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What is Property Management?
Property management is the area of employment that deals with the management of buildings and land, maintaining those properties by ensuring they are up to code, tended to, and collected upon in a timely fashion. Property managers are hired to take care of a person’s assets when he or she is physically unable to do so himself. In addition to residential properties, a property manager can scale services to take care of commercial and industrial properties using a similar set of transferable skills.
Students who earn a certificate or degree in property management online can continue into a number of careers. Vocational options include the following: project manager, property manager, building maintenance technician, building director, grounds manager, maintenance supervisor, facility operations manager, security manager, personnel management, and project estimator.
Degrees in Property Management
Earning a degree or certificate in property management can be a solid vocational choice for those considering a career in real estate. Property managers are a key component to successfully managing residential and commercial properties. As such, accredited colleges and universities across the country offer programs for students in the field of study. Programs for property managers include certificate programs and degree programs. Below you will find a summary of each program type along with a seamless opportunity to connect with accredited schools in a single portal.
Certificate Programs in Property Management
An online certificate program in property management is an intensive program intended to provide students with foundational principles in the trade. Undergraduate certificate programs will vary in length from a few months to a year depending on the curricular design of the program. Courses essential to the success of a property manager include real estate basics, accounting, communications, finance, building equipment, computer software applications, HVAC, plumbing basics, essentials of electricity, ethics, law, management basics, and local/state building codes.
Associate Degrees in Property Management
Associate degrees in property management are conferred as Associate of Arts (AA) at most colleges. AA degree programs will last 2-years for full-time students and longer for part-time students depending on course load and program pace. The associate degree program blends liberal arts courses such as communications, math, history, psychology, creative writing, and philosophy with core classes. The core classes will vary from college to college but will cover essentials in property management. Foundational classes in property management include real estate, ethics, accounting, law, finance, management, project management, computer essentials, and repair basics. Students earning an AA will be equipped to launch careers in residential and/or commercial property management positions in a variety of industries. Sectors of property management can include residential, hospitals, clinics, hotels, educational centers, processing plants, manufacturing, and industrial centers.
Education and Schools
Individuals in looking to receive an education in this field typically pursue a bachelor’s degree, as required by most employers. Individuals will learn about the various tasks and responsibilities associated with managing properties, particularly large properties or groups, what constitutes legal behavior, financial concerns and otherwise. Students will also learn about standard business practices, contract obligations, building codes and management techniques.
A curriculum may include:
- Real Estate
- Management Methods
- Property Upkeep
- Finance and Budgeting
- Business Administration
Schools typically offer this degree through their business administration department, as such, a review of the business department of a given school will reveal the quality of the education one may receive. Individuals should seek out programs that continually update their education, particularly in the areas of law, standards and new practices, and should contact potential schools in order to determine if they do.
Schools Other Students Requested Information From:
Building managers may work through offices if they manage large or several properties, or on site if they manage singular or smaller properties. Job growth in this field is expected to increase significantly over the next decade as reliance on trustworthy and competent individuals to perform duties related to the proper function and allocation of funds from property investments increases. Depending on the type of agreement in place, individuals may have more or fewer responsibilities when it comes to the management and financial well being of a given property.
Top Job Responsibilities of a Property Manager
In a recent survey by the U.S. Department of Labor, a significant number of property managers provided insight into their jobs. The survey included professionals from around the country with details about their daily duties. A list of the top job duties of a property manager include:
- Inspecting facilities, grounds, and equipment regularly to ascertain the need for repair or maintenance
- Managing the operations, maintenance, and administration of residential, commercial, or industrial properties
- Acting as a liaison between on-site managers, tenants, and owners
- Disbursing payments to pay for insurance premiums, mortgage, taxes, and incurred operating expenses by facility
- Project management of maintenance, repairs, and/or remodeling of residential and commercial properties
- Collecting monthly assessment dues, rental fees, and deposits on behalf of the property owner or developer
Organizations such as the National Association of Residential Property Managers provide resources and services for professional in this industry.