What is a Estate Manager?
Estate Manager Job Description
An estate or property manager is generally responsible for the client’s entire property portfolio and assets.
This means ensuring that each property is being maintained to the highest standards during the owner's absence. If it is not, the estate manager will ensure that repairs are carried out. Updating legal and administrative information, budgeting, providing regular financial reports, and verifying that the household staff are working happily and efficiently is part of the role of an estate manager. He or she also supervises events that take place in the estate.
This means ensuring that each property is being maintained to the highest standards during the owner's absence. If it is not, the estate manager will ensure that repairs are carried out. Updating legal and administrative information, budgeting, providing regular financial reports, and verifying that the household staff are working happily and efficiently is part of the role of an estate manager. He or she also supervises events that take place in the estate.
What responsibilities does a Property or Estate Manager have ?
The roles of an estate manager surpass other personal staff. Aside from overseeing the sale and purchase of a property, it also requires monitoring rental income and expenditure. See the basic responsibilities of an estate manager:
- Organizing updating and managing the client’s property portfolio,
- Handling all financial aspects related to the properties (salaries, taxes and rates, stocks and supplies etc.)
- Acting as liaison between various parties relating to purchasing, selling, financial or administrative duties
- Managing household staff (recruitment, contracts, performance etc.)
- Managing property purchases or sales
- Overseeing budgets and management of renovation and construction projects
- Overseeing budgets and management of property security
- Organizing key events related to the property (such as auctions, sales etc.)
The owner of the private estate is usually the one who employs the estate manager. As such, the estate manager and the owner have regular discussions on things that will happen in the estate. For example, if the owner has an event to plan in the estate, they will tell the estate manager. The estate manager can then work hand-in-hand with the event planner to ensure a successful event. Also, the estate manager and the owner discuss matters like the general upkeep of the estate. If the estate is lacking basic amenities, the estate manager will speak to the owner about them.
An estate manager is mostly responsible for hiring staff such as the housekeeper, chef, nanny, security, driver, gardener, etc. The estate manager also has the power to suspend or fire them if there is a need for that. He or she makes sure that these people carry out their daily tasks. He or she may also recommend them for training if that is needed. Besides this, the estate manager works hand-in-hand with accountants, lawyers, contractors, office staff, event planners, etc.
If the estate buildings, whether the interior or exterior, have any damages, the estate manager will draw up a budget for repair. The estate manager will also prepare the budget for household staff salary and other such expenses. Of course, the estate manager will submit these budgets to their employer.
The estate manager acts as the middle person between a tenant and the owner. He or she gives the tenant information from the owner e.g. if there will be an increase in rent. Likewise, he or she gives the landlord information from the tenant e.g. if the tenant will be moving out soon from the house.
Qualifications You Need to Succeed in the Estate Management Industry
If you want to grow rapidly in the real estate management industry, they are certain qualifications that will come in handy.
- A bachelor's degree in real estate management
- At least two years express as a project manager
- Knowledge in procurement
- Experience in managing payments and negotiating contracts
- Knowledge about taxes and rental levies
- Experience in purchasing, selling, and renting properties
The Basic Salary of an Estate Manager
You can make more than $100,000 annually as a real estate manager. Some estate management firms could pay higher or more, too. What’s more, a big estate firm can also get you a car and a driver to make your job easier. Nonetheless, some real estate management firms may pay lower too. Your qualifications as a real estate manager often affect how much you would earn. For instance, a real estate manager with 2 years cannot earn the same amount as someone that has spent 20 years of money in the industry.
Is the Estate Management Industry Lucrative?
Yes, the real estate management industry is lucrative if you know your way around it. Like you know, shelter is one essential need of man. Therefore, people are always in need of homes to buy or rent. Nevertheless, if you are looking for the position of an estate manager, you can go through an agency. Check online for agencies that can help you get a good estate management job. Finally, a real estate manager's job is fun if you have a wealthy or celebrity clientele.
All our property and estate managers are required to:
- Hold clean criminal records in both their country of employment and country of origin
- Present all certificates and qualifications from training centres and/or schools they attended
- Successfully pass two interview stages
- Provide at least three positive references from previous employers
- Complete professional dossiers containing: CV, cover letter, proof of identity (photocopy or scan), proof of address, proof of the right to work in the country of employment (if applicable), driving license and pay slips from previous professional placements. Candidates should be aware that other documentation may also be required.
Morgan & Mallet International places and recruits property and estate managers for temporary, seasonal, or permanent contracts. Our recruitment consultants are always available to answer your questions.
