The real estate management industry is growing and expanding, but it’s also a highly competitive field. Property owners and property management companies want experienced, skilled professionals to ensure successful outcomes with industry best practices, satisfied clients and profitability.
Managers must provide multifaceted financial reports, create emergency procedures to protect people and property, comply with changing governmental regulations, understand new lease provisions and terms, manage staff and contractors, and know how to operate properties in an environmentally sustainable and cost-efficient way.
Which Courses Should You Take?A variety of courses are available that support advancement for a career in real estate management. Some of the study areas to consider include the following:
Finance courses: develop analytical and computer skills; gain knowledge of basic financial and accounting principles. This area of knowledge helps to maximize the value of properties and consistently deliver forecasted returns for owners and investors.
Marketing and leasing courses: learn the legalities and processes of property leasing and marketing properties multi-family or office properties.
Property management courses: increase the management performance of your residential, office, co-op or planned unit developments by enhancing your knowledge in the areas of planning, implementing, and monitoring property maintenance operations with a focus on high standards of managing the physical aspects of a property.
Leadership and human resources courses: develop strong interpersonal skills and business management skills; and realize your leadership strengths in areas such as governance, selecting the right people for staff positions, and maximizing the productivity of your staff.
These are just some of the areas individuals must focus on to advance their skills to successfully manage real estate. The skilled property manager ensures satisfied tenants, continued profitability, manages the day-to-day operations, and advises the owner.