Property and real estate managers take care of the daily operation of properties. Some find, buy, and develop property.

Property and real estate managers may manage:

• Office buildings
• Apartments
• Retail and industrial properties
• Condos

Managers show vacant spaces to people who want to rent. They explain the rules of the lease to clients. They also set rental rates, handle bookkeeping, and collect payments. Managers make sure that mortgages, taxes, and other property bills are paid. They keep track of profits and losses for property owners.

Property and real estate managers recruit, hire, and train their staff. Managers plan, schedule, and coordinate repairs and maintenance of their properties. They assign some repairs to their own maintenance workers.

Managers may hire outside companies, such as construction firms or exterminators. If they use these services frequently, managers may gather bids from several vendors. Managers evaluate the bids and negotiate contracts.

Some property and real estate managers specialize in an area, such as:

Community association managers

Community association managers manage the property and services of condos and planned communities through their homeowner or community associations. They collect monthly fees, create budgets, work with contractors, and help to resolve complaints.

On-site managers

On-site managers live at a property. They look into problems or conflicts. On-site managers inspect buildings after renters move out and determine if repairs are needed.

Real estate asset managers

Real estate asset managers act on behalf of clients to plan the purchase, development, and sale of real estate. They focus on the long-term plans rather than the day-to-day problems. Some are hired to find good places for hotels, stores, or factories. They research sites by looking at zoning, property values, and traffic patterns. Once managers find suitable spots, they meet with clients to discuss the land. Managers negotiate to buy or lease suitable properties.