In this article, we will show you the detailed and updated Property Manager job description. Here you will also find the duties of a Property Manager, responsibilities, qualifications, skills, and estimated annual salary.
This Property Manager job description template provides critical duties and responsibilities for the Property Manager. It’s ready to post on various job sites to assist you to recruit and hire talented persons who will effectively manage the company’s properties. As a job seeker, you can use this information to make a very rich resume and as well get yourself prepared for an interview.
Read Also: Staff Accountant Job Description, Duties, Responsibilities, Qualifications, skills and Salary
Property Manager Job Description
A Property Manager, sometimes known as a Residential Property Manager, is in charge of managing the maintenance and repair of residential properties, as well as tenant satisfaction.
They are usually employed by the property owner to oversee and manage the day-to-day operations of their real estate investment. Property managers are responsible for setting and collecting rent, resolving maintenance requests, filling unoccupied apartments, and potentially setting the property’s budget.
Their responsibilities include organizing normal maintenance such as landscaping, lawn mowing, roof tile replacement, and air vent replacement, supervising a team of residents and maintenance personnel, and enforcing rental restrictions.
Duties of a Property Manager(property manager Job Duties)
- Taking care of all aspects of assigned properties
- Creating business plans for assigned properties that meet the needs of customers
- Inspecting and planning maintenance to ensure compliance
Read Also: Dietary Aide Job Description, Duties, Responsibilities, Qualifications, Skills and Salary
Property Manager Job Responsibilities
Property managers have numerous responsibilities and tasks to perform on behalf of the company or property owner. Some of their major responsibilities are; Property Manager Job Description
- Maintains property rentals by advertising and filling vacancies, negotiating and enforcing leases, and maintaining and securing premises.
- Establishes rental rate by surveying local rental rates and calculating overhead costs, depreciation, taxes, and profit goals.
- Attracts tenants by advertising vacancies, obtaining referrals from current tenants, explaining the advantages of location and services, and showing units.
- Contracts with tenants by negotiating leases and collecting security deposits.
- Accomplishes financial objectives by collecting rent, paying bills, forecasting requirements, preparing an annual budget, scheduling expenditures, analyzing variances, and initiating corrective action.
- Maintains property by investigating and resolving tenant complaints, enforcing rules of occupancy, inspecting vacant units and completing repairs, planning renovations, contracting with landscaping and snow removal services
- Maintains building systems by contracting for maintenance services and supervising repairs.
- Secures property by contracting with security patrol service, installing and maintaining security devices, establishing and enforcing precautionary policies and procedures, and responding to emergencies.
- Enforces occupancy policies and procedures by confronting violators.
- Prepares reports by collecting, analyzing, and summarizing data and trends.
- Accomplishes organization goals by accepting ownership for accomplishing new and different requests and exploring opportunities to add value to job accomplishments.
- In charge of supervising, maintaining, and inspecting all designated buildings and properties.
- Coordination of ongoing maintenance and inspections to ensure compliance with all applicable laws, codes, and company policies.
- Tenants are chosen through interviews and background checks.
- Collect rent, pay bills, and examine financial statements
- Create an annual budget and report on financial performance on a regular basis.
- Manage on-site personnel as well as vendor and contractor relationships.
- Respond to tenant complaints, violations, and issues.
- Maintain all records, correspondence, and files.
- Create and maintain relationships with your tenants.
- Control all aspects of the assigned properties.
- Create business plans for assigned properties that meet the needs of customers.
- Inspect and plan maintenance to ensure standards are met.
- Maintain a positive and fruitful relationship with your tenants.
- Lease/contract negotiations with contractors must be done in a timely and dependable manner.
- To attract tenants, advertise and market vacant spaces.
- Collect receivables and manage operating expenses.
- Annual budgets are created and managed by forecasting needs and analyzing variances, data, and trends.
- Oversee and evaluate the performance of property personnel.
- Meet financial objectives and report on financial performance on a regular basis.
- To increase business opportunities, find and cultivate prospective clients.
Read Also: Retail Sales Associate Job Description, Duties, Responsibilities, Qualifications, Skills and Salary
Qualifications for Property Manager (property manager job qualifications)
- GED, high school diploma, or equivalent
- A bachelor’s degree or comparable experience is preferred.
- 3-5 years of real estate or sales experience
- A minimum of 1-3 years of management experience is preferred.
- Knowledge of office software such as Microsoft Outlook, Excel, and Word is required.
- A bachelor’s degree is strongly preferred, but equivalent property management work experience will be considered.
- The designations CPM, RPA, or RAM are preferred.
- 5 years of property management experience
- Microsoft Office is a strong suit.
- Excellent interpersonal skills
- Demonstrated ability to adhere to operational policies and procedures, codes, and regulations
- Must be able to read, write, and speak English fluently. Excellent organizational, problem-solving, and interpersonal skills are required.
- Strong familiarity with and working knowledge of anti-discrimination and affordable housing laws
- Proven property management experience
- Understanding property management and its financial aspects completely
- Microsoft Office and property management software proficiency
- Knowledge of marketing and accounting principles.
- Possess the designations of Certified Property Manager (CPM), Real Property Administrator (RPA), or Registered in Apartment Management (RAM).
Property Manager Job Skills
- Sales inspiration
- Negotiation
- Understanding of applicable local, state, and federal laws and regulations
- Excellent organization and attention to detail
- Knowledge of office management software
- Professionalism
- Communication within the organization
- Listening
Property Manager Salary
Based on 248 salaries, an entry-level Property Manager with less than one year of experience can expect to make an average total compensation (tips, bonus, and overtime pay) of $41,568. Based on 3,301 salaries, an early career Property Manager with 1-4 years of experience makes an average total salary of $47,622. Based on 2,707 salaries, a mid-career Property Manager with 5-9 years of experience makes an average total salary of $52,075 each year. Based on 2,741 salaries, an experienced Property Manager with 10-19 years of experience gets an average total pay of $56,680. Employees in their late careers (20 years and up) get an average total remuneration of $59,259.
Read Also: Sales Manager Job Description, Duties, Responsibilities, Qualifications, skills and Salary
Conclusion
In summary, Property managers are in charge of managing the financial and operational aspects of residential, commercial, and industrial properties. Property managers strive to keep tenants satisfied while minimizing costs. They are in charge of dealing with tenant issues, collecting rent, dealing with maintenance, and managing the budget.
Property managers provide hands-on oversight for residential and commercial properties, including regular site management, communication, problem resolution, and emergency response.
Finally, Property managers are in charge of managing the financial and operational aspects of residential, commercial, and industrial properties.