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Job Description of a Residential Manager

A residential manager is a person who oversees the day-to-day operation of an apartment building and generally lives on-site. One unique perk of being a residential manager is that managers commonly receive a rent and utility free apartment as part of a compensation package. A residential manager's work day is often varied, but requires strong interpersonal, communication and organizational skills.

Residential managers provide management services to apartment, condo, and other residential complexes. Common duties of a residential manager include processing applications, choosing tenants, collecting rent, arranging repairs and upgrades, and overseeing upkeep of the apartments and land. Residential managers also work to settle disputes within the complex, handle evictions, and may be responsible for contracting with others for maintenance services. Residential managers are often given specific revenue goals from their employers.Many residential manager job openings require a bachelor's degree. Preferred majors include business management, accounting, and real estate, though most employers do not require a specific degree. Residential manager applicants with related experience may also be considered. Newly hired residential managers often go through employer provided training on rules, regulations, and administrative duties as well as being placed with an experienced manager for hands-on training.Residential managers often receive a generous compensation package. The Bureau of Labor Statistics states that, as of May 2008, the average salary for property, real estate, and community association managers was about $46,000. In addition to this salary, residential managers often receive a rent and utility free apartment as part of the compensation package. Employer-provided health and other insurance is common for residential managers as well.The Bureau of Labor Statistics expects employment in the real estate management field to grow at an average rate for the period of 2008 through 2018. One area of the field where growth is expected is in the management of senior living communities. Growth in senior housing is expected due to the increasing elderly population. Residential managers often move to higher level positions which also creates job openings. The Bureau of Labor Statistics states that applicants with a college degree are most likely to be chosen for real estate management positions in the future.Residential managers often have the opportunity to move upward in the corporate structure of their employer. One common move is for residential managers to move to larger properties where responsibilities and compensation are greater. Residential managers may also become corporate trainers or move into supervisory positions. Residential managers also gain job experience that may help them to move into related positions in the real estate industry such as hotel and commercial real estate managers, real estate developers, and real estate sales professionals.



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