Gabbi knew that real estate was the right career from the start. She is now dual licensed in both Kentucky and Ohio. She had her first sale within a month of getting licensed and hit her first million in volume within her first 6 months. She will have her real estate license for the rest of her life. Call her anytime if you have questions about becoming a real estate agent. She loves to share her passion for real estate with others!
Property Management
Property management: what you need to know.
A property management position can be a fulfilling career or an asset for a property investor. Whether you are hiring or making this your full-time job, you need to what the title entails. Property manager responsibilities include:
- Supervising and coordinating building maintenance and work orders
- Handyman work and cleaning
- Resolving tenant concerns and complaints
- Advertising
- Showing and leasing vacant units
- Collecting and depositing rent
- Communicating regularly with the owner on a propertyโs status
Most states do require a property manager to have their real estate sales license. This is because certain business activities require a real estate license including:
- Advertising available rental property
- Preparing property management agreements
- Negotiating lease terms
- Showing rental properties
- Collecting rents
Other requirements:
- 18 years or older
- High school diploma
- US resident
The rental properties that a property manager can oversee are condos, single family homes, multi-family homes, apartment or even retail complexes. The focus is to make sure that the rental process is going smoothly so that the owner does not have to micromanage the asset. A property managerโs salary is usually determined by the number of rental properties they manage and the value of those properties. Their salary can increase if they have additional educational qualifications, certifications, or experience. According to a national study by Indeed, the average salary is $46,143.00 a year.
The industry is usually in high demand, especially in highly populated areas where renting is more affordable than purchasing a home. Itโs a great career for someone that does not want to sit at a desk all day. The responsibilities include many physical tasks and arranging appointments. Itโs a position where you need solid communication skills. This career can also be stressful if you have a tenant or client that is unreasonable. Tenants can make demands or have unrealistic expectations that will make your job difficult. One positive is that you wonโt ever be bored. Managing properties means constant maintenance.
๏ปฟIf you work hard and care for the property, then there is plenty of room for profit. Itโs a great position that will give you experience in sales, time management, and managing cash flow. If you are still interesting in being a property manager click here to find out if the state you live in requires a real estate license to be a property manager.
About the Author
Recent Posts
If youโre thinking about getting your real estate license, you might be wondering how long it takes and how much it costs. The process varies by state, but hereโs a general timeline with expected expenses to help you plan ahead.
Understanding real estate market indicators is essential for making informed decisions, whether you're a buyer, seller, investor, or real estate professional. By analyzing key metrics, you can gauge market health, anticipate trends, and effectively communicate insights to clients and audiences.
Real estate is a career that offers flexibility, unlimited earning potential, and the ability to work well into your later years. However, unlike traditional jobs with employer-sponsored retirement plans and steady salaries, real estate agents must take charge of their own financial future. As you age in the industry, planning for taxes, retirement, and financial stability becomes even more critical.
Let's Stay Connected
Follow us on and become part of the PREC community
Never miss a tweet by connecting with us on Twitter
Check our our posts about trends in real estate industry and market
Have Questions?
Leave Us Your Info & We Will Reach Out
