Growth Trends for Related Jobs
Community association managers are employed by homeowners and community associations to keep the peace and keep home values up. The job is part referee, part accountant, part real estate manager and part property caretaker. For their numerous efforts, community association managers are routinely compensated with annual salaries totaling more than $50,000.
Community association managers oversee housing communities. These communities include condominium complexes, cooperatives, planned communities and senior living facilitates. Typical duties include evaluating service bids, hiring personnel to maintain the grounds or conduct repairs, collecting dues and managing the books. Managers may also be responsible for enforcing community rules and regulations.
Education requirements vary greatly based on specific job duties. A college education is preferred but not always required for straightforward administrative positions. Positions that require managers to handle the property’s finances and to draft contracts for tenants may require a master’s degree in business.
Some states have regulations requiring property managers to be licensed. Special restrictions also apply to managers that oversee public housing subsidized by the federal government. Check local statutes for specific requirements.
Most property managers work out of an office located on the property grounds, but their presence is frequently required away from the desks to oversee various personnel, show units to potential tenants or investigate resident complaints. Exact schedules vary, but many property managers are required to work weekends because some current and potential tenants are only available during the weekend.
According to salary figures provided by the Bureau of Labor Statistics, the mean annual wage for community association managers was $58,660 in 2009. However, the range of salaries reported to the BLS varied greatly. Ten percent of the managers reported salaries less than $23,890. The same number of managers took home more than $104,400. Workers from New York, Virginia and Delaware made the most. BLS experts say the annual mean wage for managers working in these states was more than $84,500 in 2009.
BLS officials predict employment of community association managers will grow 8 percent through 2018, about as fast as the national average for all occupations. BLS experts go on to say job prospects will be best for applicants with a college degree, professional designations or experience working with seniors. Degrees in business administration, real estate or other relevant field are the most in demand.