How to Start the Real Estate Business

Finding the best deals for investment in real estate is the most challenging part to most first-time investors. It is very important to have sufficient money to invest in the business. You should have a business plan before investing into it as it may lead to immense losses once poorly planned.

Buying properties for business in real estate entails taking risk and making important decisions to avoid losing your money. You have to find contractual laws and the right procedures for buying and selling of properties.

Steps to Start a Real Estate Business

1. Establish Your own business Niche

Many options are available, from which you can choose. Therefore, your interests and financial capability should guide you on which one to choose. Among the many available options are; rentals, commercial real estate, wholesale purchasing of properties, investment in foreclosures, owned properties, among others.

2. Get a real estate attorney

This is to make sure that you fully understand your state’s rule and regulations concerning the business. The attorney should conduct deals on assignment of contracts and double-dealing matters.

The attorney should help you understand the laws and right legal procedures. He or she should also help you choose the best business structure and contracts to favor your interest and financial position.

3. Conduct a market research

Carry out a market research in your local area. Through the research, you should be able to get the best rates, demographic factors, foreclosures, and market prices. You should also compare the properties you intend to sell with others previously sold in the neighborhood. This will help you gauge whether your investment will be profitable or not.

4. Raise Sufficient Funds

Buying of properties requires money. You therefore need to have enough money to buy the properties of your interest. Since the business entails taking risk, you should be careful of your sources of funds. Among the many sources that you can get financial assistance, include fundraising, loans, private investment among others.

5. Find an agent

Agents have connections to properties available for sale. Therefore, having connection with them guarantees you of business success. They should also seek potential customers to buy your property. They should also have access to the public and private businesses for them to be effective.

6. Hire Staff and management Team

The team should oversee your properties and monitor its performance in the market. They can also act as property owners for your property and correct rent on your behalf in case of rentals. They should also carry out maintenance problems, which hinder business progress.

The Real Property Management Issue Is Education

The Conundrum of Investment Properties

Investors seeking diversification have frequently turned to a rental property or a collection of rental properties to even out and spread risk across their investment portfolios. As with any investment people should consider all of the issues, problems, and pitfalls along with the potential returns. Unfortunately, a lot of investors aren’t aware of the potential problems and do not take the time to investigate these issues before they close escrow. A property management course and a course in basic real estate investment would be great investments of time for someone considering rental properties as a source of investment income and long-term investment. Some of the problems and concerns are discussed below.

Inexperienced Agents and Uneducated Investors Make a Deadly Concoction

Rental property investors often utilize the services of an unseasoned realtor who does not fully understand rental properties, who does not fully understand return on investment, and who does not fully comprehend what cap rates are. Most of the time these investors just turn to their friend ‘the realtor’ or use any realtor they are familiar with or are comfortable with to purchase these types of properties sad as that may sound.

The fact is most real estate agents are not savvy enough to understand rental properties, cap rates, return on cash, return on investment, leveraged investing, and the common terms associated with investment properties. To compound this fact most investors initially are equally inexperienced and lack the proper expertise to locate and purchase a high performance investment property. No one needs to look further than this question: Why would an owner be selling a high performance investment property? That question should be the first of many asked by both the agent and the investor. One problem is that some investors are just so excited to get into a property they look beyond the truth and the numbers and just want to get control of the property. Oftentimes this is a flawed approach because most agents will hesitate to stop the eager purchaser for fear of missing out on a healthy commission.

The Property Management Profession is an Equalizer

After an investor has closed escrow, if the inexperience agent hasn’t offered to ‘manage’ the property for them, many of them decide to manage the property themselves (only licensed real estate brokers can manage rental properties). When these unsuspecting owners are faced with the subtleties of Fair Housing laws, Equal Opportunity issues, civil rights issues, anti-discrimination issues, bad tenant screening issues, notice of default issues, eviction issues, and finally collection issues many times they turn to a professional property manager or property management company to help rescue their sinking ship.

If rescued timely a professional property manager can turn around an investment property and help make the investor’s decision pay dividends. With a competent property manager the return on investment can actually be realized and the owner actually can have time to enjoy the investment, not dote on it or worry about it. The property management company will take care of the investment, the maintenance, the tenants and all of the concomitant issues associated with the property.

