The Property Management industry has thousands of potential job opportunities, employs over 1 million professionals and is fast becoming a career of choice of professionals of all ages. In the past, property management has not had a defined career path at local colleges. They have been referred to the industry by a friend, family member or recruiter. Now, that’s definitely changed. Many colleges are offering Property Management courses and degrees and the industry now even has dedicated websites to help you further your career in property management.
Approximately 35% of U.S. households are renter households. It is predicted that over the next decade the number of renter households is likely to rise by 360,000 to 470,000 annually. The apartment industry will need to continue to hire new employees at a rapid pace. What does this mean for you? People work in this business, our employees have security like no other industry can offer. The jobs cannot be shipped abroad.
I started back in the late 1980s doing part-time leasing on the weekends on a property. I loved the fast pace of the office, helping prospective residents find new homes, and planning social events. I also made incredible leasing and renewal bonuses. I found this industry was one I thrived in and climbed the ladder quickly. Having done everything from Leasing Consultant, Corporate Marketing Director, Assistant Manager, Property Manager and Regional Manager I’ve learned so much! I can do everything from prepare budgets, order parts for repairs, do landscaping contracts, change pool filters, prepare lease documents, manage large staffs, train new employees and manage a multi-million dollar investment.
Positions available in this fast paced exciting industry for those that love customer service and office environments are Receptionists, Concierges, Greeters, Leasing Consultants, Leasing Managers, Bookkeepers, Assistant Managers, Marketing Representatives, Marketing Managers and Property Managers. The annual salary range for Leasing Consultants starts at $26,500 for entry level to $48.000 for experienced individuals. You can fast track to a Community Manager and the annual base salary range is $37,500 to $49,100 for entry level and $49,100 to $76,700 for experienced individuals. A Regional Property Manager range is $89,400 to $116,000. These comp packages can include salary, leasing and renewal bonuses, 401k, medical, dental, vision, life, apartment discounts and more. (Salaries taken from 2013 CEL & Associates Real Estate Compensation Survey) and may vary from region to region.
For those skilled tradesman, the industry and those that love the outdoors there are positions with wide ranges of responsibilities such as Groundskeepers, Porters, Make Ready or Turn Techs, Maintenance Techs, Service Managers, Maintenance Supervisors and Regional Maintenance Supervisors. The annual salary range for Maintenance Technicians starts at $30,200 to $36,200 for entry level to $36,200 to $54,000 for experienced individuals. A Regional Supervisor range is $66,800 to $90,900 depending on position and region. These packages can also include salary, leasing and renewal bonuses, service bonuses, 401k, medical, dental, vision, life, car allowances, mileage, apartment discounts and more. (Salaries taken from 2013 CEL & Associates Real Estate Compensation Survey) and may vary from region to region.
The Property Management industry also has many local associations and affiliations you can be a part of so you can network with others in the industry. The National Apartment Association is a wonderful place to start your career path within the industry. They can put you in touch with the local associations and there are always job postings on those local affiliation websites as well. The NAA has certification programs such as NALP (National Apartment Leasing Professional), CAMT (Certified Apartment Maintenance Technician), CAM (Certified Apartment Manager) and CAPS (Certified Apartment Property Supervisor) which can help launch you into your career.
*Some data above compiled from The National Apartment Association. www.naahq.org
By: Jennifer Mason, CAPS, CAM, and Branch Manager for the Liberty Group