The term property managers may be common to you, but to some extent, you might not know the exact role played by the property manager. By definition, a property manager is a third party who is employed to handle and oversee daily operations of real estate investment of various types. A property manager handles various property management and professional tasks like giving information on the overall cost of operation, calculating annual property budgets, ensuring all property records are complete, accurate and in total compliance to set property regulations. He also oversees subordinate staff in their performance of day to day assignments besides ensuring the project goals are met. The type of properties they manage can range from single family homes, large apartment, to even industrial properties.
Considering the above pivotal roles played by a property manager, it goes without saying that an ideal property manager should be trained, experienced and skilled to handle the said administrative roles. With the above information, it is evident why a bachelor degree and 1-3 years of experience in supervisory role are mandatory when hiring a professional property manager. It is evident that the role played by property professional s goes beyond the basic reporting to the property owner.
The mega question which a majority of people tend to ask is the salary of the property manager. This question is important to anyone who is seeking professional services of a skilled property management expert or even anyone who wants to venture into property management career. The average salary of a property manager in the United States is around $45,461 annually. This figure is arrived after factoring diverse information collected from various job adverts, employees and also customers of various property management companies. Hence, the figure helps you get a general overview more so for comparison purposes. The payment criteria may not be very different from other jobs where the years of experience, level of educations, location of the property, type of property as well as the achievement of the manager are used to determine how much one deserves to be paid. One has to use his or her skills and experience to deliver great property management services; this is what determines whether one’s services are resourceful to the employer or not.
On top of the annual salary, a property manager is also entitled to flextime, participation to professional organizations, house allowance where in most cases he or she is housed within the preemies under his management and health care benefits.
Each real estate organization expects a praiseworthy job from their accomplished property manager and these experts merit better and reasonable remuneration as well; you can use various sources of compensation data such as IREM, ARM, and CPM.