Property Management: Job Scope, Duties, Functions
The real estate property manager is tasked with supervising, operating the management of running and regular supervision of Residential, Commercial, and Industrial properties.
These ensure, seek to supervise properties’ smooth running, oversee operations, ensure that properties get cleaned well, remain tenanted, or sustain market prices.
Upon getting hired in property management, one is employed full time, then gets assigned supervision, performance of tasks listed below:
Liaise and guide, tour rental properties with prospective tenants
Negotiate tenant lease, inform tenants of contracted occupancy terms
Collect monthly tenant rental fees
Organize building Repairs or Maintenance upon demand
Submit bills inclusive of Mortgage, Taxes, Insurance, Payroll, or Cleaning
Examine and resolve Complaints, Conflicts, or Non-compliance
Maintain Records for rental transactions
Draft budgets or fiscal reviews
Study or enforce compliance with prevailing local tenancy laws
Once real estate investors or Rental Property owners lack the time and skills required for managing such jobs, these regularly engage a property or Real Estate manager.
Working in rental property management, one is engaged either by property owners or employed through the means of independent contracts that are offered by property management enterprises.
Suppose one has talent or skills in Problem-Solving, Listening, negotiating, logistics, or analysis, working in property management could prove an ideal vocational option.
Here is a review of specific remuneration one might hope to get from the industry of the Real Estate sector.
After many surveys conducted, one notes that while duties, work are standard for most property managers, the remuneration might fluctuate, change.
This owes much to the following considerations:
Qualifications Needed for Property Management Roles:
The minimal educational qualification required for managing rental property is an O-level certificate.
Still, as several tasks are related to marketing, corporate or enterprise planning, directors would rather hire candidates with bachelor’s degrees.
One usually anticipates better remuneration when holding degrees in Real Estate, Business Administration, Public Administration, Business, or Accounting.
Property Management Service |
Asia Properties and Assets |
| Specialty | They know how to take better care of your assets. They are a property management company in Singapore that has provided services for clients, from strata management to defect negotiation & asset enhancement initiative. They conduct regular inspections of the common area, common facilities, administering tenders for routine maintenance works.
Services: Property Management, Maintenance management services, Accounting and financial services, administrative services, Professional Consultancy services |
| Pricing | Request a quotation: hr@asiapty.com |
| Website | https://www.asiapty.com/ |
| Address | 33 Ubi Ave 3 #02-55/56 Vertex Singapore 408868 |
| Telephone | +65-6802 3129 |
| Opening hours | 8.30 am to 5.30 pm |
| Review 1 | One of the responsible MA company I met patience enough to hear my complaints on my neighbours & issues I have brought up a few months ago ( which is the ex MA). Thanks to my proactive council. This MA took 1 month to resolve the long outstanding water seepages I face for last 2 years. Finally repaired and all settled. I can have good and nice Christmas & CNY. Kudos to the MA. |
| Review 2 | We just move in to our new house. The Management office staff at my estate has gone an extra mile to help me resolve issues I have inside my unit. The hammering sound make me loss my sleep. They Manage to ask the technician to check for me and help me to get it fix. I would like to compliment them for their services and assisting me on the issues which has been there for a while. They also assist or rather have the patience to teach my mum how to use the intercom in the house. Thank you |
| Review 3 | Giving my review as Treasurer of Belysa MCST 4131 and having worked with Ms Jocelyn Tan and her team for more than 1 year, I can recommend unequivocally Asia Properties and Consultancy Pte Ltd as the managing agent of choice to any developer or MCST looking for a professional and capable team.
My remarks are based on the following demonstrated attributes as displayed by Asia Properties :- – High standard of technical competency and experience of the staff on-site, I would like to put on record our thanks to Ms Jocelyn Tan for successfully spearheading negotiation with our developer on our defect rectification and claim as well as initiating many estate improvement programs for Belysa. 5 star rating well deserved !!! |
Property Management Service |
Ping Property |
| Specialty | As a seller or landlord, you want to be sure that you are dealing with experienced and ethical professionals. Their team consists of hard-working people who are supported by regular training programs, the most up-to-the-minute market information and state-of-the-art technology. No Commission. One Flat Fee. Sale, lease of your property.
