Property Management Careers: A Hidden Gem in Hospitality

For students approaching graduation or recent graduates contemplating their career paths, here's a handy checklist to guide your decision-making:

Do you have a natural flair for hosting?

Are you enthusiastic about making guests feel welcome?

Do you thrive in dynamic environments where every day is different?

Is the idea of a 9-to-5 desk job unappealing?

If you found yourself nodding to these questions, then the hospitality industry might just be your perfect match.

When picturing a career in hospitality, most people imagine managing hotels. Indeed, many universities even label their hospitality courses as "Hotel Management." Take Cornell University, for example, where its globally renowned hospitality school is known as the School of Hotel Administration.

However, before you jump into hotel management, consider this: Property management, often referred to as "residential hospitality," is a somewhat hidden yet rewarding avenue within the hospitality realm. This sector offers unique benefits not always found in hotel management roles.

To begin with, property managers have the chance to truly connect with the individuals they serve. Unlike the transient nature of hotels, where guests rarely stay long enough to forge connections, property managers interact regularly with residents in their communities. This frequent interaction fosters deep, lasting bonds.

On the topic of work-life balance, property management offers additional advantages. Hotels experience peak activity during holidays and weekends, necessitating staff presence during these busy periods. In contrast, residential properties typically witness a slowdown because residents often leave their homes during holidays, thereby allowing the staff to enjoy that time off with their families.

Moreover, the timeline to reach the pinnacle of a management career is significantly shorter in property management. While climbing the hotel management ladder may take about 15 years, journeying through progressively demanding roles, property management professionals can reach top positions in about five years. Opportunities are more accessible due to a higher number of properties and less competition compared to the scarce high-end hotel roles.

Entry into property management often starts at the front desk, followed by a leadership role as Front Desk Team Leader. Aspiring managers then receive mentorship and training while they shadow experienced property managers. This comprehensive learning experience equips them to take charge as on-site property managers.

Further enhancing career prospects, the constant rise of luxury high-rise constructions amplifies opportunities in this field. For instance, in South Florida alone, nearly 200 high-rise buildings are managed by prominent companies, and the region boasts over 340 existing high-rises with an additional 500 in various stages of development. This pattern is echoed in major markets along both the east and west coasts.

North of the border, Canada presents a similar trend. Toronto alone has over 3,200 high-rises, with around 800 more on the way. Vancouver follows suit with over 1,300 existing high-rises and nearly 200 more planned or under construction. These burgeoning developments necessitate a steady demand for property managers and a team of staff to ensure seamless operations and resident satisfaction.