Property, Real Estate, & Community Association Managers

Video transcript: skip transcript

Owners of commercial buildings, apartments, and other real estate… rely on the skills of property, real estate, and community association managers to ensure their property is well maintained and preserves its resale or leasing value. These managers collect rent or fees, process complaints and repair requests, negotiate favorable terms with tenants or sellers, and enforce their facility’s policies. They also show vacant space to prospective tenants, and report profits or losses to property owners. Property and real estate managers oversee the operation of business or residential properties and ensure they achieve their expected revenues. Community association managers work for homeowner or community associations to manage shared property and services for condominiums, cooperatives, and planned communities. Onsite property managers handle day-to-day operations of apartment complexes, office buildings, and shopping centers. Some apartment managers live in the building they manage. Real estate asset managers buy, sell, and develop real estate properties for investors, to ensure the portfolio of holdings remains profitable. Most property, real estate, and community association managers work full time, splitting their time between an office and offsite at meetings and inspections. A high school diploma plus several years’ related work experience is needed for entry-level positions, although many employers prefer to hire college graduates. A real estate license is required for some positions.