You’re interested in property management. What are the most common career paths to follow?

1 Education and certification

One of the first steps to becoming a property manager is to get the appropriate education and certification. Depending on your location and the type of property you want to manage, you may need a high school diploma, a college degree, or a professional license. For example, some states require property managers to have a real estate broker's license, while others have specific courses or exams for property management. You can also pursue voluntary certifications from organizations like the Institute of Real Estate Management (IREM) or the National Association of Residential Property Managers (NARPM) to enhance your credentials and credibility.

2 Entry-level positions

Once you have the necessary education and certification, you can look for entry-level positions in property management companies or real estate agencies. These positions may include assistant property manager, leasing agent, maintenance coordinator, or property accountant. In these roles, you'll learn the basics of property management, such as marketing, leasing, tenant relations, budgeting, reporting, and compliance. You'll also gain valuable experience and network with potential employers and clients.

3 Career advancement

As you gain more experience and skills in property management, you can advance to higher-level positions or specialize in a certain niche. For example, you can become a property manager, a regional manager, a portfolio manager, or a director of property management. These positions involve more responsibility, leadership, and strategic planning. You can also focus on a specific type of property, such as multifamily, office, retail, or hospitality. Alternatively, you can start your own property management business or work as an independent contractor or consultant.

4 Skills and qualities

To succeed in property management, you'll need to cultivate a variety of skills and qualities that will help you manage properties effectively and efficiently. Communication is key in this field, as you'll need to interact professionally with tenants, owners, vendors, and staff, while also being able to handle complaints, conflicts, and negotiations. Organization is also essential for keeping track of multiple tasks, deadlines, documents, and details. Problem-solving is another important skill to have when identifying and resolving issues that may arise in the properties. Additionally, customer service is a must for providing excellent service to tenants and owners and building trust and loyalty. Finally, technology is an invaluable asset for using various software and tools to manage properties.

Property management can be a rewarding and challenging career that offers many opportunities for growth and development. To pursue this field successfully, you'll need to get the right education and certification, start with entry-level positions, and work your way up to higher-level or specialized roles. You'll also need to demonstrate the necessary skills and qualities that make a successful property manager.