Services: Assist in Completing Intent to Sell, Assist in Option to Purchase (OTP), CEA Licensed Property Agents, Issue Inventory List & Tenancy Agreement, Check Eligibility of Potential Tenants |
| Pricing | Request a quotation: ping@ping.property |
| Website | https://ping.property/ |
| Address | 69 Jalan Tua Kong #04-08 (S) 457264 |
| Telephone | +65-8588 2228 |
| Opening hours | 9 am to 6 pm |
| Review 1 | Had a great experience with Andy and Pamela. Professional, efficient, reliable and friendly. Sold our unit quickly and with minimal hassle. We were initially cautious regarding their unique pricing framework, but our concerns were allayed during our first meeting. We like their honest, candid and down-to-earth style. Having undergone the entire selling process with them, we are more than happy to recommend hem! |
| Review 2 | Ping is disrupting the industry with their fixed fee. Very good value service. No regrets selling through them |
| Review 3 | Good job Ping Property Ping Property has made the process of the resale easy! Andy listens and works together to make the transaction smooth. He is efficient, helpful and enables smooth communication with the buyer and looks out for your needs as a seller. Thank you |
Property Management Service |
Ohmyhome |
| Specialty | Ohmyhome is Singapore’s leading property transaction ecosystem. They are the most highly rated property agency. By advancing their technology, they revolutionize property transactions through simplifying and improving the user experience of clients. They have created a One-Stop Solution for all your housing needs: DIY, Agents, Mortgage, Legal and 24/7 Platform.
Services: HDB rental, condo rental, landed home rental, apartment rental, residence rental |
| Pricing | Request a quotation: help@ohmyhome.com |
| Website | https://omh.sg/ |
| Address | 11 Lorong 3 Toa Payoh #04-17, Jackson Square Singapore, Singapore 319579 |
| Telephone | +65-6886 9009 |
| Opening hours | 24/7 |
| Review 1 | Richmond indeed held up his promises by closing the deal within 2 days of posting. Super agent with rich experience in his professionalism. Well organized. Closed within the first viewing! The entire selling was smooth and Richmond gave us the peace of mind that he will manged the entire process. Kudos to his hard work and will not hesitate to engage him in our future property. Highly recommend Richmond as your agent. |
| Review 2 | Richmond is truly a super agent! He’s very responsive and offered great tips and advice along the way. At the same time, he also kept things real by balancing our expectations. We sold our home within the first day of viewing at an offer that’s better than expected. Highly recommended – so do look him up if you’re looking to sell your home. |
| Review 3 | I would like to shout out to Clarence Liang for the smooth sailing transaction on selling my flat. Much advice and assistance were brought forth till the end of the closure. Highly recommended! All the best in your endeavour. |
Property Management Service |
Ace Decision |
| Specialty | Ace Decision Facilities Management Pte. Ltd was founded by a team of professionals from the strata management industry. They are equipped with more than 10 years of experience managing a wide array of properties, ranging from residential, commercial, industrial to mixed developments. Their team attained expertise to manage assets well.
Services: Strata management & maintenance, Finance & accounting, Administration, building defects identification and negotiation, Cost cutting initiatives |
| Pricing | Request a quotation: info@acedecision.com.sg |
| Website | https://www.acedecision.com.sg/ |
| Address | 808 French Road #06-167 Singapore 200808 |
| Telephone | +65 8222 5353 |
| Opening hours | 9 am to 5.30 pm |
Property Management Service |
Simply Sakal |
| Specialty | Seeking to revolutionize property management, they launched technology solutions by collecting estate data and efficiently applying these data sets through the use of their proprietary work-flow management system resulting in one connected property management ecosystem. Named Simply because they believe solution to modern day’s demand should be Simply made – Easy.
Services: Property management ecosystem, asset management, proprietary technological platform, property management, Data driven asset management |
| Pricing | Request a quotation: support@simplysakal.asia |
| Website | https://simplysakal.asia/ |
| Address | 22 Woodlands Link #03-27B, Singapore 738734 |
| Telephone | +65-6255 5652 |
| Opening hours | 9 am to 6 pm |
Property Management Service |
Savills |
| Specialty | Savills is a leading property agent. Their experience, expertise spans the globe, with 600 offices across Americas, Europe, Asia Pacific, Africa, Middle East. Their scale gives them specialist and local knowledge, and they take pride in providing best-in-class advice as they help individuals, businesses and institutions make better property decisions.
