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Property Manager

Property managers oversee and co-ordinate the administration, accounting, maintenance, operation and improvement of residential, commercial and industrial properties and represent the interests of property owners.

  • Avg. Salary $49,561.00
  • Avg. Wage $25.50
  • Minimum Education High school diploma
  • Outlook below avg
  • Employed 5,200
  • In Demand Medium
Also Known As

Building Manager, Real Estate Manager, Site Administrator

Skills Shortage

Employers that Recruited in the Last 2 Years

53%
53%
Average Wage
Starting
Overall
Top
  • Certification Not Regulated
  • Strength Required Lift up to 5 kg
NOC & Interest Codes
The Property Manager is part of the following larger National Occupational Classification (NOC).
Property Administrators
NOC code: 1224
METHODICAL

Interest in compiling and maintaining records on expenses and income; in reviewing rents to ensure they are at market value; and in monitoring progress and cost of repairs, maintenance and renovations

DIRECTIVE

Interest in co-ordinating repairs, maintenance and renovations and in ensuring that staff respond to calls from clients and tenants; may hire and supervise rental agents, property clerks, building superintendents and other support staff performing operational, clerical and maintenance duties

social

Interest in speaking with contractors providing property services, and in negotiating rental and lease of properties

Reading Interest Codes
A Quick Guide

The interest code helps you figure out if you’d like to work in a particular occupation. 
It’s based on the Canadian Work Preference Inventory (CWPI), which measures 5 occupational interests: Directive, Innovative, Methodical, Objective and Social.

Each set of 3 interest codes is listed in order of importance.

A code in capital letters means it’s a strong fit for the occupation.

A code in all lowercase letters means the fit is weaker.

Learn More

Duties
Updated Dec 14, 2016

Duties vary somewhat depending on the type of property but, in general, property managers:

  • communicate regularly with the owner and the tenants on issues affecting the property
  • maintain an accurate inventory of rentable space and market all vacancies
  • prepare annual management plans for properties
  • ensure that properties are properly maintained and comply with codes and municipal bylaws
  • prepare annual budgets and review and report on monthly variances from the budget 
  • build and maintain good tenant-owner relations
  • negotiate, prepare and administer leases and other legal agreements
  • propose and discuss possible renovations or improvements with property owners and in some cases tenants
  • deal with tenant and owner concerns such as parking, heating, maintenance, security, insurance, rent payments and the enforcement of rules, regulations and by-laws
  • regularly inspect each property and focus on risk management
  • obtain quotes or bids from contractors for repairs, renovations or maintenance
  • supervise janitorial and security services, building superintendents, building operators, contractors and staff
  • ensure that work has been satisfactorily completed and approve invoices
  • administer and maintain records of damage and security deposits or condominium contributions
  • collect rents and serve notices to vacate, or collect condominium contributions and assessments
  • prepare reports on topics such as energy management and upgrading options
  • review rents to ensure they are kept at market value and make appropriate recommendations to the owner
  • review annual property tax assessments and make appeals as required by the owner
  • initiate and administer insurance claims with insurers based on policy
  • annually review the property insurance policy and recommend changes as needed
  • review engineering reports and plans.

Condominium managers regularly report to a condominium board and must act in accordance with the Condominium Property Act and all applicable bylaws.

Working Conditions
Updated Dec 14, 2016

Property managers work in an office environment but are often away from the office inspecting properties and monitoring contractors. Their work days tend to be unstructured and they must deal with frequent interruptions. They work normal business hours, although long hours and evening meetings are sometimes required. Property managers may be required to deal with emergencies on weekends and holidays.

  • Strength Required Lift up to 5 kg
Skills & Abilities
Updated Dec 14, 2016

Property managers need the following characteristics:

  • customer service oriented
  • excellent communication skills in person and in writing
  • the ability to work effectively with a wide variety of people including owners, staff, contractors, tenants, government staff, local police and bylaw officers 
  • diplomacy, patience and flexibility
  • the ability to negotiate effectively
  • knowledge of basic accounting principles and the ability to read financial statements
  • knowledge of Alberta's Residential Tenancies Act and Condominium Property Act
  • excellent organization and time management skills.

They should enjoy taking a methodical approach to their work, co-ordinating and supervising the work of others, and dealing with people.

Educational Requirements
Updated Dec 14, 2016

Most employers prefer to hire property managers who have at least a high school diploma, business experience and computer skills. Graduation from a post-secondary program related to property management, real estate management, accounting or business administration is a definite asset. Most commercial managers have related post-secondary education.

Property managers who show suites, collect rent or prepare and administer leases and other legal documents must be licensed by the Real Estate Council of Alberta (RECA). To qualify for licensing, applicants must complete the Real Estate Associates Program (REAP) offered by RECA and pass a provincial qualifying exam.

