What is the role of a PRS Manager in the real estate and property industry?

​A PRS or Build to Rent Property Manager job requires excellent budgetary, organisation and communication skills. With the UK facing a substantial housing development drive never has it been a better time to work in the Build to Rent sector, which offers longevity and innovation as well-funded organisations enter the market.

​Key responsibilities of a PRS Manager

Tenant Relations: Managing tenant relationships, handling inquiries, addressing concerns, and ensuring a high level of tenant satisfaction. This involves dealing with complaints, and maintenance requests, and facilitating smooth communication between tenants and property owners.

Property Maintenance and Repairs: Organizing and supervising maintenance work, repairs, and improvements on properties to maintain their value and meet safety and habitability standards.

Financial Management: Handling budgeting, financial reporting, and accounting related to the properties. This includes monitoring expenses, rent collection, handling arrears, and maximizing the profitability of the properties.

Compliance and Legal Matters: Ensuring compliance with all relevant legal and regulatory requirements, including safety standards, health regulations, and tenancy laws. Staying up-to-date with changing legislation and ensuring the properties meet the necessary standards.

Risk Management: Identifying and mitigating risks related to property management, such as property damage, legal disputes, or financial risks.

Team Management and Collaboration: If overseeing a team, managing and leading staff involved in property management, including property agents, maintenance personnel, or administrative staff. Collaborating with external partners like contractors or legal advisors is also part of the role.

Main requirements of a PRS Manager

Education: A bachelor's degree in a relevant field such as real estate, property management, business administration, finance, or a related field can be advantageous. Some employers may prefer candidates with advanced degrees or certifications.

Property Management Experience: Previous experience in property management, particularly in the private rented sector, is highly valuable. This could include roles as a property manager, leasing agent, or in a related area within the real estate industry.

Knowledge of Rental Market: Understanding of the rental market dynamics, local housing laws, tenancy regulations, and market trends in the specific geographic area where the properties are located.

Property Maintenance Expertise: Understanding property maintenance requirements, coordinating repairs, and ensuring properties meet safety and habitability standards.

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