Property, Real Estate, and Community Association Managers oversee the operations, maintenance, and financial aspects of residential, commercial, or industrial properties. Their responsibilities typically include managing property finances, advertising vacancies, negotiating leases, maintaining properties, ensuring compliance with laws and regulations, and handling tenant relations. Community Association Managers specifically focus on managing common areas and amenities in community associations like condominiums or homeowner associations.
This income data is sourced from the May 2023 Occupational Employment and Wage Statistics (OEWS) survey. The dataset is updated annually.
Annual Pay Distribution | Salary |
|---|---|
10th percentile | $38,610.00 |
25th percentile | $44,470.00 |
median (50th percentile) | $56,930.00 |
75th percentile | $68,640.00 |
90th percentile | $109,780.00 |
Hourly Pay Distribution | Hourly Rate |
|---|---|
10th percentile | $18.56 |
25th percentile | $21.38 |
median (50th percentile) | $27.37 |
75th percentile | $33.00 |
90th percentile | $52.78 |
Property, Real Estate, and Community Association Managers typically need a high school diploma or equivalent to enter the occupation. However, many employers prefer candidates with a bachelor's degree in business administration, real estate, or a related field. Having prior work experience in real estate, property management, or a relevant field is also beneficial. On-the-job training is common for these professionals. Additionally, licensure requirements vary by state, especially for those involved in real estate transactions such as selling property. Some states require property managers to have a real estate license. Training for Property, Real Estate, and Community Association Managers often involves learning on the job under the supervision of experienced managers. They may start out as assistant managers and gradually take on more responsibilities and properties as they gain experience. Specialized training programs and certifications are available through various real estate and property management organizations, which can provide valuable knowledge and skills in areas such as lease management, financial management, maintenance, and legal issues related to real estate management. Ongoing professional development is crucial in this field to stay current with industry trends and best practices.