If you have ever rented your living space, (and most of us have or do) you have most likely encountered a property manager. Managers are the people who come to the rescue when basements flood, heating or cooling systems fail or sinks clog. But this is only a small part of what a property manager does. Find out below all of the tasks and responsibilities a property manager takes charge of when he or she signs a management agreement.

• Property managers act as liaisons between tenants and residential or commercial building owners. The property manager is responsible for the physical condition of the building, surrounding area and relations with those who live or work there. Property managers generally oversee the administrative, financial, operational and sometimes even legal aspects of the property.

(Creative Commons photo by webq33k)

• Property managers are responsible for a wide range of tasks to keep a property running smoothly; a property manager can have as little as one property to an entire portfolio or assets. A manager ensures the building is performing at its highest possible standard both operationally and financially.
• Often, managers are brought on to take over a property because the owner has not the time or skills to run the property successfully.

• Due to the nature of the job, many property managers work long and varied hours. Property managers must be:

1. Responsible
2. Organized
3. Resourceful

• While no formal requirements are needed to become a property manger, most employers prefer their managers to have a bachelor's degree. A good working knowledge of real estate is also a plus. Property managers could have degrees in:

1. Property management
2. Business administration
3. Accounting
4. Finance
5. Real estate
6. Public administration

There are a number of training programs and professional designations that can be achieved from one of the numerous industry organizations (see the Top 7 above). Whether for a refresher course, continuing education, or the foundation of your knowledge for pursuing property management, these courses and organizations can be very beneficial to anyone in the industry.

• Training programs may be offered by potential employers. With regard to licensing, property managers who manage subsidized housing for the Federal Government must be certified.

• Property managers may begin their careers by working as:

1. Assistants to senior property mangers,
2. Young professionals with degrees in property management, real estate, finance or business administration learning how to:
   1. Be the first point of contact for tenants
   2. Prepare budgets for the short and long term
   3. Analyze insurance coverage
   4. Attract and screen new tenants through marketing property
   5. Set up systems for collecting rent and dealing with maintenance requests
3. Onsite managers of:
   1. Apartment buildings
   2. Office buildings

• If you are considering a career as a property manager, it's important to know the job can be challenging. Property mangers act as the bridge between property owners and tenants, often handling everything from structural problems to rent collection. If you enjoy a busy, flexible work schedule and learning something new everyday, property management might be the right career for you.

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• Introduction
• Step 1: Decide If It's Right for You
• Step 2: Education and Training
• Step 3: Entering the Workforce
• Conclusion