Though it’s possible to be a property manager in the UK without formal qualifications such as specific GCSEs, A Levels or a degree in the property field, most property managers will have had some level of training in the property industry.
With the UK’s rental market growing as young people struggle to buy, property management is a career that is becoming a popular choice.
According to the 2021 census, there are around 2.7 million private renters in the city. That’s a huge amount of people to service, and landlords, especially those with multiple properties, are definitely looking for some help.
If you’re considering a career in property management, you might be wondering if you need qualifications. Let’s explore…
What Does A Property Manager Do?
Property managers do everything when it comes to property rentals. Their jobs vary depending on what landlords need, but generally include:
- Collecting rent and making sure payments are made on time
- Being a point of contact for tenants
- Handling maintenance issues and coordinating contractors to keep the property in good condition
- Property inspections to make sure everything is working as it should
- Making sure landlords stay legally compliant with constantly changing UK laws
- Finding, screening and contracting tenants
- Managing evictions where necessary
A good property manager will be someone who is organised, is able to stay up to date with legislation and has good people management skills.
Whilst England doesn’t require property managers to have specific qualifications, having the right ones can help you succeed in this competitive market. However, this doesn’t carry forwards for Wales and Scotland.
Where Are Property Management Qualifications Mandatory?
In the UK, no qualifications are legally necessary to work as a property manager in England or Northern Ireland.
This low barrier to entry makes it an accessible career, especially for those who have already done years of study. However, the rules are different in Wales and Scotland:
Wales: Property managers have to complete 7.5 hours of training under the Rent Smart Wales scheme before applying for a property agent licence.
Scotland: Property managers need to have qualifications equivalent to Scottish Credit and Qualifications Framework (SCQF) Level 6 or above. If these qualifications are over three years old, they might need to do some additional training.
However, whilst you don’t need these qualifications in England and Northern Ireland, having some training under your belt can give you a competitive edge, especially when you are pitching to new clients.
What Qualifications Might Be Useful To Aspiring Property Managers?
Although not mandatory, qualifications in property management can help you seem more credible and give you an edge over someone else. As landlords will likely speak to a few property managers before landing on one, the more you can do to make yourself stand out, the better.
There are a few qualifications that are popular with aspiring property managers, such as:
Level 2 Award in Residential Lettings
This entry-level qualification is perfect for beginners. It covers the basics of residential property management and letting, helping you get to grips with what you need to know.
If you already have some experience you can consider:
Level 3 Award in Residential Letting
Ideal for those with some experience, this award gives learners a deeper understanding of property law, talks about how to manage tenants and teaches industry best practices.
Once you have completed this, you can try:
Level 4 Certificate in Residential Letting
Targeted at senior managers, this qualification is equivalent to a higher education certificate, giving them in-depth knowledge of the sector.
These qualifications are nationally recognised and often endorsed by leading bodies like ARLA Propertymark or the National Federation of Property Professionals (NFoPP).
What Skills Do Property Managers Need
Even with an advanced qualification, not everyone is suited to being a property manager. Sometimes it’s the soft skills that make the difference.
Some of the main skills you will need as a property manager include:
- Strong communication: You’ll be the go-between for landlords, tenants, and contractors.
- Customer service: Keeping tenants happy and making sure landlords trust you are very important for retention.
- Organisation: Managing multiple properties, tenants and maintenance schedules means you’ll need to be incredibly organised.
- Knowledge of property law: Understanding tenancy agreements, safety regulations and eviction processes is important. On top of this, you’ll have to keep up to date with the ever-changing laws around property rentals, making sure your clients stay compliant.
- Problem-solving skills: There will be times when tenants aren’t happy and you need to act quickly on repairs when your go-to contractors aren’t around. Being able to problem solve is incredibly important.
If you’re unsure about whether this is suited to you, why not speak to a property management company about an internship? That way, you’ll be able to see what’s really involved, before diving right in.
How Much Can Property Managers Earn in The UK?
The earning potential in property management can vary massively. If you’re employed by a property management company, depending on the size you can earn between £25,000 – £40,000 per year.
If you have your own business, your property management fees will come as a percentage of the rental yield from the properties you manage. Therefore, being a property manager in London could be more lucrative, due to the higher rental prices.
For example, managing a property with a monthly rent of £1,200 could earn you between £96 and £180 per month for that property alone, depending on your commission percentage.
Alternatively, if you have a network of landlords who want you to manage their rental portfolios, you can easily build up a good client base, without having to do much business development.
Is Property Management The Right Career for You?
Becoming a property manager in the UK can be a great career. It comes with flexibility, a diverse day to day and the chance to earn good money.
Whilst you don’t need any formal qualifications in England and Wales, they can help you stand out from the crowd, especially with employers or landlords.
If you’re serious about a career in property management, investing in training and qualifications is a good move.
