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Property Management Job: Overview

A person working a property management job is called a property manager. He is responsible for overseeing the maintenance and welfare of landed properties and buildings, on the owner’s behalf. He carries out routine checks and gives an order for renovations when necessary. This career is also known as Estate Management. It is closely related to Real Estate management and Asset management.

Job Description

The duties of a property manager include:

  1. Advertising properties for hire and scouting for buyers using the services of an agent.
  2. Interacting with prospective clients, showing them the property, and screening their profiles to find the perfect fit.
  3. Keeping a record of the property’s finances, the number of properties sold, and the number of vacant properties, and documenting accordingly.
  4. Sending periodic reports of the property’s progress to the property owner.
  5. Receiving rent for leased properties and payment for sold properties from tenants and buyers.
  6. Offsetting bills incurred in the course of maintaining the properties; taxes, mortgage, insurance, and others.
  7. Paying property staff’s salary when due.
  8. Scheduling renovations and repairs when necessary.
  9. Supervising ongoing renovations and paying maintenance staff’s wages.
  10. Settling disputes between property staff members when they arise.
  11. Addressing complaints from property staff, and attending to inquiries regarding property purchases from clients.
  12. Staying up-to-date on the real estate market rates to know the best time to sell, and the best prices to sell.
  13. Evicting tenants who have violated the terms of the agreement and terminating their lease.

Job Requirements

Skills and qualifications required for a property management job Include:

  1. High school Diploma
  2. A degree in Real Estate or any other related field like business administration.
  3. Computer literacy; knowledge in the use of data processing software like Microsoft Office Suite.
  4. Proficiency in English and good verbal and written communication skills.
  5. Efficient marketing and negotiation skills.
  6. Organization skills.
  7. In-depth knowledge of marketing and accounting principles.
  8. Interpersonal relation skills.
  9. Leadership and management skills.

What is the Average Salary for a Property Management Job in Nigeria?

The average salary of a property manager in Nigeria is NGN300,000 per month. The pay could be more or less, depending on location, level of experience, and type of establishment. Private establishments typically pay property managers more than government-owned parastatals.

Where can a Property Manager work in Nigeria?

A property manager can be hired to work with a financial institute, a research firm, a healthcare organization, a manufacturing company, or even a school. A property manager can also be hired by an individual who has multiple properties, to oversee their management. Property management is not an industry-specific career path, all properties need to be managed by someone, regardless of their purpose. Some agencies also specialize in hiring property managers on behalf of property owners.

Entry-level Jobs in Property Management Include:

Administrative Assistant

An administrative assistant is in charge of receiving incoming calls, attending to walk-in clients, booking appointments for apartment tours, and entering information into the database system. In summary, the administrative assistant manages general office work and takes care of all paperwork.

Assistant Property Manager

Duties of this role include; keeping a record of the agency’s expenses, receiving and processing payments of property fees, interacting with prospective clients and tenants directly, and addressing any complaints. He oversees the property management agency’s external relations. The assistant property manager works alongside the property manager.

Bookkeeper

The bookkeeper is in charge of documenting payments. This professional handles all paperwork regarding the property’s finances and prepares financial reports for the property manager and owner’s review periodically.

Other Job Positions in Property Management Include:

Site Manager

The site manager is responsible for overseeing building and construction projects to ensure that they are finished on time and within budget. His services are employed by the property manager in landscaping and the development of landed properties.

Regional Manager

This professional oversees the workflow and productivity of other staff in the agency within a particular region.

Asset Manager

Asset managers are tasked with the responsibility of effectively managing the company/client’s financial assets so that they yield good returns on investment. Assets refer to shares, stocks, money, and the like.

Real Estate Director

The real estate director is responsible for coordinating site selection and overseeing new project deals.

Property Acquisition Specialist

This professional works hand-in-hand with the property owner to find profitable properties and strategize purchase plans.

Transactions Manager

In this role, the professional manages transactions and monitors lease agreements.

Remote Jobs in Property Management Include:

  1. Assistant property manager
  2. Property Insurance manager
  3. Accountant.
  4. Leasing Agent

How to get a Job in Property Management

  1. Search for job listings in property management on Job search sites.
  2. Get mentorship.
  3. Apply for internships to gain experience and encourage referrals.
  4. Apply for entry-level positions and work your way up.

Take Home

Property management jobs require expertise in different fields and knowledge of a little of everything; accounting, IT, legal policies, marketing, and so on. The job can get demanding, but if you plan to pursue a career in Real Estate, Asset Management, or other related fields, it is a great place to start.

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Okwanuzor

Oputa Okwanuzor is a freelance writer skilled in the art of weaving words into stories for brand boost through copywriting, or make a soothing read using creative writing. In her free time, she loves to share personal development talks, fashion inspos and writing tricks on her blog.

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