Residential & Commercial Property Managers
Property Managers are responsible for the oversight and day to day operations of residential and commercial properties. This can be done by managing properties they personally own or through a business that specializes in property assistance. Two key areas are financial and customer support. The financial role of this career is ensuring that profit is made. For property managers that are also owners, this means utilizing smart financing, as well as making sure your rates are at market value. If not, a lot of money and profit stands to be lost. For property management companies this means assessing the properties you assist with so that time spent and money earned from each contracted property allows for profitability overall.
Customer support is just that, supporting the customer and/or tenants of each property. For both residential and commercial, this is the human aspect of the career. Support involves making sure money and dues are paid timely for rent/lease, calls and concerns are answered, and problems solved. Happy customers are a great practice. It often leads to positive word of mouth and repeat business.
Individual vs. Team
Property Management can be done in an individual or team setting. For individuals taking on the sole responsibility of property manager, organization and time management are of strategic importance. If not handled properly, the work life balance will lack just that. Individual management is generally a great starting point in this career or for anyone wanting to own property as well. For teams specializing in property management, this allows for larger projects, diversity of properties managed, along with the ability to add on contracted properties from other owners. Management teams also help each team member to thrive in their designated role to ensure customer satisfaction
