Are you considering a career in either property or community association management?
Both careers serve as incredibly fulfilling paths. Yet, many people lump them into the same job description.
This is not necessarily true.
So, how do you know which of these jobs is right for you?
Below, we’ll go into the differences between property management and community association management. That way, you will be able to decide which job suits you best.
Do you enjoy helping tenants find their dream homes? Do you dream of helping residential areas run their businesses well?
If so, then becoming a property manager would be a great career path for you.
Property managers often work directly with those living in the homes in a community. These homes can range from apartments to vacation residences.
Some common responsibilities include collecting rent and making certain repairs get done. Property managers also show units to prospective residents.
In essence, they are the on-staff go-between for the company and the residences. They ensure the residences get the services they need for excellent housing and make sure the company also receives payment.
Like most professionals, property managers need certain qualifications.
So how do you go about becoming a property manager?
First, make sure you research your local legal requirements. In the United States, the necessities vary from state to state, so you must know your state’s demands.
Second, obtain an education. Receiving either a degree in real estate management or a certification communicates to residential companies that you possess the expertise needed to sell and manage their properties.
So, what is community association management?
Unlike property managers, community association managers (CAMs) are hired by housing boards and various responsibilities.
Sometimes, their responsibilities overlap with those of property managers. For instance, they are expected to be vital components of property upkeep.
Community association managers often work with the board and homeowners to better the area in question. They present financial reports to the board and manage the budget and respond to resident complaints.
These managers do not, however, show prospective residents around units.
Sometimes, the position requires the manager to work in the office, in which case they might also answer phones or do other office tasks.
While a certain degree isn’t required to become a community association manager, you should definitely get training.
Why? When choosing a manager, all boards will prioritize people with qualifications over those without them.
But maybe you’re wondering how to obtain your CAM license?
Regulations differ by state. In the state of Florida, you must take a CAM course. Then, apply for your license, get your fingerprints taken, and schedule a final exam. If you pass this, you have earned your license.
Both property and community association management services as worthwhile careers.
While different, the 2 pathways provide vital services to residential areas, manage the upkeep of properties, and ensure a satisfactory living environment.
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