Property Manager

Tasks & duties

Property managers may do some or all of the following:

• discuss marketing proposals for advertising properties with property owners
• advertise properties
• show properties to prospective tenants
• make checks to ensure the suitability of the tenant for the property
• negotiate and secure leases and tenancy agreements with tenants
• collect rents and lodge bonds
• ensure that tenants abide by lease provisions
• monitor rent arrears
• attend tenancy tribunals when necessary
• investigate and resolve any complaints by tenants
• review property maintenance, security and tenancy contracts
• inspect the properties for water damage, disrepair, and health and safety issues
• arrange for tradespeople to attend to repairs
• organise quotes for renovation work on behalf of the landlord
• keep up to date with property acts and by-laws (such as the Residential Tenancy Act)
• write reports for the property owner
• pay various property fees
• provide monthly statements to property owners to account for rent payments
• compare properties, look at the overall market and ensure that tenants and owners are maximising their investments

Commercial property managers also help property owners on strategic planning, such as ways of adding value to the property, and financial reporting on issues such as forecasting or aligning income and budget. Many also provide consulting services on issues such as business relocations.

Specialisations

Property managers specialise in different markets:

Residential property manager

Within the residential sector, property managers may specialise in property inspections and related tasks such as following up any maintenance issues they discover. They are usually called rental agents. They liaise with the property manager in the office who may specialise in marketing and communication for the same property

Commercial property manager

Within this sector property managers may further specialise in industrial properties. These include warehouses, office buildings, retail properties such as supermarkets or shopping centres, hospitality properties such as hotels, and tourist attractions. Some commercial property managers may become a portfolio or asset manager, which means they deal less with the day-to-day management duties and more with the strategic overview of properties such as financial forecasting or implementing value added strategies.

Skills & knowledge

Property managers need to have:

• skill in evaluating client and tenant needs
• knowledge of property inspection and valuation
• understanding of building methods and materials, and architectural and engineering plans
• knowledge of property laws, such as the Resource Management Act and the Building Act 2004, and local regulations
• knowledge of the real estate market
• excellent communications skills, including good listening skills
• writing skills
• analytical skills
• decision-making skills
• excellent planning, organisational and time management skills

Trade skills, such as plumbing or carpentry, may also be useful.

Entry requirements

There are no specific entry requirements to become a property manager. However, some employers prefer you to have a degree or diploma in property management, finance or marketing, or if you are working in commercial property management, experience in professional areas such as law, construction or accounting and finance.

Sales and real estate diplomas or certificates are also useful. For further information contact the Property Institute of New Zealand (PINZ).

Secondary education

A tertiary entrance qualification is required to enter tertiary training. Useful subjects include English, maths, computer studies, economics and physics.

Training on the job

Skills are gained on the job. Property managers can attend courses and seminars to update their skills and knowledge, and many larger property firms provide in-house training.  Property managers may also attend police seminars to receive updates on current issues.

Registration

Some property managers are registered with the Property Institute of New Zealand (PINZ). To do this you need to have an accredited property degree.

Useful experience

Useful experience for property managers includes work in the building industry, real estate, property investment, valuation, quantity surveying, or finance and administration. Any work that involves direct communication with clients is also useful.

Related courses

Business Management
Real Estate

For more information, please refer to Career Services.