They might be responsible for advertising and renting the apartments, collecting rents, handling routine tenant problems, handling security, managing the maintenance of the complex, and maintaining budget and expense reports. A good resident manager has good organizational skills and good people skills. Property managers typically spend a large amount of time on the premises of the properties that they manage. Higher level managers must also find the time for financial planning and administration. There are also regional managers who oversee the operations of numerous properties and report directly to investors.
Most states require that property managers hold real estate licenses.
This job is personally rewarding and allows you to really learn the real estate markets should you wish to embark in business on your own. The 1994 Occupational Outlook Handbook sees a bright future for property managers and says that the market will increasingly call for persons with a degree in business. The office building market, in particular, is expected to boom between 1995 and 2005 due to growth in the service sector of the economy. Real Estate Advisory Institutional investors are purchasing real estate more and more. But real estate is not like a stock or bond that you can buy and put in a vault.