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PM Frequently Asked Questions

Property management is the professional, daily oversight of residential, commercial, or industrial real estate by a third party on behalf of the owner. Property managers screen and place tenants, handle all the maintenance, complaints, service and upkeep, and pay property taxes and mortgage.

There are five segments of the property management industry; residential, commercial, mixed use, specialized and industrial. Students with a PM degree work within these five asset types in a number of different roles and job titles.

Residential Property Management

·       Leasing Consultant / Leasing Specialist

·       Assistant Property Manager

·       Property Manager

·       Senior Property Manager

·       Community Manager

·       Portfolio Manager

·       Regional Property Manager

·       Director of Residential Operations

·       Chief Operating Officer

·       Vice President of Operations

Commercial Property Management

·       Property Administrator

·       Commercial Property Manager

·       Assistant Property Manager (Commercial)

·       Senior Property Manager

·       Office Property Manager

·       Retail Property Manager

·       Portfolio Manager

·       Regional Property Manager

·       Director of Property Management

·       Client Relationship Manager

Specialized Property Management

(Hospitality, healthcare, senior living, student housing, affordable housing, HOAs, etc.)

·       Student Housing Property Manager

·       Senior Living Community Manager

·       Healthcare Facilities Manager

·       Hospitality Asset Manager

·       HOA / Condominium Association Manager

·       Affordable Housing Compliance Manager

·       Facilities Manager

·       Director of Specialized Housing

·       Operations Manager

 

There are five pillars of property management: financial management, marketing/customer service management, human resource management, risk management and maintenance management. You can definitely tailor your course selection through our controlled elective offerings to explore more fully one of these pillars. 

 

The multifamily residential industry has an abundance of internship opportunities available for students. Due to the nature of the industry, these opportunities often include housing accommodations as part of the compensation package. Students have an opportunity to connect with employers at our annual career fair. Most of our students have success obtaining an internship through career fair participation. 

One of the main strengths of the property management degree program is support from industry professionals.

Twice a year, approximately fifty industry leaders visit our Blacksburg campus and spend two days visiting classrooms, networking with students and providing feedback to shape the curriculum of the program. We also offer travel scholarships to the annual National Apartment Association and Institute of Real Estate Management conferences.

A mentorship program is implemented every spring to match interns or recent graduates with an industry mentor. These relationships are quite valuable to students as they are managing the first few weeks of a new internship or job. 

Our property management degree offers an in-depth exploration of on-site operations. The major pairs well with programs that offer either an area of operations specialization such as marketing or accounting or a program that adds to the comprehensive understanding of business operations or real estate asset life cycle management. 

Double Major Options

·      Real Estate

·      Management

·      Residential Environments and Design 

·      Consumer Studies

·      Human Development 

·      Building Construction 

·      Landscape Architecture 

·      Hospitality and Tourism Management 

·      Marketing

·      Finance

Minor Options 

·      Professional Sales

·      Ecological Cities

·      Real Estate

·      Advertising

Residential Environments and Design

The Association of Property Management student run club is active year round starting with Gobblerfest in the fall. The club hosts a number of guest speaker and social events throughout the year. 

Plus, explore 800+ student organizations via GobblerConnect. 

Students are encouraged to complete as many property management internships as possible. We also offer a work-local program that matches students with part-time jobs in the student housing industry. Our classes incorporate assignments that offer experiential learning opportunities, one highlight is our senior capstone class that devotes the semester to the development of a management plan for an actual multifamily residential community. 

·      Property Operations Management – Managing day-to-day operations, maintenance planning, vendor coordination, and service delivery across property types.

·      Financial & Budget Management – Preparing operating budgets, monitoring expenses, understanding cash flow, and evaluating financial performance.

·      Leasing & Contract Administration – Understanding residential and commercial lease structures, lease enforcement, and renewal strategies.

·      Legal & Regulatory Compliance – Applying fair housing laws, landlord-tenant regulations, risk management, and compliance standards.

·      Marketing & Leasing Strategy – Developing marketing plans, analyzing target markets, and positioning properties competitively.

·      Tenant & Client Relations – Managing tenant communication, conflict resolution, retention strategies, and customer service.

·      Human Resources & Team Management – Supervising on-site staff, coordinating contractors, and supporting workplace culture and performance.

·      Asset & Portfolio Management – Aligning operational decisions with ownership goals to maximize property value and long-term performance.

·      Market Analysis & Data Interpretation – Evaluating market conditions, rent trends, demand drivers, and competitive positioning.

·      Sustainability & Building Performance – Applying sustainable practices related to energy, water, waste, and environmental impact.

·       Ethical Decision-Making & Professional Standards – Navigating ethical challenges and applying industry best practices and professional conduct.

·      Affordable & Specialized Housing Knowledge – Understanding operational, policy, and compliance issues related to affordable, student, senior, and specialized housing.

·      Housing Policy & Social Context – Analyzing housing affordability, equity, community impacts, and public policy considerations.

·      Strategic & Critical Thinking – Assessing complex management challenges, evaluating alternatives, and making informed decisions.

·      Professional Communication & Presentation Skills – Writing reports, presenting management plans, and communicating with owners, teams, and stakeholders.

No, there are only twelve undergraduate degree programs in property management in the country. The industry is open to and welcoming of all individuals who are interested in interacting with others, leading teams, problem solving and providing a home or place of work. 

We partner with our Residential Environments and Design and Real Estate partners to offer student abroad opportunities in Italy as well as Croatia.