Real estate managers oversee the operational aspects of properties. They prepare financial statements, supervise maintenance workers, and negotiate contractor, supplier, and vendor contracts. They may also determine rental income rates.
Real Estate Manager Responsibilities:
1. Managing the purchase, sale, rental, or development of properties.
2. Monitoring real estate income and expenditure, as well as collecting payments.
3. Determining rental income and negotiating lease agreements.
4. Authorizing maintenance, repair, equipment, and supply expenditure.
5. Negotiating contracts with vendors, suppliers, and contractors.
6. Overseeing maintenance workers, cleaning crews, contractors, and groundskeepers.
7. Keeping owners informed on taxes, occupancy rates, and lease expiration dates.
8. Resolving complaints from residents and tenants.
9. Preparing financial statements and records.
10. Reporting to real estate owners and investors on a regular basis.
Real Estate Manager Requirements:
1. Bachelor’s degree in real estate, finance, business administration, or project management.
2. A minimum of five years of experience in project management, real estate, or a similar role.
3. Extensive experience in managing property purchases, sales, rentals, and development.
4. Proficiency in real estate management software, like Buildium and AppFolio.
5. Experience in managing payments, negotiating contracts, and determining rental rates.
6. In-depth knowledge of applicable property law, taxes, and financial statements.
7. Knowledge of property maintenance and procurement of vendors and suppliers.
8. Ability to resolve resident and tenant complaints, as well as supervise workers and contractors.
9. Advanced ability to keep property owners and investors updated.
10. Excellent leadership and communication skills.