5 Secret Perks of Working in Property Management

Real estate investments present a tremendous opportunity for profit, but only for those with the time and money required to get involved. Because most investors have the money but not the time to manage their properties, working as a property manager is a great opportunity to get your foot in the real estate door. Although working as a property manager is not ideal for everyone, there are many people who make an excellent and enjoyable living doing so. Anyone who is exceptionally handy, good with people, and not afraid of non-traditional aspects of a career can enjoy a career with the following perks.

#1: Reward Without Risks

Investing in real estate can be a risky endeavor. Because neighborhoods and property values frequently change, there is no guarantee of a return on investments. Working as a property manager adds stability to an otherwise unstable industry. Because property managers are paid for work, and not for the value of the land, their paycheck is unaffected by long-term property value outlooks.

While the owners of the investment properties must be constantly evaluating whether or not they should sell their land, or hold out for a few more years, property managers can enjoy the freedom of not paying attention to any of that, and just cash a monthly check.

#2: Experience Without Risks

Not only is real estate a risky investment, it's also a confusing one. So much of real estate success is dependent upon luck or experience and if you don't have any of the first, it will be impossible to get any of the second. Working as a property manager is a great way to be immersed and involved in the real estate scene, without having to worry about losing your shirt.

People who are interested in learning about real estate, with the intention of one day investing, will receive no better training than by working as a property manager. This experience will educate them as to the dos and don'ts of real estate, without requiring a fortune to be laid on the line.

#3: Non-Traditional Work Hours

Property managers are essentially always on-call. However, hours fluctuate, ranging from an incredibly busy 11-hour day involving multiple property visits to a lower-stress day in the office, or "working from home." This non-traditional schedule can be the biggest perk and drawback of the job. While property managers welcome (any must be available for) the unexpected, they also reap the rewards of time off when things run smoothly.

#4: Independent Work

Another perk of being a property manager is the unstructured nature of the job. While a majority of Americans work with supervisors, property managers most work with tenants, which makes for a less repetitive work environment.

With tasks and problems that change daily, as well as surroundings that could vary from hour-to-hour, property managers are forced to be an independent breed. For those who dislike the day-to-day of working in an office, and who also happen to be handy, working as a property manager provides unparalleled freedom and independence.

#5: Pay Relative to Workload

Pay is relative to workload, meaning more entrepreneurial the manager, the more bank they make. Property managers often charge percentages of the monthly rent (somewhere between 6-10%) as their fee for building upkeep, tenant management, and vacancy avoidance. Because of this, the more buildings a property manager can handle, the more money they stand to make. Property managers are therefore extremely motivated to get work done quickly and efficiently.