What Does a Property Manager Do?

business economy

A property manager is responsible for the maintenance and management of a physical building or property. There are two types of property managers: residential and commercial. The specific tasks required in these two types of roles are different, but the overall position requirements are the same.

In order to become a property manager, most employers require post-secondary education in architecture, business or property management. Candidates with this type of training are able to review detailed drawings, work with the construction trades and make decisions about the long-term care of a building or property. Communication skills are also very important for a property manager. These can be obtained through courses or seminars.

Many people gain valuable experience in property management through a position in a building trade. These roles provide valuable experience working with other trade professionals, determining the project needs and ensuring the project remains on budget. On average, adults change career seven times in their working lives. Cross-functional skill sets are a great way to switch career paths with minimal disruption.

Residential property managers have a combination of business and property related responsibilities. They are typically responsible for tenant applications, collection of rent and managing the building budget. The property related responsibilities include resolving emergency calls, scheduling maintenance, inspection of the property, renovations and large-scale projects. This role often requires on-call hours to respond to emergencies.

Commercial property managers tend to have a specific budget and staff they are responsible for managing. The primary task of this type of property manager focuses on preventive maintenance, renovations and scheduled property maintenance. The standard of service expected in a commercial building is typically higher than in residential.

Commercial properties can range from office towers to sprawling retreats in the country. Each type of property requires ongoing maintenance and management to ensure that it is running properly. The effects of time, weather and people mean that property management will always be a necessary function.

Historical buildings often have a property manager who is responsible for restoration and maintenance. In this role, the property manager needs a background in architecture. This ensures that the appropriate combination of modern and traditional techniques is used to maintain the property.

In a large property management company, there are many opportunities for career advancement. These roles are typically office based, removing the fieldwork aspect of property management. Talk with your manager about the education and experience requirements to qualify for these positions in your firm.

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Written by Carol Francois


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