Career change in the cards? You could be a fit for property management
You’re an organized, self-motivated problem solver who thinks well on your feet and you enjoy challenging yourself with a to-do list that changes daily.
People who tick these and other boxes and are looking to embark on a recession-proof new career with growth potential – both in your skillset and income – may find a fit in residential, commercial and strata property management.
Claire Flewelling-Wyatt, managing broker for the property management division of Victoria’s family-owned and operated Pemberton Holmes, calls it a “bit of a sleeper career that people don’t always think about.”
“A lot of people want to get into real estate on the sales side, but they may not realize how long it takes to build your clientele and create a viable career,” she says. “Property management is a great job and if you’re good at it, you might be surprised at how long you can stay with it and earn a nice living.”
Give yourself a leg up in the industry
Pemberton Holmes is “always looking for good people who want to learn the business,” Flewelling-Wyatt says. While in the past it was common for individuals to receive on-the-job training or work their way into the role, those who complete the Real Estate Council of B.C.’s Rental Property Management Licensing Course, an online program offered by UBC’s Sauder School of Business, are much further ahead, she adds. “If you are already licensed, and are a high-energy person who enjoys solving problems, there’s a good chance we can find a spot for you.”
Experienced manager offers tips
Given the volume of residential and commercial tenants that property managers work with, issues are always cropping up that need solving. Being “super-organized” is a necessity, Flewelling-Wyatt says.
Robert Cote, a licensed Property Manager in her office, offered suggestions in a recent issue of Landlord B.C. Magazine (page 22) of ways to make the job go smoother. Strategies such as keeping a good paper (or email) trail, addressing problems quickly and sticking to the facts in cases of disputes can make life easier, he writes.
Changes to pay structure increase income options
As with many professional designations, the rules that govern property management have changed over the years. Licensed property managers in B.C. are governed by the Residential Tenancy Act and today you can opt for commission-based remuneration, which can allow you to create more income opportunities.
“Some people manage up to 200 properties, with help, ranging from single-family homes to apartment complexes,” Flewelling-Wyatt says, with commercial properties offering another wide range of potential clients.
If you’d like to find out more about an exciting and challenging career in property management, contact Claire Flewelling-Wyatt at 250-478-9141, email her at email@example.com or visit the UBC Sauder School of Business online.