Property Management Education Course

Educating both inexperienced real estate agents and beginner investment property owners about prudent property management is critical for maximizing the investor’s return on investment. It is rare for an owner to successfully manage their property or properties and make the maximum possible return available in that particular marketplace. The reason it is rare is because the typical manager-owner is not utilizing the latest and greatest property management techniques, software, screening procedures, and most importantly is not keeping up with the ever changing landlord-tenant laws. Each January there are several seemingly ever increasingly tenant-debtor favored laws enacted which most people are not aware of. When a new law takes effect that is another potential pitfall for the lone-ranger owner to violate and end up on the wrong side of the complaint.

The sure-fire way around this potential issue is to hire a property management company to manage and protect the owner’s investment, and most importantly maximize the return on investment. One other way around this problem is to have every owner take a property management course and learn the profession from the ground up without going through the hard knocks of experiencing tenant problems first hand.

Finally, an owner could hire a property management company that in addition to all of the typical staff also has a real estate lawyer on staff who can solve and answer all of the legal questions that seemingly end up front and center. This would be a truly educated decision and an easy one for the owner to make.

Things to Consider While Choosing a Real Estate Appraiser

When buying or selling a real estate property, an accurate evaluation of the property is very important. Especially, when there is a tough competition in the real estate market. Proper real estate appraisal often helps in finding out the real market value of the property. Therefore, you need to find a good real estate consultant/appraiser.

Appraisers are the real estate agents/consultants who are experts in finding out the accurate market value of a property. There are a number of appraisers in the market and choosing a good one is not an easy job. Following are some points you need to consider while choosing an appraiser.

License and accreditation

Before hiring a real estate appraiser, make sure you check the license, and find out whether the appraiser has license for carrying out appraisal in the state where your property is. This helps in hiring a valuator, who is authorized for carrying out the appraisal process potentially in a particular state.

Education and training

While hiring an appraiser, the educational background as well as the training the appraiser has undergone to satisfy the state’s appraiser requirements should be considered. Many good appraisers carry a professional designation issued by the Appraisal Institute, which is a proof of an appraiser’s commitment to ethical standards.

Each designation requires different education and experience, and most designations apply to a specific area. Research on various designations and choose one that is appropriate and matches your specific needs.

Service area of the appraiser

Make sure that an appraiser you are choosing specializes in your area, as the appraisers from other areas may not be as knowledgeable as the local appraiser. Some appraisers serve two or three areas, whereas others specialize in a single area. Local appraisers have more firsthand knowledge compared to non-locals.

For residential users, considering a local appraiser would be more appropriate as the properties that are commercial have more common aspects of value requiring an appraiser to research outside the market area.

Experience in real estate transactions

An appraiser’s profession is not an easy job. It takes years of work experience to get the right exposure and to become a competent appraiser. So, make sure that the appraiser has enough experience in real estate transactions. Hiring experienced appraisers will be beneficial as they do their work quickly and effectively compared to those who just started their career.

Experience in handling various properties

Even if an appraiser has a license for all residential or commercial type properties, it doesn’t mean that he/she is experienced in handling all types of properties. See to it that an appraiser you are choosing has experience in handling various types of properties. Essentially, make sure that he has experience in appraising properties that are similar to the property you want to get appraised.

Good market data bank

Good appraisers need to have two or three market data sources and other MLS (multiple listing services used by all real estate agents/appraisers). This serves as a means for finding out the recent and similar sales available and should be able to cross refer the information for each property comparable, as to ensure maximum efficiency.

Fee structure

Check how much the appraiser charges for carrying out the valuation of a property. Make sure that the appraiser is charging fair price for performing the valuation process. Research online. Remember, there is no set fees for an appraisal process and all the appraisals are negotiable.

Make this your last consideration, keeping in mind that you get what you paid to receive.

Choosing a right appraiser helps you get the right valuation for your property. Not only that, a professional appraiser will also guide you properly throughout the process and makes sure that you get a profitable deal.

What Property Managers Must Know About Fair Housing Laws, But Are Afraid To Ask

Fair housing laws were implemented in the U.S. during the Lyndon Johnson Administration of the 1960s to help prevent discrimination towards minority and underrepresented groups in housing or renting. Some fifty years later we are still faced with it on a daily basis. According to recent data there were close to 30,000 housing discrimination complaints filed in the U.S. in 2012, which is an increase of nearly 5% from 2011. As a property manager or a property management company it is paramount to understand these basic fundamental laws to avoid any violation and potential liability for you and the property owner.

