Business OverviewResidential and commercial property managers are busy people because they have lots of work to do on behalf of their clients. These duties often include preparing annual management plans; preparing budgets and monthly financial statements; maintaining good tenant-owner relations; organizing tradespeople to conduct repairs; negotiating, preparing, and executing leases; and managing deposit accounts, just for starters! Running a property management service is ideal for people with a real estate background, project management experience, construction management experience, or a property administration background. However, anyone can start this venture on a small or part-time basis and gain valuable on-the-job experience, which can be leveraged to grow the business. You may want to look into property management training and certification programs, which can be a wise investment especially for people who want to make a career of property management. Fees vary depending on the property being managed and the services provided, but you can expect to earn in the range of $25 to $40 per hour.