Certificate and degree programs in Property Management can train students to develop the set of skills needed to manage residential and commercial property within today’s complex real estate market. These programs include courses from multiple disciplines such as business management, customer service, and facilities management. Once students complete the coursework associated with Property Management degree and certificate programs, they could be prepared for many opportunities depending on personal preferences and abilities.
The course content of Property Management programs are often divided into core course content and concentration content. The core course content includes all the basic course material that students must cover in order to be deemed competent in their chosen field. After students choose a career path within the property management field, they will take the necessary concentration courses.
Property Management Core Coursework
Business management related coursework is included in the Property Management program core coursework. These classes include project management, marketing, property risk management, property financing, property management technology, and human resources. Property Management program core coursework also include customer service, client relations, rental property, and fair housing training. Students also learn basic knowledge of facility management through building systems, building codes, and real estate core courses.
Property Management Concentration Coursework
few concentrations that are offered within some Property Management certificate and degree programs are Residential, Commercial, Elder Housing, and Low Income and Affordable Housing Management Credits.
The Residential concentration provides students with coursework in the following areas:
Residential property management and marketing
Basic knowledge of low income/affordable housing governance
The Commercial concentration includes courses related to the following:
Marketing, managing, and leasing commercial real estate
Understanding building blue prints
Commercial property appraisal
The Elder Housing concentration contains coursework in the following areas:
Managing and marketing housing for seniors
Health services for the elderly
The Low Income and Affordable Housing Management concentration includes coursework in:
Health services for the elderly
Affordable housing management
Interview With A Property Manager
Students pursuing Property Management degrees or certificates with a concentration in Residential property management may find career opportunities working with real estate agents to manage and market single family homes. Many property managers continue their education and become licensed real estate agents. Jobs as apartment property managers also abound, and property managers must coordinate tenant issues as well as property maintenance in many instances. Graduates may possibly work as government or university officials to manage military base housing and student housing.
Those who earn Property Management degrees or certificates with a concentration in Commercial property management have access to commercial property management positions managing retail storefronts and office space. Specialty commercial property management for lodging and resorts are also career options for those pursuing Property Management degrees with a concentration in Commercial property management.
The Elder Housing concentration provides graduates with high growth career opportunities. Research has determined that the population overall is living longer. The logical conclusion is that those living longer will need housing assistance. Property management career opportunities within senior housing communities and possibly nursing homes are available to those possessing the right qualifications.
Currently, graduates with a Property Management degree or certificate with a concentration in Affordable Housing Management have job opportunities within state and local government housing development projects. Depending on the success and abilities of the graduate, experience as a government property manager could later prepare the candidate for upper administrative positions within the various state and local housing authorities.
Property Manager Salary and Job Outlook
According to the Bureau of Labor Statistics (BLS), property manager employment is expected to grow 6 percent from 2010 to 2020, which is slower than average. In May 2010, the BLS stated that the average wage annually for property managers was $51,480. Long hours, on call time and weekend showings make most time off for property managers during the week.
Keys to Success
Successful job seekers within both the residential and commercial areas must possess certain levels of creativity and problem solving skills to “think outside the box” as this career field is rife with the unexpected. Whether one is handling tenant complaints, commercial lease negotiations, or the heartbreaking eviction of needy families, property managers must always be on their toes.
There is overlap in the characteristics that make great residential and commercial property managers. However, residential property managers must always have a certain amount of care for people and excel at customer service to be considered successful. Commercial property managers must possess analytical skills to be effective.