If you are thinking of ways to generate a steady stream of additional income, having part-time jobs seems to be the most suitable option. There are many choices for part-time job and each one can significantly contribute to your pocket. However, most part-time jobs require fixed number of hours per day and a specific schedule. If you are not amenable to such arrangement, you may start exploring other options that would allow flexible hours and have an undemanding schedule yet equally as rewarding. One part-time job you can consider is becoming a Property Manager.
What is a Property Manager?
Also referred to as Estate Manager, a Property Manager is someone who is in charge of the operations of a real estate property for a specific fee or charge. Such job title is relevant in cases wherein the property owner cannot personally attend to the needs of his property due to various reasons. In such instances, the Property Manager is the one who manages the property’s requirements and other details pertaining to it. A property may be a residential building or a commercial establishment.
Job Description and Responsibilities of a Property Manager
The usual and common responsibilities of a Property Manager are; dealing with tenants (for commercial spaces), coordinating with the property owner’s requirements and requests, collection of rents, and settlement of taxes, fees, and other expenses. A Property Manager is likewise expected to update the property owner regarding important matters, issues and concerns by way of periodic and direct reporting. Basically, the owner delegates tasks to the Property Manager depending on what the property requires on a specific case or scenario.
The responsibilities of a Property Manager vary in scope and type. This depends on the type of property being managed. For instance, properties such as vacation homes which are only periodically occupied by the owner may require a different management approach compared to other properties such as apartments and units which are being rented by another party or other commercial spaces on lease.
Some jurisdictions require Property Managers to have a professional license. However, this is on a case-to-case basis and depends on the scope of responsibility and expanse of the property being managed. An example is Certified Property Manager Certification or CPM which is the professional designation given by the Institute of Real Estate Management or IERM which offers a comprehensive course exclusively designed for property and asset managers who are connected with large portfolios of all types of properties. If you have this certification, you’ll be on your way to earning more.
If you are organized and trustworthy with excellent public relations and communication skills, you can consider entering this field. As a Property Manager, it is important to maintain good and open communication with the property owner and other parties involved (if there are any) in order to meet and satisfy each other’s demands and expectations. It is natural for you and for all the parties involved to seek certain rights and benefits out of the entire set up. Still, being a Property Manager can promise you a good profit.
Property Manager as a Part-Time Job
There are many job opportunities for Property Managers. In fact, having this part-time job is a good way to earn passive income. You will be given a set of responsibilities but basically, your time is flexible and you don’t need to follow a regular schedule on a daily basis. Miami is a good place to get started with such venture. With its fast-growing and highly promising real estate market, property management service in Miami will surely be one of the most in-demand part-time jobs you can consider that pays really well.
The number of real estate property investors in Miami is expected to increase over the next years due to tax advantages. And as of this time, it is still one of the top destinations for senior citizens all over the U.S., retired individuals, and foreign elders because of its warm weather, beautiful beaches, laid-back environment and topnotch health benefits. Thus, you can be sure to get more opportunities for this part-time job in the near future.
If you are interested to enter the field of Property Management, you can explore various options within Miami. It is a part-time job that can potentially give you a recurring income for a long time which, in turn, can help you achieve your financial goals faster.