Kaiwhakahaere Papa Whenua
Property managers look after the daily running of residential and commercial properties.
New property managers usually earn
$45K-$75K per year
Senior property managers usually earn
$100K-$130K per year
Source: Hudson and Hays, 2017.
Pay for property managers varies depending on experience.
- New property managers start on between $45,000 and $75,000 a year.
- Mid-level property managers can earn between $75,000 and $100,000.
- Senior property managers can earn from $100,000 to $130,000.
Commercial property managers charge set fees for managing properties, while residential property managers charge the property owner a percentage of the weekly rent.
Some residential property managers are paid a salary by their company while others work on commission only.
Source: Hudson, '2017 New Salary Guides', 2017; and Hays, 'The 2017 Hays Salary Guide', 2017.
(This information is a guide only. Find out more about the sources of our pay information)
What you will do
Property managers may do some or all of the following:
- advertise and show rental homes or commercial properties
- negotiate leases and tenancy agreements
- collect rents and bonds
- investigate and resolve any tenant complaints
- organise property repairs
- review property maintenance, security and tenancy contracts
- keep up to date with the real estate market
- help plan property investments
- write financial reports
- advise building owners on tenancy law and the real estate market.
Skills and knowledge
Property managers need to have knowledge of:
- property inspection and valuation
- building methods and materials, and architectural and engineering plans
- property laws and local regulations
- the real estate market.
Trade skills, such as plumbing or carpentry, may also be useful.
- usually work regular business hours, but may work evenings and weekends, and be on call
- are based in offices, but often travel locally or nationally to clients' properties, and to meet with prospective clients or attend courses.
There are no specific requirements to become a property manager, and many larger property firms provide in-house training.
However, the following qualifications may be useful:
- New Zealand Certificate in Real Estate (Salesperson) (Level 4)
- New Zealand Certificate in Residential Property Management (Level 4)
- National Diploma in Real Estate (Level 5)
- Bachelor of Property (Level 7)
- Bachelor of Land and Property Management (Level 7)
- Bachelor of Business (Property) (Level 7).
Commercial property companies prefer graduates
Employers at commercial property companies usually prefer to hire graduates with:
- a degree in property management, finance or marketing
- experience in areas such as law, construction, accounting or finance.
Residential property managers can train on the job and achieve a New Zealand Certificate in Residential Property Management (Level 4) through the Skills Organisation.
A tertiary entrance qualification is required to enter further training. Useful subjects include accounting, business studies, economics and maths.
Property managers need to be:
- honest and reliable
- excellent communicators, with good listening and writing skills
- proactive and adaptable
- good negotiators and mediators
- able to make good judgements.
Useful experience for property managers includes work in:
- real estate
- property investment
- quantity surveying
- finance and administration.
Property managers can register with the Property Institute of New Zealand (PINZ) or the Real Estate Institute of New Zealand (REINZ).
- Property Institute website - information about registration
- Real Estate Institute of NZ website - information about registration
Find out more about training
- Property Institute
- 0800 698 258 - email@example.com - www.propertyinstitute.nz
- Real Estate Institute of NZ
- (09) 356 1755 - firstname.lastname@example.org - www.reinz.co.nz
- Skills Organisation
- 0508 754 557 - www.skills.org.nz
What are the chances of getting a job?
Growing demand for property managers
Opportunities for property managers are good due to:
- people often leaving the role to go into real estate sales, which creates vacancies
- an ageing workforce, with many property managers due to retire soon
- not enough people going into property management.
About 4,600 people work as property managers in New Zealand. The Ministry of Business, Innovation and Employment expects this number to increase by 3% by 2024.
Types of employers varied
Property managers can work for:
- large or small property management agencies
- institutional investors who run property funds
- government departments with property portfolios.
According to the Ministry of Business, Innovation and Employment, about 40% of property managers are self-employed.
- Church, A, 'Exciting Future with Property', Autumn 2017, (www.propertyinstitute.nz).
- Clements, D, 'New Zealand Property Education – Industry Challenges and Opportunity for Graduates', Autumn 2017, (www.propertyinstitute.nz).
- Harrison, N, 'The Future of Property – Education and Development Opportunities', Autumn 2017, (www.propertyinstitute.nz).
- Hays, 'Hays Quarterly Report July-September 2017', July 2017, (www.hays.net.nz).
- Hutching, C, 'Lincoln University Doubles Property Studies Intake after Fears of Shortfall', 8 April 2017, (www.stuff.co.nz).
- Ministry of Business, Innovation and Employment, '2006-2014 Occupation Data' (prepared for Careers Directorate – Tertiary Education Commission), 2015.
- Robert Walters, 'Global Salary Survey 2017', 2017, (www.roberwalters.co.nz).
(This information is a guide only. Find out more about the sources of our job opportunities information)
Progression and specialisations
Property managers may specialise in:
- residential properties
- commercial properties such as retail spaces, office buildings, or industrial buildings.
Last updated 3 December 2019