Advertising Must Comply with Fair Housing

The following language should be communicated on all advertisements, websites, marketing materials, and communications:

“ABC Property Management and our clients do not discriminate on the basis of race, color, religion, national origin, sex, disability or familial status.”

By displaying this language you are communicating a public acknowledgement of the Fair Housing laws and the concomitant restrictions. Property managers need to be mindful not to use language which although is seemingly innocuous actually discriminates against its perceived audience. Some examples of this are phrases like, “great for a young couple,” “family-oriented neighborhood,” or “perfect for single female.” Words which appear harmless like “safe,” and “exclusive,” also imply that the property is not available for certain groups based on stereotypes. A prudent practice for property managers and property management companies would be to describe the neighborhood, its location, and attributes of the surrounding areas instead of being exclusionary towards individuals.

Screening Policies Requires Precision in Communication

A written policy for minimal tenant standards is critical such that a bar is set and cannot be overlooked in qualifying tenants. The exact items to have in a written screening policy include employment history, present income, credit worthiness, criminal background, eviction history and any other red-flags on a screening report. This information should be communicated to the prospective tenant immediately and be front and center in a written policy such that a tenant that is denied for meritorious reasons will not be able to argue discrimination. These standards must be clear, concise, and unambiguously communicated to the potential tenants.

House Rules Must be Consistent

All rules in an apartment house or complex must be compliant with Fair Housing laws and must pertain to everyone, not just a few. Rules must not single out children, unless the rule is designed as a life safety issue such as children being supervised at a community pool. Any violations of the rules must be documented with the date, time, specific violation, violator described, and remedy undertook by the property manager. Property managers must keep accurate and complete records of these instances, circumstances and conduct.

Eviction Process has to be Detailed

Fair Housing laws allow for tenants to be evicted for meritorious reasons such as non-payment of rent. There are other acts and conduct that can result in a tenant being evicted; however, these standards must be detailed, consistent, and non-discriminatory. A property manager must keep detailed records of each and every conversation, act, confrontation, or circumstance which leads to an eviction. The documents which should be included in a tenant’s file in chronology include but are not limited to:

1) Warning letters and/or eviction notices

2) Written complaints by neighbors to city police

3) Writing logs maintained by property manager

4) Police records

5) Photographs

A property manager’s website or tenant packet must include with specificity a list of conduct which a tenant may not engage in. Eviction is the ultimate owner remedy for removal of a bad tenant, however, the property manager’s goal should be to maintain a personal working relationship with the tenant and resolve any issues that could result in an eviction.

Employee Training is Critical

For those property managers who employ staff to deal with tenants it is imperative that the employees receive Fair Housing education and training. Each employee should be required to read and be familiar with Fair Housing laws and should be required to maintain a Fair Housing manual. They should also be required to sign a commitment to comply with Fair Housing laws and non-discriminatory practices to help prevent any situation from occurring. This is for everyone’s protection including the tenants, the employees, the property manager and the owner.

Real Estate Attorneys Can Help Property Owners with Fair Housing Laws

Property management companies who have a real estate attorney on staff can help owners with their Fair Housing questions. A real estate attorney familiar with Fair Housing laws has the expertise, training and procedural knowledge to help keep owners on the right side of the law.

Before You Rent Your Home

Before deciding to rent a property it is important to research state laws. Did you know that state laws can dictate what you are able to charge for screening fees, application fees, late fees, security deposits and holding deposits? For example, as of 2011 a landlord can only charge up to $42.41 in screening/application fees and a landlord cannot require more than 2 months’ rent for a security deposit on an unfurnished property. There are also strict guidelines when it comes to evictions. It’s crucial to know the rules before starting the process.

Managing a rental property can be a lot of work. If you prefer to be less hands-on you can hire a professional management company to take over the responsibilities you’d rather not handle. This can typically cost up to 10% of the monthly rent collected. Many management companies will advertise for new tenants, collect rent, handle maintenance repairs, handle legal notices, and help with evictions. Make sure to be well aware of exactly what services will be provided and whether they are bonded and have errors and omissions insurance.

If you decide to manage your own rental property, look into current rentals in your area. What price are they renting for? What is this landlord offering? What is the condition of the property? It is very important to know your competition. Price your property close to the going rate. An overpriced rental can sit for weeks unwanted. The longer it sits the more money you will lose.

