What Does a Property Manager Do? Role, Responsibilities, and Key Skills

Are you interested in a career in real estate? If your answer is yes, then you need to know about property management and the role of a property manager.

Good property management is essential to protect your real estate investment and passive income — which means knowing how to hire the right property manager. Alternatively, if you’re interested in pursuing a career in the real estate field apart from being a broker, you should consider being a property manager.

In this blog post, we’ll define property management and explore what property managers do, including key responsibilities, necessary skills, and what qualifies a certified property manager.

What Is Property Management?

​Property management involves the administration, operation, and oversight of real estate properties — residential, commercial, or industrial — to maintain and enhance their value. This role of property manager is typically fulfilled by a third-party contractor who handles daily operations on behalf of property owners, especially those who may not be close to their properties or lack the time for hands-on management.

Effective property management leads to compliance with laws and regulations, satisfied tenants, consistent rental income, and a positive market reputation, all of which maximize a property’s potential and value.

What Does a Property Manager Do?

Property managers handle the daily operations, administrative duties, and strategic planning necessary to maximize the value and performance of real estate investments.

Property managers oversee property that the owners either do not live in or are unable to personally manage. They can oversee all types of property, including residential, commercial, and industrial properties, as well as properties intended for special purposes.

The exact responsibilities of a property manager will vary depending on the property type. Top priorities may include any mix of setting and collecting rent for residential properties, marketing commercial properties, finding new tenants, and handling security and upkeep for industrial properties. Property managers must also keep the owner informed about the property’s performance, often by submitting detailed financial statements and reports.

Because property developers usually move on from project to project and property owners may live off-site, it is the property manager who handles all of the day-to-day operations. As a result, the property manager will often be seen as the “face” of the property, even if they’re not the actual owner. When tenants need to pay rent or have a maintenance request, they will go directly to the property manager.

For their work, property managers will earn either a flat fee or a percentage of the rent generated by the property. As of March 2025, the average annual salary for a property manager is approximately $61,899 and can range from $50,000 to $75,000 per year. Differences in responsibilities, fees, and especially regional markets will determine how much a property manager can make.

Key Responsibilities and Daily Tasks of a Property Manager

​Property managers serve as the vital link between property owners and tenants, ensuring that real estate investments are both profitable and well-maintained. Though their responsibilities will vary depending on the property, their main administrative duties often include:

1. Tenant Management

• Handling lease applications, approvals, and move-ins: Manage the entire leasing process, from application to occupancy, ensuring all procedures comply with legal standards.
• Conducting tenant screenings and background checks: Thoroughly vet potential tenants to secure reliable and responsible occupants. ​
• Responding to tenant inquiries and concerns: Act as the primary contact for tenants and address questions and issues promptly to maintain positive relationships. ​
• Addressing tenant complaints and resolving disputes: Mediate conflicts and find amicable solutions to maintain a harmonious living environment. ​
• Managing lease renewals and termination processes: Oversee lease agreements, ensuring timely renewals or terminations in compliance with legal requirements. ​

2. Property Maintenance and Repairs

• Conducting regular property inspections: Perform routine checks to identify and address maintenance issues before they escalate.
• Scheduling and overseeing maintenance and repairs: Coordinate with contractors to ensure timely and quality repairs, preserving property value. ​
• Coordinating with vendors, contractors, and service providers: Establish and maintain relationships with reliable service providers to ensure efficient property upkeep. ​
• Responding to emergency maintenance requests: Quickly address urgent issues and emergencies to ensure tenant safety, security, and satisfaction. ​
• Ensuring compliance with health and safety regulations: Ensure that properties meet all legal standards to provide a safe living environment. ​

3. Rent Collection and Financial Management

• Collecting rent payments and following up on late payments: Implement systems to ensure timely rent collection and address delinquencies effectively. ​
• Processing security deposits and refunds: Manage deposit transactions following legal guidelines and ensuring fairness. ​
• Tracking property expenses and preparing financial reports: Maintain detailed financial records to ensure proper budgeting and effective financial planning. ​
• Developing and managing budgets for property expenses and improvements: Strategically budget to ensure funds are allocated for maintenance and upgrades. ​
• Working with accountants for tax filings and financial records: Collaborate with financial professionals to ensure accurate and transparent financial reporting in ​compliance with tax laws.

4. Lease and Legal Compliance

• Preparing and executing lease agreements and renewals: Oversee the drafting of legally-sound contracts that protect the interests of both owners and tenants.
• Ensuring lease agreements adhere to local laws and regulations: Stay informed about legal changes to ensure that all practices and documents remain compliant and operate within the legal framework
• Issuing eviction notices and handling legal proceedings: If needed, ensure that evictions are done legally and follow all due process. ​
• Conducting property inspections before move-ins and after move-outs: Document property conditions to aid in dispute resolution. ​

5. Marketing and Tenant Acquisition

• Marketing and advertising available properties on listing sites and social media: Manage effective marketing strategies to attract a larger pool of potential tenants. ​
• Conducting property showings for potential tenants: Showcase properties to help secure suitable tenants. ​
• Screening and selecting tenants through background and credit checks: Conduct thorough screening to ensure tenants are financially responsible and reliable. ​
• Negotiating lease terms with prospective renters: Finalize agreements in a manner that balances owner interests with tenant needs.
• Maintaining an updated database of available units: Keep accurate listings to ensure that vacancies are filled promptly. ​

6. Property Owner Communication and Reporting

• Providing regular updates on property performance: Regularly communicate with owners to keep them informed about their investments. ​
• Advising owners on maintenance and renovation investments: Provide recommendations to help owners enhance property value and appeal. ​
• Delivering financial reports and budget forecasts: Prepare and present regular reports on property income, expenses, and future budgets.
• Implementing strategies to increase property value and rental income: Discuss and propose actions to reduce costs and maximize property value and income.