Services: Renting residential, condo rental, HDB rental, apartment rental, landed home rental |
| Pricing | Request a quotation: enquiry@savills.com.sg |
| Website | https://search.savills.com/list/property-to-rent/singapore |
| Address | 30 Cecil Street, #20-03, Prudential Tower Singapore, Singapore 049712 |
| Telephone | +65-6836 6888 |
| Opening hours | 8.30 am to 6 pm |
Property Management Service |
CBRE |
| Specialty | They invest in people and infrastructure in order to boost, customize, enhance service to clients. Their local market knowledge and extensive business offering keep them ahead of the competition. Consequently, they are market leaders in terms of commercial leasing, investment sales, residential project marketing and commercial asset management in Singapore.
Services: Property Management, Accounting, commercial asset management, Proprietary web-based management, leasing platform, Tenant Services, Security |
| Pricing | Request a quotation: serene.koh@cbre.com.sg |
| Website | https://www.cbre.com.sg/ |
| Address | 2 Tanjong Katong Road, #06-01 Paya Lebar Quarter, 437161 |
| Telephone | +65-62248181 |
| Opening hours | 9 am to 5.30 pm |
| Review 1 | I have found the company to be a very professional organization making sure that every aspect is attended to in the management of a building.
Especially for Claymore connect Tyrese and Gillian whom i have worked with in noise control for some of the establishments located at the mall. |
| Review 2 | 2018 to 2020: was working for a service provider engaged by cbreSG. The team was a pleasure to work with. |
| Review 3 | Thank you CBRE Malaysia for being a great team leader. We love CBRE! |
Property Management Service |
Smart Property |
| Specialty | They provide managing agent services to both residential and commercial strata-titled properties. They manage a portfolio of over 170 properties ranging from residential, commercial, industrial developments. They provide common area management services to property developers or management corporations of strata-titled commercial and residential properties. Administrative and Secretarial, Accounting and Finance.
Services: Managing agent services, common area management services, Administrative and Secretarial, Accounting and Finance, Property Management |
| Pricing | Request a quotation: tseern.ang@smartproperty.sg |
| Website | https://www.smartproperty.sg/ |
| Address | 38C Jalan Pemimpin, #03-01, BOSCH Building, Singapore 577180 |
| Contact | Tel: (+65) 6223 0169
Email: tseern.ang@smartproperty.sg |
| Opening hours | 9 am to 5 pm |
| Review 1 | Excellent road access, 3 min to KPE and 7 min to TPE. The wet market nearby (5 mins walk) operate 7 days a week is superb for household on regular cooking for loved ones at home. The landscape and the surrounding of the condo is very well kept by a team of friendly condo mgmt team. The park across with cycling and jogging track provide a balance life style of work, play and fitness upkeep. The gym and other utilities within the condo is well maintained and well kept. Love this place. |
| Review 2 | I was staying at one of the condos managed by them in the West side of Singapore. We lobbied hard to change the incumbent Managing Agent out as they were not performing nor responsive. Desmond and team came to our condo on a weekend and gave us a thorough and sincere briefing of what they can do and deliver realistically. He always have a solution for every problem we throw at him and most of us were largely satisfied.
One year plus into Smart’s care and our condo has grown and enhanced its value at the same time the on site team is delivering wonderful service often even surpassing working hours putting in extra efforts. Well done! |
| Review 3 | High tech and forward looking firm. Thumbs up. |
Property Management Service |
Colliers |
| Specialty | Their team of experienced real estate and property management professionals in Singapore is committed to understanding clients’ needs, adopting best practices to provide effective and strategic solutions that utilize specialized resources in real estate planning and management. They are able to create and deliver value to asset portfolios of clients.
