A Property management agents, also known as property managers, are hired by owners or landlords of income-producing properties to run the day to day requirements of their real estate. Agents, or managers, are capable of overseeing a wide range of projects including residential investment properties, commercial buildings or complexes, and land development projects. With over 329,000 property, real estate, and community association managers in the U.S. in 2006 and faster than average growth expected by the Bureau of Labor Statistics,1 property management agents will continue to be in high demand.
A property management agent is responsible for maximizing the value and income of an investment property. Regular duties might include some or all of the following: advertising and marketing available space; collection of rent and updating financials; execution and extension of leases; enforcement of lease terms and building rules; overseeing repair and maintenance schedules; and regular and timely communication with current tenants. Agents might also be responsible for tasks like generating financial reports, extended rental and lease services, and property market analysis. As a liaison for landlords or property owners, agents should be licensed if the state requires it, and aware of all local, state and federal regulations and building codes.
Property management agents benefit from college degrees in property management, business administration, real estate or other related fields,2 and further from recognized professional designations. With employment in this and related fields expected to grow up to 15% by 2016,3 property management remains a robust and dynamic industry.