Learn from the Pros: Using Networking to Plan Your Property Management Career

One thing is for certain about property management: it’s not a 9 to 5 paper-pushing kind of job. It’s also unlikely that one workday will ever duplicate the next. As a property manager, you’ll need a diverse skill set and knowledge base that includes basic accounting, real estate, and legal principals. If you thrive on thinking on your toes and enjoy constantly switching gears, this may well be the career for you.

Before diving in head first, you would be wise to educate yourself about what a career in property management entails, including your short- and long-term career outlook. Because property management requires such a diverse skill set, if the job is likely not a good fit for you it’s best to figure that out before investing time, effort—and perhaps even money—into creating a property management career for yourself. And if a career in property management is for you, the more research you do, the easier it will be for you to use that knowledge to prepare yourself for and identify the perfect job.

Begin by being honest with yourself. Do you enjoy working with numbers? Do you have a mind for legal matters and, if not, do you enjoy researching such topics and do so quickly and accurately? Do you enjoy working closely with people and does the idea of working with a diverse set of people excite you? How are you at problem solving? Are you efficient and decisive enough that you will be able to deal with maintenance issues on a timely basis? If the answer to any of these questions is “no,” you may want to consider stopping before passing go.

But if all of this leaves you even more intrigued, your next step should be talking to the people who can really fill you in on the nitty-gritty details of what it means to be a property manger—property managers. Begin by seeing if any of your friends or family members know anyone in the field. If not, put a query in with a local realtor association or, even better yet, call a local property management company. If there’s a particular company you’re interested in working for, requesting an informational interview with them is the perfect place to start. A potential employer will be impressed by your drive and dedication and you can get a feel for the office’s environment to see if it might be a good fit for you. Local real estate schools or certification classes might have some ideas. And, if all else fails, try putting a posting up at on a local property management group’s website [NV1] or the always-useful Craigslist.

Once you’ve identified a professional to speak with, maximize the opportunity. Make sure that you prepare your list of questions ahead of time—don’t just show up for the meeting and wing it. In fact, you’re best to start prepping your list a few days in advance to give yourself plenty of time to mull over what you want to find out. Following are some general questions to consider asking, but you should only use these as a basic guide. Be sure that you really take your own personality into account and are drilling down into the questions and topics that most pertain to your personality and qualifications for an enjoyable work environment.

1. What is your favorite thing about being a property manager? What is your least favorite part?
2. What characteristics or personality traits does it take to be successful in this industry?
3. What are your biggest challenges as a property manager?
4. Which software, applications, or other tools are used in property management?
5. What motivates people in this industry to succeed? Money? Career advancement? Travel? Networking and friends?
6. What websites, books, or magazines do you regularly use to learn and stay current with industry news?

Finally, when asking questions and determining what direction you want your own career to take, make sure you think long-term. Again, remember that just as important as asking other people questions is asking (and honestly answering) questions yourself. You may be okay with long hours now, but how will you feel about that in five years? What is the long-term outlook for careers in this field (also be sure to check out the Bureau of Labor Statistics annual report for more information on the sector’s outlook)? And do salaries generally significantly increase over time? If so, what is the average timeframe for promotion and what do you have to do to achieve that? Are you the type of person who will realistically do what it takes to achieve these milestones?

While one interview may provide you with all the answers you need, also bear in mind that there are different career paths even within the property management sector. There’s commercial property management and residential property management; short-term and long-term rentals; large property management offices and very small ones. With all this in mind, you may want to speak with a couple different property managers whose jobs and situations are differ from one another. The better you are able to really pinpoint the sort of job and environment you would most enjoy working in, the better the chances are that you will really enjoy your property management experience once you get in the door.