Education:
55%
Bachelor's Degree
15%
High School Diploma - or the equivalent (for example, GED)
Property, Real Estate, or Community Association Manager
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Job Outlook:
Faster than average
Education:
High school diploma or equivalent
Salary
High:
$129,900.00
Average:
$76,110.00
Hourly
Average:
$36.59
What they do:
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).
On the job, you would:
- Prepare detailed budgets and financial reports for properties.
- 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.
Important Qualities
Communication skills. Property, real estate, and community association managers must understand contracts and must be able to clearly explain the materials and answer questions raised by residents, board members, or service providers.
Customer-service skills. Property, real estate, and community association managers must provide excellent support to keep existing clients and expand their business with new ones.
Interpersonal skills. Property, real estate, and community association managers interact with different types of people every day. They must be empathetic, respectful, and patient in their dealings with others.
Listening skills. Property, real estate, and community association managers pay attention to residents and proprietors in order to understand and meet their needs.
Organizational skills. Property, real estate, and community association managers must be able to plan, coordinate, and direct multiple contractors at the same time, often for multiple properties.
Problem-solving skills. Property, real estate, and community association managers must be able to mediate disputes or legal issues between different groups of people, such as residents and board members.
Personality
| A3 | Your Strengths | Importance |
Characteristics of this Career |
|---|---|---|---|
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96% | Integrity - Job requires being honest and ethical. | |
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95% | Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations. | |
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89% | Attention to Detail - Job requires being careful about detail and thorough in completing work tasks. | |
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89% | Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high-stress situations. | |
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85% | Initiative - Job requires a willingness to take on responsibilities and challenges. | |
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84% | Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction. | |
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83% | Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace. | |
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81% | Persistence - Job requires persistence in the face of obstacles. | |
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79% | Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude. | |
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79% | Self-Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations. | |
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77% | Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks. | |
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74% | Social Orientation - Job requires preferring to work with others rather than alone, and being personally connected with others on the job. | |
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73% | Concern for Others - Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job. | |
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73% | Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems. |
| A3 | Your Strengths | Importance |
Strengths |
|---|---|---|---|
|
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100% | Enterprising - Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law. | |
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78% | Conventional - Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources. |
| A3 | Your Strengths | Importance |
Values of the Work Environment |
|---|---|---|---|
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78% | Independence - Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy. | |
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67% | Achievement - Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement. | |
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64% | Working Conditions - Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions. |
Aptitude
| A3 | Your Strengths | Importance |
Abilities | Cognitive, Physical, Personality |
|---|---|---|---|
|
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75% | Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences. | |
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75% | Written Comprehension - The ability to read and understand information and ideas presented in writing. | |
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75% | Oral Expression - The ability to communicate information and ideas in speaking so others will understand. | |
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69% | Written Expression - The ability to communicate information and ideas in writing so others will understand. | |
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66% | 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 that there is a problem. | |
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66% | Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events). | |
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66% | Speech Recognition - The ability to identify and understand the speech of another person. | |
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66% | Speech Clarity - The ability to speak clearly so others can understand you. |
Job Details
Responsibilities
Promote products, services, or programs.
Direct financial operations.
Inspect condition or functioning of facilities or equipment.
Resolve customer complaints or problems.
Manage construction activities.
Direct facility maintenance or repair activities.
Direct facility maintenance or repair activities.
Direct organizational operations, projects, or services.
Prepare financial documents, reports, or budgets.
Prepare forms or applications.
Negotiate sales or lease agreements for products or services.
Maintain operational records.
Evaluate characteristics of individuals to determine needs or eligibility.
Prepare financial documents, reports, or budgets.
Prepare operational budgets.
Evaluate employee performance.
Supervise employees.
Communicate with government agencies.
Coordinate operational activities with external stakeholders.
Promote products, services, or programs.
Analyze financial records to improve budgeting or planning.
Analyze financial records or reports to determine state of operations.
