Property Manager

In Canada, the federal government groups and organizes occupations based on a National Occupational Classification (NOC) system. This alis occupation may not reflect the entire NOC group it is part of. Data for the NOC group can apply across multiple occupations.

The NOC system is updated every 5 years to reflect changes in the labour market. Government forms and labour market data may group and refer to an occupation differently, depending on the system used. Here is how this occupation has been classified over time:

• 2006 NOC: Property Administrators (1224) 
• 2006 NOC-S: Property Administrators (B314) 
• 2011 NOC: Property administrators (1224) 
• 2016 NOC: Property administrators (1224) 

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.

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.

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.

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.

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 call the Alberta Supports Contact Centre toll-free at 1-877-644-9992 or 780-644-9992 in Edmonton, or visit an Alberta Supports Centre near you.