What Do Property and Real Estate Managers Do (including Their Typical Day At Work)

Job Description

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). They also manage and oversee operations, maintenance, administration, and improvement of commercial, industrial, or residential properties.

Other tasks include:

• 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, and deposits and payment of insurance premiums, mortgage, taxes, and incurred operating expenses.
• Determine and certify the eligibility of prospective tenants, following government regulations.
• Inspect grounds, facilities, and equipment routinely to determine necessity of repairs or maintenance.
• Act as liaisons between on-site managers or tenants and owners.
• Meet with prospective tenants to show properties, explain terms of occupancy, and provide information about local areas.

We asked Property and Real Estate Managers how satisfied they are with their job. Here is what they said.

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75% of them said they were satisfied with their job and 48% said they find that their job makes the world a better place or helps to make someone else’s life better.

Typical Day At Work

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.

We asked some Property and Real Estate Managers a few questions to find out what else does their work day look like. Here is what we found.

	Do you have telephone conversations everyday in this job?	100% said yes
	How important is it to work in a team in this job?	38% said very important
	Do you have group discussions everyday in this job?	81% said yes
	Do you talk or work with customers everyday in this job?	31% said yes
	Do you have to deal with angry customers everyday in this job?	12% said yes
	Do you have to make decisions everyday in this job?	58% said yes

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 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.

Working life

More than 40 hours per week

Regular schedule like a 9 to 5

In a typical work week as a Property, Real Estate and Community Association Manager, you can expect to work more than 40 hours per week.

Is this right for me

People who are suitable for this job tends 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.

You can read more about these career personality types here.

Explore other careers

http://www.bls.gov/OOH/sales/real-estate-brokers-and-sales-agents.htm

http://www.nareb.com/

http://www.realtor.org/