With the size of the real estate industry in Australia expected to reach a value of US$7.92 trillion by 2024 (Statistica), it’s no wonder that a growing number of Australians are considering a career in real estate.
Property managers offer an underrated career path—where you get to oversee diverse real estate portfolios and develop strong relationships with tenants and property owners.
What does a property manager do?
A property manager oversees the overall operation and management of a property on behalf of the owner. As part of their role, a property manager works to achieve the desired goals of the owner – from renting it out to tenants to ensuring it is kept in good condition through rental tenancies.
A property manager will also be responsible for:
- Arranging works for property maintenance
- Ensuring that the property complies with state property laws
- Finding and screening tenants
- Collecting rent from tenants
- Addressing tenant concerns
- Conducting regular property inspections
Reasons why you should become a property manager
High earning potential
As a real estate profession, property management can command relatively high earnings, especially in metropolitan areas with higher demand and real estate activity.
According to seek.com.au, the average annual salary for a property manager in Australia ranges from $70,000 to $85,000. In cities like Sydney and Melbourne where there is significant demand for property management services, this earnings range stands at $80,000 to $95,000.
Similar to real estate agents, a property manager’s earnings are tied closely to the quality and number of their clients; a more experienced property manager with a larger base of high-profile clients can potentially earn even higher amounts than indicated in the average salary range.
Work in an ever-growing industry
Property managers make up a major segment of the real estate industry, with over 40,000 employees and 10,000 property management businesses operating across the country (Residential Property Leasing and Management in Australia – Market Research Report, IBIS world).
Coupled with the current positive trend of growth for the real estate industry in Australia, there is a rising demand for property managers — urbanisation, population growth, and the continued expansion of rental markets in developing regions are factors that point towards the future need for skilled property management services.
Flexible working hours
Property managers divide their time equally between office work and on-site responsibilities, working outside the office to manage properties, meet with tenants, and oversee maintenance tasks.
The nature of the job means working hours for a property manager are usually flexible compared to the traditional 9-5 working schedule. Working hours are usually arranged around client appointments or meetings can occur after 5 pm or on weekends, allowing property managers to allocate the rest of their time for personal activities.
This means that there’s a fair bit of autonomy involved, but there’s certainly a lot of potential for achieving a healthy work-life balance.
Learn transferable skills
Becoming and working as a property manager can help you gain a solid foundation for advancing your career in the real estate industry. In fact, many real estate professionals with lucrative careers have a background in property management.
As a property manager, you’ll be exposed to specialised knowledge about real estate, from investing to market insights. This knowledge can be invaluable should you choose to advance your career in real estate or even when it comes to owning your own property in future.
Aside from real estate-specific skills, you’ll also meet and work with people from all walks of life, helping you develop essential communication and people skills that can apply to any other profession.
How to start your career as a property manager
So, how do you become a property manager?
Step one is getting the right qualifications, knowledge, and practical skills for working as a property manager. Each state in Australia has their own requirements that individuals must meet before being able to work as a property manager:
- New South Wales & Australian Capital Territory (Under supervision of a licensed agent) – Assistant Agent
- Victoria – CPP41419 Certificate IV in Real Estate Practice
- Queensland – Resident Letting Agent Licence
- Western Australia – Restricted Property Management Registration
- South Australia – Property Manager Registration (PMR)
Attaining these qualifications is a necessary part of your journey to becoming a property manager. If you are ready to start your career as a property manager, enrol in an Entry Education’s online real estate education courses to learn the ins-and-outs of property management. Our real estate courses are trusted by industry leaders and are designed to be completed at your own pace. Contact us today to learn more about which course is right for you, or enrol with us to get qualified as a property manager in Australia!
