Job Title: Asset Manager/Property Manager
Type of Company: My company buys, develops, manages and sells commercial real estate.
Education: BA, Business, Western New England College (Springfield, MA)
Previous Experience: I started as a property accountant, became an analyst for an asset management department and was promoted to asset manager.
Job Tasks: On the property management side, I am responsible for insuring our properties are well run. This includes maintaining the properties' curb appeal and insuring that everything works the way it should -- heat, A/C, doors, bathrooms, vending machines, parking lot lights; that trash collection, snow removal, janitorial service, window cleaning, landscaping and so on are being performed as they should be; and that the buildings are all fully leased. I'm responsible for hiring contractors and overseeing all work on the property; this goes for repairs, scheduled maintenance and capital improvements. In addition, I deal with any issues tenants may have or improvements they've asked to make to the spaces they rent. This could include wanting to build-out vacant space or lease vacant spaces. The job also entails creating a budget at the beginning of the year and a 5-year projection for capital improvements.
On the asset management side, I am responsible for the overall profitability of the real estate portfolio. This includes the acquisition, management and distribution of property. I deal with real estate brokers when I'm looking for properties to buy and take full responsibility for the financial and structural viability of the ones I recommend. This entails a lot of financial analysis, legal work and negotiations. Among the things I have to be careful to evaluate are the viability of tenants (tenant mix); what improvements will add value to the property and how to improve our return on investment. Selling a property can be just as much work as buying; finding a broker, pricing, offering package and negotiations are all important and time-consuming aspects of disposing of a property.
Best and Worst Parts of the Job: The best part of the job is that I'm not doing the same thing every day. I can be working in the office one day and out at the properties the next, meeting with tenants, contractors, brokers, sellers or buyers. You need a lot of common sense, good communication skills and general knowledge.
The worst part of the job is not meeting your rate of returns, things running over budget or dealing with a bad contractor.
1. Having good people skills will benefit a person looking to get into this line of work.
2. Good math skills are also just as important in meeting goals and making good decisions along the way.
3. A general knowledge of real estate and commercial construction is also important in this line of work.
These schools offer particularly quick info upon request, and we have written detailed profiles for each (click school names to see the profiles).
Request info from multiple schools, by clicking the Request Info links.
You've found Ashford University, where school comes to you. Earn your bachelor's or master's degree online.
Since 1949, Grand Canyon University has been a premier private university in Arizona, helping students find their purpose and achieve their potential.
Try Your Introductory Course Risk Free
With an education from an Art Institutes school, imagine what you could create.
Pursue a certificate, master, or doctorate degree in Psychology at The Chicago School for Professional Psychology
The Secret to Getting Ahead is Getting Started
As home sales increase, you can be ready to launch a new career. Allied’s real estate programs provide the perfect way to start a professional career - one with unlimited opportunity! Put yourself at the forefront of the real estate field as a salesperson, broker or appraiser.
Purdue University offers a strong foundation of tradition and history.
ABCO Technology is an accredited computer training academy that offers diploma programs for individual students, professionals and companies to learn different areas of Information technology and seek gainful employment.
The inside stories from people actually working in the field.
Click a story title to show the story, and click the title again to hide it.
Career Stories are concise, real-world career overviews written by people relating their personal career experiences and wisdom. They provide invaluable insights and mentoring advice to students and career changers.
Most stories include:
Please also see our detailed information about Property, Real Estate, And Community Association Managers, including: