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What Skills are Needed for Property Management Jobs?

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  • Written By: R. Anacan
  • Edited By: Bronwyn Harris
  • Last Modified Date: 14 July 2014
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The field of property management offers a lot of opportunities for the individual seeking a rewarding, challenging and profitable career in real estate. Candidates looking for property management jobs should be aware of the basic structure of many property management companies and of the skill sets that property management companies are looking for in personnel.

Property management jobs are usually found in three main areas; leasing (sales), administration, and management. While most of the property management on-site staff can lease apartments, leasing is typically the responsibility of a leasing consultant. To be a successful leasing consultant, an individual should be proficient and comfortable with all aspects of the selling process, including speaking with clients on the phone, meeting with them face to face and following up until the sale has been made.

Speaking to potential customers on the telephone comprises a large portion of a leasing consultant’s work day. Therefore it is extremely important that the consultant excel on the phone. Ironically, this is the one area that a large percentage of leasing consultants struggle in. This means that there can be a large competitive advantage to those who choose to do well on the telephone.

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Being good on the phone is not simply about being able to politely answer a customer’s questions. The successful leasing agent is one who is not afraid of the telephone and is willing to take inbound calls from customers and make outbound phone calls to potential customers. Leasing agents should also be able to effectively sell the customer on the virtues of the community and be able to consistently make appointments for clients to tour the property over the telephone.

The leasing agent is essentially a sales position; therefore it is absolutely critical that agents possess solid sales and people skills. Agents must be able to interact, relate to and connect with a wide variety of people. They must be proficient in providing meaningful and relevant information to customers and must not be afraid of closing the sale.

Administrative property management jobs are often the next step up from the leasing position. The administrative functions of the property are usually the responsibility of the assistant manager, bookkeeper or community administrator. Those with administrative positions generally collect rent, send out balance due and credit statements, process the statement of deposit accounting (SODA) for residents who have moved out, oversee the eviction process, address resident lease violations and do basic to advanced accounting tasks.

It is very important that those with administrative property management jobs be detail oriented, consistent, tenacious, and possess effective time management and organizational skills. It is also important that administrators be able to handle and diffuse sensitive, difficult and disruptive situations that arise. Unfortunately the job of the administrator often requires them to deal with people at their worst.

A property manager should possess the skills required of both the leasing and administrative personnel, along with leadership, coaching and management skills. Most companies also prefer a property manager with previous experience in the industry. Therefore individuals interested in becoming property managers should expect to start their career as a leasing consultant and then work their way up.

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Discuss this Article

anon324224
Post 4

How can a professional property manager be distinguished from other professions?

Sunny27
Post 3

Icecream17- Entry-level property management jobs can be found in apartment complexes as a leasing agent.

This is the first step in obtaining a property management career. A leading agent will speak to a prospective tenant on the phone and follow up with a candidate by scheduling an appointment.

The leasing agent is also responsible to show the property and market it to the prospective tenant. The leasing agent has to be able to counter any objections offered by a prospective tenant.

For example, a potential tenant might say that the apartment is too expensive to rent, this is where the leasing agent has to really sell the property amenities as well as the security.

The leasing agent is also responsible for performing any credit or background checks in completing the paperwork for the new tenant. This experience can lead to property management jobs in the future.

icecream17
Post 2

Moldova- Property management jobs also require the property manager to maintain the properties main appliances.

A systematic maintenance schedule for water heaters and furnaces as well as any natural gas appliances are necessary to protect the tenants. Checking the fire system every six months also helps keep the building in optimal shape to prevent a fire.

Maintenance can also include hiring a landscaping company to maintain the grounds. If this is a luxury property it might also require hiring a valet company for parking.

Moldova
Post 1

Property management job opportunities are most lucrative in larger properties. Apartment property management jobs that require hundreds of units offer the best compensation.

Some property managers that managing large complexes can earn up to $75,000 a year. Most property management company jobs require a minimum of three years of property management experience, a real estate license and an affiliation with the National Association of Realtors.

Some residential property management jobs require experience in affordable housing and low income tax credits.

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