Property Manager Salary
Job Description for Property Manager
A property manager oversees the operation of a commercial or residential property. The property manager can oversee a variety of employees, such an accounting department, sales department, maintenance department, and grounds-keeping department. The property manager must do periodic inspections of the various parts of the grounds to make sure that everything is in working order. Additionally, work should be followed up on to ensure swift completion.Read More...
This job requires a lot of multitasking. Interviewing and hiring of contractors and regular employees will be the duty of the property manager. The property manager will usually be in charge of training new employees. Strong leadership and communication skills are necessary, in order to be able to work well with other employees and with clients. The property manager will oversee a budget, so it is important to keep costs low. Often, the property manager will aid the marketing and customer service departments in coming up with strategies to increase sales and customer satisfaction.
When customers have complaints or suggestions, they will often wish to speak to the property manager, so it is important to have strong customer service skills, the desire to be able to problem-solve, and the ability to use available resources to come to a positive outcome. Computer skills are necessary, in order to be able to carry out electronic communication, to track expenses and budgets, and to create financial reports. Usually, a bachelor’s degree is required, along with relevant experience.
Property Manager Tasks
- Process leases, collect rent, make bank deposits, verify income and maintain waiting list.
- Ensure compliance with HUD, TCAC or other regulations.
- Process evictions.
- Supervise on-site staff and coordinates repairs and maintenance.
Common Career Paths for Property Manager
Popular Employer Salaries for Property Manager
Popular Skills for Property Manager
Survey respondents exploit a significant toolbox of skills in their work. Most notably, skills in Budget Management, Operations Management, Contract Negotiation, and Real Estate are correlated to pay that is above average, with boosts between 9 percent and 14 percent. At the other end of the pay range are skills like Maintenance, Bookkeeping, and bill collections. The majority of those who know Customer Service also know Customer Relations. Most people who know Property Management also know Budget Management, Customer Relations, and Collections.
Pay by Experience Level for Property Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Property Managers with a lot of experience do not necessarily enjoy more money. Relatively untried employees who have less than five years' experience make $38K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $46K. For Property Managers, 10 to 20 years of experience on the job amounts to an average salary of $50K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $53K.
Pay Difference by Location
For Property Managers, working in the bustling city of New York has its advantages, including an above-average pay rate. Property Managers will also find cushy salaries in Boston (+31 percent), Dallas (+29 percent), Chicago (+20 percent), and Atlanta (+17 percent).