fbpx

Property Management Jobs

The world of property management is vast, and so are the job opportunities for those interested in pursuing a career in the field. Property management job opportunities range the full spectrum of real estate including sales and leasing, administrative, managerial, maintenance and construction. Property management as an industry is overall very stable, as there is always a perpetual need for people to manage rental properties regardless of economic conditions. The need for professional management of rental properties also has a bright future. Reasonable interest rates have also fueled an increase in rental property ownership, with many investors choosing to outsource management to professionals. These catalysts have set the industry to almost double in size up to $37.25 billion by 2029.



Property Management Job Types

Jobs in the property management industry range from the entry level Assistant Property Manager role, up to the seasoned Vice President of Asset Management position. Depending on the company size, the exact-naming of a title might vary, as well as the scope of responsibilities under that respective title. Below we take a look at the various types of career paths and job titles that are available in the property management industry.

Assistant Property Manager

Job Description

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 normally report directly to the Property Manager, whom they simultaneously work closely with.

Qualifications

For an Assistant Property Manager position, employers will usually be looking for the following requirements and skill sets to qualify for the role:

  • 0-1+ Year of real estate related experience.
  • Strong organizational and time management skills.

Salary

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 an upper range of $78,000. 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.


Property Manager

Job Description

As the name implies, a property manager is the dedicated individual who is the “go-to” person for a property. This means that they are generally responsible for overseeing or administering all of the activities of a property. Property managers wear many hats, as they oversee all aspects of a property.

Qualifications

For an Property Manager position, employers will usually be looking for the following requirements and skill sets to qualify for the role:

  • 2-4 Years of previous property management experience in the same or similar asset-class.
  • Valid Real Estate License in your respective state.
  • Excellent interpersonal and conflict resolution skills.

Salary

The median salary for a property manager in the United States is approximately $104,000. This includes a lower range of $70,000 and an upper range of $134,000. Bonuses are normally part of a Property Manager’s compensation and are usually based on performance factors such as leasing and expense control.


Leasing Agent

Job Description

While the tasks of this position are sometimes handled by a property manager, leasing agents are typically in charge of all leasing activities. Leasing agents take inquiries from prospective tenants and facilitate showings, screening, and lease agreement signings.

Qualifications

For an Leasing Agent position, employers will usually be looking for the following requirements and skill sets to qualify for the role:

  • 1+ Year of leasing or other sales-related experience.
  • Strong organizational, time management, and customer service skills.

Salary

The median salary for a Leasing Agent in the United States is approximately $32,000. This includes a lower range of $29,000 and an upper range of $36,000. Bonuses are normally part of a Leasing Agent’s overall compensation and are usually based on performance factors such as leasing activity and existing tenant retention.


Senior/Regional/Director of Asset Management

Job Description

While it depends on the specific property type, regional managers are delegating, leading and resolving issues for multiple managers and maintenance teams. At this level, the amount of tenant interaction is drastically reduced and they primarily deal with Property Managers and Vice Presidents.

Qualifications

For an Director of Asset Management or equivalent position, employers will usually be looking for the following requirements and skill sets to qualify for the role:

  • 4-5 Years of Relevant Leadership Experience.
  • Ability to lead a team providing leadership and mentorship for team development.

Salary

The median salary for a Director of Asset Management role in the United States is approximately $121,000. This includes a lower range of $84,000 and an upper range of $181,000. Bonuses are normally part of a Director’s compensation and are usually based on performance factors such as the performance of the Assets (i.e. Properties) and Property Managers in which that Director is in charge of overseeing.


Vice President of Asset Management

Job Description

As the second-in-charge, Vice Presidents report directly to the President and/or CEO of the company. Vice Presidents usually oversee high-level strategic property decisions such as acquisitions and divestments. They also work with the Controllers and CFO on financial aspects of a  property.

Qualifications

For an Vice President position, employers will usually be looking for the following requirements and skill sets to qualify for the role:

  • 6-10 Years of Relevant Leadership Experience.
  • Possess strong asset management experience including managing capex budgets, and overseeing acquisitions, dispositions and refinancings.

Salary

The median salary for a Vice President of Asset Management in the United States is approximately $260,000. This includes a lower range of $197,000 and an upper range of $380,000. Bonuses are normally part of a Vice President’s compensation and are usually based on performance factors of the overall company and/or the subordinates that the Vice President is in charge of overseeing.