Essential Skills for Successful Property Managers

Property management is a complex job that requires a combination of technical and interpersonal skills. It also requires a diverse application of those skills depending on the property, the owner’s requirements, and the tenants. Here are the essential skills that will define a successful property manager, including examples:

1. Organizational and Time Management Skills
   Example: A property manager overseeing multiple rental units must schedule routine maintenance, collect rent payments on time, and handle lease renewals. By using a property management system, they can keep track of key dates and ensure everything runs smoothly without delays.
2. Communication and Interpersonal Skills
   Example: When a tenant calls with a complaint about noisy neighbors, the property manager must listen actively, communicate potential solutions diplomatically, and mediate a resolution to maintain a positive living environment.
3. Customer Service and Negotiation Skills
   Example: When negotiating a lease renewal, a property manager must balance keeping a tenant happy while ensuring they’re charging the right amount of rent to match market rates. By highlighting property improvements and market trends, they can justify any increases while maintaining a good relationship.
4. Financial and Budgeting Skills
   Example: A property manager handling an apartment complex should be able to create an annual budget that will account for maintenance, emergency repairs, and upgrades. Throughout the year, they will need to track expenses and ensure they don’t exceed allocated funds while maximizing profitability for the property owner.
5. Marketing and Sales Skills
   Example: When a unit becomes vacant, the property manager should be able to use online listings, social media, and staging techniques to attract potential tenants quickly, reducing vacancy periods and increasing rental income.
6. Knowledge of Property Laws and Regulations
   Example: If a tenant stops paying rent, the property manager will need to follow local eviction laws to issue the appropriate notices and proceed legally. Any and all proceedings should be done to protect the property owner from liability.
7. Technical and Software Proficiency
   Example: A property manager should be comfortable using property management software to automate rent collection, maintenance requests, and lease tracking, making operations more efficient and reducing administrative errors.
8. Attention to Detail
   Example: While inspecting a rental unit before a new tenant moves in, the property manager notices a small water leak under the sink. Addressing it promptly prevents future costly repairs and potential tenant dissatisfaction.
9. Adaptability
   Example: A sudden plumbing emergency occurs over the weekend, requiring the property manager to quickly coordinate with contractors, notify tenants, and ensure repairs are completed as soon as possible to minimize inconvenience.

Because property managers enforce federal, state, and local regulations, some states require a license to manage a property, either as a real estate broker or as a licensed property manager.

Some states may also require property management companies to be licensed by the local real estate board, while others may require specific certifications for property managers, even if a real estate license is not needed. The time it takes to become a property manager will also depend on the state’s requirements.

State Requirements for Property Management
Requires a Real Estate Broker License – Alabama – Alaska – Arizona – Arkansas – California – Colorado – Connecticut – Delaware – Florida – Georgia – Hawaii – Illinois – Indiana – Iowa – Kentucky – Louisiana – Michigan – Minnesota – Mississippi – Missouri – Nebraska – Nevada – New Hampshire – New Jersey – New Mexico – New York – North Carolina – North Dakota – Ohio – Oklahoma – Oregon* – Pennsylvania – Rhode Island – Tennessee – Texas – Utah – Virginia – Washington – West Virginia – Wisconsin – Wyoming	Requires a Property Management License – Washington, D.C. – Montana – Oregon* – South Carolina – South Dakota	No License Requirements – Idaho – Kansas – Maine – Maryland – Massachusetts – Vermont
* Oregon requires either a real estate broker license or property management license.

Most property management positions will also require that you:

• Are at least 18 or 21 years old (depending on the state)
• Have at least a high school diploma or GED-level degree
• Are a legal U.S. citizen or permanent resident

If you’re interested in becoming a property manager, be sure to check with your state’s real estate boards or relevant licensing bodies for the most current information on requirements. You can also read more about how to become a property manager in our companion blog post: How to Become a Property Manager: Step-by-Step Guide.

Learn the Essentials of Property Management

Taking a property management course is a great way to build a strong foundation for a career in real estate or help you specialize within this area of the real estate industry.

An online continuing education course is a flexible and convenient way to:

• Identify owner expectations and build strong relationships
• Understand how to manage day-to-day operations effectively
• Learn how to evaluate legal, risk, and financial considerations
• Build and create customer relations strategies
• Get experience in developing budgets and strategic plans

If you’re ready to take the next step in your career, explore the Property Management course offered by the University of San Diego’s Division of Professional and Continuing Education. As part of the Real Estate Finance, Investments, and Development Certificate, this course will equip you with the expertise to excel in property management and advance in the real estate industry.

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