Services: Real Estate Management Services, maximize asset value, property management professionals, real estate planning, ISO 9001, OHSAS 1808 certifications |
| Pricing | Request a quotation: Stephen.P.Bruce@colliers.com |
| Website | https://www.colliers.com/en-sg |
| Address | 12 Marina View, Asia Square Tower 2 #19-02 Singapore, Singapore 018961 |
| Telephone | +65- 6223 2323 |
| Opening hours | 9 am to 5 pm |
| Review 1 | On behalf of DeKalb Office, we put our trust in Colliers and Doug Ryan to help us relocate our Nashville office and warehouse. Doug and Colliers were very professional and we are very happy with our new space. |
| Review 2 | I have worked with Colliers for the past 5-10 years and I have been very impressed with their communication, attention, to detail, performance. I continue to use them for all of my office leasing and sales needs. |
| Review 3 | Better than OUTSTANDING! |
Property Management Service |
UEMS |
| Specialty | UEMS Solutions Pte. Ltd (“UEMS”) is a home-grown MNC that has established itself in the healthcare domain for a good 27 years since its inception in 1988. Started off as a company focusing on housekeeping services, the company has expanded its business service deliveries in both facilities’ management, specialized services.
Services: Managing Agent Services, Facilities Management and Maintenance Services, Sanitary & Plumbing Management, Fire Safety Management Services, Project Management and Consultancy Services |
| Pricing | Request a quotation: sg.sales@uemsgroup.com |
| Website | https://www.uemsgroup.com/sg |
| Address | No 12 Ang Mo Kio St 64 Blk B, #03A-11, UE Bizhub Central Singapore 569088 |
| Telephone | +65 6818 3600 |
| Opening hours | 9 am to 6 pm |
| Review 1 | Uems company is very good and staff are very kind hearted as well as well educated |
| Review 2 | Good |
| Review 3 | All the staff are friendly |
Property Management Service |
Citiprop |
| Specialty | Established in 1980, Citiprop is a boutique real estate agency providing highly personalized services to their largely expatriate clientele. From a foundation in residential property leasing, Citiprop expanded to offer property sales, purchases, property management, and corporate services. Their international team includes realtors and support staff from around the globe.
Services: Letter of Intent (LOI), Tenancy Agreement (TA), stamp duty, coordinating early terminations, renewals, lease extensions |
| Pricing | Request a quotation: info@citiprop.com |
| Website | http://www.citiprop.com/ |
| Address | 314 Tanglin Rd, Singapore 247977 |
| Telephone | +65-64732777 |
| Opening hours | 9 am to 6 pm |
Property Management Service |
Knight Frank |
| Specialty | Knight Frank Singapore is one of the country’s first real estate companies. Backed by a wealth of 80 years of experience, they are privileged to have been entrusted with multi-million-dollar projects across government and private sectors, in both local and international markets. They offer comprehensive packages of asset management services.
Services: Estate management, lease and tenant management, advertising and promotion, Maintenance and repairs, Property management, Security, Plumbing, Power Supply maintenance |
| Pricing | Request a quotation: dpo@sg.knightfrank.com |
| Website | https://www.knightfrank.com.sg/ |
| Address | 10 Collyer Quay, #08-01 Ocean Financial Centre, Singapore 049315 |
| Telephone | +65-62221333 |
| Opening hours | 9 am to 5 pm |
| Review 1 | Staffs are friendly and polite. Have a nice reception with spacious and meeting rooms with nice coffee maker machine and a large pantry area. Have rather a good view of the surrounding despite being at level 5 only. |
| Review 2 | Good |
| Review 3 | Nice open concept office design |
Property Management Service |
Mapletree |
| Specialty | Excellent property management as an integral part of the real estate business. They view excellent property management as an integral part of the real estate business and their competence in this area is apparent across their portfolio of properties, in Singapore close regions, managed by the Mapletree-sponsored REITs, sustaining tenants.
Services: Property management, industrial, logistics, commercial property management, maintain facilities, asset management |
| Pricing | Request a quotation: pcm@mapletree.com.sg |
| Website | https://www.mapletree.com.sg/ |
| Address | 10 Pasir Panjang Road, #13-01, Mapletree Business City, Singapore 117438 |
| Telephone | +65-63776111 |
| Opening hours | 9 am to 6 pm |
| Review 1 | Nice place to work with both cozy ambience and all necessary facilities in place. Being much less crowded and more accessible to the nature than downtown, it will definitely brings you a more relaxed mood 🙂 |
| Review 2 | Good |
| Review 3 | One of the best in class business city in Singapore, managed by Mapletree Commercial Trust. Well located at Alexandra road/ Pasir Panjang and connected to Labrador Park Mrt. Next to ARC, which houses well established f&b restaurants as well as supermarkets. The design is unique and environmental friendly features all around the business city. Grade A office space with high ceiling, column-free design. |
Property Management Service |
Rhodo |
| Specialty | At Rhodo, they strive to preserve and increase the value of the properties managed by them. Here at Rhodo, they bring true value and a set of standard practice to the industry of property and estate management, by upholding Core Values, helping solve problems in managing your estate and property.
