I want to properly learn property management. How do I starting
I want to properly learn property management. How should I get started, and how can I find mentors in the New Hampshire and Massachusetts areas?
Most Popular Reply
#5 Multi-Family and Apartment Investing Contributor
- Cincinnati, OH
- 3,790
- Votes |
- 4,106
- Posts
#5 Multi-Family and Apartment Investing Contributor
- Cincinnati, OH
@Eunha An, you posted in the Commercial Real Estate forum. The skillset required to manage 40 4-family apartments is similar, but different than being a PM on a 300 unit apartment complex, is different than being a PM for a regional mall or office portfolio. In apartments, the PMs are often responsible for leasing and maintenance. In true commercial (retail, office, industrial), the PMs are almost purely maintenance/expense side, and leasing is handled by leasing agents.
However, the thing they all have in common is being able to stay on top of a lot of projects at once, being friendly and patient with tenants, and keeping your rolodex of contractors well organized and up to date.
Generally, I think of PMs like servers at a restaurant. It is a pretty highly demanding job that requires a lot of executive function, but not the best paying job, compared to more corporate roles within real estate.