A Residential Property Manager is responsible for overseeing the day-to-day management and operations of residential properties such as apartment complexes, condominiums, or housing communities. They are in charge of ensuring that the properties are well-maintained, safe, and appealing to prospective tenants or homeowners. The duties of a Residential Property Manager can include advertising and marketing the properties to attract tenants, conducting property showings and screenings, negotiating leases or rental agreements, collecting rent or fees from residents, coordinating maintenance and repairs, and handling any tenant complaints or concerns. They are also responsible for maintaining accurate records of property expenses, income, and occupancy rates, as well as preparing regular financial reports for property owners. A Residential Property Manager must have strong organizational and communication skills to effectively manage multiple properties and interact with tenants, maintenance staff, and property owners. They need to have a comprehensive understanding of local real estate laws, fair housing regulations, and building codes to ensure compliance and mitigate any potential legal issues. Additionally, they must be proactive in identifying ways to increase property value, minimize vacancies, and improve overall tenant satisfaction.

The job role of Residential Property Manager in Canada is projected to experience consistent growth in the market over the next 10 years. According to recent data from Google, the demand for these professionals is expected to increase due to factors such as population growth, urbanization, and increased investment in the real estate sector. This will result in a significant number of employment opportunities in the future. The projected growth of this position signifies a lucrative career path in Canada's residential property management industry.

How to Learn

As a Residential Property Manager in Canada with 6-9 years of experience, your main responsibilities include:<ul><li> Oversee property operations, including leasing, rent collection, and maintenance coordination, to ensure efficient and profitable management. Manage all aspects of property operations, ensuring smooth leasing processes, timely rent collection, and effective maintenance coordination.</li><li> Develop and implement strategies to attract and retain tenants, including marketing campaigns, tenant retention programs, and lease negotiations. Create and execute marketing initiatives, tenant retention plans, and lease negotiation strategies to attract and retain tenants.</li><li> Supervise property staff, including hiring, training, and performance management, to ensure a high level of service delivery. Provide leadership and supervision to property staff, including recruitment, training, and performance evaluation, to maintain excellent service standards.</li><li> Maintain compliance with relevant laws, regulations, and property management policies, including ensuring proper documentation and financial record-keeping.</li></ul>

Roles & Responsibilities

Average take home Salary for a Residential Property Manager in Canada is around C$63387 per year

Salary Breakup

The residential property managers are usually employed by the property owner or real estate firm to manage the property that is rented or. Complexes of condominiums and apartments typically include a resident manager who works in an office on site at the property. A property manager can assist with the day-to-day administration comprising smaller apartments or duplexes, as well. The property manager for residential properties acts in the capacity of an agent on behalf of the leaseholder or landlord and assists in the payments for rent as well as other fees agreed upon. The property manager is regularly conducting exterior inspections of the property they manage and ensures that the areas are maintained in a safe and attractive way. The property manager is the primary contact point for residents who have issues with repairs The manager plans repairs, prioritises them and is there to make sure they are successful completion.

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Residential Property Manager

Salary Breakup

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