Property managers are an essential role at any real estate agency. Property managers play a crucial position in maintaining all aspects of a rental property, maximising its value, and return, for the property owner. Their primary role is ensuring rental properties are well-maintained, occupied by responsible tenants, and generating rental income.
Property managers provide a real estate agency with consistent income through monthly fees charged for the management of rental properties. Real estate agencies are always on the lookout for good property managers to manage and retain clientele.
A property manager has several key duties:
1. Relationship management
Nurturing relationships with effective communication is paramount for building and maintaining relationships with property owners, tenants and vendors. Promptly addressing inquiries, concerns and maintenance requests fosters trust and a positive dynamic.
2. Time management
As a property manager it is likely you will have a range of diverse tasks that you’re responsible for everyday. To be successful it is important that you can prioritise and delegate tasks and also employ technology, automation and proactive maintenance where possible.
3. Finding Tenants
Property managers are responsible for the acquisition of tenants through advertising vacant rental properties. This involves tenant screenings, essentially background checks to ensure prospective tenants are reliable and financially capable of paying rent.
Additionally, if a tenant moves out, the property manager will oversee the vacating process, conducting move-out inspections, handing the tenant’s bond, and organising any preparation required for the new tenants.
4. Lease Management
When a suitable tenant is found, the property manager is in charge of developing and managing their lease agreement, acting as an intermediary between the landlord and tenants. Overseeing this agreement will ensure all contractual obligations are met, the lease terms are fair and compliant with the local rental regulations.
5. Property Maintenance
Keeping the property safe and in a reasonable condition is key. A property manager will regularly inspect the property, addressing any issues and coordinating relevant repairs and maintenance. When necessary, landscaping and pest control may also be scheduled by the property manager.
6. Compliance and Legal Responsibilities
It is key to adhere to any relevant laws and regulations when leasing a property. This responsibility falls onto the property manager. Property managers are often well versed in the legislation governing rental properties in their region.
7. Property Owner and Tenant Relations
Property managers act as the main point of contact for both the landlord and tenants. Property managers must regularly communicate with the landlord and tenant to ensure both parties are satisfied with the property’s condition, rental performance, and any important issues related to the property.
8. Emergencies
If any emergency or urgent issues arise, such as floods, fire, or security breaches, the property manager should be available to provide the necessary response and solutions.
Property managers oversee all aspects related to the renting of a property, ensuring the home is maintained, compliant, and maximising the value for the property owner. Acting as an intermediary between landlords and tenants, property managers ensure both parties’ needs are met, and the property operates smoothly. This role is crucial in real estate agencies as property managers often act as the consistent income earner, while real estate agents are more prone to market conditions.
How Do I Get Started As A Property Manager?
To become a property manager, you’ll need to complete a course and then apply to your government regulator for the state or territory you’ll be working in.
Depending on where you are located, the course and unit requirements to become a certified property manager will vary. Make sure the course you do undertake is a nationally recognised qualification delivered by a registered training organisation (RTO) and contains the correct subjects/units of learning.
Property Management Course For Victoria
We recommend starting with the Agent’s Representative Course (18 units from the CPP41419 Certificate IV in Real Estate Practice). This course will teach you the basics and allow you to start work in Victoria as an Agent’s Representative who can perform a range of sales and property management functions.
Upon course completion, you will receive your certificate for property management. There is no need to apply to the regulator, Consumer Affairs Victoria. Just make sure your employer registers you as an Agent’s Representative when you start your employment.
Property Management Courses For New South Wales
To work as a property manager in NSW, you must complete the first five units of Certificate IV in Real Estate Practice which is called a Certificate of Registration Course or Assistant Agent Course. After successful completion of this course, you can apply to NSW Fair Trading to obtain your certificate of registration to start work as an assistant agent/property manager in a real estate agency. Once starting work, you’re required to complete the remaining units from the Certificate IV in Real Estate Practice, and at some point upgrade to a full real estate licence, also referred to as a Class 2 Agent in NSW.
Property Management Courses For Queensland
In Queensland, you have two different options starting out. One is to do the Real Estate Salesperson Course (12 subjects, which doesn’t just cover sales but also includes property management!) or complete the full Real Estate Licence Course (19 subjects) if you want to eventually work for yourself. Otherwise, if you are just starting out or want to become a property manager in Queensland then the Real Estate Salesperson/Registration Certificate Course is more than suitable. Once you have successfully completed your course, you will apply to QLD Fair Trading to start work as a property manager.
