Property Manager: What is the cost of hiring?

Why hire a property manager?

Property managers manage an extensive list of properties and ensure they’re taken care of.  A great property manager hire can help your business:

• Increase the number of properties it can maintain
• Provide excellent service to people interested in the property
• Increase the long-term revenue of your business

Deciding between a full-time vs freelance property manager

Real estate investors and businesses can hire property managers in both full-time and freelance capacities. One of the major factors that helps decide whether you should hire a freelancer or a full-time manager is the number of properties you own. If you only own one or two properties, you may not need a full-time property manager, making a full-time hire a fiscally irresponsible decision. If you own a lot of properties, managing them all may take enough time to justify a full-time property manager. 

Companies that offer property management services should have enough full-time property managers to take on the workload offered by their clients. 

What are the ranks of property managers?

Depending on the style of property management company, there are a few positions on the property management team. These jobs include:

• Maintenance coordinator: A maintenance coordinator is responsible for managing the company’s maintenance budget and hiring and scheduling maintenance workers to come in for necessary projects. 
• Leasing agent: Leasing agents work to find new tenants for recently vacated properties. They go through applications, perform background checks and choose the new tenant. Leasing agents also act as customer service liaisons for established tenants. 
• Assistant property manager: The assistant property manager works under the supervision of the property manager. They can be responsible for collecting rent, managing budgets and responding to tenant concerns. 
• Property manager: A property manager’s responsibilities can consist of the duties of all those below them. They oversee the work of the rest of the team and make major decisions regarding the properties and tenants. 

Where to find property managers

To find the right property manager for your business, consider trying out a few different recruiting strategies:

• Promote from within. If your company has recently lost its property manager, consider someone else from the team as a replacement. Examine their experience in the industry and their leadership skills to determine if they’d be a good fit for the position. 
• Hang help wanted signs. Post help wanted signs to alert the community to the open position. This can encourage members of the community to submit applications. 
• Search online. Experienced property managers may be advertising their services online. Look for quality candidates and set up interviews to gauge their level of skill. 
• Post your job online. Try posting your project manager job on Indeed to find and attract quality property manager candidates.

Skills to look for in a great Property Manager

A great property manager candidate will have the following skills and attributes as well as work experience that reflects:

• Management skills
• Ability to handle sales transactions
• Well organized
• Great people skills
• Responsible to handle day-to-day problems
• Positive Attitude

Writing a property manager job description

A thoughtful description is important to finding qualified property manager candidates. A property manager job description includes a compelling summary of the role, a detailed list of duties and responsibilities and the required and preferred skills for the position.

When writing your property manager job description, consider including some or all of the following keywords to improve the visibility of your job posting . These are the most popular search terms leading to clicks on property manager jobs, according to Indeed data:

• Property manager
• Property management
• Real estate
• Manager
• Apartment manager
• Community manager
• Management
• Leasing consultant
• Leasing agent
• Regional property manager

Interviewing property manager candidates

Strong candidates for property manager positions will be confident answering questions regarding:

• Property management software
• How handy they are
• How they can ensure well-maintained properties

Need help coming up with interview questions? See our list of property manager interview questions for examples (with sample answers).