The field of real estate has created thousands of jobs over the years and the job of a commercial property manager is one of them. This story has been written to explain to you clearly how you too can become one.
Real estate is one of the fastest growing and dynamic sector of the economy. The growing incomes of people have a direct positive effect on the realty sector with the demand for housing rising steadily.
Employment in the realty sector is considered to be lucrative and there are many managerial jobs like that of a commercial property manager that can pay you exceedingly well. Let us see what this profile entails and also how to become one.
Job Description of a Commercial Property Manager
The job profile of a commercial property manager involves taking care of the properties of their clients and ensuring that they do not face any kind of damage.
Property managers have to undertake repair and renovation work by taking into confidence. their clients and after holding meetings with them about how the entire procedure will be done.
Property managers also collect rent if the property owner has rented out the space for commercial use. They also keep property papers safely and take legal consultation as and when required.
There are clients who expect property managers to pay property taxes and keep records of bills. Though these are the basic duties, they also engage in providing consultation services and giving advice on property buy.
Since they have knowledge of the various trends in the real estate market, they can serve as perfect guides for high budget clients wishing to invest in real estate. The next paragraph shall help you know how to become a successful commercial property manager.
Becoming a Property Manager
Plan for this career form high school itself. Take subjects such as geometry, algebra, English and Physics in high school.
Obtain a graduation degree from a reputed university college in the fields like real estate management, property management or finance.
A master's degree in the above fields or in business management can enhance your prospects of getting a good placement.
Participate in your university's placement programs and seek guidance from seniors and teachers for interview and rest selection process.
License is necessary at almost all states to act as a commercial property manager. So, clearing licensing exam from the state authority is a must.
The salaries largely depend on the condition of the real estate market, type of organization one works for, educational qualifications, skills and several years of experience in the industry. Since the real estate market is fluctuating, there can be ups and downs in the career of a commercial property manager. However, this is a good career option for those who are willing to work hard and learn at every stage of their career.
The average salary of a property manager is around $58,000 per year. However, the entry-level salaries can be between $30,000 to $40,000 per year. Highly experienced managers can draw between $50,000 to $126,000 per year.
These managers can get attractive bonuses and perks for good performance apart from the fixed salary package. Self-employed commercial property managers earn the most and their earnings can be in excess of $120,000 per year.
This story has cleared all your queries about becoming a commercial property manager. If you are interested in this career you should make it a point to stay in touch with the realty sector and be aware of the happenings. Doing internships under an experienced property managers can help to successfully launch your career. Good luck and give it a try!