A property manager or estate manager is a person or firm charged with operating a real estate property for a fee. The property may be individual title owned or owned under the sectional title, share block company owned, and may be registered for residential, commercial office, and retail or industrial use. In 2006, the Bureau of Labor Statistics Office of Occupational Statistics reported that there were 329,000 property managers employed in the United States, with the number expected to grow to by 50,000 by 2016.[1]
Typical duties expected of a property manager include finding/evicting, dealing with tenants, and coordinating with the owner's wishes. In addition, such arrangements may require the property manager to collect rents and pay necessary expenses and taxes, making periodic reports to the owner, or the owner may delegate specific tasks and deal with others directly.
A property manager may arrange for a wide variety of services, as may be requested by the owner of the property, for a fee. Where a dwelling (vacation home, second home) is only periodically occupied, the property manager might arrange for heightened security monitoring, house-sitting, storage and shipping of goods, and other local sub-contracting necessary to make the property comfortable when the owner is in residence (utilities, systems operating, supplies and staff on hand, etc.). Property management can also include commercial properties where the property manager may run the business and manage the property. Some jurisdictions may require a property manager to be licensed to practice the profession.
The property manager has a primary responsibility to the landlord and a secondary responsibility to the agency. The relationship the property manager has with the landlord and the tenant is crucial in forming the expectations of both parties to the lease since both parties will seek and expect certain rights and benefits.
Professional designationsedit
The Building Owners and Managers Association (BOMA International) offers industry-standard designations that certify the training to Property Managers:
National Association of Residential Property Managers offers designations to certify ethical and professional standards of conduct for property managers:
^Prandi, Melissa, MPM (2009). The Complete Idiot's Guide to Success as a Property Manager. Alpha Books. ISBN9781101140628. Retrieved 31 August 2018.{{cite book}}: CS1 maint: multiple names: authors list (link)
April 13, 2024
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This article is about the manager of buildings and real estate For theater employee see Property master This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Property manager news newspapers books scholar JSTOR August 2018 Learn how and when to remove this template message The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject You may improve this article discuss the issue on the talk page or create a new article as appropriate October 2011 Learn how and when to remove this template message A property manager or estate manager is a person or firm charged with operating a real estate property for a fee The property may be individual title owned or owned under the sectional title share block company owned and may be registered for residential commercial office and retail or industrial use In 2006 the Bureau of Labor Statistics Office of Occupational Statistics reported that there were 329 000 property managers employed in the United States with the number expected to grow to by 50 000 by 2016 1 Contents 1 Overview of responsibilities 2 Professional designations 3 See also 4 ReferencesOverview of responsibilities editTypical duties expected of a property manager include finding evicting dealing with tenants and coordinating with the owner s wishes In addition such arrangements may require the property manager to collect rents and pay necessary expenses and taxes making periodic reports to the owner or the owner may delegate specific tasks and deal with others directly A property manager may arrange for a wide variety of services as may be requested by the owner of the property for a fee Where a dwelling vacation home second home is only periodically occupied the property manager might arrange for heightened security monitoring house sitting storage and shipping of goods and other local sub contracting necessary to make the property comfortable when the owner is in residence utilities systems operating supplies and staff on hand etc Property management can also include commercial properties where the property manager may run the business and manage the property Some jurisdictions may require a property manager to be licensed to practice the profession The property manager has a primary responsibility to the landlord and a secondary responsibility to the agency The relationship the property manager has with the landlord and the tenant is crucial in forming the expectations of both parties to the lease since both parties will seek and expect certain rights and benefits Professional designations editThe Building Owners and Managers Association BOMA International offers industry standard designations that certify the training to Property Managers Real Property Administrator RPA Facilities Management Administrator FMA Systems Maintenance Administrator SMA Systems Maintenance Technician SMT Institute of Real Estate Management IREM Certified Property Manager CPM Accredited Residential Manager ARM Accredited Commercial Manager ACM Accredited Management Organization AMO Manufactured Housing Institute MHI Accredited Community Manager ACM Professional Housing Consultant PHC National Apartment Association NAA has the following designations Certified Apartment Manager CAM Certified Apartment Property Supervisor CAPS National Association of Residential Property Managers offers designations to certify ethical and professional standards of conduct for property managers Residential Management Professional RMP Master Property Manager MPM Certified Support Specialist CSS Certified Residential Management Company CRMC National Center for Housing Management offers the following designations for property managers and others involved in housing management Certified Manager of Housing CMH Certified Manager of Maintenance CMM Certified Occupancy Specialist COS Registered Housing Manager RHM Certified Financial Specialist CFS Tax Credit Specialist TCS Blended Occupancy Specialist BOS State specific designations California Certified Community Association Manager CCAM Florida Community Association Manager CAM Minnesota Certified Community Association Manager CCAM Minnesota Certified Residential Manager CRM See also editProperty caretaker Property managementReferences edit Prandi Melissa MPM 2009 The Complete Idiot s Guide to Success as a Property Manager Alpha Books ISBN 9781101140628 Retrieved 31 August 2018 a href Template Cite book html title Template Cite book cite book a CS1 maint multiple names authors list link Retrieved from https en wikipedia org w index php title Property manager amp oldid 1206051619, wikipedia, wiki, book, books, library,
