Beginning a career in property management can be a rewarding and dynamic professional journey. Whether you’re interested in managing residential properties or commercial spaces, this field offers a variety of opportunities to make a meaningful impact on entire communities.
If you’re considering this career path — especially if you want to make a difference in the affordable housing industry — it’s important to understand the responsibilities and skills required. Let’s dive into what it takes to succeed in residential property management.
What Does a Residential Property Manager Do?
Residential Property Manager Job Description
Residential property managers are responsible for the overall operation and management of rental properties, including single-family homes, apartment complexes, condominiums, and other forms of housing. Naturally, residential property management jobs encompass all major aspects of rental operations, including:
- Tenant relations. This entails addressing tenant inquiries, handling complaints, and ensuring tenant satisfaction.
- Maintenance. This requires coordinating repairs and maintenance to ensure properties and units are in excellent condition.
- Financial management. Managers balance budgets, collect rent, and prepare financial reports.
- Marketing and leasing. They are also responsible for promoting available properties, showing units, and signing leases.
- Compliance. Managers must ensure that their properties and operations comply with local, state, and federal regulations.
Generally speaking, property management professionals play a crucial role in maintaining the profitability and efficiency of properties, making their role vital to the real estate industry.
Making a Difference in Affordable Housing
In the context of affordable housing, these professionals have the unique opportunity to strengthen their communities and local economies by:
- Providing safe housing. This means ensuring properties are safe and habitable for low-income families, both in general and in compliance with state and local laws.
- Supporting tenants. Managers can and should assist tenants in procuring the social services and resources that will help them succeed, both as renters and as members of the community. Sometimes this can be as simple as building, curating, and sharing a directory of local human services organizations.
- Maintaining affordability. This involves keeping rental prices affordable, in part by keeping overhead costs within budget parameters.
By treating tenants fairly and supporting their success as community members, property managers in affordable housing are instrumental in fostering stable, healthy communities.
The Skills You’ll Need for a Career in Property Management
Careers in this field require a diverse skill set. Here are some key items on the property manager skills list:
- Communication skills. Effective communication and related soft skills are essential for interacting with tenants, owners, and third-party service providers. Property managers must be able to listen to tenant concerns and convey information clearly in order to build trust and prevent or resolve conflicts.
- Organizational skills. Property managers must often handle multiple tasks simultaneously, such as scheduling maintenance, managing budgets, and coordinating leasing activities. Staying organized helps ensure nothing falls through the cracks.
- Financial acumen. Understanding financial statements, managing budgets, and controlling costs are crucial for maintaining the profitability of properties for investors and for success in property management as a whole.
- Problem-solving skills. Property managers often face unexpected challenges, from maintenance emergencies to tenant disputes. The ability to think on your feet and find fair, workable, efficient, and affordable solutions is vital.
- Customer service skills. Providing excellent customer service to tenants can improve tenant satisfaction, retention, and behavior.
- Attention to detail. Property managers must pay attention to the details, from lease agreements to property inspections, to ensure compliance and prevent conflicts or problems. A meticulous eagle eye for detail can prevent costly mistakes and ensure smooth operations.
How to Start a Career in Property Management
If you’re planning to enter the property management field, some training and certifications can be immensely beneficial. To get started, seek out the following:
- Networking opportunities. Join professional associations such as the National Association of Residential Property Managers (NARPM) to connect with industry professionals and stay updated on industry trends. This is a great way to learn from experienced property managers and find job opportunities.
- On-the-job training. Consider seeking out hands-on experience through job shadowing, internships, or residential property-related positions. This can be invaluable for understanding the day-to-day responsibilities of the role and boosting your attractiveness to potential employers.
- Educational or training programs. Enroll in property management courses offered by community colleges, vocational schools, or community career centers. These programs cover essential topics like management operations, tenant relations, general real estate and fair housing laws, and building maintenance.
- Certifications. Identify and obtain industry certifications, such as the Certified Property Manager (CPM) or Residential Management Professional (RMP). Other important certifications — such as in fair housing, CPR/AED, Mental Health First Aid, and Naloxone Administration — can help you with specific aspects of your job. Earning these credentials demonstrates a commitment to the profession and mastery of valuable industry knowledge, improving your job prospects.
Starting a career in property management requires a mix of formal education, certifications, practical experience, and essential skills. By understanding the role and seeking out the right training, you can qualify for a fulfilling career that makes a lasting positive impact on communities. You can get this training at low or no cost through community career centers and nonprofit organizations that offer career support.
Get FREE Property Management Training With JobTrain
You can get the training you need to navigate life better and qualify for careers in property maintenance. If you live near Silicon Valley in Northern California, you can contact JobTrain to enroll in our no-cost Property Management Program. You’ll learn important skills needed for entry-level property management positions in the affordable housing industry. This hybrid course includes in-person, online, and site visit opportunities. Students can qualify to earn certificates in Mental Health First Aid, Naloxone Administration, CPR/AED, and Customer Service and Fair Housing skills badges.
You can also put your best foot forward with our job search tips and workshops.
JobTrain is an accredited educational and training institution that transforms lives and communities in Silicon Valley. We help people reclaim their lives by preparing them for successful, sustainable careers in high-demand and emerging fields.
Each of JobTrain’s programs combines vocational training, academics, and essential skills development, preparing students to turn their lives around — from unemployment to success and self-sufficiency. Contact us today to learn more!