Property, Real Estate, and Community Association Managers
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Employment
Property, real estate, and community association managers held about 293,000 jobs in 2002. Forty percent worked for real estate agents and brokers, lessors of real estate, or property management firms. Others worked for real estate development companies, government agencies that manage public buildings, and corporations with extensive holdings of commercial properties. Forty-six percent of property, real estate, and community association managers were self-employed.
Job Outlook
Employment of property, real estate, and community association managers is projected to grow about as fast as the average for all occupations through the year 2012. Additional job openings are expected to occur as managers transfer to other occupations or leave the labor force. Opportunities should be best for those with a college degree in business administration, real estate, or a related field, and for those who attain a professional designation.
Job growth among onsite property managers in commercial real estate is expected to accompany the projected expansion of the real estate and rental and leasing industry. An increase in the Nation’s stock of apartments, houses, and offices also should require more property managers. Developments of new homes increasingly are being organized with community or homeowner associations that provide community services and oversee jointly owned common areas, requiring professional management. To help properties become more profitable or to enhance the resale values of homes, more commercial and residential property owners are expected to place their investments in the hands of professional managers.
The changing demographic composition of the population also should create more jobs for property, real estate, and community association managers. The number of older people will grow during the 2000-12 projection period, increasing the need for various types of suitable housing, such as assisted-living facilities and retirement communities. Accordingly, there will be demand for property and real estate managers to operate these facilities, and especially for those who have a background in the operation and administrative aspects of running a health unit.
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