Start the advertisement process immediately. There are many free ways to advertise. Social media and Craigslist are free and easy to use. Buy a large rental sign and keep the sign posted at the property with a good contact number at all times. Hold open houses and keep your showing schedule flexible. If a good potential tenant is ready to see the home and your availability is poor, they will move on to the next property.

Screen potential tenants carefully. Ask that all possible candidates complete a rental application and have their credit report ran. You can ask for a screening fee that can be used to complete this process. Remember, you are not allowed to discriminate based on race, sex or religion. You can however choose to not rent to anyone with a past eviction or history of not making payments on time.

Always request a security deposit. This will protect you once a tenant moves out. If any damage has occurred because of the tenant, this can be used to repair the property. Most landlords require first month’s rent as well. Remember to charge a refundable holding deposit if you are being asked to push out the move in date when the tenant is not available to move in immediately. If the tenant decides during that period of time that they no longer want to rent the property you can keep a portion or the entire holding deposit for lost rent or other costs. Otherwise this fee should be refundable or applied to the first month’s rent.

A rental or lease agreement should always be signed to protect both the landlord and the tenant. This contract will outline the terms and conditions of the lease that have been agreed to. It can include if pets are allowed, who will pay for utilities, which services will be provided, the amount of the agreed rent and deposits. Upon execution, the landlord and tenant should complete and sign an inventory or move in condition check list. This should be completed within the first 3 days. The property should be walked through and its current condition should be noted. Disagreements can be avoided at time of move out by just taking this small extra step.

There are a few extra items that should be mentioned at this point. You should consult with your insurance company to make sure you have Landlord insurance to protect you. You should have a list of contractors to recommend or call for repairs. Your tenant should know exactly when and where to call in case of any emergency’s. Communication is important to maintaining a great landlord/tenant relationship. Many landlords are happy with their tenants and have few problems.

If you should happen to be faced with a situation where an eviction is inevitable, the process can get tricky. Once you have given the tenant the required notice and they fail to move out of the property you can begin the eviction process by filing an unlawful detainer. In most cases a judge will hear and decide on the case within 30 days after it is filed. You must use court procedures and you absolutely cannot begin to carry out the eviction on your own. If the court decides in your favor they will issue a writ of possession allowing the sheriff to remove the tenant from the property. The tenant will have five days from when the writ is serviced to leave. If the tenant chooses not to leave the sheriff will physically remove and lock the tenant out.

Why Housekeeping Is Important for Managed Properties?

Property management isn’t all about letting a professional or company handle your property while you are away. It is also not all about finding the right tenant through rigorous screening process. It also involves that the property be maintained in its most attractive state by keeping it clean and beautiful all over. This is where the aspect of housekeeping becomes an important part of managing a property.

A property cannot be beautiful in its true sense without the cleanliness maintained. And when we speak of cleanliness, we should mean it inside and outside the premises. Housekeeping service is a value-added service which is usually offered by property management companies or specialists. They do understand that simple things like keeping the floor spic and span contributes a lot to the overall aesthetic appeal of the house.

Other associated tasks like maintenance of the lawn and garden areas are also art of the housekeeping process. With the grasses trimmed, tree branches cut into right proportions and length, and flowering plants arranged into their right spots – a managed property can have an increased curb appeal. This is a benefit which is usually overlooked by property owners.

Housekeeping services can also include repainting of indoor and outdoor surfaces. With this task, a managed property can be given a new life – exuding its livelier and cozier atmosphere which is more inviting to prospective tenants – giving you more chances to deal with the right person to occupy your property with utmost care and concern.

Through the years, a property can acquire damages which can be due to time or inflicted by previous tenants. With a housekeeping service, you will be assured that repairs and fixes will be performed before putting the property into the rental market once again. The repairs and fixes can be from simple things such as the replacement of broken glass window panes, replacement of door knobs and locks, or to the more complex thins like rewiring of electrical installations or replacing busted water pipes.

There are more benefits that a property owner can reap from housekeeping services. If you are a property owner yourself, and you want to be relieved of these maintenance and cleaning tasks, it is high time for you to hire property management specialists with these value-added services.

