How to become a Property Manager
Property managers manage and supervise the letting of commercial, residential, industrial and retail rental properties on behalf of their owners.
Personal requirements for a Property Manager
- Good communication and negotiation skills
- Good presentation and a pleasant manner
- Able to work independently
- Excellent organisational skills and attention to detail
- Good working knowledge of the local area
Education & Training for a Property Manager
To become a property manager, you usually have to complete a nationally accredited short course or a VET qualification. As subjects and prerequisites can vary between institutions, you should contact your chosen institution for further information.You can also become a property manager through a traineeship. Entry requirements may vary, but employers generally require Year 10.
Duties & Tasks of a Property Manager
Property managers:
- Market vacant properties for lease and organise viewing sessions for prospective tenants
- Perform background checks of references, employment and rentals before selecting suitable tenants
- Negotiate lease terms and conditions and ensure that they are observed
- Collect and hold bond and rent monies from tenants
- Manage other accounts and finances such as insurance and budget requirements
- Arrange and perform regular property inspections
- Monitor property condition and arrange for maintenance or repair
- Advise on market rents and conduct rent reviews to assess the current rental price
- Represent property owners at residential tribunal hearings.
Tasks
- Assesses renters needs and locates properties and businesses for their consideration.
- Catalogues and details land, buildings and businesses for lease and arranges advertising.
- Accepts and lists properties and businesses for lease, conducts inspections, and advises renters on the merits of properties and businesses and the terms of lease.
- Collects and holds rent monies from tenants, and remits to owner on agreed basis.
- Monitors and addresses non-compliance with terms and conditions of tenancy and pursues rental arrears.
Working conditions for a Property Manager
Property managers often work irregular hours, including weekends. This occupation involves a great deal of contact with the public and with associated professionals, such as builders, plumbers and electricians.
Employment Opportunities for a Property Manager
Property managers often work in the residential sector, but are also employed by corporations and financial institutions in areas such as retail and industrial property.Employment opportunities for this occupation vary depending on the state of the real estate industry. The property market is very sensitive to the general state of the economy and factors such as government policy and interest rates.
Specializations
Property Manager
Property managers manage and supervise the letting of commercial, residential, industrial and retail rental properties on behalf of their owners.
Average age
43
Future Growth
N/A
Gender Share
67% female
Average full-time
42 hours
Weekly Pay
N/A
Skill level rating
Medium skill
Unemployment
Lower unemployment
Full-Time Share
72%
Employment Size
39,200
Employment by state
ACT: 1.7%
NSW: 31.8%
NT: 1.0%
QLD: 27.0%
SA: 5.7%
TAS: 1.5%
VIC: 20.6%
WA: 10.6%
Age brackets
15-19: 1%
20-24: 9.1%
25-34: 24.5%
35-44: 20%
45-54: 20%
55-59: 9.2%
60-64: 7%
65 and Over: 9.2%
Education level
Advanced Diploma/Diploma: 18.8%
Bachelor degree: 18.5%
Certificate III/IV: 22%
Post Graduate/Graduate Diploma or Graduate Certificate: 6.6%
Year 10 and below: 9.5%
Year 11: 4.4%
Year 12: 20.2%
