How to Become a Property Manager

A property manager is a real estate professional who manages a rental property on behalf of the property’s owner. A property owner who owns an investment property like an apartment building will often hire a property manager to handle the day-to-day management and operations of the building.

Property managers care for investment properties of all types, including residential, commercial, or industrial buildings. Properties can be managed by individuals or by property management companies that share the responsibilities across several individuals. A property manager may be responsible for tasks like liaising with tenants, collecting rent, leasing property vacancies, building maintenance, and evictions.

Property managers take on many different responsibilities related to the management of the property. Here is an overview of those responsibilities.

• Leasing a property: Property managers or management companies are typically responsible for all of the duties involved in leasing a property. They will advertise the property for rent, show it to prospective tenants, handle rental contracts, and act as a liaison between the renters and property owners. As such, the property manager can also act as a salesperson for the property to ensure occupancy.
• Tenant Customer Service: Property managers collect rent from tenants, administer lease renewals, and manage day-to-day communication with the people living at the property.
• Property maintenance: Property managers are responsible for coordinating the maintenance and upkeep of a rental property. When a tenant needs something fixed in their apartment or the building needs pest control or cleaning, property management coordinates the contractors or specialists to address those issues.
• Inspections: Property management is responsible for coordinating rental property inspections during both the move-in and move-out phases of leasing. Property managers will report the conditions of the property to the owner to keep record of the property’s condition.
• Evictions: Property management is responsible for dealing with any problem tenants, as well as managing the eviction process in the case of tenants who do not pay their rent.

There are no higher education requirements to become a property manager, but most states require that property managers fulfill the following criteria.

• Age: Property managers must be 18 years or older. In some states, the minimum requirement is 21 years of age to be a property manager.
• Education: The minimum educational requirement for a property manager is usually a high school diploma or GED. Some professionals choose to pursue an associate’s or bachelor's degree in an applicable field (like real estate or business administration) to become a property manager but it is not a requirement.
• Licensing: Most states will require you to obtain your real estate license to become a property manager. This includes completing the pre-licensing coursework and passing a licensing exam in the state.

If you want to start a career in real estate management, consider the following tips.

1. 1. Ensure that you meet the baseline requirements. Before you pursue any higher education or start looking for jobs, look up your state’s laws that outline the requirements for property managers. Confirm that you meet the legal requirements for age, education, and proper work authorization before setting out on obtaining your license or certification.
2. 2. Obtain your real estate license. Higher education isn’t necessary to become a property manager, but most states will require you to have a real estate license to become a property manager. Real estate licensing requirements are set by state governments; each state has specific sets of requirements for real estate professionals, from initial licensing to license renewal. Usually, states will require you to complete some real estate education coursework and to take a real estate licensing exam.
3. 3. Gain entry-level experience in real estate. Many property managers have some experience in real estate like working at a brokerage or a property development company. This will teach you how the market works, help you hone your communication skills, and enable you to build relationships in the field.
4. 4. Obtain certification. Certification can help give you a competitive edge when applying for property management jobs, though they are not required to practice in every state. There are four levels of certification you can pursue which include National Apartment Leasing Professional (NALP), Certified Apartment Manager (CAM), Certified Property Manager (CPM), and Master Property Manager (MPM). National Apartment Leasing Professional or NALP status applies to entry-level property managers looking to learn the skills they need to become proficient in real estate. Certified Apartment Manager or CAM status is for intermediate property managers who are looking to specialize in the management of apartment buildings. Certified Property Manager or CPM certification is also for property managers with some experience but who manage different types of property, including residential, commercial, and industrial properties. Master Property Manager or MPM status is the highest certification for a property manager, requiring at least 5 years of consecutive property management experience.
5. 5. Network to find your first property. Once you've obtained your license and certification, you will need to find your first property to manage. Leverage your personal and professional contacts to find a building owner in search of a property manager. Search the job boards for new property management openings. Making connections with real estate professionals—real estate agents, developers, and real estate brokers—can also lead to opportunities to connect with new building owners in need of property managers. You may also consider working for a property management company to start before managing your own property.

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