New Property Manager, Looking for advice

[Jennifer Barr]

Hello all!

So I recently worked my way up from Assistant Property Manager to Property Manager now, which is great. However, the pay is not. I am currently working towards my bachelors but that is 3 years away. In the meantime, what should I be doing to raise my worthiness as a property manager? I feel like I put the hours in, I am quick to respond and have had no complaints thus far.  I love everything about the world of Real Estate, but my passion is Property Management and currently all I deal with is Condo Associations, not my first choice, but it works. 

So how did all of you move up in the world of property Management? I have my Real Estate License, but what other education should I do? Are there any certifications that would benefit me, or Associations I should belong to to up my worth? Right now, I don't feel like I can do this for the rest of my life for 12.50 an hour. But maybe that's just the norm...

[Jean Norton]

First, think like an entrepreneur - who has the most pain with property management?  Most likely out of state landlords, or landlords that are just tired.  You might look at the "for rent" ads and reach out to any that are not already represented by a property manager.

The average I hear is that property managers keep 10% of the monthly rental.  So if rents in your area are $1000/month per door, then you will need 10 doors to gross $1,000/month - so target what you are capable of what you can do on your own, without disrupting your current job.

Good luck!