How to Become a Property Manager? 7 Tips for Aspiring Students
Property managers oversee the maintenance and running of different residential and commercial properties in a country. They provide day-to-day tenant services, respond to property-related questions and complete essential paperwork. In the UK, property management is considered a profitable profession for students.
According to Check-a-Salary, the average salary of a property manager ranges from £22750 to £39625 annually. To become a property manager, you must have relevant estate agency or residential management qualifications. Then, you can move forward in an area of specialisation to increase your salary. Alternatively, students can become self-employed and set up property management businesses.
This article will explore the top 7 tips for a student to become a property manager. Let’s dive into the details.
What Does a Property Manager Do?
A property manager is someone who handles the everyday operations of a property, including tenant relations, rent collection, and maintenance. They also have to make sure that the property is fully compliant with health and safety standards.
Some of their responsibilities are mentioned here:
- They have to collect rent from all the tenants.
- They also have to conduct different credit checks and employment verification.
- A property manager can also coordinate leases with the existing tenants.
- You can also expect them to conduct regular inspections to ensure the property complies with health and safety standards.
- Property managers can save money in the long term by providing access to the network of suppliers and trades.
They have to maintain a budget of records and expenses and deal with all the enquiries of the leaseholders. They also visit different sites to compile schedules and work. From an academic point of view, property managers lend properties to students in university towns and cities.
7 Effective Tips to Become a Property Manager for Aspiring Students
Property managers are a key element of the rental business of a property. They manage the day-to-day operations of a property and keep track of all the financial and non-financial information about the properties. They can be self-employed or hired by landlords or leasing companies.
To become a property manager in the UK, students must complete their relevant degrees first. It includes the timely completion of all the coursework, academic assignments and other papers. If they feel stressed by the academic burden, they can buy assignment online from professional to get timely assistance.
Property management is quite a rewarding profession in the United Kingdom. Let’s study the top seven tips for becoming a property manager in the UK.
1. Obtain a License from ARLA
The Association of Residential Letting Agents is a professional body that regulates the standards of the property management industry. They set the criteria for the property managers to follow before they become licensed. Property managers consider it necessary to get licensed by ARLA and pass the exam.
Once the students pass this exam, they can use the logo of ARLA on their promotional material/websites. The license also has a registration certificate with the Association of Residential Letting Agents.
2. Work in a Team
The property managers usually have to work in a team environment. The teams usually comprise accountants, lawyers, property managers and other professionals. It is not important for a property manager to be an expert in all fields of life.
However, they should be able to support and manage their team. Oftentimes, they have to come together to draft a lease agreement. The students can learn a lot when they work as a team. They also develop several skills, such as resource management and the ability to handle the collective tasks done by the team.
3. Study Property Management
Since this is a highly specialised field; property management must be adequately studied by the people who are interested in this profession. The courses on this subject teach the learners how to deal with all aspects of property management.
It ensures that they will learn how to get all the rent on time and that the tenants are happy with the living conditions of the property they acquired. Students must complete all their assignments on time when studying this field.
4. Gain Real Experience
To become successful in the field, the students should work as assistant property managers before completing their degrees. This position can help them get used to the work environment and learn how to succeed well. These assistants can assist the successful property managers with all the administrative tasks and the scheduling of all the property maintenance issues.
They will also know how to lease the renewals and handle the rent payments well. These factors make an organisation run smoothly and ensure that all the leases are valid and up-to-date. The experience also helps students better adapt to the property tasks. Such kind of experience can also be mentioned on your CV and it can help you land a job quicker than you think.
5. Manage Your Time
No currency is more significant than time, so property managers should learn to use their time effectively. Ensuring that your properties are running smoothly and all the tenants have what they need is essential. You can also make digital systems keeping track of all the expenses that are done on maintenance and repair of the properties.
For this, effective time management is super-important. Having a schedule lets property managers manage their rent collections and know when the repairs and maintenance expenses are due. They should manage their time responsibly.
6. Become Certified
When a student gets certified by a professional property management organisation, it makes it easier for them to get a job later. The certification process also helps them establish their industry knowledge and understand best practices.
They can also get an opportunity to demonstrate that they have the right qualifications to manage properties. If you want to access large companies, try getting certified by CIOB & RICS. These certifications help students get leverage in the process of hunting for a job as a certified property manager.
7. Work With People from Different Backgrounds
The nature of the work of a property manager requires them to work with people from different cultural backgrounds. Some can be the tenants, while others may come from diverse backgrounds.
It is essential for property managers to learn how to communicate effectively with people who come from different backgrounds. For this purpose, they should learn how to master communication and ensure harmony. When they professionally step into the field, they will know how to deal with tenants of different kinds.
Do You Need Qualifications to Be a Property Manager?
Students do not really need a qualification to be a property manager; however, for leading the market, the degree may be beneficial quite a lot. Many employers prefer candidates with relevant degrees, qualifications, knowledge and skills.
As per Indeed, the minimum qualification students need to become a property manager is the General Certificate of Secondary Education (GCSE). Therefore, the candidates should solidify their skills and knowledge and get more experience in the field.
What Degree Is Best for Property Management?
Typically, the best degree for property management is a Bachelor of Science (BSc) in Real Estate. It often focuses on property management, like its valuation, legal regulations, market trends and other financial management trends. By pursuing this degree, students can thoroughly understand property management and evaluation.
You can also consider getting accredited by organisations like the RICS (Royal Institution of Chartered Surveyors) for improved career prospects. When you are done with the degree, you will be able to know all about leasing, property law, repairs, maintenance and marketing and more.
Conclusion
We have explored the top 7 ways aspiring students can become property managers in the UK, even without prior experience. Following the tips, we have mentioned in this article, students can quickly go towards becoming a property manager.
Since having a degree is necessary for being a successful property manager, students must leave no stone unturned to ensure they have fulfilled all the course requirements. If they need personalised assistance, they can contact custom assignment writing agencies in the UK to help them with the timely completion of all the papers.
Lastly, know that you can always start with managing small units and then move towards managing different industrial real estate complexes and offices. We all start somewhere, and starting from a smaller level is okay.
Author Bio
Lara Williams is a seasoned assignment writer and an expert in property management education, helping students find their careers in real estate. With a strong background in academic guidance, she provides insights into industry trends and career-building strategies. You can find her trying new recipes in the kitchen or exploring scenic hiking trails when she’s not busy mentoring.