27 Jul What Degree is Best for Property Management?

Are you considering a career in property management? If so, there are a few different routes you can take. Today more universities and schools offer property management-specific degrees, but they may be hard to come by. If it is inaccessible to you, it can be hard to know what four-year underground program is best. What college courses will most prepare you for a property management career? Is a college degree required? Though a college education is not a prerequisite for property management, it can help move your career along. Our Meridian Property Management Team have listed the top degrees and programs below to help guide your decision.

BUSINESS DEGREE

Getting a bachelor’s degree at a university’s business school can provide you a broad range of knowledge for a property management career. Pick a focus so that you have a more direct path. 

Some universities offer a Real Estate degree to learn about real estate laws, buyer and seller laws, mortgage types, regulations and processes, land, acquisitions, and more. Having a background in real estate will give you a solid foundation going into property management. 

Business Administration degree

With a major in business administration, education covers many different fields related to business. Fundamentals in business may include marketing, sales, strategy, developing and planning, finance and accounting, business law, and management.

Finance or Accounting degree

The most common degree for property managers tends to be finance-related. Property managers answer to property owners and tenants – both of who are spending or receiving money. Therefore, accounting and money management is part of the property manager’s responsibilities. Tasks and skills required include building monthly and annual budgets, accounting or profit and loss statements, and managing revenue. A finance degree can easily translate when understanding property deals, tenant leases, contracts, and reporting.

Employers will feel confident that you have a basic business understanding with any of these degrees. 

HUMAN RESOURCES

When managing a property, you are dealing with many different people at once. Knowing how to communicate clearly – both verbally and in written form, is crucial for a successful career. With a Human Resources degree, you will be prepared to handle team dynamics, different personalities and behaviors, employee relations, economics, and statistics. All of which are topics that can be of value as a property manager. 

PROPERTY MANAGEMENT CERTIFIED PROGRAMS 

If a college degree is not an option for you right now, you may want to consider online courses or certified programs designed for property managing careers. There are courses available for General Property Management, Commerical Real Estate Management, Vacation Rental Management, and Apartment Management. These courses will provide specific training on tenancy, real estate law, building maintenance, vendor or client relations, fair housing laws, and more. 

Of course, you can start out getting experience in the field. Reach out to a local property management team to intern, audit, or work part-time to learn the ropes hands-on. Whichever path you choose, these will provide a unique skill set for success.

Property management is a great career choice with many fulfilling qualities. If you have any specific questions, we are here to help! Reach out to our team, and we are happy to share our experience, advice, or tips! Hope to hear from you soon.