The kids are all in school or on their own and you are thinking of going to work. If you are looking for a career in real estate, property management is a great choice. Property managers are tasked with overseeing the business responsibilities of homes, apartments, multi-family buildings, and retail complexes. The tasks they perform can include rent collection, filing taxes, maintenance, and tenant management and verification. If you are good with communication, marketing, and customer service, a career in property management may be right up your alley. Below are some tips for getting started in this lucrative career.
1. Research Hot Job Market Areas
Before you decide to pursue a career as a property manager, you need to research if there is a demand for the position in your area. If not, you may need to consider moving to another region where property management is a viable career option. For example, there is a growing demand for Durham property management professionals. If you wanted to get started, North Carolina would be a great state to live and work in.
2. Research Licensing Requirements
Each state will require specific licensing for anyone looking to become a property manager. The requirements will also be different depending on the type of properties you are wanting to manage. It is up to you to determine and understand the ground rules and laws that apply to you.
3. Take Real Estate Classes for Industry Experience
Most states require property managers to obtain their real estate license as well. When you search online for the requirements of your state, you will get a list of recommended courses to take. Many companies hire property managers that have their real estate licenses and a bachelor’s degree in accounting, finance, business administration, or finance. If attending school is not a viable option, consider attending school is not a viable option, consider taking real estate courses online to build your skills and increase your knowledge of the career.
4. Find Your First Job
After finding the area you want to work in and getting the proper licenses and experience, it is time to look for a job. Don’t underestimate the value of getting on-the-job training. You may have to begin your career in an entry-level position before moving up the ranks to a property manager. There are many ways to find an open position. Use your network to let professional contacts and friends know you are looking to find a property management job. Get to know local real estate agents. They are often the first to hear of openings. You may also choose to search online through job boards and career websites for current positions available.
5. Hone Skills and Stay Updated on Best Practices
Once you have finally achieved the position of a property manager, it is not time to rest and get comfortable. You won’t want to just be a property manager You will want to learn how to become the best property manager. Regularly hone your skills and stay updated on the best practices in the industry. Find ways to stay organized – you’re going to need it in this business! If possible, meet up with other property managers in your area to discuss job tactics. Read online blogs regarding real estate and property management to stay on top of industry trends.
Getting your dream job as a property manager will take time and patience. If you follow the proper steps, you will get there eventually. Get started early by looking for property management companies that have great reputations. Don’t waste time building a solid network of professional contacts in the industry. Send your resume out to everyone until you can find a job that is the perfect fit.