The Real Estate Institute of Canada offers a Certified Property Manager (CPM) designation. To qualify for the CPM designation, a property manager must:

  • have at least three years of experience as a property manager
  • successfully complete specified Real Estate Institute courses
  • complete a management plan or skills assessment equivalent
  • work full time in real estate management.

The Building Owners and Managers Association (BOMA) offers a Real Property Administrator (RPA) designation. To qualify for the RPA designation, property managers must successfully complete eight designated courses covering a wide range of topics related to property management.

The Canadian Condominium Institute offers a Professional Associate (ACCI) designation.

For a broad list of programs and courses that may be related to this occupation try searching using keywords.

Employment & Advancement
Updated Dec 14, 2016

Below-average occupational growth is expected in Alberta for 2016 to 2020. Job openings are a result of employment turnover and newly created positions.

Property managers are employed by:

  • governments
  • corporations (including condominium corporations)
  • individual owners
  • investor pools 
  • property management firms that manage properties such as shopping malls, warehouses, office towers, condominiums and other residential buildings.

Some property managers work on a contract basis and charge property owners on a fee-for-service basis.

Advancement opportunities depend on the individual's level of skill, education, motivation, attitude and performance. A professional designation is not always required but most employers consider it important.

The number of building starts in a community is a good indicator of the employment situation for property managers in that community. More buildings generally means a greater demand for property managers.

Property managers are part of the larger 2011 National Occupational Classification 1224: Property administrators. In Alberta, 76% of people employed in this classification work in the Finance, Insurance, Real Estate and Leasing (PDF) industry.

The employment outlook in this occupation will be influenced by a wide variety of factors including:

  • trends and events affecting overall employment (especially in the Finance, Insurance, Real Estate and Leasing industry)
  • location in Alberta
  • employment turnover (work opportunities generated by people leaving existing positions)
  • occupational growth (work opportunities resulting from the creation of new positions that never existed before)
  • size of the occupation.

Over 5,000 Albertans are employed in the Property administrators occupational group. This group is expected to have a below-average annual growth of 0.8% from 2016 to 2020. As a result, 40 new positions are forecast to be created each year, in addition to job openings created by employment turnover. Note: As property managers form only a part of this larger occupational group, only some of these newly created positions will be for property managers.

Employment turnover is expected to increase as members of the baby boom generation retire over the next few years.

Wage & Salary
Updated Dec 14, 2016

Salaries for property managers vary greatly depending on the employing organization, the responsibilities involved and the background of the manager.

Property administrators
NOC code: 1224

Survey Methodology

Survey Analysis

Overall Wage Details
Average Wage
Average Salary
Hours Per Week

Hourly Wage
For full-time and part-time employees
  • Low
  • High
  • Average
  • Median
Starting
Overall
Top
Wages* Low (5th percentile) High (95th percentile) Average Median
Starting $15.00 $38.98 $22.04 $17.88
Overall $15.60 $47.53 $25.50 $19.91
Top $19.23 $52.75 $29.21 $25.96

Swipe left and right to view all data. Scroll left and right to view all data.

* All wage estimates are hourly except where otherwise indicated. Wages and salaries do not include overtime hours, tips, benefits, profit shares, bonuses (unrelated to production) and other forms of compensation.

B: Good Reliability
Data Reliability Code Definition

Good Reliability, represents a CV of between 6.01% and 15.00% and/or fewer than 30 survey observations and/or if survey observations represent less than 50% of all estimated employment for the occupation.


Industry Information
Public Administration
Health Care & Social Assistance
ALBERTA, ALL INDUSTRIES
Finance, Insurance, Real Estate, Leasing

Skills Shortage

Employers that Recruited in the Last 2 Years

53%
53%

Recruiting Employers that Experienced Hiring Difficulties

23%
23%

Employers with Unfilled Vacancies of over 4 Months

7%
7%

2015 Vacancy Rate

1%
Related High School Subjects
  • Business, Administration, Finance and IT
    • Financial Management
    • Information Processing
    • Management and Marketing
Related Post-Secondary Field of Study
  • Business, Management and Administrative Studies
Other Sources of Information
Updated Dec 14, 2016

Alberta Real Estate Association (AREA) website: www.albertarealtor.ca

Building Owners and Managers Association (BOMA) website: www.bomacanada.org

Canadian Condominium Institute (CCI) website: www.cci.ca

Institute of Real Estate Management (IREM) website: www.irem.org

International Facility Management Association (IFMA) website: www.ifma.org

Real Estate Council of Alberta (RECA) website: www.reca.ab.ca

Real Estate Institute of Canada (REIC) website: www.reic.ca

For more information on career planning, education and jobs, visit the Alberta Learning Information Service (ALIS) website, call the Alberta Career Information Hotline toll-free at 1-800-661-3753 or 780-422-4266 in Edmonton, or visit an Alberta Works Centre near you.

Updated Mar 01, 2009. The information contained in this profile is current as of the dates shown. Salary, employment outlook and educational program information may change without notice. It is advised that you confirm this information before making any career decisions.

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