Property management provides a wealth of opportunities for those looking for a rewarding, challenging, and lucrative career in real estate. Candidates looking for property management jobs should be aware of the basic structure of many property management firms as well as the skill sets that these firms seek in their employees.
Leasing (sales), administration, and management are the three main areas where property management jobs can be found. While most on-site property management staff can lease apartments, leasing is usually handled by a leasing consultant. To be a successful leasing consultant, one must be knowledgeable and comfortable with all aspects of the sales process, including speaking with clients over the phone, meeting with them in person, and following up until the sale is completed.
The majority of a leasing consultant’s day is spent on the phone talking to potential customers. As a result, the consultant’s ability to communicate over the phone is critical. Surprisingly, this is the one area where the majority of leasing consultants struggle. This means that those who excel at the telephone may have a significant competitive advantage.
It takes more than being able to politely answer a customer’s questions to be good on the phone. A successful leasing agent is one who is not afraid of the phone and is willing to take inbound and outbound calls from customers and potential customers. Leasing agents should also be able to persuade customers of the community’s benefits and set up appointments for clients to tour the property over the phone on a regular basis.
Because the leasing agent is essentially a sales position, it is critical that agents have strong sales and interpersonal skills. Agents must be able to communicate with, relate to, and connect with a diverse group of people. They must be able to provide customers with useful and relevant information and must not be afraid to close the sale.
Administrative property management positions are frequently the next step up from leasing. The assistant manager, bookkeeper, or community administrator are usually in charge of the property’s administrative functions. Rent is collected, balance due and credit statements are sent out, the statement of deposit accounting (SODA) for residents who have moved out is processed, the eviction process is overseen, resident lease violations are addressed, and basic to advanced accounting tasks are performed by those in administrative positions.
Administrative property management jobs require people who are detail-oriented, consistent, tenacious, and have good time management and organizational skills. Administrators must also be able to handle and diffuse any sensitive, difficult, or disruptive situations that may arise. Regrettably, the administrator’s job frequently requires them to deal with people at their worst.
A property manager should have skills in both leasing and administrative areas, as well as leadership, coaching, and management abilities. A property manager with prior experience in the industry is also preferred by most companies. As a result, anyone interested in becoming a property manager should expect to start as a leasing consultant and work their way up.