Most enter the occupation as on-site managers of apartment complexes, condominiums, or community associations, or as assistant managers at large property management firms. Opportunities should be best for those with college degrees in business administration or related fields. Almost one half were self-employed, three times the average for all executive, administrative, and managerial occupations.
Many people own some type of real estate, such as a house.
To businesses and investors, however, properly managed real estate is a potential source of income and profits rather than a place of shelter. Property, real estate, and community association managers maintain and increase the value of real estate investments for investors. The manager is either directly employed by the owner or indirectly employed through a contract with a property management firm. Property managers handle the financial operations of the property, insuring that mortgages, taxes, insurance premiums, payroll, and maintenance bills are paid on time. Some property managers, called asset property managers, supervise the preparation of financial statements and periodically report to the owners on the status of the property, occupancy rates, dates of lease expirations, and other matters.