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.
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Avg. Salary $66,036.00
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Avg. Wage $34.11
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Minimum Education High school diploma
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Outlook below avg
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Employed 3,800
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In Demand Medium
Also Known As
Building Manager, Real Estate Manager, Site Administrator
NOC Codes
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)
Skills Shortage
Employers that Recruited in the Last 2 Years
47%
47%
Average Wage
Starting
Overall
Top
Average Wage
| Starting | $29.09 |
|---|---|
| Overall | $34.11 |
| Top | $39.27 |
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Certification Not Regulated
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Strength Required Lift up to 5 kg
Interest Codes
The Property Manager is part of the following larger National Occupational Classification (NOC).
Property Administrators
- METHODICAL
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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
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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
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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.
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.
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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.
Certification Requirements
Updated Dec 14, 2016
There is currently no provincial legislation regulating this occupation in Alberta.
Employment & Advancement
Updated Dec 14, 2016
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.
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 | $15.16 | $45.85 | $29.09 | $26.44 |
| Overall | $17.00 | $55.29 | $34.11 | $31.25 |
| Top | $17.05 | $59.77 | $39.27 | $35.00 |
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 | $84,518 |
|---|---|
| ALL INDUSTRIES | $66,036 |
| Finance, Insurance, Real Estate, Leasing | $65,566 |
| Health Care & Social Assistance | $51,976 |
Skills Shortage
Employers that Recruited in the Last 2 Years
47%
47%)
Recruiting Employers that Experienced Hiring Difficulties
29%
29%
Employers with Unfilled Vacancies of over 4 Months
4%
4%
Vacancy Rate
3%
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
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Updated Dec 14, 2016. 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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