What Does A Property, Real Estate and Community Association Manager Do (including Their Typical Day at Work)

Stan T.Career, Overview

Salary, Job Description, How To Become One, and Quiz

Property and Real Estate Managers

Property and Real Estate Managers plan, direct, or coordinate the selling, buying, leasing, or governance activities of commercial, industrial, or residential real estate properties. Includes managers of homeowner and condominium associations, rented or leased housing units, buildings, or land (including rights-of-way).

Salary
$73210
Becoming One
Hard
Education
Bachelor's degree
Job Satisfaction
Job Growth

Personality
Interest Match


What they do

Property and Real Estate Managers plan, direct, or coordinate the selling, buying, leasing, or governance activities of commercial, industrial, or residential real estate properties. Includes managers of homeowner and condominium associations, rented or leased housing units, buildings, or land (including rights-of-way).

  • Manage and oversee operations, maintenance, administration, and improvement of commercial, industrial, or residential properties.
  • Plan, schedule, and coordinate general maintenance, major repairs, and remodeling or construction projects for commercial or residential properties.
  • Direct collection of monthly assessments, rental fees, deposits, and payment of insurance premiums, mortgage, taxes, and incurred operating expenses.
  • Determine and certify the eligibility of prospective tenants, following government regulations.

Typical day

On a daily basis, Property and Real Estate Managers clean common areas, change light bulbs, and make minor property repairs. They market vacant space to prospective tenants through leasing agents, advertising, or other methods.

A typical day for a Property, Real Estate, and Community Association Manager will also include:

  • Direct and coordinate the activities of staff and contract personnel and evaluate their performance.
  • Manage and oversee operations, maintenance, administration, and improvement of commercial, industrial, or residential properties.
  • Determine and certify the eligibility of prospective tenants, following government regulations.
  • Maintain records of sales, rental or usage activity, special permits issued, maintenance and operating costs, or property availability.
  • Act as liaisons between on-site managers or tenants and owners.

Other responsibilities

Besides their typical day, Property and Real Estate Managers also meet with clients to negotiate management and service contracts, determine priorities, and discuss the financial and operational status of properties. They may also negotiate the sale, lease, or development of property and complete or review appropriate documents and forms.

On a weekly to monthly basis, Property and Real Estate Managers solicit and analyze bids from contractors for repairs, renovations, and maintenance. They might also inspect grounds, facilities, and equipment routinely to determine the necessity of repairs or maintenance.

In addition, they confer regularly with community association members to ensure their needs are being met.

Although specific duties may vary, many of them purchase building and maintenance supplies, equipment, or furniture.

To some Property and Real Estate Managers, it is also their responsibility to prepare detailed budgets and financial reports for properties.

What is the job like

Job satisfaction

Very High

Is this job meaningful

Average

75% said they were satisfied with their job and 48% said they found their job meaningful.


Denise Supplee
Long and Foster

My name is Denise Supplee, I am co-founder of SparkRental.com where we help everyday people build passive income through real estate investing, and work toward financial independence. I’m also an active, licensed Realtor and property manager with Long and Foster in Pennsylvania. I’ve been licensed and have worked in the real estate industry, in many facets for over 35 years.

I used to manage hundreds of units. My day would start out going through the various messages from tenants and vendors. I would make notes on any emergency repairs that needed to be taken care of. I then would check in with my maintenance team. We would spend about 15 to 20 minutes going over the day’s projects. These included make-readies, routine maintenance, and repairs.

My assistant manager would man the office while I would take my early morning drive/walk-through the property, checking for any issues, looking at apartments being prepped for renting while making notes of anything I found to be taken care of.

The rest of the day was spent on making budgets, collecting rent, sending notices out, and overseeing staff and contractors.

At one of the communities I managed, I found that our general contractor was charging us a lot of money to oversee our renovation project. I ended up letting him go and acting as the GC, hiring my own sub-contractors and saving the management company thousands of dollars.

I live on the east coast and the weather would leave me at times with little sleep. Making sure that the walkways, parking lots, and all thoroughfares were clear of ice and debris would be a literal nightmare. I found in my younger days of management that renters like to sue landlords.

