Example Career: Property, Real Estate and Community Association Managers

Career Description

Plan, direct, or coordinate the selling, buying, leasing, or governance activities of commercial, industrial, or residential real estate properties. Includes managers of homeowner and condominium associations, rented or leased housing units, buildings, or land (including rights-of-way).

What Job Titles Property, Real Estate and Community Association Managers Might Have

• Apartment Manager
• Commercial Property Services Coordinator
• Property Manager
• Resident Manager

What Property, Real Estate and Community Association Managers Do

• Manage and oversee operations, maintenance, administration, and improvement of commercial, industrial, or residential properties.
• Plan, schedule, and coordinate general maintenance, major repairs, and remodeling or construction projects for commercial or residential properties.
• Direct collection of monthly assessments, rental fees, and deposits and payment of insurance premiums, mortgage, taxes, and incurred operating expenses.
• Inspect grounds, facilities, and equipment routinely to determine necessity of repairs or maintenance.
• Act as liaisons between on-site managers or tenants and owners.
• Meet with prospective tenants to show properties, explain terms of occupancy, and provide information about local areas.
• Market vacant space to prospective tenants through leasing agents, advertising, or other methods.
• Prepare detailed budgets and financial reports for properties.
• Maintain records of sales, rental or usage activity, special permits issued, maintenance and operating costs, or property availability.
• Direct and coordinate the activities of staff and contract personnel and evaluate their performance.
• Meet with clients to negotiate management and service contracts, determine priorities, and discuss the financial and operational status of properties.
• Solicit and analyze bids from contractors for repairs, renovations, and maintenance.
• Prepare and administer contracts for provision of property services such as cleaning, maintenance, and security services.
• Investigate complaints, disturbances and violations and resolve problems following management rules and regulations.
• Review rents to ensure that they are in line with rental markets.
• Maintain contact with insurance carriers, fire and police departments, and other agencies to ensure protection and compliance with codes and regulations.
• Meet with boards of directors and committees to discuss and resolve legal and environmental issues or disputes between neighbors.
• Purchase building and maintenance supplies, equipment, or furniture.
• Determine and certify the eligibility of prospective tenants, following government regulations.
• Confer regularly with community association members to ensure their needs are being met.
• Negotiate the sale, lease, or development of property and complete or review appropriate documents and forms.
• Clean common areas, change light bulbs, and make minor property repairs.
• Negotiate short- and long-term loans to finance construction and ownership of structures.
• Confer with legal authorities to ensure that renting and advertising practices are not discriminatory and that properties comply with state and federal regulations.
• Analyze information on property values, taxes, zoning, population growth, and traffic volume and patterns to determine if properties should be acquired.

What Property, Real Estate and Community Association Managers Should Be Good At

• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
• Speech Clarity - The ability to speak clearly so others can understand you.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Speech Recognition - The ability to identify and understand the speech of another person.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).

What Property, Real Estate and Community Association Managers Should Be Interested In

• Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
• Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

What Property, Real Estate and Community Association Managers Need to Learn

• Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
• Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
• Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
• Public Safety and Security - Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.
• Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.