Ultimate Guide to Property Manager Jobs

Last Updated: May 2024

Property Manager Job

Property managers play the most integral role in the entire sector of rental property management. As the name implies, a property manager is the dedicated individual who is the “go-to” person for a property or portfolio of properties. This means that they are generally responsible for overseeing or administering all of the management activities of a given property, as well as the various personnel who may also work at a property.

Property Manager Job Description

Property managers (also called PM’s) are responsible for generally the overall operations of a property. This includes day-to-day operations management and property grounds upkeep, as well as handling financial matters such as rent collection, budgeting, and monitoring maintenance costs. In addition to these duties, a property manager also holds the responsibility to take care of tenant inquiries, ensure legal compliance, assess property financial performance, and much more. As you may have guessed, this type of property management job is ideal for someone who loves problem solving and juggling multiple tasks at once, as property managers must stay organized to balance their many responsibilities efficiently and effectively.

Property Manager Job Responsibilities

The job responsibilities of a property manager entail overseeing all aspects of a rental property, including residential rental properties, commercial properties, or a combination of both. They often report to either a director of asset management or the property’s direct ownership. Daily oversight responsibilities require property managers to serve as the liaison between all parties involved in a particular matter, while providing excellent customer service to ensure all stakeholders are satisfied. These parties often include tenants, owners, contractors, vendors, and other members of the asset management team. Collaborating and coordinating with other members of the property management team is another large role of the property manager position. As a team, the property manager ensures that all property related tasks  are completed in an effective and efficient manner. Below are some of the core responsibilities associated with being a property manager.

List of 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 assistant 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
  • Work closely with the maintenance team to schedule regular inspections of rental units and address any issues that arise during these inspections
  • 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
  • Represent or assist legal team 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 property 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
  • Obtain bids and oversee that the rental property construction projects are in compliance with local building codes and completed on time and within budget

Property Manager Compensation

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. In general, compensation packages for rental property managers may include a base salary or hourly wage, as well as bonuses and other incentives. Bonuses are normally part of a property manager’s compensation and are usually based on performance factors such as achieving occupancy goals, increasing revenues, and decreasing expenses. Most employers may offer benefits such as health insurance, retirement plans, and paid time off for this position.

Property Manager Qualifications

The ideal candidate for a property manager position should have extensive experience and knowledge in the real estate sector, strong interpersonal and problem-solving skills, as well as a valid Real Estate License in their respective jurisdiction. This role requires an individual who is highly organized, detail-oriented, and has the ability to manage multiple tasks simultaneously. The following job qualifications are essential for this position.

List of Property Manager Qualifications

  • Bachelor’s degree in business administration, real estate, or a related field
  • 2-4+ years of prior property management experience in the same or similar asset-class
  • Possess a valid real estate license in the respective state or jurisdiction
  • Demonstrated excellent customer service skills with strong interpersonal abilities that allow them to effectively communicate professionally with potential renters, tenants, vendors, and colleagues  while also resolving conflicts quickly
  • Strong organizational and time management skills; ability to prioritize tasks, plan ahead and problem-solve issues as they arise
  • Ability to work independently, as well as manage other members of the asset management team such as assistant property managers, leasing agents and resident managers (as applicable in residential rentals) to ensure compliance with company policies and procedures
  • Understanding of common marketing and property 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 and other real estate software solutions
  • Proficient with property management softwares such as AppFolio, Yardi Voyager, and other industry standard products
  • Ability to multitask and manage multiple projects simultaneously
  • Proven track record of successfully meeting deadlines while maintaining budgeted expenses and overseeing projects
  • Familiarity with leasing and tenant screening practices
  • Experience in screening prospective tenants for credit, criminal background, and rental history via tenant screening software applications
  • Knowledge of property liabilities, risk management and compliance measures such as the Americans with Disabilities Act (ADA)
  • Familiarity with commercial leasing and contract negotiation for commercial properties
  • Experience with coordinating and overseeing capital improvement projects, tenant improvements, and any general property construction work
  • In-depth current knowledge 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
  • In-depth current knowledge of legal regulations associated with contracts, government ordinances, and required notices
  • In-depth current knowledge of construction building codes as it pertains to the type of property under management, as well as the local jurisdiction where it is located
  • 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 Property Manager Jobs?

We recommend using any of the below online job search platforms to search for a Property Manager job. Click any image below to visit the platform:

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