How to Become a Property Manager

How to Become a Property Manager

Are you looking for a new career? Are you sick of being worked to death by a rotten boss? Do you want to leave your old life behind and make a fresh start? You should become a property manager. Becoming a property manager is a rewarding career opportunity. There are plenty of benefits and the qualifications are not too difficult.
 

How Much does a Property Manager Make?

Are you sitting down? Good, because you are going to be in for a surprise. While real estate agents are making $40,300 a year, the 2017 median annual salary for a property manager is a whopping $91,500 according to Salary.com.
 

Now that sounds pretty attractive doesn’t it? Now throw in flexible hours and a variety of different tasks every day. You can also erase the boredom of being a cog in a machine.
 

What does a Property Manager Do?

Investors look to property managers and property management companies to care for the day-to-day management of their rental properties. Property managers offer a full range of services suited to allow a landlord to have a profitable hands-off investment. For a more detailed breakdown of the duties of a property manager, check out this article.
 

Skills that a Property Manager will Need

Are you wondering if you have what it takes to get the job done? While we will talk about licensing a little later, much of the skills that make a property manager great might be traits that you already possess. Does this sound like you?

• Loves to deal one-on-one with people

• Strong sense of justice

• Responsible

• Trustworthy

• Focused

• Loves technology

• Attention for detail

• Good money manager

If that sounds like you, then becoming a property manager might be the glass slipper that will change your life. Being a great property manager is mainly about dealing with people. For example our Sacramento property management team works with tenants, property owners, and maintenance personal on a daily basis. A good personality and the ability to know how to deal with others will outweigh all the book knowledge that you could ever possess.

Steps to Become a Property Manager

Now do you want the really good news? You do not need a bachelor’s education to get this job. While real estate related college course will definitely help you to earn a better salary, a high-school diploma plus the above skills may be all you need for a property management company to hire you. This can be a great way to get your foot in the door and see if you like being a property manager. A high school diploma will get you in at the entry-level position, but as you learn the ropes, you can move up the ranks.
 

If you want to step into the field as a professional, then you should consider ramping up the education. Not only will you be more valuable to an existing property management company, but you will earn a whole lot more money.
 

As a minimum, you should obtain your real estate license. A real estate brokers license is required by most states in order to work as a property manager. Getting your real estate license is quite easy. You will need to take a salesperson licensing course from an state approved accredited real estate licensing school and then pass the state exam. From there you can advance to a broker’s license with some additional classroom hours and several years of on the job experience.
 

Colleges also offer real estate training including real estate management, finance, and administration. These classes can be used to qualify for a real estate salesperson license. You will still need to pass the state exam. College courses in management, accounting, business administration, law and finance will also give you a professional edge.
 

Now, if you want to take your education to the next level, then look to obtain certifications. Certifications tell clients, customers, and fellow professionals that you are committed to providing the highest level of service. Certifications related to the property management profession include Residential Management Professional (RMP), Certified Apartment Manager (CAM), Certified Manager of Community Associations (CMCA). Professionals who have certifications earn significantly more than those that do not.

Do You Have to Have a License to be a Property Manager?

Each state sets different requirements to become a property manager. Here are the requirements for each state. For example, in California, Property Managers need to have a Real Estate Broker License. There are often different requirements if you rent out properties for a landlord or if you are managing say a trailer park or senior residence community.
 

PROPERTY MANAGER LICENSING REQUIREMENTS BY STATE

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