Employment of property, real estate, and community association managers is projected to increase about as fast as average for all occupations through the year 2014. In addition to job growth, a number of openings are expected to occur as managers transfer to other occupations or leave the labor force. Opportunities should be best for those with a college degree in business administration, real estate, or a related field and for those who attain a professional designation.
Job growth among onsite property managers in commercial real estate is expected to accompany the projected expansion of the real estate and rental and leasing industry. An increase in the Nation’s stock of apartments, houses, and offices also should require more property managers. Developments of new homes increasingly are being organized with community or homeowners’ associations that provide community services and oversee jointly owned common areas requiring professional management. To help properties become more profitable or to enhance the resale values of homes, more commercial and residential property owners are expected to place their investments in the hands of professional managers.
The changing demographic composition of the population also should create more jobs for property, real estate, and community association managers. The number of older people will grow during the 2004–14 projection period, increasing the need for various types of suitable housing, such as assisted-living facilities and retirement communities. Accordingly, demand will rise for property and real estate managers to operate these facilitiesespecially those individuals who have a background in the operation and administrative aspects of running a health unit.