Learn something new every day
More Info... by email
An assistant property manager performs many of the administrative duties involved in operating a residential property. He or she is usually responsible for collecting rent, paying bills and property taxes, and negotiating leases with tenants. Assistants frequently communicate with residents, property owners, and senior managers to ensure that all parties are content with present situations. Most people in this position work on-site at apartment buildings or housing complexes, dealing directly with tenants and organizing maintenance, landscaping, and security crews.
Many property owners have difficulty managing everyday business duties themselves. To help them handle the administrative work and make sure that things run smoothly at specific buildings, they hire senior and assistant property managers. The assistant typically works in an office building, meeting with current and prospective tenants. He or she might collect rent, write community newsletters, pay bills, and keeping careful financial records. Assistant and senior property managers meet regularly with building owners to discuss the successes and shortcomings of a facility.
Under the guidance of a senior manager, an assistant often shows apartments to potential new tenants and goes over lease agreements. He or she might be responsible for running credit and background checks, confirming details with previous landlords, and making final decisions regarding applicants. In addition, an assistant property manager may be in charge of creating advertisements for vacancies and move-in deals.
The work of an assistant manager at a large building or complex can be very hectic. In addition to helping current and future residents, an on- site manager is often responsible for directing a number of other workers. He or she might inform a building superintendent, landscaper, or maintenance crew of work that needs to be done, or ask security guards to check on a suspicious tenant or situation.
The requirements to find work as an assistant property manager vary between different countries, states, and employers. In some settings, assistants must obtain college degrees and regional certification. A bachelor's degree or higher in property management, business administration, real estate, or accounting can prepare an assistant property manager for the various administrative duties associated with the job. Depending on the state or country where an assistant wants to work, he or she may be required to pass a written licensing exam covering real estate laws, ethics, and the fundamentals of property management. Many professionals who possess degrees and gain several years of experience are successful in obtaining senior positions.
Most property management jobs require some form of certification in real estate.
A Certified Occupancy Specialty certificate is usually required. In order to be a property manager in Florida you have to have a Community Association Manager certification and have passed the Property Managers exam with a 75% or higher and have completed at least 63 hours of coursework.
A property manager salary is about $60,000 while the average assistant property manager salary is $45,000 a year.
Crispety-An assistant property manager also has to prepare reports and market properties for leasing.
Assistant property manager duties also include monitoring rental receipts and maintain all equipment and systems of the complex and make sure they are in working order.
They also have to maintain landscaping as well as the overall maintenance schedule of the complex. In addition, they have to train all employees with respect to the Fair Housing Act which forbids discrimination based on race or creed.
Also, they have to make sure that they do not comment on the crime in the neighborhood. Many communities send in mystery shoppers to see how the assistant property manager job is handled and how they deal with this question.
They are instructed to suggest that the applicant view the county crime statistics for more information.They are not allowed to disclose actually acts of crime that have taken place on the property's premises.
Property manager jobs are plentiful because many people will hire a property manager to manage their investment property.
Often these owners dislike the primary assistant property manager duties of collecting rents from tenets and ensuring the necessary repairs take place in a timely fashion.
They also screen potential rental applicants to ensure that they do not have a criminal record and are credit worthy.
They may also ask for references and are responsible for making sure that the property is rented.
Because many investors seek investment properties as arm chair investments, they realize that real estate has to be managed in order to be profitable so they seek a property manager.
Many of these
firms charge 5% to 10% of the gross monthly rent for management fees. In addition, many resort properties may charge the owner additional fees such as cleaning fees between rentals.
If you have a long distance property, then you will have to rely on a property manager to manage the rental for you.
One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days. Thank you for helping to improve wiseGEEK!