Career in Facilities Management

Today, in India there are thousands of malls, multiplexes, entertainment centres, commercial complexes, office buildings, housing societies, integrated townships, hotels, corporate hospitals, educational institutions among several other types of properties are in either advance stage of building or are scheduled to be built over next few years. To manage these properties professionally, thousands of trained, competent and professionally qualified & educated real estate management professionals i.e. property managers are required in India. Surprisingly, there are not even hundred professionally qualified property managers available in the country.

Before going into details, one must understand that property management and real estate management have more or less same meaning. The only difference is that ‘Property Management’ is used mainly in foreign countries whereas in India, usually Real estate Management but in any case both the terms have same meaning as far as management of real property is concerned. In some cases, facility management is also used.

Course Details:

To start a career in Real Estate Management or property management, one must have atleast a diploma in facilities management. But the most sought after course is Two-year program in facilities management, which is not available in India at present.

Career Prospects

A real estate manager or property manager has varied opportunity of employment such as he can choose to work independently or can serve as part of a real estate management team as a liaison. Those real estate managers or property managers who work onsite are usually involved with owners of different properties and their tenants. Some property manager may also serve on real estate management boards to work with projects concerning financial planning, asset management, and resident regulations. The most common responsibilities of property managers are:

• Working with housing societies or resident associations.
• Complying with provisions of local municipal rules and state laws.
• Ensuring that all renting practices are not discriminatory
• Managing electrical, mechanical and civil maintenance.
• Handling security and safety of premise as well as resident/tenants.
• Inspecting grounds and facilities
• Implementing rental regulations and guidelines
• Initiating lease agreements
• Serving as the liaison between owners and the real estate management team
• Marketing and advertising the property
• Providing asset management reports to real estate management supervisors and committees
• Showing apartments or homes to prospective tenants

Remuneration
In India, the trend of working independently by the real estate management professionals i.e. property managers are yet to catch up. Therefore, most of the property managers are working with different organisations, which offer good salary as well as perquisites. A beginner property manager who has done diploma in facilities management can very easily expect Rs. 25000 per month. An assistant property manager should expect to make 40,000-50,000 per month. On the top level a real estate manager can earn a salary of 70,000-1 lakh per month and also can expect an annual bonus along with other fringe benefits.

Institutes Offering Courses in Facilities Management:

Though there are several institutes that offer courses in real estate management, courses in facility management is offered by one or two institutes including the New Delhi based IDS National Institute of Real Estate Management, (IDS NIREM), www.nirem.org

IDS National Institute of Real Estate Management (IDS NIREM) offers Certificate, Diploma and PG Diploma in Facilities Management to cater to the needs of fresh graduates as well as working executives. These courses are offered both as full time programs as well as distance learning programs.

The minimum qualification for PG Diploma in Facilities Management is graduation whereas minimum qualification for Diploma in Facilities Management is class twelfth, whereas a secondary school i.e. class Xth pass student can pursue Certificate Course in Facilities Management.