How to Become a Property Management: Career Advice & Information

Overview & Salaries

Overview

Property managers ensure that buildings and real estate are properly maintained and run. Property managers can have many different responsibilities. They may be in charge of finding tenants for a property and collecting rent for the owner. Property managers are also usually in charge of arranging repairs or maintenance for a building, and may deal with complaints against tenants and homeowners. And they’re also usually responsible for getting the pool clean and the trash collected. Property managers may work for an individual landlord or the management of an entire building, such as an office building or apartment block. People notice when things go wrong in their building, so property managers have to be organized and efficient. 

Salary

Annual salaries for property managers will vary depending on your experience, education level, and expertise. In 2013, the average annual salary for property managers working in the U.S. was $64,270 per year.

For more information on what parts of the country have the most opportunity for property managers, click through to our Best Places to Work tab for information on the number of people employed and the average salary in each state.

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Discover the Best Cities and States to Work in Property Management

California leads the nation in employment for property managers, with 25,250 earning an annual average salary of $75,820. Florida is second in employment, where 17,390 property managers are making an average of $55,080.

The metro areas employing the most property managers are:

  • Los Angeles-Long Beach (6,560)
  • Houston-Sugar Land (4,890)
  • Chicago-Joliet (4,610)

The metro areas employing the highest concentration of property managers are:

  • Naples-Marco Island, FL (4.54 jobs per thousand)
  • Honolulu, HI (4.36 jobs per thousand)

The metro areas employing the best-paid property managers are:

  • Richmond, VA (average annual salary $116,630)
  • Nassau-Suffolk, NY (average annual salary $116,010)

Employment and Salary Information for Property Managers

Use our interactive map below to find out which areas of the United States are currently experiencing the greatest amount of growth and job availability for graduates looking for a career as a property manager. The associated information has been gathered from Bureau of Labor statistics, representing data collected in 2012.

Employment and Information Data for Property Management

Why Become A Property Manager?

People entrust some of their most important investments to property managers. It’s a privilege and a responsibility. Here are some of the benefits of being a property manager:

  • Steady growth. Property management will grow as much as the average U.S. job, with 12% job growth projected between 2012 and 2022.
  • Pays well. Average annual salary was $64,270 per year.
  • Get away from the desk. Property managers have an office, but they’re often away from it: showing properties, inspecting problems, checking up on contractors and staff.
  • Get into management quickly. From an early stage, property managers are in charge—coordinating, giving instructions, making things happen, and being accountable to their clients.
  • Learn about property. If you intend to buy a property of your own one day, you couldn’t get better training in what to look for.

Property Management: What You Need To Know

A property manager has to know property in their local area, especially what rent to charge and the best people to do repairs and maintenance. They also need to be organized, responsive to requests and complaints, and good businesspeople. A working knowledge of these skill sets will help to set you apart from other candidates.

  • Knowledge of Local Property Market
  • Management and Budgeting
  • Familiarity with Service Providers
  • Client Management
  • Organization
  • Attention to Detail

Feel like you’ve got a lot to learn? Get more information about property manager careers, degrees, and applicable courses from one of the schools below.

Degree Options for Property Management Careers

High school diploma

In certain entry-level positions, candidates may only be expected to have a high school diploma or some college coursework completed to become a property manager. Hands-on experience is extremely valuable in any property management role.

Bachelor’s degree

Most employers, however, are looking for candidates with a college degree in business administration, accounting, real estate, public administration, finance, or a related field. This is especially true of commercial managers who will be managing budgets and contracts.

Property managers who are involved in buying and selling property must also have a real estate license. This also may apply to professionals who serve in community associations, depending on the state and the responsibilities they have.