Services: Admin & Secretariat Services, Accounting Services, Building M&E Services, Facilities Management, Supervision of Maintenance & Repair Works |
| Pricing | Request a quotation: sales-enquiries@rhodoem.com |
| Website | https://rhodoem.com/ |
| Address | Blk 531 Upper Cross Street #03-52 Hong Lim Complex Singapore 050531 |
| Telephone | +65 6533 3375 |
| Opening hours | 9 am to 6 pm |
| Review 1 | A coin has 2 faces. I also happened to be from Hillview Peak. My perspective is different from Siva. The previous MA had left with a whole mess which will take months to clean up and if not a year. Over the last few months I’ve seen much improvements. Whole stretch of lights that died, came back… Flora and fauna are healthier etc. Condo Manager can be seen to be trying his best and I’ve found him to be very responsive to request in rectifying works at general area. |
| Review 2 | Rhodo took over the FM service at Parkview Apts on 3rd Nov 2019; after ex-FM company has been around for six years. The 19th council team was glad to carry out the change for FM service before C19 pandemic and C19 Circuit Breaker got started.The 19th MC also appointed new Security Service (Tiger Hong) effective from 3/2/2020 (during CNY); when C19 pandemic was not at a threatening level.
With 2 MC resigned in July 19 & 1 MC resigned in September 19, the balance team of four MC managed to keep PV safe and sound throughout the C19 CB. The 20th MC with 14 members took over the honourable service after AGM on 26 September 2020. We would like to compliment both Rhodo and Tiger Hong for their professionalism and enthusiasm in maintaining PV in good order. They are the most valuable stakeholders who always keeping PV residents’ interest in mind and at heart. We urge residents to give our best support to our service providers; with full understanding and appreciation. We MUST refrain from listening to “information” that does not have any CITATIONS. A picture paints a thousand words. The achievement produced by Rhodo after a short period of 17 months should be fully recognised and highly appraised. Please keep up the good effort! Thank you! |
| Review 3 | A big THANK YOU to the managing agent team who is working tirelessly during this pandemic often times exceeding their stipulated working hours and can see as they are a dedicated managing agent. Really appreciate their hard work! #essentialworkers |
Property Management Service |
Butler |
| Specialty | BUTLER started in 2016 with a vision to bring the hospitality services and experiences of a hotel to residential homes in Singapore, by providing the world’s first daily housekeeping service for residential properties. They deliver service excellence, reliability, and professionalism to serve their customers with top-notch, attentive, cordial, customized service.
Services: Housekeeping, Property, Maintenance Service, property maintenance, property services, property maintenance |
| Pricing | Request a quotation: hello@housekeeping.sg |
| Website | https://housekeeping.sg/ |
| Address | 808 French Rd, 07-167, Singapore 200808 |
| Telephone | +65-3129 2133 |
| Opening hours | 24/7 |
| Review 1 | Nana has done well in housekeeping. Every time she leave, my house clean and tidy. Very professional. It is really value of money. Thank you so much Nana. |
| Review 2 | We can have a peace of mind with Hartini as our housekeeper. She is independent and efficient and we can always rely on her to leave the house clean at the end of our weekly session. Pleased to have engaged Butler for our housekeeping needs. |
| Review 3 | I have been living at my co-living space for about 6 months, and every week Dewi would come in to do cleaning. Over time, I start to know her better. I am impressed with her work ethics. She always leaves my room squeaky clean and every time I see her, she greets me with a smile. Her positivity and dedication to her work is impressive. Thank you Butler Singapore, thank you Dewi! 🙏🏼✨💖 |
Property Management Service |
PFS |
| Specialty | Property Facility Services Pte. Ltd is one of Singapore’s leading and fastest growing property and facility management companies. Incorporated in 2001 and leveraging on the beneficial synergistic partnerships within the group, they are dedicated to offering fully integrated real estate solutions to clients, with their diverse property portfolio, residential, commercial.
