Career summary

Details for Property, Real Estate, and Community Association Managers


Description

Plan, direct, or coordinate selling, buying, leasing, or governance activities of commercial, industrial, or residential real estate properties.

Tasks

  • 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.
  • Contract with architectural firms to draw up detailed plans for new structures.
  • Negotiate with government leaders, businesses, special interest representatives, and utility companies to gain support for new projects and to eliminate potential obstacles.

Interests

  • Social - Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
  • 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.

Education, training, experience

  • Education - Most of these occupations require a four-year bachelor's degree, but some do not.
  • Training - Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
  • Experience - A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

Knowledge

  • Psychology - Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • 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.
  • 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.
  • 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.
  • 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.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • 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.
  • 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.
  • 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.

Skills

  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Speaking - Talking to others to convey information effectively.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Coordination - Adjusting actions in relation to others' actions.
  • Persuasion - Persuading others to change their minds or behavior.
  • Negotiation - Bringing others together and trying to reconcile differences.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Time Management - Managing one's own time and the time of others.

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