Coimbatore Real Estate Trend

Coimbatore is the second largest city of Tamil Nadu and the sixteenth largest city of India. Coimbatore traditionally houses mega companies from industries like textile, Auto components, Poultry, Spinning mills. Elgi, Suguna poultry are the few famous companies from Coimbatore. The city grows purely on entrepreneurial spirit than government support, as there is no government run company and all major companies are home grown. Coimbatore is also catching up with IT / ITES industry by housing MNCs, inaugurating SEZs in the city. In this article let us look at the real estate trends in Coimbatore and esp the emerging locations of the city.

Real estate in Coimbatore is always stable and steady as end consumers buy homes in this city unlike Delhi and Mumbai where a large amount of investors buy homes. However in the last few years investment from NRIs is increasing in this city, as many citizens of Coimbatore who live abroad wants purchase home. However the city is witnessing sluggish growth and virtually no increase in rate / sq ft for the past one year for all the major locations.

Below is the table of Rates for plots / Residential Land Parcels for emerging locations

Saravanampatti – Rs. 1800-2500 per Sq ft
Vadavalli – Rs. 1500-1700 per Sq ft
Avinashi road – Rs. 4000-5000 per Sq ft
Thudiyallur – Rs. 1800-2000 per Sq ft
Vilankurichi road – Rs. 1800-2300 per Sq ft

Saravanampatti is one of the fast growing neighbourhoods of Coimbatore, because of mushrooming IT companies surrounding the location. CTS, TCS, Bosche are the selected few companies having development centers in this location. IT growth in this area has impacted the near by locations like Peelamedu, Keeranatham, Vilankurichi, Kalapatti.

Vadavalli is witnessing huge growth not from IT or industrial growth but from domestic demand. Vadavalli is well connected location, which is about 9 km from both the Railway stations and 14 km from Gandhipuram bus stand, and 19 km from Coimbatore International Airport. Due to this Vadavalli is the most sought after location in Coimbatore.

Vilankurichi Road:
This road connects cheran maanagar, Periyanayakanpaalayam within Coimbatore. Growth in this location has due to TIDEL park coming in this area which will house 10,000 people once it is fully operational. As of now HCL and Wipro are operating out of TIDEL park which is expecting other MNCs like IBM, HP, Infosys in the near future.

Avinashi road:
Avinashi Road, is an arterial road in Coimbatore, running from east to west. The road starts at Uppilipalayam flyover and ends at Nillambur by-pass junction. The 16 km road connects airport and the east and north-east suburbs. Avinashi road, and Trichy road are backbones of Coimbatore and an indicator of development as the city grew up mostly along its eastern and western sides.

Thudiyalur located 15 km from Coimbatore city junction, lies on the main road to Mettupalayam. Thudiyalue is witnessing growth as it has many engineering colleges, IT /BPO companies in its vicinity.
Though there is no significant price rise in emerging areas, price has appreciated well in the prime locations. Below is the table of Rates for plots / Residential Land Parcels for prime locations

RS Puram – Rs 10000-12000 rate increases 10-12%
Race course road – Rs 8500-10000 rate increases 8%
Bharati park – 6500-7500 rate increases 8-10%

Sree vari, Sree vasta, Mayflower are the large developers from Coimbatore. Large real estate developers like Puravankara, Sobha, TVH, Casagrande entered in to city few years back, and more large developers will enter in to the city soon. Any home buyer who is interested in buying for own use or for long term investment, Coimbatore is the best option; since it provides growth in investment and also affordable for middle class people comparing to other major cities.

Property Management – Yard Maintenance

Is it a good idea to hire a real estate management company to handle your yard maintenance? The answers to this question depend on how many properties you have, what types of properties they are, and how often you want them maintained. If you own one or two houses chances are you can handle these duties yourself. If you have many properties and/or they are large complexes with complicated landscaping, you would be well-served to hire a property manager to oversee the company (or companies) you will need to service them. If your property has one or more pools, a clubhouse/recreational facility or amenities such as a gym or tennis courts; you may still want to avail yourself of a property manager. Part of what they are trained to do is stay on top of the companies who perform these various services.

If you are new to the home owners’ world you may also want to hire a property manager to handle yard and amenity maintenance companies. Being new it is likely you will not realize all of those kinds of tasks you will be responsible for. A property manager will know all of these things. That is part of why they exist. You can always start out by utilizing one and then dismiss them once you are more experienced. Although; when you are more knowledgeable, you would be more likely to realize their value and wisely choose to stick with them. Why should you be bogged down with these maintenance details when they can do it for you?