Prepare forms or applications.
Purchase materials, equipment, or other resources.
Liaise between departments or other groups to improve function or communication.
Communicate organizational information to customers or other stakeholders.
Confer with organizational members to accomplish work activities.
Communicate with government agencies.
Perform manual service or maintenance tasks.
Negotiate sales or lease agreements for products or services.
Negotiate sales or lease agreements for products or services.
Coordinate operational activities with external stakeholders.
Negotiate project specifications.
Analyze forecasting data to improve business decisions.
| A3 | Your Strengths | Importance |
Attributes & Percentage of Time Spent |
|---|---|---|---|
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99% | Telephone - How often do you have telephone conversations in this job? | |
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99% | Electronic Mail - How often do you use electronic mail in this job? | |
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96% | Face-to-Face Discussions - How often do you have to have face-to-face discussions with individuals or teams in this job? | |
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93% | Contact With Others - How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it? | |
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89% | Letters and Memos - How often does the job require written letters and memos? | |
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81% | Structured versus Unstructured Work - To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals? | |
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81% | Freedom to Make Decisions - How much decision making freedom, without supervision, does the job offer? | |
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79% | Work With Work Group or Team - How important is it to work with others in a group or team in this job? | |
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77% | Deal With External Customers - How important is it to work with external customers or the public in this job? | |
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76% | Impact of Decisions on Co-workers or Company Results - What results do your decisions usually have on other people or the image or reputation or financial resources of your employer? | |
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74% | Time Pressure - How often does this job require the worker to meet strict deadlines? | |
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74% | Frequency of Decision Making - How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization? | |
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73% | Importance of Being Exact or Accurate - How important is being very exact or highly accurate in performing this job? | |
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73% | Indoors, Environmentally Controlled - How often does this job require working indoors in environmentally controlled conditions? | |
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71% | Responsibility for Outcomes and Results - How responsible is the worker for work outcomes and results of other workers? | |
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70% | Coordinate or Lead Others - How important is it to coordinate or lead others in accomplishing work activities in this job? | |
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70% | Spend Time Sitting - How much does this job require sitting? | |
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68% | Deal With Unpleasant or Angry People - How frequently does the worker have to deal with unpleasant, angry, or discourteous individuals as part of the job requirements? | |
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66% | Level of Competition - To what extent does this job require the worker to compete or to be aware of competitive pressures? | |
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65% | Frequency of Conflict Situations - How often are there conflict situations the employee has to face in this job? | |
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90% | Duration of Typical Work Week - Number of hours typically worked in one week. |
| A3 | Your Strengths | Importance |
Tasks & Values |
|---|---|---|---|
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87% | Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems. | |
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85% | Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources. | |
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84% | Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person. | |
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80% | Working with Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information. | |
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79% | Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks. | |
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79% | Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time. | |
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78% | Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others. | |
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77% | Communicating with People Outside the Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail. | |
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76% | Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work. | |
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75% | Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job. | |
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75% | Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members. | |
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74% | Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance. | |
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70% | Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others. | |
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66% | Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others. | |
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66% | Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data. | |
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66% | Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork. | |
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65% | Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards. | |
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65% | Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money. |
What Property, Real Estate, and Community Association Managers Do
Onsite managers often show apartments.
Property, real estate, and community association managers oversee many aspects of residential, commercial, or industrial properties. They ensure that the property is well maintained, has a nice appearance, operates smoothly, and preserves its resale value.
Duties
Property, real estate, and community association managers typically do the following:
- Meet with prospective tenants or owners and show them properties
- Discuss the lease and explain the terms of occupancy or ownership
- Collect monthly fees from tenants or individual owners
- Inspect building facilities, including the grounds and equipment
- Arrange for new equipment or repairs as needed
- Pay bills or delegate bill payment for such expenditures as insurance, maintenance, payroll, and taxes
- Contract for landscaping, maintenance, trash removal, and other services
- Investigate and settle complaints, disturbances, and violations
- Keep records of rental activity and owner requests
- Prepare budgets and financial reports
- Comply with anti-discrimination laws, such as the Americans with Disabilities Act and the Federal Fair Housing Amendment Act, when advertising or leasing properties
Real estate proprietors who lack the time or expertise needed for the day-to-day management of their properties often hire a property or real estate manager or a community association manager. These managers are employed either directly by the proprietor or indirectly through a contract with a property management firm.