Services: Property, Facility, Asset Management Services, Advice on Maintenance Works, Energy Management Consultancy |
| Pricing | Request a quotation: contactme@pfspl.com.sg |
| Website | https://pfspl.com.sg/ |
| Address | 430 Lorong 6 Toa Payoh #10-01 OrangeTee Building Singapore 319402 |
| Telephone | +65 6221 1313 |
| Opening hours | 9 am to 6 pm |
Property Management Service |
Kingston Property Maintenance |
| Specialty | Kingston Property Maintenance Services Pte. Ltd, a subsidiary of Hong Leong Holdings Limited, was first established in 1975. With more than 40 years’ experience in the industry, their continuing commitment to providing high-quality property management and maintenance services has earned them recognition, with track records in Commercial, Residential, Mixed Developments.
Services: Property Management, Property Maintenance, Sanitary and plumbing service, Fire protection systems, Mechanical ventilation system |
| Pricing | Request a quotation: kpmspl@kingston.com.sg |
| Website | https://kingston.com.sg/ |
| Address | 16 Raffles Quay #11-01 Hong Leong Building Singapore 048581 |
| Telephone | +65-6220 7535 |
| Opening hours | 9 am to 6 pm |
Property Management Service |
Frasers Property |
| Specialty | They are a multi-national company that owns, develops, and manages a diverse, integrated portfolio of property assets across Southeast Asia, Australia, Europe, and China. Their well-established hospitality business owns and operates serviced apartments and hotels in over 70 cities across Asia, Australia, Europe, the Middle East, Africa, delivering property management.
Pricing: Property development and management, Property investments, REIT manager, Hospitality management, diversified property group |
| Pricing | Request a quotation: promo@frasersproperty.com |
| Website | https://www.frasersproperty.com/ |
| Address | 438 Alexandra Rd, Level 21 Alexandra Point, Singapore 119958 |
| Telephone | +65-64150300 |
| Opening hours | 9 am to 6 pm |
| Review 1 | wonderfull hotel and good peopil espicially mr Hairaldeen and mr ali they were very nice to me and my family and for that treatment from those extraordenery men I deside to come back again and again |
| Review 2 | Lifestyle living by the river, a great location surrounded with amenities! |
| Review 3 | Beautiful site with lifestyle living |
Property Management Service |
EM Services |
| Specialty | Managing around 600,000 HDB residential units, 9,700 retail and shop units, 6,200 market and food center stalls, and 470,000 vehicle parking lots, EM Services has established strong track records in management of townships and properties across Singapore. A joint venture between the Housing & Development Board and Keppel Land Limited.
Services: Estate, property management company maintenance services across residential, commercial, industrial properties, asset management |
| Pricing | Request a quotation: info@emre.com.sg |
| Website | https://www.emservices.com.sg/ |
| Address | 201, Kim Tian Road #03-400 Singapore 160201 |
| Telephone | (+65) 6278 8282 |
| Opening hours | 8 am to 6 pm |
| Review 1 | It’s good and 100% trustable |
| Review 2 | Engineering measurements and calibration service provider. I used to get some calibration reports, they were friendly and achieved the lead time. Recommend to others who looks for calibration services. |
Property Management Service |
Surbana Jurong |
| Specialty | Surbana Jurong Group is a global urban, infrastructure, and managed services consulting firm, with over 70 years of track record in successful project delivery. Headquartered in Singapore, the group has a global talent pool of 16,000 across Surbana Jurong, affiliate companies include AETOS, Atelier Ten, B+H, KTP, Prostruct, RBG, SAA, Sino-Sun, SMEC.
Services: Development management, feasibility studies, strategy planning and development, delivery, operation management |
| Pricing | Request a quotation: BD@surbanajurong.com |
| Website | https://surbanajurong.com/ |
| Address | 168 Jalan Bukit Merah #01-01 Connection One Singapore 150168 |
| Telephone | +65 62481288 |
| Opening hours | 8.30 am to 6 pm |
| Review 1 | Good company to work for |
| Review 2 | Awesome |
| Review 3 | Large Consultant firm |
Qualifications:
Getting certified in property management convinces employers or prospective clients of your professional training and grasp of the market, with better expertise, background than the layman property manager.
