Career Development

What Does a Commercial Property Manager Do?

Find out what a commercial property manager does, how to get this job, and what it takes to succeed as a commercial property manager.

Commercial property managers are responsible for the day-to-day management of commercial properties. They oversee all aspects of these properties, including leasing, maintenance, and general operations.

Commercial property managers may also be involved in marketing their properties to potential tenants or buyers. This might include creating advertisements, attending trade shows, networking with other companies, etc.

Commercial Property Manager Job Duties

A commercial property manager typically has a wide range of responsibilities, which can include:

  • Negotiating and preparing lease agreements that meet legal requirements and suit the needs of all parties involved in the transaction
  • Preparing budgets for building maintenance, repairs, and improvements
  • Managing staff who handle building operations such as cleaning, groundskeeping, and maintenance
  • Reviewing lease contracts to determine terms of occupancy and termination dates
  • Performing inspections of rental units to ensure they meet building standards
  • Conducting market research to identify potential customers and tenants
  • Developing marketing strategies to attract new tenants and buyers to properties
  • Providing accounting services to ensure that rent payments are collected and bills are paid on time
  • Maintaining a safe work environment by adhering to OSHA standards and safety regulations

Commercial Property Manager Salary & Outlook

Commercial property managers’ salaries vary depending on their level of education, years of experience, and the size and type of company for which they work. They may also earn additional compensation in the form of bonuses.

  • Median Annual Salary: $70,500 ($33.89/hour)
  • Top 10% Annual Salary: $114,500 ($55.05/hour)

The employment of commercial property managers is expected to grow at an average rate over the next decade.

Commercial real estate continues to be a popular investment, and property managers will be needed to oversee these properties. In addition, the need for property managers will continue to exist because many companies are outsourcing property management services to reduce costs.

Commercial Property Manager Job Requirements

The following are some of the requirements that are often looked for in a commercial property manager:

Education: Commercial property managers are typically required to have a bachelor’s degree in real estate, finance, business administration or another closely related field. Some employers may accept candidates with a high school diploma or GED certificate along with relevant work experience.

Training & Experience: Commercial property managers often start in entry-level positions, such as property clerk or leasing agent. These positions provide hands-on experience in property management. They also provide training in customer service and communication skills, which are essential for commercial property managers.

Certifications & Licenses: Certifications enable professionals to prove their qualifications to current and future employers. Commercial property managers can earn certifications to gain more theoretical knowledge of their responsibilities, test their professional skills and further advance their career.

Commercial Property Manager Skills

Commercial property managers need the following skills in order to be successful:

Communication: Communication is the act of conveying information through a verbal or written medium. As a commercial property manager, you may be required to communicate with a variety of individuals, including business owners, employees, contractors and clients. Effective communication can help you convey information clearly and answer questions. It can also help you build trust with others and foster positive relationships.

Negotiation: Negotiation is the ability to persuade others to agree with your point of view. Property managers often use negotiation skills to help them complete tasks and meet deadlines. They may also use negotiation skills to help them secure the best possible prices for supplies and equipment.

Marketing: A commercial property manager oversees the operations of a business, which means they may need to market the business to attract customers. Marketing skills can help a property manager develop a strategy to promote their business and increase sales.

Time management: Property managers often have multiple responsibilities and deadlines to meet. Time management skills can help them prioritize their tasks and meet their deadlines. They may also use time management skills to ensure they attend to all of their clients’ needs.

Organization: Property managers often have many tasks to complete each day, so it’s important for them to be organized. Organization skills can help them prioritize their work and ensure they complete all of their responsibilities. Organization can also help them save time by completing tasks simultaneously.

Commercial Property Manager Work Environment

Commercial property managers typically work in an office environment during regular business hours, although they may be on call 24 hours a day to respond to emergencies. They may also travel to different properties to conduct inspections or meet with tenants. The work can be stressful, as managers must deal with difficult tenants, tight budgets, and the potential for property damage. However, most managers find the work to be rewarding, as they are able to see the results of their efforts in the form of well-maintained properties and happy tenants.

