Property, Real Estate, and Community Association Managers Employment

Faster than average employment growth is expected. Opportunities should be best for jobseekers with a college degree in business administration, real estate, or a related field, and for those who attain a professional designation. Particularly good opportunities are expected for those with experience managing housing for older people or with experience running a health unit.

Employment change. Employment of property, real estate, and community association managers is projected to increase by 15 percent during the 2006–16 decade, faster than the average for all occupations. Job growth among onsite property managers in commercial real estate is expected to accompany the projected expansion of the real estate and rental and leasing industry. An increase in the Nation’s stock of apartments, houses, and offices also should require more property managers. Developments of new homes are increasingly being organized with community or homeowner associations that provide community services and oversee jointly owned common areas requiring professional management. To help properties become more profitable or to enhance the resale values of homes, more commercial and residential property owners are expected to place their investments in the hands of professional managers. Moreover, the number of older people will grow during the 2006–16 projection period, increasing the need for specialized housing, such as assisted-living facilities and retirement communities that require management.

Job prospects. In addition to openings from job growth, a number of openings are expected as managers transfer to other occupations or leave the labor force. Opportunities should be best for jobseekers with a college degree in business administration, real estate, or a related field, and for those who attain a professional designation. Because of the expected increase in assisted-living and retirement communities, particularly good opportunities are expected for those with experience managing housing for older people or with experience running a health unit.