If you own an investment property, you’re probably familiar with how much time and effort it takes to maintain it.
And aside from the physical maintenance of the building, you also have to find tenants and ensure they’re satisfied with the living conditions throughout the entire duration of their lease. In most cases, this type of time commitment just isn’t realistic. That’s why most real estate property owners hire help in the form of a property manager.
Property manager duties
The primary responsibility of a property manager is to run and maintain all aspects of a rental property. This includes advertising the property to find suitable tenants, drafting lease agreements, as well as preparing arrangements for necessary repairs and maintenance.
If you’re in the market for a good property manager for your building, it’s important to make sure you draft a strong job description that communicates exactly what you’re looking for to potential job applicants. This includes a detailed list of requirements, as well as in-depth information about what their day-to-day duties will be on the job.
Below, you’ll find three examples of an effective property manager job description. Although there are many overlapping responsibilities, each of these templates is a bit different.
|TIP: Every rental property has unique characteristics, so feel free to use these examples and make them your own. If your property requires extra care or maintenance, make sure you include that. It’s best to be as specific as possible to attract the most qualified talent.|
Property manager job description
Behind every well-maintained, profitable rental property is a good property manager. But finding a person with the right experience and qualifications to manage your building can be challenging. To help you get started, use the templates below to craft your own property manager job description.
Example 1: Your basic, go-to template
With any job description, you’ll first need to include basic information including the job title, company name (if applicable), type of position, and location. For this example, we use a fictional company called The Chicago Property Group.
Title: Property Manager
Company: The Chicago Property Group
Location: Chicago, IL
Employment type: Full-time
About the position: The Chicago Property Group is looking for a full-time property manager to join our team based out of Chicago, IL. We offer competitive pay, paid time off, and an expansive benefits package that includes medical, dental, and 401k plans for full-time employees.
- High school diploma or equivalent required. College degree preferred.
- Previous experience in finance, management, or real estate.
- Excellent knowledge of local and federal real estate laws and property regulations. Real estate license preferred, but not required.
- Proficient in Microsoft Office software.
- Previous experience with property management software preferred, but not required.
- Strong organizational skills and the ability to handle sensitive financial and legal documents.
- Excellent communication and customer service skills.
- The ability to work independently with limited supervision.
- Create, update, and maintain online rental listings.
- Advertise and market rental listings through relevant channels to attract qualified tenants.
- Facilitate property showings with prospective tenants.
- Draft, administer, and enforce leasing agreements.
- Resolve tenant complaints and facilitate eviction proceedings, if necessary.
- Schedule necessary maintenance and repairs to ensure the building is running in good condition.
- Oversee the day-to-day operations of the property and maintain positive tenant relations.
- Responsible for handling all operational expenses including property taxes and maintenance bills.
- Keep record of property financial statements and report them to the landowner once a month.
- Communicate with the landowner on property matters related to the tenants and condition of the building.
Example 2: Residential property manager job description
A residential property manager handles buildings that are occupied by individuals or families. This next example is a job description that is specific to a property manager for a residential space.
Title: Residential Property Manager
Company: RMK Management
Location: Chicago, IL
Employment type: Full-time
- Must have a leasing license. High school or equivalent education and 2 years residential property manager experience.
- Above average ability to communicate with clients both verbally and in writing.
- Basic personal computer skills and ability to learn specialized software use.
- Skill to convince prospective residents of the advantages of living at a community by sales closing methods.
- Ability to work a varied schedule, including weekends and some holidays as required.
- Ability to learn and comply with industry legal requirements, especially related to federal and local Fair Housing Laws.
- Ability to travel off-site for training courses and outside marketing.
Duties and responsibilities:
- Hire, train and be responsible for all work performed by staff members.
- Assist in achieving financial and operational goals through better leasing performance.
- Monitor daily traffic to listings. Submit recommendations as to what advertising is working and what you feel is needed in order to generate more traffic.
- Purchase necessary supplies.
- Handle dispositions, send all outstanding delinquent accounts to collection agency on a timely basis.
- Monitor and supervise rent collections.
- Compile monthly reports advising on the status of the property.
Example 3: Commercial property manager job description
A commercial real estate building may require more advanced property management skills and experience since the ideal candidate will often be working with more complex financials for much larger properties.
Below, you’ll find an example that is tailored for a commercial property manager:
Company: Jones Lang Lasalle
Location: Rosemont, IL
Title: Commercial Property Manager
Employment type: Full-time
Knowledge, skills, and abilities
- Ability to read, analyze, and interpret legal documents
- Ability to effectively present information and respond to questions from senior level management, clients, customers, peers and the general public.
- Ability to calculate figures and amounts such as discounts, interest, commissions, prorations, percentages, basic calculation of measurement of rent, parking fees, late fees, and volume.
- Ability to define problems, collect data, establish facts, and draw valid conclusions.
- Proficient knowledge of Microsoft Office/Suite, and any other software program or piece of technology identified as standard for Jones Lang LaSalle.
- Develops, gains consensus for, and implements the Management Plan for assigned assets.
- Supports in the preparation of lease and/or rental agreements and is responsible for lease administration process. Assist in managing tenant option rights and information.
- Employs or contracts for onsite management and engineering personnel, as delineated within the operating budget, management plan.
- Identify and initiate process improvements for all current property systems.
- Oversees completion of monthly, quarterly, and annual owner’s reports.
- Prepares the final budget documentation. Plans and administers budget for the office building(s).
- Works to manage the accounting process and directs on-site bookkeeping functions and collection process.
- Prepares adjustments to tenant billing process.
- Reviews and approves all accounts payable
- Prepares and reviews financial statements and reports on the status of office buildings such as occupancy rates and dates of expiration of leases.
- Prepares and/or reviews financial reports for clients on monthly, quarterly and annual basis complying with requirements in management services agreement.
CLIENT / TENANT SERVICES
- Arranges for alterations to, or maintenance, upkeep, or reconditioning of facilities as specified in the operating budget, management plan and of leased premises as dictated by lessee's agreement.
- Maintains role as a secondary contact for tenants relative to tenant service requests.
- Proactively meets with tenant representatives on a scheduled basis.
- Prepares and reviews periodic inventory of building contents and property condition, and forwards listing to client for review.
- Develop and implement a tenant retention program.
Time to start hiring
Property management is essential to any successful and well-kept residential or commercial real estate property. Armed with these resources, you’ll be on your way to finding a qualified property manager to oversee your building in no time.
Once you find the right candidate, you’ll want to make sure that they’re armed with the right tools to succeed. Explore property management software and read unbiased reviews from users to find which solution will be the right fit for your business.