So, certification might help you stand out, or provide you with some leverage to advance career growth.
Available are several forms of qualifications you might obtain like NALP, CPM, CAM, or MPM certification.
Employment history:
Accumulated employment history might influence the overall remuneration that property managers draw.
Realistically estimated, managers with longer employment history, could expect to draw higher salary bases.
If you seek to accumulate practice in property management roles, try training in practical management training attachments or studying supplementary, ad hoc modules that come under Real Estate Development, Management, Finance, or Urban Planning Majors in tertiary institutions.
Building Type:
The ultimate consideration affecting the property manager’s compensation is the specific genres, types of Real Estate properties that one manages.
Though the usual median is $74k, apartment managers usually draw $56k, Self-Storage Facility Supervisors $97k, and Real Estate Asset Managers $76k, reported by Glassdoor.
Some Advice to Property Managers:
Bill Clients Competitive Rates Market Wise
Making poor estimations of pricing that do not reflect market rates may potentially cause junior managers to bring in low returns in financial compensation when working in real estate property management roles.
If one charges excessive rates, one might drive away, lose the interest, patronage, of potential customers.
Billing below-market-rate management rates, still, does not resolve the issue, also it might even damage your branding, in coming across as, or appearing to be, a mere industry novice, or fledgling real estate practitioner, highly desperate, overly eager for cases.
Indeed, this could gain you several clients, still property management services usually draw heavily on such charges to drive up business profits.
So, if you provide big price reductions, responding to the clients’ needs might turn into an uphill struggle due to low profit margins, while standards of service might drop, once you are busy with a bigger clientele base – this could lead to gradual losses in compensation overall.
Manage High Yield Properties
Beginning your career within the Real Estate industry, one might mistakenly perceive that compensation for property managers will exponentially increase based upon the total numbers of properties that one manages.
More properties supervised should generate expanded revenue. In practice, this applies only to a certain degree.
Though the number of properties factor in overall, property location, prestige remains an important factor in the total revenue that one earns from managing these.
If one merely prioritizes just Quantity over Quality, one may just supervise properties that could demand more strenuous work than the actual earnings seem to reflect overall.
To optimize work put in to earn maximum yield from property management, one has to aggressively expand the number of high yield properties within your portfolio.
Shift to the Prime Destinations for Property Managers
Though it requires less effort to supervise rental properties in close proximity or coming from the residential market where one resides, one could have to expand one’s sights to have a viable, profitable career.
The prime location of rental accommodation is often considered a priority concern within Real Estate markets that determines the cumulative Property Manager revenue that is generated over time, progressively.
Within the North American residential market, specific cities command more premium than others, for Real Estate Management. Suppose you seek to earn a higher, more substantial revenue; you have to aggressively look to manage properties within such premium locations.
Leverage with Property Management Tools
Top ranking real estate property managers from the USA are rapidly leveraging property management apps and automated, AI driven mobile apps.
If you seek to actively expand profit margins in this industry, you must factor mobile property management apps into your operations to optimize your property management efficiency, service, speed.
Presently, one has to do away with many outmoded methods of executing operations within Real Estate markets, and leverage the strategic use of cutting-edge technologies that are presently accessible to property managers.
While one does not require these when just starting out in property management, one certainly could need to tap on these to enhance efficiency upon the expansion of properties under one’s portfolios, or when one gathers a heavier, growing workload.
Provide Attentive Service to Contracted Clients
The final step to draw more revenue for the property manager is expanding, leveraging revenue-per-door.
To consider, property management remains a saturated sector in many Real Estate markets, as it promises much advancement, career growth potential.
The ultimate compensation driver for Residential Property Managers remains their management fees, still, on hand are multiple factors that may potentially be optimized to stretch profits.
Such include regular roles like Strategic Planning, Financial Planning, Scheduled Maintenance for Supervision, Property Tours, previews, etc.
You might charge extra fees for roles that you usually perform, undertake, with included, additionally considered Marketing charges, Leasing charges, Eviction charges, and Inspection charges.
These might enable one to push up the total revenue earned, or bring in more substantial profits from one’s existing, concurrent property management portfolios.
