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Property Administrator Duties and Responsibilities
The duties and responsibilities of a property administrator will vary from company to company, but there are some duties the majority of property administrators will be required to complete on a regular basis. Property administrators are usually expected to do the following:
Show Properties Property administrators are often required to meet with prospective tenants and show them around a property. During the tour, they will answer any questions from the prospective tenants and discuss the application process.
Collect Fees Collecting rent or home owner's dues (usually on a monthly basis) is a part of almost every property administrator's job. They ensure all tenants pay their rent in a timely manner, and they may make payment arrangements for those who cannot. If a tenant does not pay, the property administrator may be responsible for sending out an eviction notice.
Arrange Repairs and Maintenance If homes or apartments in a community wish to retain their value, they must be properly maintained. Property administrators are often responsible for ensuring repairs are made, the grass is cut, buildings are painted, and the neighborhood remains aesthetically appealing.
Handle Tenant Complaints Property administrators are usually responsible for resolving minor neighborhood disputes between tenants or neighbors. Most neighborhoods allow tenants to place complaints, which are usually related to noise, garbage, parking, and yard maintenance. Property administrators are expected to resolve these issues in a timely and professional manner.
Pay Contractors Property administrators typically do not handle upkeep themselves. Instead, they hire contractors to cut grass, paint, and perform other maintenance tasks. The property administrator will pay these individuals, and they may have permission to negotiate prices with them.
Property Administrator Skills and QualificationsProperty administrators should enjoy working with others and performing a variety of administrative tasks on a daily basis. Licensing and educational requirements vary by employer, but most individuals in this role have at least an associate's degree or equivalent experience. When hiring a property administrator, companies will often look for individuals who possess the following skills and abilities:
- Managerial Experience - managing a community can be hard work, and more than likely, property administrators will be tasked with overseeing other workers. To do this effectively, they will need supervisory or managerial experience
- Knowledge of Basic Bookkeeping Practices - property managers keep track of countless financial documents and they are responsible for paying contractors, collecting rent and fees, and filing any documents they receive. To do this, they must be comfortable performing basic bookkeeping tasks and using spreadsheets and other simple accounting programs
- Real Estate Knowledge - property administrators are tasked with overseeing entire communities, so they should have an elementary understanding of real estate concepts. They may even be required to work with realtors from time to time
- Communication Skills - excellent written and verbal communication skills are required for the role of property administrator. Administrators should be capable of convincing prospective tenants to join the community. They should also be able to resolve disputes between tenants peacefully
- Leadership Skills - most property administrators are responsible for supervising other employees. To do this successfully, they should be confident and know how to delegate the right tasks
Property Administrator Education and TrainingTo become a property administrator, most individuals will need at least an associate's degree from an accredited community or technical college. To advance to a higher career level, a bachelor's in real estate, business management, or marketing may be required, but some companies accept equivalent experience. During their associate studies, an individual will usually take courses in writing, critical thinking, mathematics, introductory level real estate, accounting, finance, and management.
Property Administrator Salary and OutlookThe Bureau of Labor Statistics (BLS) states the median annual salary of a property administrator (listed under property and community managers) is $58,670. Property administrators with earnings in the top tenth percentile grossed more than $128,630 annually, and those in the lowest tenth percentile earned $29,500 annually. Property administrators may also earn additional bonuses, as well as benefits packages that include paid vacation, health and disability insurance, and even stock options at some companies. The property administration industry is expected to grow by 10 percent through 2026, which is three percent higher than the national average of seven percent. This increase is largely attributed to an increased demand for single-family housing over the next few years.
Are you interested in learning more about the property administration industry? We have compiled a list of reliable resources for those interested in the field below.
National Association of Residential Property Managers (NARPM®) - NARPM® is an exceptional resource for individuals interested in
residential property management. The organization's website offers a variety of educational resources for individuals interested in the field, as well as those who already work as property administrators. Visitors to the website will have the opportunity to join a chapter in their community.
The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits - written by husband and wife management team Brandon and Heather Turner, this book outlines ways to simplify the property management process. This book is written for individuals who already work in the field, but those who are interested can gain access to the inner-workings of the property administration industry.
Property Management Kit for Dummies - in this book, Robert S. Griswold provides basic strategies for handling tenants and properties more efficiently. The book is a part of the famed "Dummies" line of reading materials, so the concepts are presented in an easy-to-understand and concise manner.
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