Where to Start in Property Management

Question

I’m looking for any feedback, tips, and assistance on focusing on property management next year!

I was a leasing agent/assistant community manager for corporate multi family properties and my broker does allow property management and has encouraged me to pursue it now that I’m a licensed agent.

I’d like to do luxury vacation rentals, airbnbs and private landlords. I want to get my certification & am torn between going through NARS or Penn Foster.

I want to start asap so any suggestions would be greatly appreciated!

Michael Alexander · Answer

That's a fantastic transition into property management! Given your experience in leasing and community management, expanding into luxury vacation rentals and private landlords seems like a great fit.

Regarding certification, both NARS and Penn Foster offer reputable programs, but your choice might depend on factors like curriculum, flexibility, cost, and personal learning preferences. Consider the specific topics covered, accreditation, and any industry recognition associated with each program.

Starting as soon as possible is a great mindset! Begin networking within the vacation rental and private landlord communities. Attending industry events, joining local real estate associations, and leveraging online platforms could help build connections and gather insights from established property managers in these niches.

Additionally, consider building a robust online presence. Create a professional website showcasing your services, expertise, and any specialized knowledge in luxury vacation rentals. Utilize social media to engage with potential clients and showcase your properties or expertise in property management.

Lastly, consider joining professional organizations or groups specific to vacation rentals or property management. These memberships often offer valuable resources, networking opportunities, and industry insights that can greatly aid your journey into this niche.

Continued education, networking, and a strong online presence are key to making a successful transition into luxury vacation rental and private landlord property management!

Michael Smythe · Answer

Check out NARPM

Michael Baum · Answer

Hey @Danielle Young, so I would see if I could start with a co-host type of gig for a while to get the hang of the ropes in PMing.

It isn't easy. It is all customer service. You do have a leg up due to being a leasing agent. You are used to dealing with people in all sorts of situations.

Honestly, I don't know much about either program. Frankly, I feel that on the job work is better overall. I would assume you are interested in building your own property management company which wouldn't require a certificate.

Andrew Steffens · Answer

PM Company owner here with 8 years experience and nearly 100 doors - Having a brokers license has helped me with trust and credibility however I have never needed any further certifications.  If you are looking for good courses I recommend joining VRMA

Sarah Kensinger · Answer

I too would recommend learning from those who have gone before and managed for a number of years. Courses like what your considering, don't always teach the actually nuts and bolts of day-to-day operations. If you would like some more options on learning from experienced operators, I would suggest checking out Michael Sjogren and Bill Faeth. Their conference in Nashville may be a good event to attend as well!

Where to Start in Property Management

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