I have stories of lockouts gone wrong, finding maintenance workers in precarious situations, and the like.

Currently, I manage my own portfolio and only a dozen properties for others. Frankly, it is smooth. Everything is automated. Working with Long and Foster, I have contractors to inspect, repair and conduct make-readies. I do keep hands-on with regards to inspecting units for move-ins and move-outs and quarterlies. Rent collection is done online. I recently negotiated a renewal online.

I have told my kids that it is important to have a passion for what you do. Because the long hours and late-night calls will not be as bad. I could not imagine working in this field in any capacity without the love of assisting people.


Pros

Suitable for people who like to start and carry out projects.

Suitable for people who want independence and like to work on their own and make decisions.

This career is perfect for people who love to work indoors.

Very good salary.

Cons

Not suitable for people who like to solve problems mentally.

It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.

Long working hours (More than 40 hours per week).

How much do they make

Average salary

$73210 per year

Average hourly wage

$35 per hour

Entry-level Property and Real Estate Managers with little to no experience can expect to make anywhere between $31,330 to $42,330 per year or $15 to $20 per hour.

Salary by experience Annual Hourly
Highest (Top 10%) $134,570 $65
Senior (Top 25%) $86,320 $42
Median $59,660 $29
Junior (Bottom 25%) $42,330 $20
No experience (Bottom 10%) $31,330 $15

This table shows the top 10 highest paying industries for Property and Real Estate Managers based on their average annual salary.

Salary by industry Annual Hourly
Architectural, Engineering, and Related Services $130500 $62.74
Natural Gas Distribution $129070 $62.05
Oil and Gas Extraction $127960 $61.52
Scientific Research and Development Services $121590 $58.46
Pipeline Transportation of Natural Gas $120960 $58.15
General Medical and Surgical Hospitals $119730 $57.56
Rail Transportation $111960 $53.83
Management of Companies and Enterprises $110710 $53.23
Credit Intermediation and Related Activities $109450 $52.62
Electric Power Generation, Transmission and Distribution $107770 $51.81

View more salary by industries here.

Where can they work

Where can Property and Real Estate Managers work? Here is a table showing the top 10 largest employers of Property and Real Estate Managers including the average salary in that industry.

Employers Total Employed Annual Salary Hourly Wages
Real Estate 175100 $69310 $33.32
Local Government 7660 $73530 $35.35
Management of Companies and Enterprises 6370 $110710 $53.23
Business, Professional, Labor, Political, and Similar Organizations 6120 $68280 $32.83
Residential Building Construction 2840 $99040 $47.62
Land Subdivision 1940 $100990 $48.55
Employment Services 1500 $72750 $34.98
Oil and Gas Extraction 1410 $127960 $61.52
Office Administrative Services 1210 $70080 $33.69
Management, Scientific, and Technical Consulting Services 1130 $83530 $40.16

What is the work day like

Working hours

Less than 40 hours
0%

40 hours
20%

More than 40 hours
80%

Working schedule

65%

30%

5%

Email

How often do you use email in this job?

Once a week
5%

Every day
95%

Telephone

How often do you have telephone conversations in this job?

Once a week
5%

Every day
95%

Group discussions

How often do you have group discussions in this job?

Once a week
16%

Every day
84%

Public speaking

How often does this job require you to do public speaking?

Never
0%

Once a year
50%

Once a month
50%

Once a week
0%

Every day
0%

Level of competition

How much competitive pressure is in this job?

Not competitive at all
0%

Slightly competitive
5%

Moderately competitive
30%

Highly competitive
60%

Extremely competitive
5%

What is the work environment like

Office-style environment

Indoors in an environmentally controlled condition

Never
25%

Once a year or more
0%

Once a month or more
5%

Once a week or more
0%

Every day
70%

Warehouse-style environment

Indoors in a non-controlled environmental condition such as a warehouse

Never
42%

Once a year or more
5%

Once a month or more
11%

Once a week or more
32%

Every day
11%

Outdoors

Outdoors exposed to all weather conditions

Never
15%

Once a year or more
15%

Once a month or more
30%

Once a week or more
30%

Every day
10%

Outdoors – Under Cover

Outdoors but under cover (e.g. structure with roof but no walls)

Never
50%

Once a year or more
15%

Once a month or more
15%

Once a week or more
20%

Every day
0%

How to become one

Difficulty to become one

Hard
You will need a considerable amount of work-related skill, knowledge, or experience. Careers in this difficulty category usually require a Bachelor’s degree and several years of work-related experience, on-the-job training, and/or vocational training. Similar careers include Database Administrators, Chemists, Art Directors, and Accountants.

