Property managers work as the liaison between landlords and tenants in properties all over the world. Because so many landlords have multiple properties in their ownership, and because those properties may be in several different cities, they need qualified managers to do the hands-on work that they can’t always handle themselves. Working in this field has its own unique pros and cons, and it’s important understand these fully before pursuing a career in property management.
Pro: Never a Dull Moment
As a property manager, you can rest assured that your work will never become boring or stale. Property managers wear several hats, and their work often carries them to different locations multiple times every day. You’ll meet people from widely varying backgrounds, and interesting individuals of all personality types. There will be a range of tasks in your charge, from marketing to paperwork, from tenant negotiations to creative problem solving. There is never a dull moment in the world of property management.
Con: Work Follows You Home
As exciting as work may be as a property manager, you may find it off-putting that it is difficult to get away from your work. Property managers put in long hours every day, and their work often follows them home. Expect to work nights, weekends and even holidays when the need arises. If an emergency develops in the middle of the night, you’ll be responsible for handling it on the spot. Most of your work will be done during regular business hours, but remember that there is no set schedule for a property manager.
Pro: A Market Full of Options
Property managers are in high demand today, and opportunities are available in almost every city in the world. More and more investors are branching out into real estate, and as their assets grow, so does their need for managers. Furthermore, there aren’t many people qualified to handle work like this kind of work; this means that you’ll be valuable in the real estate business wherever you go. Enjoy job security and the assurance that there are plenty of opportunities available for property management professionals.
Con: Limited Opportunity for Advancement
Unfortunately, as abundant as property management opportunities may be, opportunities for advancement in the industry are typically more scarce. To put it simply, there isn’t much room for promotion in property management. Some industries lend themselves to ladder climbing and career advancement, but most property managers don’t see this kind of potential for advancement within the field. You’ll need to be more active in seeking out new opportunities to advance your career if your work in property management.
Pro: Develop Valuable Real Estate Skills
Property managers gain huge amounts of experience in real estate, learning skills which few other people in the world have a chance to develop. These skills can be put to work in many ways. You could advance into work with a real estate agency like Movoto, or go into business for yourself as an investor. The skills you learn as a property manager will serve you well in life, making the experience highly valuable now and in the years to come.