What is a Real Estate Commercial Property Manager, and what are the required skills and studies to become one?
A commercial property manager is responsible for the day-to-day management of a commercial property, such as an office building, shopping centre, or apartment complex.
This includes tasks such as collecting rent, managing tenants, handling maintenance and repair issues and ensuring that the property follows all relevant laws and regulations.
What are the different job titles?
- Commercial Property Manager
- Real Estate Commercial Property Manager
What is the role of a Commercial Property Manager?
The Manager is taking care of the maintenance of the building to be sure it is kept in good condition.
She/He runs the daily functioning of the properties, she/he is like the face of the building and the main point of contact for landlords and tenants.
The property manager may also be responsible for preparing financial reports, negotiating leases, and working with the owner to set the overall direction and strategy for the property.
What are the main tasks of a Commercial Property Manager?
The main tasks that you could find in a job description are the following:
- Ensuring that all properties are maintained to a high standard and are compliant with all regulations regarding their condition and certification
- Ensuring that all property repairs and issues are conducted
- Conducting property inspections
- Organise property visits with potential tenants
- Ensure safety compliance and housing legislation is adhered to at all times
- Provide an excellent standard of customer service and build relationships with landlords and tenants
- Tendering and selection of external service providers
- Identification and realisation of development potential
- Preparation of initial property budgets and coordination with the asset management team
- Ensure all contractor invoices and utilities are paid promptly
What are the skills required?
Hard Skills:
- MS Office Pack
- PMS or ERP systems like SAP
- English
- Real Estate lease skills and law knowledge
Soft Skills:
- Service-oriented
- Good presentation
- Organisation and structure
- Very good verbal and written communication
- Attention to details
- Independence
- Multitasking
What salary does a Commercial Property Manager earn?
The salary might differ depending on your city or country and the property/portfolio size.
The gross salaries per year are around:
- 0 – 4 years: EUR 50,000 – 70,000
- 5 – 8 years: EUR 71,000 – 99,000
- > 9 years: EUR > 100,000
What are the qualifications?
There are no specific education or experience requirements to become a Commercial Property Manager. However, most employers prefer to hire candidates with a bachelor’s degree in a related field such as real estate, business administration, or finance. Some common courses that are helpful for a career in commercial property management include real estate law, property appraisal, and marketing.
In addition to formal education, it is also helpful to have experience in the real estate industry or in a related field such as property management, sales, or leasing. Many property management firms also require their property managers to have a valid real estate licence.
Strong communication, organisational, and problem-solving skills are essential, as is the ability to multitask and handle multiple priorities at once.
Familiarity with computer programs and applications related to property management, such as property management software and spreadsheet programs, can be helpful.
Keep in mind that these are just general guidelines, and specific qualifications for this position may vary depending on the employer and the specific job duties.
