Careers in Real Estate Management

Urbanization process being at its peak, the property and real estate industry is passing through a boom phase in India. Property and estate sector is a profitable business for many investors these days. However, to oversee day to day operation, it requires the professional expertise of a real estate manager. Property & Real Estate Managers help to coordinate all financial and administrative operations of real estate investments. Main duties of these managers are invested with duties of collecting rent, refunding security deposits, showing properties to prospective tenants and adhering to community guidelines. Other responsibilities for a property manager include employing contractors/laborers for maintenance of all infrastructures.

Course Details
To start a career in Property and Real Estate Management the minimum qualification is MBA (Real Estate Management) which is offered by a number of institutes in India. There are several Post-Graduate Diploma and Certificate level courses available throughout the country. For MBA (Real Estate Management) the basic eligibility is graduation. Candidates seeking admission into this course have to go through written test, group discussion and personal interview conducted by the institute concerned. The minimum eligibility and course duration of PG Diploma and Certificate courses are different from institute to institute.

Career Prospects
Property & Real estate Managers can work with real estate departments in banks, NBFCs and trust companies. Most of these managers prefer to work with real estate firms. Besides job options in community association management companies and national and international property management firms are also available for these managers. A Real Estate Manager also can work independently to work in daily operations, or serve as part of a real estate management team as a liaison. Some property manager may also serve on real estate management boards to work with projects concerning financial planning, asset management, and resident regulations. Besides jobs in civic groups, real estate sales and marketing firms and cooperatives are also open to these professionals.

Top Colleges Offering UG/PG/Other Courses
Different courses in Property and Real Estate Management are offered by many institutes in India. Some big names in this area are: S M School of Management Technology, Noida; Delhi Business School, Delhi; IILM Institute for Higher Education, Gurgaon; Akruti Institute of Real Estate Management and Research, Mumbai; Yajnas Academy of Real Estate Management (YAREM), Hyderabad; Institution of Estate Managers and Appraisers, Kolkata; International Institute of Real Estate, Investment and Finance, Delhi and St Xavier College, Kolkata. Besides, Centre for Continuing and Distance Education, Raipur and Karnataka State Open University Mysore offer distance learning courses in real estate management.

Remuneration
Careers in property management are generally salaried positions that include several other allowances and benefits. Initially they can expect Rs 20,000-25,000 per month. An assistant property manager should expect to make 40,000-50,000 per month. On the top level a real estate manager can earn a salary of 70,000-1 lakh per month and also can expect an annual bonus along with other fringe benefits.