How to Become a Property Manager in 6 Easy Steps

So, you are wondering how to become a property manager? If you love real estate and have a knack for organization, this career could be perfect for you. In this guide, we will walk you through everything you need to know, from what a property manager does to the steps you need to take to become one.

What Does a Property Manager Do?

A property manager is responsible for the daily operations of residential, commercial, or industrial properties. They ensure that these properties are well-maintained and profitable. Duties include collecting rent, handling maintenance requests, dealing with tenant issues, and ensuring the property complies with local laws.

Pixabay / Pexels / A property manager is responsible for the daily operations of residential, commercial, or industrial properties.

They also play a crucial role in marketing properties and finding new tenants. Essentially, a property manager is the middleman between property owners and tenants, ensuring smooth operations and tenant satisfaction.

What is the Average Salary of a Property Manager?

The salary of a property manager can vary based on location, experience, and the type of properties managed. On average, a property manager in the United States earns around $50,000 per year. However, this can range from $30,000 to over $70,000 annually. Experienced managers overseeing high-end properties or large complexes can earn even more.

You bet! It is a stable career with potential for growth as you gain more experience and take on more significant properties.

How to Become A Property Manager?

The first step in learning how to become a property manager is to get the right education. While a degree is not always required, coursework in real estate or business can provide a solid foundation. Many community colleges and universities offer relevant courses.

These courses cover essential topics like property management, real estate law, finance, and marketing. They prepare you for the various tasks you will handle as a property manager.

SHKR / Pexels / On average, a property manager in the United States earns around $50,000 per year.

Apart from that, some states require property managers to have a real estate license, which involves completing specific coursework and passing an exam.

Gain Experience in Real Estate

Experience in the real estate industry is invaluable. You can start by working in related fields like real estate sales, leasing, or administrative roles in property management companies. This hands-on experience will give you insights into the daily operations of property management.

Similarly, this also helps you build a network of contacts, which can be beneficial as you advance in your career.

Obtain Necessary Licenses and Certifications

Depending on your state, you may need specific licenses or certifications to become a property manager. For instance, some states require property managers to have a real estate broker’s license.
This involves completing pre-licensing courses and passing a state exam.

Check your state’s requirements and ensure you meet all the legal criteria.

David / Pexels / If you are looking for flexibility, consider online courses. They allow you to learn at your own pace and can be more convenient if you are balancing work or other responsibilities.

Build Your Network

Networking is crucial in the real estate industry. Join professional organizations like NARPM or the Institute of Real Estate Management (IREM). These organizations provide opportunities to connect with other property managers, share experiences, and learn about industry trends.

Ideally, attend local real estate events, workshops, and seminars to expand your network.

Apply for Property Management Positions

With the right education, experience, licenses, and network, you are ready to start applying for property management positions. Look for job openings at property management companies, real estate firms, and property development companies.
Ideally, tailor your resume to highlight your relevant experience, skills, and certifications.

Continue Learning and Growing

The real estate industry is constantly evolving, and staying updated is essential. Continue learning by taking advanced courses and attending industry conferences. Pursue higher-level certifications to enhance your expertise and marketability.

Staying informed about new property laws, management techniques, and market trends will make you a better property manager.