Starting Property Management: Tips for Entering the Industry

March 1, 2021 | By: Molly Looman

If you ask a property manager where they started in their career, it is typically far from where they ended up. Commercial real estate and property management attract a variety of different propel from different backgrounds. It is a job that many people don’t even know exists behind the doors of their offices, facilities, and skylines.

Entering the industry can feel daunting, so here are a few tips for anyone looking to enter this growing and changing industry.

Start Taking Classes

Most people in commercial real estate did not major in it in college, rather they found their way to it from a different career. Someone looking to make a career change into property management may feel daunted because they may feel they don’t know enough to perform. Most seasoned property managers will tell new professionals to start education and to continue it. Commercial real estate is changing all the time, so staying educated on the latest technologies and certifications is imperative.
However, at the base level, there are classes available for people to familiarize themselves with the field, gain skills to rise to new positions, and increase their knowledge about the scope of CRE. As someone grows in their career in property management, there are different designations and certificate programs that can move you to new heights. If entering a new industry feels daunting, start looking for a class that will make you feel more confident in your potential everyday responsibilities.

Find a Mentor

When asked about what a new professional in property management should do to succeed, most people say to find a mentor. Mentorship is critical in an industry that is so interconnected as property management. A mentor can help new professionals on their educational journey, help them expand their network, and guide them on different specialties and paths they may take in their career.
A mentor doesn’t need to be within your own company or even within your industry directly. Finding a few mentors perhaps one in your direct specialty and one outside will diversify the thoughts and advice coming your way. Mentorship is something that grows over time, so it is important to work to get to know those within your organization and take advantage of networking opportunities.

Develop Your Communications Skills

A property manager is sometimes compared to a mayor. The role involves communicating with several different facets every single day. No day is the same and adaptability and communication are key to staying organized. While there are many skills to develop as a property manager, communications skills are a high priority. Not only will you be required to use them in customer service with tenants but also within your organization through presentations, meetings, or budgeting.
Developing your system for organization and communication will put you in the right position to develop those skills and become an effective property manager. No matter where you start in this field, the key thing to remember is to jump in with both feet, to keep learning, and to expand your network.