Property management is one of those sectors that faces change quite a lot. With the issues of climate change and environmental changes becoming a large part of managing property, there are a few different aspects to what may seem like an otherwise straight forward role.
In all honesty, there is no such thing as a straight forward job but we do what we can! If this is an area of interest to you, then keep reading.
What is Property Management?
Property management refers to the overseeing, and managing of properties or a group of properties on behalf of a landlord or management company.
Property management is important as it helps to make sure everything runs smoothly within the property. It helps to screen out problem tenants, market rental properties, ensure rent is paid on time as well as being able to run a property in an environmentally friendly way.
What does a property manager do?
A property manager is an individual hired by the property owner and acts on their behalf in overseeing and managing the daily operations of the property/properties. They also help to preserve the value of the property while generating income. Some general duties of property manager include:
- Negotiate contracts
- Prepare agreements for tenants
- Manage properties
- Arrange water, gas, electrical checks
- Liaise with owners to keep them up to date
- Prepare daily correspondence
- Cover secretarial and administrative functions
- Make sure equipment is fixed when broken
- Resolve issues with tenants, equipment, supplies in a timely manner
There are a few different courses to choose from across the UK. Some courses offer the opportunity to study either part time or full time. Examples of courses you can avail of are:
Real Estate and Property Management
In real estate and property management courses, students will be equipped with the skills and knowledge to manage properties in both public and private ownership while considering the environmental considerations of development and management. Students will also learn how to make good property management decisions that take legal, economic, facilities management and planning variables into account.
A course in real estate will allow students to gain the relevant skills and knowledge to have a successful career in the industry. It aims to help students to understand the valuation, appraisal, strategic management and development of commercial and residential property assets. Students will be provided with technical knowledge and essential, practical and transferable skills in order to enhance their chances of employability and provide a service of a high standard.
Environmental Assessment and Management
Courses in this area look at a slightly different side of property management. Students will gain an understanding of the environmental implications of development action as well as the social, political and economic issues in relation to the environment. Those who choose a course in environmental assessment and management will have the opportunity to work in fields such as planning, urban regeneration and environmental management and while it is not exactly related to just property, the knowledge gained can help moving forward in managing future properties.
Real Estate and Planning
Real estate and planning courses provide the knowledge and skills for students to have a career in planning in relation to the development of property. These courses look at economics, valuation, planning, law, regeneration and sustainability principles. While it is not a course that will provide exact qualifications as a property manager it might be of interest to people already working in the field or working in conjunction with property managers, planners or developers.
Entry requirements differ from course to course and university to university. The majority of courses in this area require a second class honours degree in a related or relevant field. Some courses may require a 2.1 degree while others may only require a 2.2. Degree. Having basic math and English skills are important in property management. Research on each course is important to ensure you meet the entry requirements before applying.
Examples of jobs in this field are:
- Property manager
- Property development
- Environmental impact assessment
- Property planning
The salary expectation can depend on the route you decide to take. As seen above in the course options, there are a few different course types under the same umbrella. The average salary of a property manager in the UK is £24,145. Salary can change with experience.
Skills and requirements
- Strong communication skills
- Good negotiator
- Confident and responsible
- Strong leadership skills
- Attention to detail
- Problem solver
- Make good decisions
- Work off own initiative
- Skills in administration and information technology
- A good manner when working with clients