Property, real estate, and community association managers play a vital role in ensuring the efficient and successful operation of various properties and communities. These professionals are responsible for overseeing the day-to-day operations, maintenance, and financial aspects of properties such as residential buildings, commercial complexes, and community associations.

Examples of the Job

Property, real estate, and community association managers’ job responsibilities may vary depending on the type of property or community they manage. Here are a few examples:

Residential Property Manager

A residential property manager is typically responsible for managing rental apartments, condominiums, or houses. They handle tenant inquiries, ensure timely rent collection, coordinate repairs and maintenance, and enforce property rules and regulations.

Commercial Property Manager

Commercial property managers oversee the daily operations of commercial buildings such as office complexes, shopping malls, or industrial parks. They handle leasing activities, coordinate with tenants, manage budgets, and ensure the property is properly maintained.

Community Association Manager

Community association managers work with homeowner associations, condominium associations, and cooperative associations. They manage the overall operation, financials, and maintenance of the community. This may involve coordinating with board members, managing budgets, enforcing community rules, and organizing community events.

Education and Training

Although there is no specific educational pathway to become a property, real estate, or community association manager, most employers prefer candidates with a bachelor’s degree in business administration, real estate management, or a related field. Additionally, relevant work experience in property management, real estate, or customer service is highly valuable.

Some individuals start their career as assistant property managers or gain entry-level positions to develop their skills and understanding of the industry. They then progress to managerial positions with increased responsibilities, such as property manager or community association manager. Many property management professionals also choose to acquire industry certifications, such as the Certified Property Manager (CPM) designation from the Institute of Real Estate Management (IREM), to enhance their career prospects.

Getting into the Field

If you’re new to the field and interested in pursuing a career as a property, real estate, or community association manager, here are a few steps to get started:

1. Earn a relevant bachelor’s degree to gain a strong foundation in business administration, real estate management, or a related field.
2. Seek entry-level positions or assistant roles in property management or real estate to gain practical experience and industry knowledge.
3. Consider obtaining industry certifications, such as the Certified Property Manager (CPM) designation, to enhance your credibility and marketability.
4. Network with professionals in the industry, join relevant associations, and attend conferences or seminars to stay updated on industry trends and opportunities.
5. Develop strong communication, organizational, and problem-solving skills, as these are crucial for success in property management.

By following these steps and continuously working on self-improvement and professional development, you can pave your way into a rewarding career as a property, real estate, or community association manager.

Occupation: Property, Real Estate, and Community Association Managers

Salary Data

Effects of Union on the Job

Property, real estate, and community association managers who are nonunion employees have a national average salary range of $77,708.80 to $73,632.00 at all job levels. There is no specific data available on the effects of union representation on the salary range for this occupation.

Best Paid and Least Paid Geographies

The two geographies where Property, Real Estate, and Community Association Managers are best paid and least paid, on average, are as follows:

1. Best Paid : Denver-Aurora-Lakewood, CO
   • Nonunion, All Levels: $123,801.60 (Low)
2. Least Paid : Montana
   • Nonunion, All Levels: $45,718.40 (Low)
   • Nonunion, All Levels: $48,276.80 (High)

Summary

Property, real estate, and community association managers play a crucial role in overseeing the operations and maintenance of various properties and communities. Whether they manage residential properties, commercial buildings, or community associations, these professionals ensure efficient and successful day-to-day operations, handle tenant inquiries, manage budgets, and enforce property rules. While there is no specific educational requirement, most employers prefer candidates with a bachelor’s degree in a related field and relevant work experience. Additionally, obtaining industry certifications and developing strong communication and problem-solving skills can enhance career prospects. Nonunion property, real estate, and community association managers have a national average salary range of $77,708.80 to $73,632.00, with Denver-Aurora-Lakewood, CO being the best-paid geography and Montana being the least-paid geography. Overall, this occupation offers opportunities for a rewarding career in property management.