The property manager is the professional who meets with potential clients to show them the office space. In your role, you might be in charge of actually marketing the vacant spaces, or you’ll work closely with the marketing team to fill the offices. However, your main role will be to execute the lease contracts, provide background and credit checks on prospective tenants, and then record and file the contracts. Tenants might pay you their monthly rent or send it directly to the owners of the building.
Maintenance
It’s up to the property manager to oversee all the maintenance in the building. You’ll also respond to tenants’ requests for service or repairs. You might supervise full-time cleaning and maintenance crews or hire out the work to subcontractors who report to you. You’ll oversee the interior and exterior of the building as well. In this capacity, you’ll oversee landscaping and painting, electrical and plumbing systems, windows, doors, elevators and floors. You’ll most likely inspect the property on a regular basis and make recommendations to the owners for repairs and upgrades as you see fit.
Financials
In addition to collecting rent, the property manager is in charge of maintaining the books for the building. You’ll most likely have to meet budgets that include salaries for your maintenance crews and payments to outside contractors. You’ll monitor all the accounts that pertain to the running of the building and be responsible for instituting collection procedures on late-paying tenants. You’ll be the one to collect bids from contractors and negotiate those contracts.
Advancement
Although many employers prefer to hire college graduates as commercial property managers, some will accept a high school diploma or equivalent. Larger firms often require a four-year bachelor’s degree in real estate management, finance or business administration. An MBA could increase your chances of advancement in larger investment and property management companies. Realtors often provide property management services as well. In this capacity, you’ll need a real estate license to represent buyers and sellers of properties in their negotiations. Certifications from your state real estate association, or through a national group such as the Institute of Real Estate Management, also can help advance your career.
by Linda Ray, Demand Media