Property and real estate managers oversee the operation of income-producing commercial or residential properties and ensure that real estate investments achieve their expected revenues. They handle the financial operations of the property, making certain that rent is collected and that mortgages, taxes, insurance premiums, payroll, and maintenance bills are paid on time. They may oversee financial statements, and they periodically report to the proprietors on the status of the property, occupancy rates, expiration dates of leases, and other matters. When vacancies occur, these managers may advertise the property or hire a leasing agent to find a tenant. They may also suggest to the proprietors how much to charge for rent.
Community association managers work on behalf of property members in a geographic group, such as homeowners in a subdivision, to manage common areas and services of condominiums, cooperatives, and planned communities. Usually hired by a community association’s volunteer board of directors, these managers supervise the daily affairs and maintenance of its property and facilities. Like property managers, community association managers collect monthly fees, prepare financial statements and budgets, negotiate with contractors, and help to resolve complaints. Community association managers also help homeowners and non-owner residents comply with the association's rules and regulations.
The following are examples of types of property, real estate, and community association managers:
Onsite property managers are responsible for the day-to-day operation of a single property, such as an apartment complex or a shopping center. To ensure that the property is well maintained, onsite managers routinely inspect the grounds, facilities, and equipment. They meet with current residents or tenants to handle requests for repairs or to resolve complaints. They also meet with prospective residents or tenants to show vacant units. In addition, onsite managers enforce the terms of the lease and an association’s governing rules. For example, they make sure that tenants pay their rent, follow restrictions on parking or pets, and follow the correct procedures when the lease is up. Other important duties of onsite managers include keeping accurate, up-to-date records of income and expenditures from property operations and submitting regular expense reports to the senior-level property manager or proprietor.
Real estate asset managers plan and direct the purchase, sale, and development of real estate properties on behalf of businesses and investors. They focus on long-term strategic financial planning, rather than on day-to-day operations of the property. In deciding to acquire property, real estate asset managers consider several factors, such as property value, zoning, and traffic volume. After a site is selected, they negotiate contracts to buy or lease the property. Real estate asset managers review their company’s real estate holdings periodically and identify properties that are no longer financially profitable. They then negotiate the sale of the properties or arrange for the end of leases.
Work Environment
Property, real estate, and community association managers held about 429,600 jobs in 2022. The largest employers of property, real estate, and community association managers were as follows:
| Real estate | 50% |
| Self-employed workers | 38 |
| Religious, grantmaking, civic, professional, and similar organizations | 2 |
Most property, real estate, and community association managers work in an office setting. However, managers may spend much of their time away from their desks. Onsite managers, in particular, may spend a large part of their workday showing units, checking on the maintenance staff, or investigating problems reported by residents. Real estate asset managers may spend time away from home while traveling to company real estate holdings or searching for properties to buy.
Work Schedules
Most property, real estate, and community association managers work full time. Work schedules may vary; for example, they may need to respond to emergencies during off-duty hours or attend evening meetings with residents, property owners, or community association board members. Some managers are required to live onsite at the properties they manage.
Getting Started
How to Become a Property, Real Estate, or Community Association Manager
A high school diploma combined with several years of related work experience is typically required for entry-level positions.
Property, real estate, and community association managers typically need a high school diploma combined with several years of related work experience for entry-level positions. Some managers also must have a state-issued license.
Education
A high school diploma or equivalent is typically required for onsite property management positions. Employers may prefer to hire college graduates for positions in commercial management positions related to overseeing a property’s finances or contracts. Fields of degree for bachelor’s or master’s study may include business administration, accounting, finance, real estate, or public administration.
