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





Find a job you love and you will never work a day in your life.Confucius

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.

Freedom to make decisions

How much decision making freedom does this job offer?

No freedom
0%

Very little freedom
5%

Limited freedom
5%

Some freedom
50%

A lot of freedom
40%

Structured vs unstructured work

To what extent is this job structured for you versus allowing you to determine your own tasks, priorities, and goals?

No freedom
0%

Very little freedom
0%

Limited freedom
10%

Some freedom
55%

A lot of freedom
35%


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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.

Denise Supplee
SparkRental


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 range Hourly Annual
Highest (Top 10%) $65 $134,570
Senior (Top 25%) $42 $86,320
Middle (Mid 50%) $29 $59,660
Junior (Bottom 25%) $20 $42,330
No experience (Bottom 10%) $15 $31,330

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%

Work with group or team

How important is it to work with others in a group or team in this job?

Not important at all
5%

Fairly important
0%

Important
10%

Very important
45%

Extremely important
40%

Deal with external customers

How important is it to work with customers in this job?

Not important at all
5%

Fairly important
0%

Important
20%

Very important
30%

Extremely important
45%

Manage or lead others

How important is it to coordinate or lead others in completing work activities in this job?

Not important at all
0%

Fairly important
15%

Important
15%

Very important
45%

Extremely important
25%

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%

Frequency of conflict situations

How often are there conflict situations in this job?

Never
5%

Once a year
10%

Once a month
20%

Once a week
50%

Every day
15%

Dealing with angry people

How often do you have to deal with angry, unpleasant, or discourteous individuals in this job?

Never
0%

Once a year
10%

Once a month
20%

Once a week
60%

Every day
10%

Dealing with physically aggressive people

How often do you have to deal with physically aggressive people in this job?

Never
35%

Once a year
45%

Once a month
15%

Once a week
5%

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%

Repetition in this job

How important is repeating the same type of task over and over in this job?

Not important at all
5%

Fairly important
35%

Important
30%

Very Important
25%

Extremely Important
5%

Impact of decisions on co-workers or company results

What results do your decisions usually have on other people or the reputation or financial resources of your employer?

No impact
0%

Minor impact
0%

Moderate impact
20%

Important impact
55%

Very important impact
25%

Frequency of decision making

How frequently do you have to make decisions that affect other people, the financial resources, and/or the reputation of the company?

Never
0%

Once a year
10%

Once a month
15%

Once a week
45%

Every day
30%

Responsibility for others’ health and safety

How much responsibility is there for the health and safety of others in this job?

No responsibility
0%

Limited responsibility
15%

Moderate responsibility
50%

High responsibility
25%

Very high responsibility
10%

Responsibility for outcomes and results

How much responsibility is there for the work outcomes and results of other workers?

No responsibility
0%

Limited responsibility
5%

Moderate responsibility
25%

High responsibility
50%

Very high responsibility
20%

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 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 for this career
The Entrepreneur

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

43%

14%

19%

52%

100%

81%

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.

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