Real estate investments present a tremendous opportunity for profit, but only for those with the time and money required to get involved. Since most investors have the money, but few have the time, working as a property manager can be a simple way to help the rich get richer, while making a living. The following are perks for property managers.
1. All of the Reward, Without Risks
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It is so simple; pretty much anyone can figure it out.
Investing in real estate can be a risky endeavor. Since neighborhoods and property values frequently change, there is no guarantee of a return on investments. Working as a property manager adds stability to an otherwise unstable industry. Because property managers are paid for work, and not for the value of the land, their paycheck is unaffected by long-term property value outlooks.
While the owners of the investment properties must be constantly evaluating whether or not they should sell their land, or hold out for a few more years, property managers can enjoy the freedom of not paying attention to any of that, and just cash a monthly check.
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2. All of the Experience, Without Risks
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These suckers had to buy the house to learn about it.
Not only is real estate a risky investment, but also a confusing one. So much of real estate success is dependent upon luck or experience, that if you don?t have any of the first, it will be impossible to get any of the second. Working as a property manager is a great way to be immersed and involved in the real estate scene, without having to worry about losing your shirt.
People who are interested in learning about real estate, with the intention of one day investing, will receive no better training than by working as a property manager. This experience will educate them as to the dos and don’ts of real estate, without requiring a fortune to be laid on the line.
3. Non-Traditional Work Hours
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You can work at night.
Property managers are essentially always on-call. Their hours fluctuate, ranging from incredibly busy 11-hour day to had to shovel at 9 AM, and then drank wine all day. This non-traditional schedule is in-and?of-itself the biggest perk and drawback of the job.
While property managers are slaves to the unexpected, they also reap the rewards of time off when things run smoothly. For those looking for steady work that allows them freedom to participate in Wednesday afternoon softball league, property management is the perfect profession.
4. Independent Work
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This is the company handbook.
Another perk of being a property manager is the unstructured nature of the job. While a majority of Americans have to deal with supervisors, property managers most often deal with tenants, which makes for a less repetitive work environment.
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This desk is not your problem.
With tasks and problems that change daily, as well as surroundings that could vary from hour-to-hour, property managers are forced to be an independent breed. For those who hate the stagnant feeling of working in an office, and who also happen to be excellent with a pipe wrench and electrical tape, working as a property manager provides unparalleled freedom and independence.
5. Paid Relative to Workload
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You will not make this much money.
Perhaps the biggest perk of working as a property manager is that the pay is relative to workload, meaning the less lazy the manager, the more bank they make. Property managers often charge percentages of the monthly rent (somewhere between 6-10%) as their fee for building upkeep, tenant management, and vacancy avoidance.
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Because of this, the more buildings a property manager can handle, the more money they stand to make. Property managers are therefore extremely motivated to get work done quickly and efficiently. Though this job would be less than ideal for those who aren’t self-motivated, it is perfect for those who like to get paid more when they work more.
Although working as a property manager is not ideal for everyone, there are many people who make an excellent and enjoyable living doing so. Anyone who is exceptionally handy, good with people, and not afraid of non-traditional aspects of a career, is able to enjoy these perks in no time at all.