October 5 2018
So you’ve made it through all the entry-level jobs and worked your way up the ladder to begin your property management career in earnest. Reaching a management-level job is a real accomplishment, but it’s not the highest level you can reach. Assuming you have the ambition and the motivation to keep going upwards, there are several positions you can aim for if managing residential properties isn’t enough for you.
Regional or Department Head
At this level, you stop managing individual properties and you start assigning properties to other managers. The numbers and laws surrounding residential properties become more important because you’re the person who’s double checking the work others put in and making sure everyone is complying with the law. You also need to know how to scout good leaders to fill management positions, pass out properties to the people who can handle them, and handle any crises that work their way up to your desk.
There are other jobs you might fill within the corporate leadership of the parent company that owns the properties. Exactly what’s available depends on the size of the company and what they do, but you could end up a chief officer or you could sit on the board of directors. You could be responsible for buying and selling the company’s properties, or you could make policy decisions for the whole company. If a high income and plenty of responsibility appeals to you, this can easily be the end goal of your property management career.
Instead of entering the corporate world, you might prefer the freedom of going into business for yourself. While you won’t have responsibility over as many properties as you would by climbing the corporate ladder, you will take on more responsibilities for managing the properties you do own since you won’t have as many people working under you. This can be rewarding in its own way, plus you can keep more of the profits when you’re the owner of your own business. In fact, you might even be able to grow your business and start a corporation of your own.
A property management career doesn’t have to end at the management level. There are plenty of directions you can take your career from there, so keep in mind where you want to go when you think about the skills you want to develop.