The property management industry has been steadily expanding since 2017. Managing properties can provide several opportunities for professional and financial growth. Becoming a property manager is a great career opportunity for individuals who are self-driven, well-organized, and have a real passion for working with people in a wide range of industries and backgrounds. The requirements to become a property manager can vary depending on your location. However, becoming a property manager often involves the same basic requirements.
Before jumping into the requirements to become a property manager, it is beneficial to understand what a property manager is and what they do. A property manager takes on the important role of operating and maintaining a wide range of different types of properties for an investor who owns the property. The tasks will vary depending on the needs of the investor. In many instances, the tasks involve ensuring the property is well maintained, that vacancies are filled, and that rent is paid in full and on-time. The typical responsibilities of a property manager include:
The tasks assigned to a property manager extend from what is listed depending on the property’s unique needs. Knowing what is required and commonly expected of a property manager can help an individual better understand what it takes to become a property manager.
The requirements to become a property manager can vary depending on the state to which you are applying, as well as the hiring company. In the United States, six states have no licensing requirements. However, there is still a minimum standard and specific training that is necessary for those interested in meeting the requirements to become a property manager.
One of the most fundamental minimums required to become a property manager includes being at least 18-21, depending on the state in which you intend to work. It is also required to have a high school diploma or an equivalent GED, and to be a legal US citizen or permanent resident. Some basic requirements involve real estate license coursework and a passing score on a real estate licensing examination if required by state law.
Knowing the basic requirements to become a property manager can help an individual discern if this career pathway may be right for them and understanding the state requirements to become a property manager based on the area in which you intend to seek employment is necessary. In addition to legal requirements to become a property manager, there are also skill sets to consider as unofficial requirements.
Before committing to the coursework and time needed to become a property manager, it helps to consider if you have the skills required. These skills include:
The most basic educational requirement to become a property manager is to have a high-school diploma or a GED equivalent. However, many property investment and maintenance firms require some level of undergraduate studies as well. Common fields that are pursued by property managers include:
The education requirements to become a property manager will vary. It helps to explore what some of the top firms in your area require of their property managers. This way, you know what to aim for to set you apart.
There are different licensing and certification requirements to become a property manager. These requirements to become a property manager can vary depending on your state, and the company you work for. Licensing requirements to become a property manager are at a state level. Certification requirements to become a property manager relate to national real estate or property management accreditations. Common property manager certificates include:
Understanding the requirements of a property manager is beneficial for both investors and those interested in getting into the property management field. It is important to meet the requirements of a property manager to achieve the best success possible. Home365 helps property investors find the perfect property management options for any size property.