### Bureau of Labor Statistics U.S. Bureau of Labor Statistics

Property, Real Estate, and Community Association Managers Summary
                        
            
                                                        
                                                                
                        
            
            
            
                            
                                                
                                                
                                                
                                                
            						
							
				                                                
                                            




            			property real estate and community association managers imageLicensed real estate managers may show, lease, or sell properties to clients.							
						Quick Facts:     Property, Real Estate, and Community Association Managers2023     Median Pay
            						$62,850     per year
										$30.22     per hourTypical Entry-Level Education
                                    High school diploma or equivalentWork Experience in a Related Occupation
                                    Less than 5 yearsOn-the-job Training
                                    Short-term on-the-job trainingNumber of Jobs, 2022
                                    429,600Job Outlook, 2022-32
                                    5% (Faster than average)Employment Change, 2022-32
                                    23,400What Property, Real Estate, and Community Association Managers Do
                                                
                        
                        
Property, real estate, and community association managers oversee many aspects of residential, commercial, or industrial properties.
            
                        Work Environment
                        
Most property, real estate, and community association managers work full time. They usually work in an office setting but may spend part of their workday on tasks away from the office, such as showing apartments, inspecting the grounds, or meeting with owners.
            
                                                How to Become a Property, Real Estate, or Community Association Manager
                                                
                        
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, although employers may prefer to hire college graduates. Some managers also must have a state-issued license.
            
                        Pay
                        												                            																				    														The median annual wage for property, real estate, and community association managers was $62,850 in May 2023.									                                					
						
            
                        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.
						State & Area Data
                       Explore resources for employment and wages by state and area for property, real estate, and community association managers.
            
            
						
                        Similar Occupations
                        
                                                    Compare the job duties, education, job growth, and pay of property, real estate, and community association managers with similar occupations.
            
            
                        More Information, Including Links to O*NET
                        
                                               
                        Learn more about property, real estate, and community association managers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
 What Property, Real Estate, and Community Association Managers Do 
            

			Property and community association managersOnsite 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 propertiesReal 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 and community association managersProperty, real estate, and community association managers must interact with clients every day.			

	    
				
	
	
	
	
	
	
	    					 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
                38Religious, grantmaking, civic, professional, and similar organizations
                2Most 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.
 How to Become a Property, Real Estate, or Community Association Manager

			Property and community association managersA 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.
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.
 Pay

			



	
 
                                                     
            
    
                Property, Real Estate, and Community Association ManagersMedian annual wages, May 2023Other management occupations$102,510  Property, real estate, and community association managers$62,850  Total, all occupations$48,060Note: All Occupations includes all occupations in the U.S. Economy.Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics
 

	
	



		
	
	
	
The median annual wage for property, real estate, and community association managers was $62,850 in May 2023. 


The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $37,540, and the highest 10 percent earned more than $135,990.





		
	    					 In May 2023, the median annual wages for property, real estate, and community association managers in the top industries in which they worked were as follows:	
        Religious, grantmaking, civic, professional, and similar organizations
                $63,670Real estate
                61,480Most 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.
 Job Outlook

   
        
    
          
        
    
               Property, Real Estate, and Community Association ManagersPercent change in employment, projected 2022-32Other management occupations5%  Property, real estate, and community association managers5%  Total, all occupations3%Note: All Occupations includes all occupations in the U.S. Economy.Source: U.S. Bureau of Labor Statistics, Employment Projections program
            
            
			 
	
	
	

			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.
			

                        Employment projections data for     property, real estate, and community association managers, 2022-32
                Occupational Title
                        SOC Code
                        Employment, 2022
                        Projected Employment, 2032
                        Change, 2022-32
                        Employment by IndustryPercent
                        NumericSOURCE: U.S. Bureau of Labor Statistics, Employment Projections program**Property, real estate, and community association managers**
			11-9141
			429,600
			453,000
			5
			23,400
			Get data
 State & Area Data **Occupational Employment and Wage Statistics (OEWS)** The Occupational Employment and Wage Statistics (OEWS) program produces employment and wage estimates annually for over 800 occupations. These estimates are available for the nation as a whole, for individual states, and for metropolitan and nonmetropolitan areas. The link(s) below go to OES data maps for employment and wages by state and area. Property, real estate, and community association managers **Projections Central** Occupational employment projections are developed for all states by Labor Market Information (LMI) or individual state Employment Projections offices. All state projections data are available at www.projectionscentral.com. Information on this site allows projected employment growth for an occupation to be compared among states or to be compared within one state. In addition, states may produce projections for areas; there are links to each state’s websites where these data may be retrieved. **CareerOneStop** CareerOneStop includes hundreds of occupational profiles with data available by state and metro area. There are links in the left-hand side menu to compare occupational employment by state and occupational wages by local area or metro area. There is also a salary info tool to search for wages by zip code.
 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
                2023     MEDIAN PAY**Administrative Services and Facilities Managers**
            Administrative services and facilities managers plan, direct, and coordinate activities that help an organization run efficiently.
            Bachelor's degree
            $104,900**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
            $63,060**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
            $65,360**Real Estate Brokers and Sales Agents**
            Real estate brokers and sales agents help clients buy, sell, and rent properties.
            High school diploma or equivalent
            $56,620
 Contacts for More Information
								
For information about professional designation and certification programs for property, real estate, and community association managers, visit
BOMI International
Community Associations Institute
Community Association Managers International Certification Board (CAMICB)
Institute of Real Estate Management (IREM)
National Association of Residential Property Managers (NARPM)

                                                
                                                        
                                                                                                    O*NET
                                        Property, Real Estate, and Community Association Managers
 Suggested citation: Bureau of Labor Statistics, U.S.  Department of Labor, Occupational Outlook Handbook, Property, Real Estate, and Community Association Managers, 
        	 at https://www.bls.gov/ooh/management/property-real-estate-and-community-association-managers.htm (visited *May 21, 2024*).
 **Last Modified Date:**
                        Wednesday, April 17, 2024


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