A property administrator normally is employed with a large-scale commercial real estate organization. Their job is to ensure that commercial and residential buildings leased by the company are well maintained, updated, and remodeled as necessary, and that all aspects of billing and accounts are taken care of in a timely manner.
The property manager normally has some experience in construction management. They must oversee and approve all repair and renovation work on the properties they oversee to ensure they comply with contractual requirements of existing leases and are attractive to future occupants. They must keep meticulous budgets for these projects and ensure that material and labor costs fall into line with budgets.
Additionally, property administrators oversee maintenance for larger-scale commercial or residential properties, helping to arrange bidding and signing off on contracts for landscaping, sanitation, custodial, and snow removal. In many situations, the property manager oversees all lease billing and ensures proper accounts receivable procedures are maintained. They forecast the value of properties they manage and create leases that attract new occupants while also maximizing profitability.
The education requirements of a property administrator is normally a bachelor's degree, preferably in business, management, or a related field. For organizations who expect most of the work of their administrators to revolve around construction and renovation, background in contracting and construction management (and any related vocational certifications) is also desirable. The property administrator usually works regular business hours, but is expected to be on-site at the various properties he or she manages.
Property Administrator Tasks
- Develop and maintain calendar for updating and tracking ongoing projects, like taxes, insurance and emergency call lists.
- Coordinate tenant and manager requests, supply needs and maintenance schedules.
- Create, organize, edit and maintain property, tenant, and related documentation.
- Monitor budgets and inform property managers about available funds, creating reports for owners.