Career Detail


Property, Real Estate, and Community Association M
Property managers negotiate contracts for janitorial, security, groundskeeping, trash removal, and other services.
The Job
Generally, property and real estate managers handle the financial operations of the property, ensuring that rent is collected and that mortgages, taxes, insurance premiums, payroll, and maintenance bills are paid on time. In community associations, homeowners pay no rent and pay their own real estate taxes and mortgages, but community association managers collect association dues. Some property managers, usually senior-level property managers, supervise the preparation of financial statements and periodically report to the owners on the status of the property, occupancy rates, expiration dates of leases, and other matters.
Work Environment
The offices of most property, real estate, and community association managers are clean, modern, and well lighted. However, many managers spend a major portion of their time away from their desks.
College Majors
business administration, accounting, finance, or real estate
Minimum Qualifications
Employers increasingly are hiring college graduates with a bachelor's or master's degree in business administration, accounting, finance, or real estate, even if they don't have much practical experience.
Personality traits helpful for this career
Good speaking, writing, computer, and financial skills, as well as an ability to deal tactfully with people, are essential in all areas of property management.
Quick Facts
  • Opportunities should be best for those with college degrees in business administration, real estate, or related fields, and with professional designations.
  • Particularly good opportunities are expected for those with experience managing housing for older people or with experience running a health unit.
  • More than half of property, real estate, and community association managers are self-employed.
Compensation and Outlook
Median annual wages of salaried property, real estate, and community association managers were $46,130 in May 2008. The middle 50 percent earned between $31,730 and $68,770 a year. The lowest 10 percent earned less than $21,860, and the highest 10 percent earned more than $102,250 a year.
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Job Growth Outlook
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