Real estate is valuable asset to possess, but time-consuming to maintain. Businesses, homeowners, and housing cooperatives understand this, and that is why they employ real estate managers to take care of property for them. Third-party, on-site property managers are in charge of apartment complexes, homes, or retail space in lieu of their owners who can't or do not want to deal with the day-to-day logistics of the property. These on-site managers arrange contracts with lessors, collect rent, advertise the property when it is vacant, and see that any necessary repairs are done. Other property managers take care of grounds for community associations, ensuring that communally used facilities and grounds are kept in order and that community rules are enforced. Another subset of real estate managers actually buy and sell properties for their clients; they work to negotiate a reasonable sale or purchase and to obtain necessary permits.
There are several ways to begin a career as a real estate manager, but the most direct is to pursue a bachelor’s or master’s degree in business, real estate, accounting, or a related field. Property managers should be familiar with finance principles, marketing, accounting, and communications. Real estate asset managers and any manager that buys or sells real estate will need a state-issued license. These are earned after passing an exam.
The overall job growth for real estate managers is predicted to be about average during the next few years. General population growth will fuel the demand for more managers in housing and retail facilities. Job prospects will be especially good in facilities that cater to the growing U.S. elderly population. The middle half of real estate managers earn $32,000-69,000 a year.
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