What training is a property manager required to have to manage rental properties?

Many property management companies require their property managers have previous education and/or experience in the management of rental properties. Property Management Companies may also require their property managers complete formal training programs, such as workshops or seminars given by Professional Trade Associations associated with the real estate industry. Many Property Management Companies require their property managers have a college degree in Business Administration, Real Estate or related field.

Property management companies may require their property managers enroll in educational programs to improve their property management skills and expand their knowledge of specialized topics.  A specialized topic in which Property Managers should be diverse in are topics such as inexpensive ways to enhance property values and add curb appeal, personnel management, business and real estate law, understanding liability insurance, risk management and asset protection. A familiarity with the operation of a buildings mechanical systems such as boilers, other types of heating and cooling systems as well as knowledge of the proper care of swimming pools, hot tubs and other amenities offered, maintenance of Home Owners Associations, understanding and adhering to HOA regulations as well as maintaining tenant relations.

Some States require Property Managers hold a Real Estate License.  A licensed Real Estate Agent must complete certain yearly courses to maintain their license, these courses are considered hours that must be completed as part of their Continuing Education.