Why a Career in Commercial Property Management Adds Up
Commercial property management is a very different career from managing residential properties and the opportunities for success means that it can be a very rewarding option for the right person.
With demand growing for commercial property managers, it’s a perfect time to register for the REIQ’s Commercial Property Management Program and grow your skills as a commercial specialist.
To better understand commercial property management and what you can expect from the REIQ’s Commercial Property Management Program, we sat down with Michelle Davis, REIQ trainer and Partner at Tower Francis Property.
What to expect from a career in commercial property management?
The job of a commercial property manager involves handling non-residential properties like factories, offices, hospitals, educational buildings and more. So, depending on where you work, your daily tasks and the clients you interact with may be very different. According to Davis, the exciting and challenging nature of the job means that you will rarely have a dull moment.
“I’m still passionate about [commercial property management] after all these years because of the constantly changing commercial environment,” she says. “I enjoy working with people who take risks when they buy property and with people who take risks when they open a business. It’s great to work with people who are go-getters.”
Not only will the job require you to complete a wide array of tasks, but Davis also says you should expect to be in demand.
“There are not enough commercial property managers,” says Davis. “Our clients need us more than ever as they need us to help them navigate legislation and to work with end users. The market conditions are fast-changing, and we need to work together and ‘at the coal face’ on commercial investments.”
What skills do you need to succeed?
Although opportunities exist to succeed in commercial property management, Davis says there are several skills that will help you achieve your career goals.
“It’s a hard job that requires different skills including accuracy with numbers to the ability to compromise and problem solve. You need to be highly organised now, but able to plan for and anticipate the market changes.”
Davis also outlines good time management, an interest in the commercial property product and having a customer and client focus as key traits of a successful commercial property manager.
Additionally, one of the most important skills outlined by Davis is the ability to build and foster strong relationships.
“With residential, you can operate on your own but in commercial you really need to be a team player because there’s always a number of people who can add value to the decision-making process.”
What to expect from the commercial property management program?
Whether you’re a newcomer or an existing professional seeking to develop your skills as a commercial specialist, this course is designed to provide a solid basis of skills and knowledge.
Throughout the course, attendees will be given an introduction to commercial real estate and learn about acquiring and commencing new management, retail leasing, lease and retail management, preparing financial and management reports and operations management. Attendees will also have the opportunity to guide their learning based on their experiences in the industry.
“If they have already been in the industry for some time and are facing new challenges, they can also bring that to the classroom,” says Davis.
“We cater for everyone, from the inexperienced who are just learning through to the people who have been in the industry and have nowhere to bounce questions off and get further information.
Register now for the REIQ’s Commercial Property Management Program