What does a Property Manager do?
A Property Manager oversees the daily operations of a real estate property, ensuring the property is run smoothly and efficiently, and making sure that that the needs of the property owners’ are met. Property Managers may manage a single unit or a group of apartments, houses or buildings in different locations or an estate. They take on a variety of tasks from finding new tenants or buyers to holding property inspections to performing administrative tasks.
Property Managers may also handle undeveloped parcels of land. Commercial Property Managers for example only manage industrial and office buildings, while Residential Property Managers deal with residential buildings. Acquisition Managers deal solely with the sale/purchase of property.
Property Manager skills and qualifications
A successful Property Manager will have the following prerequisite skills and qualifications:
- Excellent knowledge of the property and real estate market
- Strong negotiation skills
- Great management and organisational skills
- Bachelor’s Degree in Property Management
- Working knowledge of word-processing tools and other relevant computer software, including Microsoft Office
- Working knowledge of financial principles
- Excellent communication skills
- Ability to work well in a team
- Ability to work with minimal supervision
Property Manager experience requirements
A Property Manager should have one to two years of experience in the field or in a similar capacity. They need proven experience in dealing with a property’s tenants, handling their inquiries and addressing their complaints. Property Managers should have experience with property valuation, setting rents and paying all government levies.
A Property Manager with multiple years experience can become a Senior Property Manager. Senior Property Managers deal with the business side of things, including ensuring that the property maximises its profits and maintaining vendor relationships.
Property Manager education and training requirements
Typically, a tertiary education is not required for prospective Property Managers. However, it’s good to have a university degree in Real Estate Management or Property Management. Without these degrees, they may enroll in a conversion course with the Institute of Facilities Management or the Royal Institute of Chartered Surveyors. Other possible training requirements include short courses run by estate agencies, housing associations and property consultancies.
Property Manager salary expectations
According to Indeed Salaries, the average salary for a Property Manager in the United Kingdom is £27,598 per year. This figure could be higher or lower based on the city or town in which the job is located. Salary expectations also differ based on the company, years of experience and the value of the assets to be managed.
Job description samples for similar positions
If a Property Manager is not quite the role you’re interested in, but you’re looking for something similar, here are some other job description samples for you to consider: