What does a Real Estate Manager do?
Real estate managers oversee commercial and residential property operations and are responsible for maintaining the premises while increasing its curb appeal and value. They may provide services for multiple buildings or locations and train and supervise staff members and groundskeepers. They handle the property’s financial operations, including collecting rent or sending delinquent notices and preparing and maintaining financial statements. They update property owners on its status, informing them about occupancy rates, lease expirations, and other issues, and sometimes consult with them about rent charges.
Real estate managers collect association and homeowners fees and pay for services including a playground or swimming pool and their maintenance. Real estate managers negotiate contracts for third parties including janitorial, security, landscaping, and other services and purchase supplies and equipment for the property. They hire contractors to perform repairs and supervise maintenance staff and plan and direct the purchase, sale, and development of real estate properties on behalf of businesses and investors. Real estate managers need a bachelor's degree in real estate, finance, or business administration.
- Monitor work order system, create and follow up on all calls.
- Lead, build and manage the real estate function including real estate, design, and construction.
- Ensure files, production orders, and flow are in compliance with all regulations.
- Mentor and coach team members to further develop competencies.
- Locate and acquire new properties to meet client's requirements and timeline.
- Draw upon the analysis of others and make recommendations that have a direct impact on the client.
- Forecast management plans and prepares monthly performance, explaining variances.
- Assist in preparing and delivering timely, accurate and complete reports.
- Ensure that all customer and bank guidelines, policies, and procedures are followed as they relate to operations, internal audit and security, and general management practices.
- Collect rent and pay expenses in compliance with lease terms.
- Manage transaction process including review of property due diligence and negotiation of legal documentation.
- Bachelor's Degree in business or computer science.
- Extensive experience creating and managing leases.
- Exhibit strong leadership and problem solving skills.
- Well-versed in general ledger practices and principles.
- Demonstrated market and product knowledge.
- Sound business acumen and attention to details.
Real Estate Manager Salaries
Average Base Pay
Real Estate Manager Career Path
Learn how to become a Real Estate Manager, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Average Years of Experience
Real Estate Manager Insights
“This was the best experience I could have asked for; I am very grateful for this internship.”
“Good development opportunities and friend”
“Good and friendly people to work with.”
“I had no training and the job description didn't describe what I was actually doing once I started working.”
“Enjoyed my two years with Better But was impacted along with so many others in the lay offs”
“Good learning experience and intro to what certain jobs do”
“Professional development opportunities and care about your career growth”
“Great place to work and a wonderful Boss!”
Real Estate Manager Interviews
Frequently asked questions about the role and responsibilities of real estate managers
The typical day of a real estate manager involves the management of the day-to-day operations of residential and commercial properties. They may spend their days screening renters, marketing properties, or managing repairs. They are often the primary point of contact when a property owner or renter has concerns with a property.
Yes, real estate management is a good career. These professionals are often in demand as property owners may not have the time or resources that are necessary to manage their properties. A rewarding aspect of being a real estate manager is that they play an integral role in maintaining the condition and value of residential and commercial properties.
Working as a real estate manager can be challenging at times. One of the difficult aspects of being a real estate manager is that they may have to respond to late-night calls or manage disputes between renters and landlords. This is why becoming a real estate manager requires excellent problem-solving skills.