A property administrator is in charge of overseeing and managing real estate. A property administrator is usually involved in coordinating all aspects of the real estate he is managing. This includes financial tasks, administrative tasks, insurance, payroll and investment. A property administrator has the choice of working independently or as part of a team. He generally serves as the liaison between the real estate management team and homeowners.
A property administrator needs two to four years of formal training at a college or university. This is through various liberal arts and management courses such as economics, business management, property analysis, tenant relations, apartment management operations, marketing and system reports.
It is not a must to have certification to become a property administrator. However, getting certification increases a property administrator's careers prospects. Some local council authorities require that property administrators be licensed by the local authorities of the state they are working in. A property administrator can take courses to become a Certified Property Manager (CPM). These courses are offered by the Institute of Real Estate Management (IREM). In addition to passing the eight courses, he needs to take and pass the Ethics for the Real Estate Manager course by IREM.
Responsibilities and Duties
Property administrators work in coordination with the community. They ensure that the housing and real estate property conforms to the Federal Fair Housing and Amendment Act and any other housing laws enacted by the local council housing. He talks to prospective clients, showcases property and informs clients of all the details they need to know. He collects rent, mortgage payments and guides clients in signing lease agreements. He inspects facilities and the housing grounds. He prepares reports that he presents to management, keeping management and supervisors updated.
Most property administrators have an office, but most of them work outside of the office as they need to be on-site meeting clients, and connecting with other personnel in the industry such as contractors, engineers, janitorial and maintained staff. A property administrator usually works long hours in the evening, weekends and even holidays. However, he gets compensated for the overtime hours he puts in. Most of the time he is obligated to spend extended time away from home as he has to travel often.
The average salary for property administrators is £25,987 per year, according to UK Links. This depends on level of experience, education and certification. According to the Bureau of Labor Statistics, the average salary for property administrators is £29,984 per year, with the least paid property managers earning an average of £14,209 per year.