Practical Aspects of Residential Property Management
Many real estate agents get involved with property management duties unexpectedly such as when a client purchases a new investment property and turns to them for assistance in management and upkeep. Others get into the field as an opportunity for a second stream of income.
What ever the reason, this 22.5 course provides real estate agents with a useful introduction to the field by providing them with the information they need to become successful property managers.
Take this course to help you further your knowledge and your career, all while earning a stable side income; or to lead you into a new property management career. You’ll gain a comprehensive picture of
The salary for a Property Manager working in New York City averages
at up to $123,867 a year according to recent data1, for full-time professionals.
the whole real estate process as you learn the practical aspects of residential property management.
A Property Manager is responsible for the maintenance of a portfolio of properties, whether they be residential, commercial, or industrial. The main functions of a Property Manager are related to the buying, selling, and leasing of properties within the portfolio.
As related to these tasks, a Property Manager helps to find and qualify tenants and collect rents. Essentially, managers handle the any daily operations related to selling, buying and leasing an investment property on behalf of the property owner. These duties also include dealing with tenant complaints, handling lease agreements, adjusting rent prices, and initiating evictions.
Those who have prior real estate experience are especially valued, as owners seek to hire professionals who know the business firsthand.
Successful Property Managers then have the potential to diversify their duties to work on the more technical side of Property Management, in Facilities Management. On the facilities side, the duties err more on the side of arranging maintenance duties: plumbing, heating and cooling, painting, plastering along with electrical servicing. This is also highly important work to the success of an investment property and therefore most full-time Facilities Managers can make up to an average of $198,099 yearly.
Many real estate agents also choose Property Management because they are seeking a more predictable income stream. Property Management, while still performance-based is something real estate agents can do exclusively, or just on the side of their main sales business. In this way, Property Management can provide concrete income for the sales agent while they at the same time build up their sales commissions.