You did well on most of this.

However, on your
budget, you did not include an amount for rent.
It could drastically change your budget.
Grade is 85.

Property Manager
Standards: (1) Develop career awareness; (2) Identify abilities and skills
associated with various careers; (3) Identify academic skills needed in

various careers; (4) Apply academic skills in work situations.

Correlations: Career awareness, math, English, critical thinking

Obey the Lease

As a property manager, you may oversee apartments, shopping malls, office

complexes, public housing, or health care facilities. You will collect rents, see

that tenants obey their lease, investigate and solve tenants problems, and

show space to prospective tenants. You will also hire security, janitorial, and

trash removal services; purchase supplies and equipment; contract with

roofers, plumbers, and carpenters; and hire, train, and fire staff. In the

spaces below, list specific skills and knowledge that will help you become

successful as a property manager.

1. Money Management 4. Repair knowledge

2. Land owner experience 5. Contracting skills

3. Law degree 6. Social Skills

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 Youll Love These Apartments!

Imagine that you have been hired as the property manager for Sandy Acres

Apartments and that you are looking for new tenants. Design an attractive

4 x 6 newspaper advertisement that will entice people to rent the

apartments. If you have access to a computer, create the advertisement on

your computer. If you dont have access to a computer, handwrite your

advertisement in the space on page 4.

Here are a few features of the apartment complex:

Features of the apartment complex

New building 1, 2, or 3 bedrooms

Tennis courts Near major highways

Swimming pool Pets welcome

Weight room $850 to $1325 per month

Nearby park Snow removal in winter

Utilities included Manager on site at all times

Garbage pick up Wireless community

Elevators Good school district

Lake view Scheduled social events

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 Youll Love These Apartments! (Continued)

Now its time to write the ad. These guidelines will help you get started:

1. Write a headline in large letters at the top of the advertisement.

Capitalize the first letter of each word, except for prepositions

and conjunctions. An example might be: Beautiful Apartments

Convenient to Major Highways

2. From the list of features, choose a few you think will appeal to

people who might read the ad. Dont list all the features, just those

you think are most important.

Wireless Community Lake view Snow Removal

Pets Welcome

3. Write a few selling words that will motivate renters to want to

live in the apartments.

__________________________________________________

__________________________________________________

__________________________________________________

__________________________________________________

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 Youll Love These Apartments! (Continued)

4. Place the headline, the features you chose, and the selling words

within the box on the next page.

5. Add clip art or draw an illustration to encourage potential tenants

to read the ad.

6. Leave plenty of white space around the words and in the margins so

the ad will be easy to read. If you are designing by computer, try a

variety of fonts before deciding on the most attractive one.

Paying the Bills

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 Paying the Bills

Property managers are paid in one of two ways, either a straight salary or a

commission. Assume you are paid a commission of 15% of the annual rent for each

apartment you fill in one apartment complex.

1. If you fill the following apartments at the monthly rates shown, what will your

total commission be for one year on these apartments only? 7,983

Unit 72, one bedroom $ 890

Unit 89, one bedroom on water $1020

Unit 115, two bedrooms on water $1200

Unit 121, three bedrooms $1325

2. What will your annual income be if you bring in the following rental

revenues in one year?

$120,000 _18,000____________________

$185,000 _27,750____________________

$210,000 _31,500____________________

$275,000 _41,250____________________

3. If 18 units come available for rent in one year at an average rental of

$1,150 a month, how much can you earn in one year if you rent all the

units? __37,260___________________

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 Paycheck Reality

The middle income for property managers is $39,000. That means half of

property managers earn less and half earn more. Standard categories for living

needs are shown in Column 1. Add other categories needed for your personal

situation, for example, child care. In column 2, show the amount of money you

would need each month for each category. Calculate your annual expenditures.

Rent
Electric and heat 300
All telephones 100
Groceries 150
Eating Out 50
Car Payment 300
Gasoline 200
Entertainment 50
Personal Needs (cosmetics, hair cuts, etc.) 100
Income Taxes (Approximately 25% of salary) 812.50
Savings 1000

Miscellaneous 50
Total Monthly Budget 3112

Monthly expenses _____________

3112 x 12 = Annual expenses_____________
37,795

How does a property managers salary fit the lifestyle you desire for yourself?

______________________________________________________________

______________________________________________________________
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