What employers actually look for
The U.S. Bureau of Labor Statistics says most people in this field start with a high school diploma plus several years of related work experience. That is the honest picture. A degree is not the gate for most on-site jobs. Experience is. Hiring managers want proof that you can lease units, handle residents, collect rent and keep records accurate before they hand you a building.
A degree matters more on the commercial side. BLS notes that employers may prefer college graduates for commercial roles that involve a property's finances or contracts. Useful fields include business administration, accounting, finance, real estate and public administration. If you aim for office, retail or industrial management, a degree shortens the road. If you aim for apartments, on-site experience matters more.
The usual route: leasing, assistant, manager
Many residential managers start in leasing or as assistant managers. BLS says people may start as onsite or assistant managers and move up to property manager. As a leasing consultant you show units, process applications, sign leases and learn the property software. That is where you build the habits a manager needs: following fair housing rules, chasing delinquencies, and keeping residents from moving out.
BLS describes the next step as assistant property manager, where you take on a wider range of duties under a manager. From there you move to running a single property, then several properties or larger ones. Some experienced managers go on to open their own management firms. Customer service work also counts as related experience, according to BLS, so retail and hospitality backgrounds are a reasonable starting point.
When a real estate license applies
Licensing is set by each state, so the answer depends on where you work and who employs you. BLS says that in most states, managers who handle property for others need a property management license or a real estate broker's license. Managers who buy or sell property need a real estate license. In some states, community association managers need one too.
The split often falls between working for the owner and managing property for a fee on behalf of others. In California, the Department of Real Estate says a property manager needs a valid, active license to collect rent and manage a landlord's property, but resident managers do not need one. Florida law exempts salaried leasing staff working in an apartment community's on-site rental office. Before you take a job, ask whether the company is a licensed brokerage and whether your role needs a license.
Credentials that move you up
Credentials are optional in most cases, but employers use them to sort candidates. For apartments, the National Apartment Association's Certified Apartment Manager (CAM) is the common first one. You need 12 months of on-site property management experience, 40 hours of coursework, and a passed exam within six months of declaring candidacy. You can take the course before you reach 12 months and hold a provisional certificate until you do.
The Certified Property Manager (CPM) from the Institute of Real Estate Management (IREM) is a senior designation. It requires 36 months of qualifying experience. In each counted month you must manage a minimum portfolio, such as 200 residential units at one to four sites, and perform at least 19 of IREM's 36 management functions.
Pay
USD a year, before tax. BLS OEWS May 2025, moved to 2026 with the Employment Cost Index, for the property, real estate and community association managers series, which covers residential, commercial and HOA managers together. State, property type and portfolio size move the figure. Refer to the Residential & Multifamily Property Management salary guide for figures from live adverts.
What you need
- EducationA high school diploma or equivalent is the typical entry requirement. Commercial employers may prefer a degree in business, accounting, finance or real estate.
- Related experienceExpect several years in a related role, such as leasing, assistant management or customer service, before you run a property.
- State license, where requiredMany states require a property management or real estate broker's license to manage property for others. On-site employees of the owner are often exempt, but the rules differ by state.
- Fair housing knowledgeManagers must follow anti-discrimination laws, including the Fair Housing Amendments Act and the Americans with Disabilities Act, when advertising and leasing.
- CAM credential (optional)Requires 12 months of on-site experience, 40 hours of coursework, and a passed exam. Renewal each year costs $125 in dues plus eight hours of continuing education.
- Subsidized housing certificationsBLS notes that managers of federally subsidized public housing must hold certifications.
State by state
| California | The Department of Real Estate says a property manager needs a valid, active DRE license to collect rent and manage property for an owner. Resident property managers do not need a real estate license. |
|---|---|
| Florida | Florida Statutes section 475.011 exempts salaried employees who work in an apartment community's on-site rental office in a leasing capacity. It also exempts salaried condominium or co-op managers who arrange rentals of one year or less. |
| Texas | Under TREC rules, a property manager needs a license if they are paid to show or lease property for the owner, or if they control the acceptance or deposit of rent from a resident of a single-family home. A sales agent may own a property management company, but if it does brokerage the company needs its own license and a designated broker who handles all transactions. |
How to get there
- StartGet an entry job in leasing or the front officeStart as a leasing consultant or office assistant at an apartment community. Learn the property software, the application process and fair housing rules.
- StartCheck your state's license rulesFind out whether your role or your employer's business model requires a real estate or property management license. Get licensed early if you plan to manage for third-party owners.
- After leasing experienceMove to assistant property managerTake on rent collection, delinquencies, vendor bills, reporting and staff scheduling under a property manager.
- After 12 months on siteEarn the CAMOnce you have 12 months of on-site management experience, finish 40 hours of coursework and pass the four-hour, 185-question exam.
- After several yearsRun a propertyTake over a single community: budget, occupancy, maintenance oversight, staff and owner reporting.
- 36 qualifying months+Manage a portfolio or pursue the CPMOversee several or larger properties. After 36 qualifying months at the required portfolio size, you can earn IREM's CPM.
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Questions people ask
Do you need a college degree to become a property manager?
Usually not for residential, on-site jobs. BLS lists a high school diploma or equivalent as the typical entry education. Commercial employers may prefer graduates for roles that deal with a property's finances or contracts.
Do property managers need a real estate license?
It depends on the state and the role. BLS says most states require a property management or real estate broker's license to manage property for others. Many states exempt on-site employees of the owner. California, for example, does not require a license for resident managers.
Is leasing consultant a good first job toward property manager?
Yes. Many residential managers start in leasing or as assistant managers, and BLS says people may start as onsite or assistant managers and move up to property manager. Leasing teaches you the resident, application and fair housing work you will later supervise.
How long does the CAM take?
NAA requires 40 hours of coursework, 12 months of on-site management experience, and a passed exam within six months of declaring candidacy. You can take the coursework before you reach 12 months and get a provisional certificate until you meet the experience requirement.
How much do property managers earn?
Based on BLS data moved to 2026, the middle half of US property, real estate and community association managers earn about $52,300 to $101,000, with a median near $72,200. Pay varies widely by state and property type.
Sources
- U.S. Bureau of Labor Statistics: Property, Real Estate, and Community Association Managers (Occupational Outlook Handbook)
- National Apartment Association: Certified Apartment Manager (CAM)
- IREM: CPM Experience Requirements
- California Department of Real Estate: Quick Guide for Landlords Hiring a Property Manager
- Florida Legislature: Florida Statutes section 475.011, Exemptions
- Texas Real Estate Commission: Does a property manager have to be licensed? (FAQ)
- Texas Real Estate Commission: Do I need a license to act as a site manager of an apartment complex? (FAQ)
