Being a property manager can be a challenging yet rewarding job. These real estate professionals are vital to having well-kept, organized, secure condominiums, commercial spaces, hotels, and buildings worldwide.
As the property management sector is estimated to be worth billions, many people find this lucrative career an attractive option for advancement, especially in Australia, where the property sector is experiencing dramatic growth.
However, if you’ve been wondering how to become a property manager, specifically in Victoria, Australia, you’re in the right place. Read on as we run you through the basics of being a property manager.
Definition Of A Property Manager
The primary definition of a property manager remains the same wherever you may be. Generally speaking, a property manager is a real estate professional who serves as the vital link between tenants and property owners.
Regardless of whether they’re working independently or under a management firm, property managers are tasked with organising, supervising, and overseeing property rentals in all settings on behalf of the property’s owners or investors.
In addition, most property managers rely on a real estate inspection app to stay on top of everything without spreading themselves too thinly. On top of that, they can either work in residential, commercial, or corporate settings.
To be a successful property manager, you must possess various skill sets that aren’t too different from those of other business managers. These include the following:
- Excellent oral and written communication
- Polite and professional
- Impeccable marketing skills
- Highly motivated
- Organised and with great attention to detail
- Impressive time-management skills
How To Become A Property Manager In Victoria
It would help if you gained several property management qualifications to become a property manager in Victoria, Australia. As such, it’s helpful to go through the following steps.
1. Enrol In And Complete Accredited Courses
The following certifications, training, and experience related to the job are the fastest ways to advance your career:
- Certificate IV in Real Estate Practice Victoria (CPP41419)
Previously called the Agents’ Representative Certificate, this course is offered in several schools, including the Real Estate Institute of Victoria (REIV). CPP41419 Victoria is 18 units and takes a few weeks to finish.
Agents who earn this Agent Representative Certificate will then be authorized to work in different capacities in the real estate sector, including property management. As such, it’s good to have this certification as you carve your way into the industry.
Significantly, this certificate is mandatory for individuals who want to work as an agent’s representative, as required by Australia’s Business Licensing Authority or BLA. The agency issues business licenses to all enterprises within its jurisdiction.
- Diploma of Property (CPP 51119)
Those who successfully finish this property manager course will be acknowledged as estate agents. As an estate agent, you’re allowed to establish a real estate agency and carry out real estate functions, whether commercial or residential, throughout the state of Victoria.
This 12-unit diploma course requires the completion of the previous 18-unit Certificate IV in Real Estate Practice Victoria course as well as a one-year full-time work as an agent’s representative.
2. Consider Getting A Bachelor’s Degree
You can also consider getting a bachelor’s degree related to the real estate sector. These include full-time property manager courses in Bachelor of Property and Real Estate or Bachelor of Business, which will provide you with more marketing and management opportunities in broader sectors.
However, the downside is that it takes up to four years to finish. And you won’t be able to perform full-time work in a real estate agency while getting your degree.
3. Gain Some Experience
To increase your chances of getting hired as a property manager in Victoria, it pays to gain experience and skills on top of apprenticeships.
Applying for a full-time job as an agent’s representative allows you to understand how the real estate sector works. As a representative, you’ll be able to market properties and learn how to deal with tenants. These are two of the core property manager skills needed as a real estate agent.
And for that matter, to become a property manager, first, you need to get familiar with the basic tasks. These can include the following:
- Perform daily tasks with the intention of keeping residential properties such as apartments, townhomes, vacation homes, condominiums, and other luxury properties in order.
- Screens prospective tenants, shows and rents out living spaces, and collects rent payments.
- Inspecting the property and supervising maintenance, renovation, and repair work, including gas piping.
- Schedule regular cleaning and landscaping activities and enforce lease terms and policies. Tenants with issues with their living spaces or neighbours approach the manager for investigation and settlement.
- Perform additional work in a commercial setting. This includes getting insurance, regularly updating renters about the property, and making financial statements. Some property managers also work with legislators and lawyers to talk about legal issues that affect property and the whole real estate industry.
4. Apply As A Property Manager
When you’re confident in your expertise, training, skills and certifications, it’s time to take the next step and apply for a position as a property manager. You can browse through online career sites or ask your connections in the real estate sector to inform you of any work vacancies.
While different property management firms require various competencies and skills, getting ample real estate experience gives you an edge. Likewise, starting as a manager in a residential property setting is a wise decision.
However, if you want to advance your career and work in a corporate or commercial environment, pursuing other short-term accounting and real estate law courses might be wise.
The Bottom Line
As can be gleaned from the list, finding a good property manager can be challenging for most companies. That’s why some businesses offer attractive salary packages for these professionals.
According to a popular career site, the average annual base salary for property managers in Victoria is AUD$73,959 annually, as of April 8, 2022. On the other hand, Melbourne, Hawthorn, South Yarra, Abbotsford, Prahan, and Docklands are the highest-paying cities.
Becoming a real estate agent property manager in Victoria, Australia, demands that you gain the proper certificates, accreditations, and experience in the real estate sector. In addition, being one also requires you to excel at providing service and making people happy.
If you think you’ve got the skills and competencies needed for the job, don’t hesitate to pursue the required training and certification to jumpstart or advance your career.