Required level of education

What level of education do you need to perform the job?

Less than a High School Diploma
0%

High School Diploma or equivalent
15%

Post-Secondary Certificate
10%

Some College Courses
5%

Associate’s Degree or similar
5%

Bachelor’s Degree
55%

Post-Baccalaureate Certificate
0%

Master’s Degree
0%

Post-Master’s Certificate
0%

First Professional Degree
10%

Doctoral Degree
0%

Post-Doctoral Training
0%

Relevant majors

Real Estate

A program that prepares individuals to develop, buy, sell, appraise, and manage real estate. Includes instruction in land use development policy, real estate law, real estate marketing procedures, agency management, brokerage, property inspection and appraisal, real estate investing, leased and rental properties, commercial real estate, and property management.

Real Estate Development

A program that prepares individuals to create and redevelop housing, offices, retail centers, and industrial sites. Includes instruction in architectural design and construction, historic preservation, landscape architecture, urban planning and design, business, real estate and land use law, public policy, and engineering.

Relevant work experience

How much related work experience do you need to get hired for the job?

None
0%

1 month
0%

1 to 3 months
0%

3 to 6 months
0%

6 months to 1 year
10%

1 to 2 years
25%

2 to 4 years
20%

4 to 6 years
35%

6 to 8 years
5%

8 to 10 years
5%

Over 10 years
0%

On The Job Training

How much on the job training do you need to perform the job?

None or short demonstration
0%

1 month
20%

1 to 3 months
15%

3 to 6 months
30%

6 months to 1 year
15%

1 to 2 years
5%

2 to 4 years
10%

4 to 10 years
5%

Over 10 years
0%

Should you become one

Best personality type for this career

The Leader

People with this personality likes to start and work on projects. They also like leading people and making many decisions.

The Builder
43%

People with The Builder personality type likes practical and hands-on work. They prefer working with plants, animals, and real-world materials like wood, tools, and machinery.


The Thinker
14%

People with The Thinker personality likes to work with ideas that require an extensive amount of thinking. They prefer work that requires them to solve problems mentally.


The Artist
19%

People with The Artist personality likes to work with designs and patterns. They prefer activities that require self-expression and prefer work that can be done without following a clear set of rules.


The Helper
52%

People with The Helper personality type likes to work with people and in teams. They prefer work that allows them to build relationships with others.


The Leader
100%

People with The Leader personality likes to start and work on projects. They also like leading people and making many decisions.


The Organizer
81%

People with The Organizer personality type likes to follow set procedures and routines. They prefer working with data and details more than with ideas.


You can read more about these career personality types here.

People who are suitable for this job tend to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk-taking and often deal with business.

They also like following set procedures and routines. They like working with data and details more than with ideas.

Take this quiz to see if this is the right career for you.

Work Values

Which values are the most important to a person’s satisfaction for this job?

Achievement
71%

You are someone who is results oriented. You prefer work that allows you to utilize your skills and abilities while at the same time giving you a sense of accomplishment.

Working Conditions
69%

You are someone who values job security, steady employment, and good working conditions. You also prefer work that keeps you busy all the time with something different to do every day.

Recognition
62%

You are someone who values job advancement and leadership roles. You prefer work that receives recognition for the work you do and jobs that are looked up to by others in the company and your community.

Relationships
62%

You are someone who likes to provide a service to others. You prefer a work environment where you can work with your co-workers in a friendly non-competitive environment.

Support
52%

You are someone who values a company that stands behind their employees. You prefer a work environment where everyone is treated fairly and is being supported by the company.

Independence
81%

You are someone who likes to work on your own and make your own decisions. You prefer work that requires little supervision and are allowed to try out your own ideas.

FAQ


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