The real estate industry in Australia is booming now. There are lots of job opportunities to handle this large industry. You can also start your career in this industry with proper skills and the will to work hard.
You can start working as a property manager with your beginner-level or mid-level skill. But what do property managers do? What are the benefits?
A common misconception about this career is that the job consists solely of collecting rent payments.
There is, however, more behind this role than you can see.
Who is a Property Manager?
When property owners don’t have the time or capacity to supervise their investment properties, they turn to professionals for assistance; this is where a property manager originally came in. A property manager acts as a liaison between the landlord or property owner and the tenants.
A property manager will usually handle a portfolio of properties located in close proximity to one another.
A property manager is in charge of almost everything related to the rental of the property.
Property managers manage the business aspects of real estate that are usually owned by someone else.
These properties could be small single-family homes, large multi-family buildings, or sprawling retail complexes.
Responsibilities of a Property Manager
Understanding what a property manager’s responsibilities and responsibilities are will help you make a decision about whether or not you wish to be a property manager.
Property management covers a big spectrum of responsibilities, including finding the right tenants, maximising rental income and ensuring that the property is in its most suitable condition. This includes overseeing economic matters, legal aspects, and safety budgeting.
To understand how a property manager’s every day goes, first understand the roles and responsibilities. Here’s a brief assessment of the responsibilities that a property manager carries out:
- Determine the hire rate
- Schedule regular inspection
- Advertise rental vacancies
- Screen and approve tenants
- Prepare and enforce a rent agreement
- Handle tenant court cases and issues
- Collect and modify the rent
- Carry out property safety and preservation
- Supervise on-site and online employees
- Take care of the rental property
- Handle evictions and approach move-outs
- Ensures that the property is legally compliant
- File taxes
- Keep statistics and create reports
The Benefits of Working as a Property Manager
If you have good case-solving skills and enjoy dealing with a diverse range of people on a daily basis, becoming a property manager can be a rewarding career.
It has a high earning potential, and good property managers are frequently rewarded with bonuses.
Aside from the flexibility in your work schedule, here are some other benefits of working as a property manager:
It’s a High-Demanding Workplace
There is a high demand for good property managers due to the broad skill set requirements and their importance in the industry.
Based on the current state of the real estate market, property managers with strong connections and years of experience are in high demand, particularly in larger metropolis markets with high levels of investment, such as Sydney and Melbourne.
Areas with high expansion plans are also seeing an increase in job demand.
Great Earnings Potential
The average property manager salary in Australia is $100,000 based on 759 salary submissions.
Entry-level positions are expected to start at $75,000 per year, with most experienced managers earning up to $141,495 per year.
However, the earnings can vary based on the type/size of the property, location, experience, certification, and other factors.
Good Career Stepping Stone
Being a property manager is an excellent way to break into the real estate industry.
Most people in the industry begin their careers in administrative positions, which provides a solid foundation for learning how the industry operates.
Following that, a position in property management may be a suitable next step.
The Disadvantages of Working as a Property Manager
Being a property manager, like other career paths, comes with its own set of challenges.
A time-consuming occupation.
For property managers, having flexibility in their work schedule is a double-edged sword.
The majority of your work will be completed during normal business hours, but keep in mind that there is no fixed schedule for a property manager.
When necessary, they are expected to work nights, weekends, and even holidays.
And, because each property is unique and not all tenant-landlord issues are the same, there is no standard amount of time to resolve an issue.
If an emergency arises in the middle of the night, you will be responsible for dealing with it immediately.
Managing difficult tenants and landlords
Not all landlords are easily understanding, and not all tenants are friendly. So you may have to deal with unreasonable requests from time to time.
Be prepared to deal with tenants who may become violent during the eviction process, as well as to supervise disputes and medical emergencies or to deal with tenants who may become violent during the eviction process.
CPP51122 Diploma of Property (Agency Management)
The CPP51122 Diploma of Property (Agency Management) will teach you the skills you need to start your career as a property manager. You don’t require any prior knowledge or certification to enrol for this property management diploma.
This Diploma of Property (Agency Management) [CPP51122] is student-friendly and allows you to proceed at your preferable speed. You’ll also get the experience to work with real-life problems.
Diverse career opportunities:
This property management qualification does not limit your career as a property manager. You can shift to other positions in the real estate industry or even change wings if you wish. This property management certification can work as your foundation for those works as well.
The CPP51122 Diploma of Property (Agency Management) allows you to work as:
- Assistant Property Manager/Leasing Assistant
- Office Coordinator/Administrative Assistant
- Real Estate Broker
So, grab the opportunity to work in this prosperous industry and start by gaining the qualification today.