- Follow up for late rent payments by sending out notices if any tenant is late on their payment or fails to pay at all
- Representing or assisting with representing the property owners in any eviction proceedings as needed within applicable rental real estate laws and regulations
- Assisting with the preparation of annual budgets and monitoring performance against budgets made prior
- Maintaining financial records by creating invoices for rent payments received from tenants each month and providing ownership with reports detailing income received from these payments regularly
- Monitor and manage expenses connected to each rental unit according to approved budgets, along with tracking any other fees or deposits associated with each unit accurately
- Coordinating maintenance and repair requests, ensuring that work orders are completed on time and within budget
- Assisting with vendor and service provider selection, negotiating contracts, and ensuring that work is completed to a high standard
- Assisting in ensuring that properties are in compliance with local, state, and federal laws and regulations
- Preparing and conducting regular property inspections to ensure that the property is well-maintained and in good condition
- Assisting with marketing and advertising efforts to attract new tenants and maintain high occupancy rates
- Help maintain accurate and up-to-date records, including tenant files, vendor contracts, and financial reports.
- Conduct regular property inspections to ensure that the property is well-maintained and in good condition
- Facilitate getting bids and assist with overseeing any construction projects for properties under management
Assistant Property Manager Compensation
The median salary for an assistant property manager in the United States is approximately $60,000. This includes a lower range of $44,000 and upper range of $78,000. Most employers may offer benefits such as health insurance, retirement plans, and paid time off for this position. Bonuses can be a part of an assistant property manager’s compensation, in which they would be based on performance factors such as leasing or expense control. In addition to salary, a common intangible compensation of being an assistant property manager is gaining relevant job experience to become a property manager. As is common in the property management industry, many assistant property managers work their way up into the role of becoming a property manager after sufficient experience has been gained.
Assistant Property Manager Qualifications
The assistant property manager job position requires someone with excellent organizational skills and attention to detail in order to ensure optimal management of real estate assets. Ideal candidates for assistant property manager jobs have excellent organizational, communication, and time management skills, as well as a keen eye for detail. Previous experience in property management, real estate, or a related field, is always a plus, as property management can be fast-paced with many dynamic challenges throughout the day. For an assistant property manager position, employers will usually be looking for the following requirements and skill sets to qualify for the role.
List of Assistant Property Manager Qualifications
- Bachelor’s degree in business administration, real estate, or a related field
- 1+ years of experience in property management or a real estate related experience
- Excellent communication and interpersonal skills to communicate effectively and professionally with tenants, vendors and colleagues
- Strong organizational and time management skills; ability to prioritize tasks, plan ahead and problem-solve issues as they arise
- Ability to work independently and among other members of the asset management team such as property managers, leasing agents and resident managers (where applicable) to ensure compliance with company policies and procedures
- Understanding of common marketing and advertising strategies for successfully marketing rental properties
- Knowledge of general building maintenance and property repair fundamentals
- Availability to be on-call for emergencies outside of regular business hours
- Familiarity with financial management and budgeting
- Proficient in using technology and computer applications such as email, word processing, spreadsheets, property management softwares and other real estate software solutions
- Ability to multitask and manage multiple projects simultaneously
- Familiarity with leasing and tenant screening practices
- Experience in screening prospective tenants for credit, criminal background, and rental history via tenant screening softwares
- Knowledge of risk management and property liability
- Familiarity with commercial leasing and contract negotiation for commercial properties
- Experience with coordinating capital improvement projects and overseeing construction work
- Familiarity of fair housing laws and equal opportunity housing policies (if residential properties) and other landlord-tenant laws as applicable to the type of rental property
- Familiarity with property tax assessments, appeals, and other annual government assessments imposed on properties by municipalities
- Professional certifications such as Certified Property Manager (CPM) or Accredited Residential Manager (ARM) are preferred but not always required
- Experience with financial analysis and reporting, including creating financial statements and analyzing trends
- Knowledge of standard building materials and common building products used in rental properties
- Experience in the real estate sector, with knowledge and understanding of standard leasing agreements, tenant relations and rental market trends
- Proficiency in a second language may be preferred or required depending on the demographics of the tenants being served
Where to Find Assistant Property Management Jobs?
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