Kaiwhakahaere Papa Whenua
Property managers look after the daily running of residential or commercial properties.
Commercial property managers usually earn
$56K-$122K per year
Residential property managers usually earn
$61K-$102K per year
Source: Hays, 2021.
Pay for property managers varies depending on skills, experience and the type of work they do.
Pay for commercial property managers
- Commercial property managers with up to three years' experience usually earn $56,000 to $77,000 a year.
- Commercial property managers with three or more years' experience usually earn $87,000 to $122,000.
Commercial property managers charge set fees for managing properties.
Pay for residential property managers
- Residential property managers with up to three years' experience usually earn $61,000 to $82,000 a year.
- Residential property managers with three or more years' experience usually earn $82,000 to $102,000.
Residential property managers charge property owners a percentage of the weekly rent.
Some residential property managers are paid a salary by their company while others work on commission only.
Source: Hays, 'FY 2020/21 Salary Guide – Australia and New Zealand', 2021.
(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 as you often gain skills on the job.
However, commercial property companies usually prefer to hire graduates with a degree in property management, finance or marketing. Useful qualifications include:
- Bachelor of Property (Level 7)
- Bachelor of Land and Property Management (Level 7)
- Bachelor of Business – Property (Level 7).
Residential property managers can train on the job and gain a New Zealand Certificate in Residential Property Management (Level 4). The Skills Organisation oversees this training.
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
- customer service
- finance and administration.
Commercial property managers may also find it useful to have experience in areas such as law, construction, quantity surveying, valuation, accounting or finance.
Property managers can register with the Property Institute or the Property Managers Institute of New Zealand (PROMINZ).
- Property Institute website - information about registration
- Property Managers Institute of New Zealand website - information on becoming an accredited residential property manager
Find out more about training
- Property Institute
- 0800 698 258 - firstname.lastname@example.org - www.propertyinstitute.nz
- Skills Organisation
- 0508 754 557 - www.skills.org.nz
What are the chances of getting a job?
Growing demand for property managers
Demand for property managers is growing due to:
- rental property owners choosing to hire property managers because they need to comply with more complex legal requirements
- increasing investment in rental and commercial (particularly industrial) property.
According to the Census, 7,881 property managers worked in New Zealand in 2018.
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.
- Pearse, D, 'Residential Property Management', New Zealand Property Professional Magazine, Summer/Autumn 2021, (www.propertyinstitute.nz).
- Pelletier, N, 'What's Driving the Commercial Property Sector?', 11 March 2021, (www.rnz.co.nz).
- South, G, 'Why More Landlords Are Using Property Managers', 27 February 2021, (www.stuff.co.nz).
- Stats NZ, '2018 Census', 2019.
- van Etten, R, chief of staff, Property Institute, careers.govt.nz interview, April 2021.
(This information is a guide only. Find out more about the sources of our job opportunities information)
Progression and specialisations
Property managers may progress to own their own franchise.
They usually specialise in either residential properties or commercial properties such as retail spaces, office buildings, or industrial buildings.
Last updated 1 June 2021