A property manager oversees daily operations of residential or commercial properties. They collect rent, handle tenant complaints, coordinate maintenance, and ensure legal compliance. Property managers work for property owners to manage leasing, finances, and upkeep. Their responsibilities improve tenant satisfaction and support the financial performance of real estate properties.
What Does a Property Manager Do
A property manager controls day to day operations for rental properties. They manage tenant complaints, complete maintenance requests, and collect rent payments. They also keep financial records, organize vendor services like snow removal, and update property owners on performance.
These tasks apply across residential properties and commercial property management settings. Managers screen potential tenants, set rental rates, and maintain tenant satisfaction by solving issues quickly. For example, a property manager might resolve a plumbing problem the same day a tenant complaint is received.
Key Responsibilities in Property Management
Property manager responsibilities are clearly defined. A manager must follow landlord tenant laws, respond to emergencies, and supervise leasing agents.
Core duties include:
- Collecting rent and late fee tracking
- Screening tenants using credit and background checks
- Handling lease renewals and security deposit returns
- Coordinating repairs and routine maintenance
- Inspecting vacant units and preparing for new tenants
In a case where vacant properties increase, the manager launches advertising efforts to attract prospective tenants. Good interpersonal skills help them communicate with both current tenants and contractors.
Skills and Qualifications for Property Managers
Necessary skills:
- Strong communication for tenant relations
- Financial understanding for budget planning
- Organizational ability for managing multiple properties
- Computer skills to maintain financial records
- Legal knowledge for federal laws and local codes
An ideal candidate can handle new and different requests daily without delays or errors.
Residential vs. Commercial Property Management
Residential property managers oversee homes, condos, and apartments. They deal with lease renewals, rent collection, and resolving tenant complaints. These roles are highly interactive with tenants.
Commercial property management focuses on office buildings and retail centers. Managers work with vendors, enforce lease terms, and plan renovations.
Table: Residential vs. Commercial Property Manager Job Description Overview
| Property Type | Focus Areas | Common Tasks |
|---|---|---|
| Residential | Tenants, repairs, leasing | Lease handling, rent collection, maintenance |
| Commercial | Systems, vendors, occupancy | Vendor oversight, contract negotiation |
| Investment | ROI, value retention | Budgeting, repairs, resale prep |
Source: Institute of Real Estate Management (IREM), 2024
Managing Tenants and Maintenance
A property manager job centers on tenant relations. Managers schedule routine maintenance, log maintenance requests, and handle conflict resolution when needed.
Daily tenant tasks:
- Handle tenant complaints by phone or app
- Respond to late payments
- Ensure property maintenance is up-to-date
- Collect and track security deposits
- Maintain tenant satisfaction with quick responses
Example: After five maintenance requests in one week at a duplex, a manager scheduled preventive inspections to avoid future calls—improving the building’s smooth operation.
Financial and Legal Responsibilities
Financial management is a must. Managers prepare reports, track financial performance, and oversee budgets.
They must also ensure compliance with:
- Federal laws and fair housing policies
- Eviction procedures
- Rent increase notices
- Lease terminations
They manage property operations while protecting real estate investments. Good reporting helps owners make real estate decisions that increase value.
How to Start a Career in Property Management
To become a professional property manager, start with a high school diploma and gain entry-level experience as a leasing agent or assistant manager.
Steps to Get Started:
- Learn about tenant screening and lease laws
- Build skills in collecting rent and budgeting
- Develop people skills for resolving tenant complaints
- Consider certifications from IREM or NARPM
With experience, managers move into senior roles managing multiple properties or overseeing real estate properties for investors.
Questions We Get Asked the Most About Property Manager Job Descriptions
These are the questions people ask most often in regard to the property manager job description.
What is the main role of a property manager?
A property manager oversees all property operations including rent collection, maintenance, tenant issues, and legal compliance. They help ensure real estate properties run smoothly and meet financial objectives.
What qualifications do I need to become a property manager?
Most employers ask for a high school diploma. Some jobs require knowledge of business administration, a valid driver’s license, and sometimes a real estate license or management certification.
What types of properties do property managers handle?
They manage residential properties, commercial spaces, and investment properties. Each type has different goals but all involve managing property for owner benefit.
What’s the average salary for property managers?
The average salary for a property manager in the U.S. is around $59,000 per year. Those managing commercial property management roles or multiple properties often earn more.
Do property managers need a license?
In many states, yes. Professional property managers often need licenses, especially when managing leasing agents or handling real estate sales directly.
