Director of Property Management Salary
Job Description for Director of Property Management
A director of property management is generally a position held in larger company with multiple real estate holdings, though the type of properties held vary from company to company. Directors of property management oversees maintenance of the properties and day-to-day care. The type of properties managed by the director often dictate specific skillsets, such as expertise in health care or retail leasing. Generally, these individuals must ensure that properties are well-maintained and meet relevant local codes (such as for safety). They also handle budgeting and other relevant financial data, as well as oversee subordinates such as individual building managers and maintenance staff.Read More...
Because most large property management firms have holdings in multiple locations, the director of property management often travels among the various properties to assess overall condition and any specific issues. Aside from the traveling, a director of property management spends a great deal of time in an office environment, managing various properties through phone and email, reporting to high-level management about how properties are faring, and conducting strategic planning such as financial forecasting and determining relative profitability of properties.
A bachelor’s degree in finance, business, management, or a related field is generally required for this position. Most employers prefer candidates with previous property management experience.
Director of Property Management Tasks
- Confirm compliance with Landlord Tenant Act.
- Accurately maintain tenant files and documentation.
- Approve and adhere to budgets and expenditures.
- Guide and supervise a team of property managers.
- Resolve any and all conflicts and disputes between tenants and managers.
Director of Property Management Job Listings
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Popular Skills for Director of Property Management
Directors of Property Management report using a wide range of professional skills. Most notably, skills in Financial Analysis, Contract Negotiation, Operations Management, and Property Management are correlated to pay that is above average. Skills that pay less than market rate include People Management, Contractor Management, and Project Management. Those educated in Operations Management tend to be well versed in Budget Management.
Pay by Experience Level for Director of Property Management
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Those who have worked for fewer than five years take home a median salary of $71K, and workers with five to 10 years of experience report earning less ($66K) on average. People with 10 to 20 years of experience make an average of about $89K in this role. Old hands who claim more than two decades on the job enjoy average earnings of $96K.