The Advantages Of Following A Career In Residential Property Management
Residential property management necessitates a degree of experience and professionalism acknowledge by state-specific licensure that validates a manager’s trustworthiness, education, expertise and understanding of the industry, and the necessary business practices relating to property management. The majority of property managers are expected to hold a property management license or alternatively a real estate broker’s license for them to perform estate transactions that include those who are in relation to leasing and managing rental properties. Only a few states do not necessitate this requirement. The state governments grant both estate broker or property management license, local authorities in the state, or real estate boards in the state where the manager is conducting real estate transactions.
The Advantages Of Being A Residential Property Manager
As a real estate agent, you’re enjoying the freedom of being your own boss. However, if you are after a more traditional vacancy, consider the advantages associated with being a community association manager or CAM. Obtaining a CAM license can be easily done in addition to your real estate history.
CAMs generally work in planned unit developments, condominiums, mobile home parks, timeshares, and homeowner’s associations. They oversee community operations and tasks that include:
- Disbursing or controlling of association funds.
- Assessing when or how budgets are prepared or other financial documentation for the association.
- Assessing when or how to distribute notice of meetings or conducting of association meetings.
- Having authority and maintaining the association’s petty cash expenditure.
- Coordinating maintenance for the association.
- Facilitating the operation of the community association.
Easy Career Change
- Applicants don't need to be a Florida resident; however, they must be at least eighteen years old, pass a CAM exam within twelve months of the 18-hour course completion as well as passing a background check with digital fingerprinting.
- You must submit your licensing application along with the course completion certificate (which is available in print or online) to the Department of Business and Professional Regulation.
- A CAM’s license is obtained when the individual receives compensation for managing an association that is containing more than ten units or has an annual budget in excess of one hundred thousand dollars.
Creative Utilization Of Your Skills
When you have a real estate career history before becoming a CAM, you will be equipped for handling the challenges that are part of a CAM’s responsibilities, including advertising costs, rental turnover and client control of the properties. Being the CAM in a residential community means you can use your experience and skills to ensure day-to-day operations are running smoothly, and you can change the narrative surrounding the community you work for. You can add community management expertise to your real estate portfolio and obtain the necessary license by taking an online course. You can also familiarize yourself with more information about real estate career opportunities and course schedules by looking online and making the best decision that will influence your real estate career for the better.