1.1.4: D. Property Management (Independent)
- Page ID
- 35511
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Property managers are a valuable asset, safeguarding property value and fostering a positive relationship between owner and tenants. This section explores the responsibilities and license requirements for property managers and residential onsite managers.
Residential Managers
In California, property managers need to be licensed by the DRE (either salesperson or broker license) whether they are working in residential or commercial management. Agents who work in residential property management are typically known as "property managers". They must be licensed to lease units to tenants and collect rents. Commercial property managers are typically divided into two categories: "leasing agents" who show and rent properties to tenants; and "asset managers" who analyze the budgets, produce reports, and send invoices to tenants. On-site managers (also referred to as resident managers) do not need to be licensed. Their role is to live on the property because state regulations require the owner to have a live-in on-site manager if there are 16 or more units in the apartment complex.
Licensed real estate salespeople cannot own and operate a property management company. Because they must be supervised by a broker, the broker must be the business owner. In addition, although licensed real estate salespeople can work as property managers, only their licensed broker can own and maintain the client trust account per California Civil code regulations. Link to the State of California Department of Real Estate (DRE) Trust Funds Guide for Real Estate Brokers and Salespersons: https://www.dre.ca.gov/files/pdf/re13.pdf
Residential Onsite Managers
Responsibilities of Residential Onsite Managers
The residential onsite manager resides on a property and oversees its day-to-day operations. Responsibilities of an onsite manager typically include marketing and leasing available units, handling tenant relations, collecting rents, conducting regular inspections, coordinating contractors for repairs, and connecting with service providers and other administrative tasks.
Qualifications and Skills Required
Recruiters of onsite managers look for someone with customer service and organizational skills, some sales experience, and a general knowledge of property maintenance and the real estate industry. Although a degree and real estate license are not required, many companies seek candidates with a bachelor of arts degree in business administration or real estate. Often, success in this career path depends on skills, especially the ability to communicate effectively.