Work Experience in a Related Occupation
Property, real estate, and community association managers typically need several years of work experience in a related occupation. For example, real estate brokers and sales agents also show commercial properties to prospective tenants or buyers, and customer service representatives gain experience dealing with many types of people.
Licenses, Certifications, and Registrations
Property, real estate, and community association managers may need a license issued by the state in which they work. In most states, property managers must have a property management license or real estate broker’s license. Real estate managers who buy or sell property must have a real estate license in the state in which they practice. In some states, community association managers also need a real estate license. Managers of public housing subsidized by the federal government must hold certifications.
Many states require property, real estate, and community association managers to obtain professional credentials or licensure. Requirements vary by state, but managers working in states without requirements may still obtain designations to show competence and professionalism. For example, BOMI International, the Community Associations Institute, the Institute of Real Estate Management (IREM), the National Association of Residential Property Managers (NARPM), and the Community Association Managers International Certification Board (CAMICB) offer various designations, certifications, and professional development courses. Most states require recertification. For more information, contact your state licensing agency.
Training
Employers typically require managers to attend formal training programs available through professional and trade real estate associations. These programs may help to develop managerial skills and expand knowledge of specialized fields, such as insurance and risk management, tenant relations, and accounting and financial concepts. With related job experience, completing these programs and receiving a satisfactory score on a written exam may lead to certification or professional designation by the sponsoring association.
Advancement
Property, real estate, and community association managers who participate in professional training programs may prepare themselves for positions of increased responsibility. People may start as onsite managers of properties, such as apartment buildings, office complexes, or community associations. As they gain experience, they may advance to assistant property manager positions in which they handle a broad range of duties.
People also might begin as assistant managers, working closely with a property manager, and advance to property manager positions over time.
Property, real estate, and community association managers’ responsibilities increase as they manage more and larger properties. Property managers may oversee several properties at a time. Experienced managers may open their own property management firms.
Job Outlook
Employment of property, real estate, and community association managers is projected to grow 5 percent from 2022 to 2032, faster than the average for all occupations.
About 35,900 openings for property, real estate, and community association managers are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Employment
Employment demand will be driven by the number people living in buildings that property management companies operate, such as apartment buildings, condominiums, cooperatives, planned communities, and senior housing.
Growth in the single-family housing market may have a positive influence on demand, as some new housing developments will require property managers to oversee jointly owned common areas, such as pools, gyms, and business centers and to enforce homeowner association laws. However, the automation of some property management tasks, such as posting vacancies and assigning maintenance requests, may slow employment growth.
Contacts for More Information
For information about professional designation and certification programs for property, real estate, and community association managers, visit
Community Associations Institute
Community Association Managers International Certification Board (CAMICB)
Institute of Real Estate Management (IREM)
National Association of Residential Property Managers (NARPM)
Similar Occupations
This table shows a list of occupations with job duties that are similar to those of property, real estate, and community association managers.
| Occupation | Job Duties | Entry-Level Education | Median Annual Pay, May 2022 | |
|---|---|---|---|---|
|
Administrative Services and Facilities Managers |
Administrative services and facilities managers plan, direct, and coordinate activities that help an organization run efficiently. |
Bachelor's degree | $101,870 |
|
Food Service Managers |
Food service managers are responsible for the daily operation of restaurants or other establishments that prepare and serve food and beverages. |
High school diploma or equivalent | $61,310 |
|
Lodging Managers |
Lodging managers ensure that guests have a pleasant experience at an accommodations facility. They also plan, direct, or coordinate activities to ensure that the facility is efficient and profitable. |
High school diploma or equivalent | $61,910 |
|
Real Estate Brokers and Sales Agents |
Real estate brokers and sales agents help clients buy, sell, and rent properties. |
High school diploma or equivalent | $52,030 |