How to Become a Property Manager: The Ultimate Guide
About 90% of property managers make about $76,000 a year.
If you are wondering how to become a property manager to enjoy making that salary, you may not even know where to start.
Thankfully, we have you covered. Make sure that you keep reading to find out what you need to know about how to manage properties!
Check The Requirements in Your State
If you want to work in property management services, you’ll first need to check what requirements your state has. Each state has different requirements, so make sure you do your research first.
In general, most states will require you to be at least eighteen years old. However, some states require you to be at least twenty-one years old. You’ll also have to be a United States citizen.
You will also need to have a high-school diploma. If you didn’t finish high school, you may need a GED instead.
In some states, you may need more education than that. Most states will require you to have your real estate broker’s license.
In other states, like Oregon, South Carolina, or Montana, you’ll need a specific property management license instead of your real estate broker’s license.
Even more than that, if you live in a state like Maine, Kentucky, or Idaho, there are no requirements for any kind of licensure. However, in place of that, they may require a certain number of hours of training or experience.
Take Educational Courses
Once you’ve figured out what level of licensure you’ll need, you can start taking some educational courses to pass your certification test.
Some companies even want property managers to have a bachelor’s degree in something like finance, real estate, business, or public administration.
If you can’t actually go to a school, you can also try online school. These are normally cheaper and more accessible, but you’ll also be able to still learn all of the valuable skills.
Get Your Certifications
Even if you’re in a state that doesn’t require you to hold certifications, it makes you a more desirable candidate to have them. It also stands out to potential clients.
You should at least get your real estate license. That way if you decide you don’t want to be managing properties, you can still become a realtor and keep working in real estate.
There are also other certifications you can get to boost your resume. Some of them include a Residential Management Professional certification, a Certified Property Manager, Certified Manager of Community Associations, or a Certified Apartment Manager.
For some of these, you’ll have to apply to be able to take the test to pass the certification.
So what does a property manager do? It’s a very difficult job where you’ll be managing properties for different people. Because of the difficulty, it’s definitely not for everyone.
You’ll need to gain skills like being patient. When you have to deal with tenants who are difficult, you’ll need it to be able to work with them to fix the problem and ensure that everyone is happy.
You’ll also need to have good communication skills. You’ll have to talk with all kinds of different types of people, so you’ll have to be able to put on all kinds of different hats and tailor your message and words to fit your audience.
Because you’ll have a lot going on at once, it will also help to be organized. You’ll have to keep track of new lease agreements, when other leases end, negotiating leases, making sure that you complete maintenance repairs, and advertise your property all at once.
Because you’ll be multitasking a lot, it’s also important to understand how to manage your time. You’ll likely get hundreds of calls and emails each day. You’ll also have tasks like attending meetings, marketing properties, showing properties, and doing inspections.
If you don’t have a detailed planner now, make sure that you invest in one and use it diligently.
Create a Resume
Now that you’ve got the skills and the certifications, you can put them together into a resume.
This resume should only be one page, and it will showcase all of the good qualities that make you the best candidate. You should put in all the education that you have and whatever certifications that you hold.
You should also put whatever work experience you have at the top of your resume. If you have room at the bottom, list all of the skills that you think you possess.
Find a Job
Once you’ve completed your resume, you should start looking for different jobs.
You could work for a well-estbalished company. This means that you’ll have good stability and will likely have a 9 to 5 job. Your salary will also come from the business, although you may get a commission.
You could also manage properties on your own. That means you’ll have to purchase some property and then manage it on your own. However, this route is normally the biggest risk, but it could produce the best reward.
Learn More About How to Become a Property Manager
These are only a few things to know about how to become a property manager, but there are many more things that you should be aware of.
We know that trying to find a job can be stressful and overwhelming, but we’re here to help you out.
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