Not only can your real estate management company handle the yard maintenance companies in the first place, they can also be in charge of paying them. It is true, you could do that yourself. However; if you have large and/or numerous yards to take care of, paying the yard maintenance crews can be a daunting task. If you have your property manager do this for you, it leaves you with the time you need to search for more properties to invest in. The benefits of hiring them are virtually limitless.

Unless you want to personally mow lawns, trim trees and bushes, clean out pools, and perform whatever other yard maintenance duties you will need; you will want to hire crews to do it. Then unless you want the hassles associated with dispatching them to your various properties, explaining everything you want done, and being assured they do it; you will want to hire an estate manager. The property manager is there to make certain all of these duties are done, and properly at that! So do yourself a huge favor – HIRE A PROPERTY MANAGER!!!

Selecting a Property That Is Perfect For You and Your Family

Established houses have a special character and charm on them, which seem attractive to most buyers or property hunters. Most often, sellers offer excellent and affordable value for these properties in comparison to the investment you would have made in building a new house.

Price of these houses depends on various factors like its age, condition and amount of maintenance required. Make sure that you have considered all these factors before purchasing the property. For more satisfaction, you can also call professional property managers who can inspect your house and confirm whether it is structurally sound or not and what extra expenditures you need to make for this property like repairs and replacements.

Apart from all these, there are various other factors that you must consider before purchasing a property for you and your family.


Position of the house plays one of the primary roles in real estate market. Value of a house depends majorly upon the place where the house is. You can qualify the place of a house in various ways. It may signify that your house is in a prestigious place or can also mean that it is near to hills and waves.

Every buyer looks for a house in a peaceful street, close to public transport health centers, shopping malls, education centers, park, etc.


Other than the above-mentioned things, also make sure that your house is close to the most necessary services stations like electricity, sewerage, water, and gas.


Before buying a property in a new place, you must also know about its plans for what new developments the place in about to see and witness in near future. Developments like increasing the number of stores, easy access to public transport, educational centers and parks for children.

Remodeling or Renovating the House:

You can also bring a change in your old property by incorporating some renovations. Repaint the house or extend it a little to make it look new and creative. Your real estate agent can help you in this matter. He can contact various builders who can renovate your property and can also do all their repairs and maintenance required.

Getting a property satisfying all your demands and requirements becomes a very daunting task. But you can easy get one with the help of property managers. Just let them know your demands and they will give you a list of properties that satisfies all your requirements.

How to Get Into the Field of Property Management

Property management is an exciting job that allows you to interact with people. By managing the site, you are responsible for taking payments, writing up lease agreements, hiring maintenance workers, and fielding problems from tenants. For someone who enjoys the day-to-day interaction with people and real estate, it is a good direction to go. So, how do you get into the field?


While there are not many colleges that offer a bachelor’s degree specifically in property management, you can take other routes. By getting a degree in accounting, public administration, or business administration, you will have a head start on what you need to know. Earning your real estate license in the process gives you valuable information that will help you in your career.

No matter which path you take to earn your degree, there are a few classes you need to take, including courses that cover real estate law, leasing laws, and financial management. You should complete courses in bookkeeping, too. A certificate course that covers multi-tenant housing and government-assisted housing is also beneficial.

Licensing and Certification

In some areas, to be part of a successful property management team, you may need a license or certification. This requirement varies by state, so you should check with your state’s real estate board for specific requirements. If you are required to have a certificate or license, you will have to renew it on a regular basis, and you must complete a certain number of training courses each year to maintain that certification.

Even if your state does not require a license to work in this field, you should consider getting a certification. By going through the certification program, you can show potential employers that you have the knowledge needed to perform the job to their high standards. Prior to exams, however, most programs do require you to have some work experience as a leasing agent or assistant manager. Check with the National Apartment Association or Certified Apartment Manager sites to learn the exact requirements.

Career Experience

Once you get your education, you are ready to enter the field of property management. Of course, you need some experience in order to run your own office. You can start by working as a leasing agent for a firm to help gain necessary skills. Smaller groups may even allow you to take a job as an assistant property manager. This allows you to shadow the current manager and learn the necessary skills needed to run your own office in the future. No matter the size of the leasing agency, you need to prove that you understand maintenance and financial management before you will be allowed to be in charge of your own area.

It takes time to gain the level of education and experience in order to run your own property management office. However, by keeping yourself abreast of the changing real estate regulations and having a firm understanding of financial and business management, you can succeed.