Real Estate: Everything You Need to Know About Being a Building Manager

Property management is a huge industry, coming in at nearly $90 billion and growing. It has been steadily expanding over the last five years, presenting major opportunities for financial and professional growth.

But if you are thinking about getting into property management, there are definitely a few things to know before making the move.

What Does a Property Manager Make?

It is hard to put a price tag on it because it can vary greatly from city to city and depend on a variety of factors. The annual average is between $40,000 and $50,000, though that can vary depending on education, certifications, location, experience, and number of properties managed.

Technology and industry knowledge can definitely lead to a higher pay grade. On the high end, there are some property managers in larger cities that can make around $100,000.

What Does a Property Manager Do?

The responsibilities of a property manager can vary from property to property, but they are generally pretty universal. It means marketing vacancies, conducting tours and showings, screening applicants, facilitating the signing agreement, and so much more.

Basically, the property manager is responsible for the upkeep, care, and management of tenants among other things. It is the comprehensive running of the property so that it can house tenants for each of the available units on the property.

What Skills are Needed?

There are a few necessary skills that every property manager should have to be good at their job. The first is being an effective communicator. A property manager is seemingly in contact with someone at all times, whether it be tenants, owners, vendors, applicants, etc.

Attention to detail is a must as well. There is sensitive information and a slew of legal documents that come into play, meaning that an effective property manager has to be aware of the small details at all times. Missing a seemingly small detail can make all the difference in the world and wind up causing serious issues.

In Pittsboro, North Carolina, real estate investor and coach, Kathie Russell, is a multi-faceted individual who has interests in multiple areas. She is active in the Chatham County market and owns multiple rental properties and Airbnb units. She also consults individuals who are interested in starting out in the real estate industry. As a skilled home flipper, she enjoys exploring her artistic side and designing rooms.

She manages one of her bands, Sarah Shook & The Disarmers. The group was formed in 2012. The lead singer of this band is Sarah Shook, who is from North Carolina and also plays guitar. She has a passion for Americana music and self-released an EP entitled Sarah Shook and the Devils in 2013.

The band's first full-length release was entitled Sidelong, which came out in 2015. The group's third album, Nightroamer, features songs that are both country and folk-rock.

Prior to becoming a real estate investor, Kathie Russell studied political science at the University of South Florida. She graduated from the University of North Carolina at Chapel Hill in 1994. She was also a part of a well-known negotiation team during her time at the Carolina School Of Law. She credits Governor Terry Sanford with helping her graduate with a degree in history.

After graduating from the law school, Kathie Russell was able to earn her Juris Doctor degree. She started her own firm in 1998. She focuses her practice on commercial, real estate, and corporate litigation.

Before becoming a lawyer, she was the legal affairs officer for the Holland Grill Company, where she handled various regulatory matters. In her role, she was responsible for overseeing all aspects of the company's legal affairs, including the certification of its products and the enforcement of intellectual property rights.

Under her supervision, the company's various departments, such as engineering, HR, and customer service, were well-organized. She also handled PR and advertising work, and she was frequently involved in social media campaigns.

She was also able to become a member of the board of the National Barbecue Association board. She was also responsible for promoting the company at various events.