Commercial Property Manager Trends

Here are three trends influencing how commercial property managers work. Commercial property managers will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

Commercial Real Estate Will Become Even More Digital

As technology advances, commercial real estate is becoming increasingly digital. This means that commercial property managers will need to be familiar with new technologies in order to stay competitive.

One of the most important trends in this area is the rise of online marketing. Commercial property managers can now reach a large number of potential tenants through platforms such as Facebook and Google Ads. In order to be successful, they will need to learn how to use these platforms effectively and understand what makes people click on ads.

Real Estate Professionals Will Need to Be Able to Communicate With Tenants

As businesses become more global, the need for real estate professionals who are able to communicate with tenants from different cultures will increase.

Commercial property managers will need to be able to understand the needs of their tenants and work with them to find solutions that meet both parties’ requirements. They will also need to be able to translate between different languages in order to communicate with tenants who do not speak English.

More Focus on Energy Efficiency

As energy costs continue to rise, businesses are beginning to focus on energy efficiency as a way to reduce their expenses. This is leading to an increased demand for commercial property managers who have expertise in energy-efficient building design.

Commercial property managers can capitalize on this trend by developing skills in energy-efficient building design. This will allow them to help businesses save money on their energy bills while also helping to protect the environment.

How to Become a Commercial Property Manager

A commercial property manager career can be a great way to start your career in real estate. As a commercial property manager, you’ll be responsible for managing the day-to-day operations of commercial properties. This includes overseeing maintenance and repair work, collecting rent payments, and ensuring that tenants are complying with lease terms.

To become a commercial property manager, you’ll need to have a strong understanding of real estate law, accounting, and finance. You should also have experience working in construction or engineering so that you can understand how buildings are constructed and maintained.

Related: How to Write a Commercial Property Manager Resume

Advancement Prospects

Commercial property managers typically start out as assistant property managers or leasing agents. With experience, they may advance to become property managers, regional managers, or portfolio managers. Some commercial property managers may eventually open their own property management firms.

Commercial Property Manager Job Description Example

At [CompanyX], we own and operate a large portfolio of commercial properties. We’re looking for an experienced commercial property manager to join our team and oversee the daily operations of our properties. The ideal candidate will have experience managing multiple properties, a strong understanding of financial and accounting principles, and excellent communication and customer service skills. He or she will be responsible for ensuring that our properties are well-maintained and operated efficiently, while also maximizing profitability.

Duties & Responsibilities

  • Oversee all commercial property operations and ensure they are in compliance with company policies, procedures, and applicable laws and regulations
  • Manage a team of property managers and support staff, developing and mentoring employees to reach their full potential
  • Prepare and administer annual operating budgets for each property, ensuring costs are controlled and within budgeted guidelines
  • Review monthly financial reports and take corrective action as necessary to maintain profitability
  • Negotiate and execute leases with new and existing tenants, working closely with the legal department to protect the interests of the company
  • Develop and implement marketing plans to maximize occupancy and rental rates
  • Regularly inspect properties to ensure they are well-maintained and compliant with safety standards
  • Respond to tenant inquiries and concerns in a timely and professional manner
  • Investigate and resolve any complaints or violations of lease agreements
  • Coordinate repairs and maintenance of properties as needed, working with outside vendors and contractors as necessary
  • Keep abreast of industry trends and developments to ensure the company is positioned competitively
  • Attend industry events and networking functions to build relationships with potential tenants, landlords, and other professionals in the field

Required Skills and Qualifications

  • Bachelor’s degree in business, real estate, or related field
  • 5+ years experience in commercial property management or leasing
  • Proven track record of increasing occupancy and tenant retention
  • Working knowledge of real estate law, contracts, and negotiation
  • Excellent communication, customer service, and time-management skills
  • Proficiency in Microsoft Office and Yardi Property Management software

Preferred Skills and Qualifications

  • MBA or Master’s degree in real estate, business, or related field
  • 7+ years experience in commercial property management or leasing
  • CCIM or RPA designation
  • Experience with budgeting and financial reporting
  • Strong IT skills, including database development

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