Property Manager Job

[Steve Karpinski]

I have an opportunity to take a job at a residential property management company at a lower position but they told me after one year if I pass the test I can move up and become a property manager. I am curious what the pros and cons of a property management job are? I have never thought about this as a career choice until recently because I want to get into real estate investing. I think it could be a great way to get experience in managing properties obviously but to also meet other investors as well as have an in with finding deals and getting my investment career going. I have heard that property management can be a tough job so just wanted some feedback. Thanks

[Kim Meredith Hampton]

I have been in PM for just over 20+ years, and even did multi family for a few years prior. Dont want to scare you, but wanted to be honest. PM is a very stressful job, work 24 hours a day, deal with unhappy tenants and owners who dont want to hear from you about ANOTHER expense for their property. You are responsible for renting the property, marketing, running comps, processing the rental application, knowing all of the statutes, local municipalities and what each HOA or COA want and need from your applicant and want you can and cant do in the neighborhood, preparing lease agreements, collecting rent, posting 3 day notices, dealing with the ever ending excuses of why they cant pay, conflict resolution, evictions, maintenance calls 24/7, finding decent licensed and insured vendors, property inspections, move outs, processing security deposit claims, accounting, the list goes on and on....The funny part is that ALL of this can happen in one day and more.... So many think just collecting rent and unclogging the toilet are all the property manager does and that its easy!! SOOOOO far from the truth. I havent even mentioned the tenant who dies in the property, leave behind all of their crap (abandonnment) or the tenant the refuses to leave and on eviction day, you are there with your eviction team the entire day while your phone and email is going nonstop.

Now that I have scared everyone, I would never do anything else!!! May sound crazy, but I love this crazy business. I love that its never the same day twice, and I have met some of the best owners, who are extremely grateful for what you do, the tenants that are beyond happy because you found them a place to call home, and learning and serving organizations that specialize in property management. 

Get your RE License, you will be happy that you did, network with the people you meet taking your course and find where you fit in the umbrella of Real Estate.

I wish you all the best