What does a commercial property manager actually do?
You look after offices, shops and industrial sites on behalf of owners. Your work is mostly about leases and money. One Property Council job ad sums it up well: keep the tenancy schedule current, prepare lease documents and disclosure statements, act on lease renewals, carry out rent reviews on time, chase arrears, manage maintenance and report on budgets and outgoings.
Outgoings are the owner's costs that a tenant has agreed to pay on top of rent. Think land tax, council rates, cleaning, security, insurance and management fees. You estimate them each year, recover them from tenants and reconcile them at year end. That cycle drives much of the calendar, with budgets prepared before 30 June and audited statements after it. You also manage the contractors who keep the building running.
Which licence applies to commercial work?
There is no separate commercial licence in the three biggest states. Commercial management sits under the same real estate licensing as residential. NSW Fair Trading says you need a real estate agent licence to lease and manage real estate for clients, and that includes collecting rent and providing property management services. You start on an assistant agent certificate of registration, then move up to a class 2 licence.
In Victoria you work as an agent's representative under a licensed estate agent. From 25 November 2026 you must apply through myCAV for your own registration with the Business Licensing Authority before you start work, and annual CPD applies from 1 April 2027. In Queensland the Office of Fair Trading issues a real estate salesperson registration certificate for people working under a licensee. Note that the NSW class 2 course units are mostly residential sales and property management. Commercial knowledge comes mainly from the job itself.
Why retail leases law matters
Shop leases have their own legislation in each state, and most commercial portfolios include some retail. In NSW the Retail Leases Act 1994 requires outgoings to be meaningfully disclosed, directly and reasonably related to the shop, and connected to managing, operating, maintaining or repairing the building or centre.
The landlord must give the tenant a disclosure statement at least seven days before a new or renewed lease begins. Estimates of next year's outgoings are due before the financial year ends, and audited statements within three months after it. Outgoings that were never disclosed may not be recoverable. Mistakes here cost owners real money, so employers test this knowledge in interviews.
Moving across from residential
Residential property managers already know trust accounting, arrears, maintenance and dealing with tenants, and all of that carries over. The gaps are commercial leases, rent review mechanisms, outgoings budgets and reconciliations, and the retail leases rules. Portfolios usually have fewer properties but much larger rents, and each lease is negotiated individually.
A common route is to join a commercial team as an assistant property manager or a portfolio administrator. You learn the lease administration and outgoings work under a senior manager, then take on your own portfolio. Employer ads ask for experience in the commercial sector, sound knowledge of commercial documents and legal requirements, and a tertiary property qualification or real estate certification.
Pay
AUD a year, before tax. Typical figures are based on ABS Employee Earnings and Hours, May 2025, moved to 2026 with a wage index; state figures are modelled. The award minimum is the official Real Estate Industry Award 2020 rate from 1 July 2026. Portfolio size, asset type and employer move actual pay. Refer to the Commercial Property Management salary guide for figures from live adverts.
What you need
- AgeYou must be 18 for a Victorian agent's representative or a Queensland salesperson registration. In NSW you can hold an assistant agent certificate of registration from 16.
- Entry trainingNSW assistant agents need 5 core units of the Certificate IV in Real Estate Practice (CPP41419). Queensland salespeople need set units from the same qualification.
- Victorian educationFirst-time agent's representatives need 15 named units of the Certificate IV in Real Estate Practice (CPP41419), completed within the last 5 years.
- Character testsEvery state applies a fit and proper or suitable person test. Victoria disqualifies people with certain fraud, dishonesty, drug trafficking or violence offences in the past 10 years.
- SupervisionNSW assistant agents must work for a licence holder and under a class 1 licensee in charge. Victorian representatives work for a licensed estate agent and need written authority from them.
- Ongoing CPDQueensland registrants complete two approved CPD sessions every CPD year. NSW assistant agents complete at least 3 units of the Certificate IV each CPD year.
- Commercial skillsEmployers look for knowledge of commercial leases, rent reviews, outgoings budgets and reconciliations, arrears and maintenance management. Many also ask for a tertiary qualification in property.
State by state
| New South Wales | Start with an assistant agent certificate of registration. It runs for 4 years and cannot be renewed. You need a class 2 real estate licence within that time, after at least 12 months registered and a completed work experience logbook. |
|---|---|
| Victoria | Work as an agent's representative for a licensed estate agent. From 25 November 2026 you must apply through myCAV for your own registration with the Business Licensing Authority before you start work and pay an annual fee, and annual CPD applies from 1 April 2027. |
| Queensland | Apply to the Office of Fair Trading for a real estate salesperson registration certificate. You need to be 18, a suitable person, have the required units and pass a criminal history check. Approval takes 4 to 6 weeks. |
How to get there
- Before you startComplete the entry unitsEnrol with a registered training organisation and finish the units your state requires from the Certificate IV in Real Estate Practice (CPP41419).
- Month 0-3Get registeredApply for NSW registration as an assistant agent or Queensland salesperson registration. In Victoria, from 25 November 2026 you must apply through myCAV for your own agent's representative registration with the Business Licensing Authority before you start work, and keep working under a licensed estate agent. Annual CPD applies from 1 April 2027.
- Year 1Join a commercial teamTake an assistant property manager or portfolio administrator role. Learn tenancy schedules, rent reviews, arrears and outgoings reconciliations.
- Year 1-4Upgrade your licenceIn NSW, finish the full Certificate IV and the work experience logbook, then apply for a class 2 licence after at least 12 months registered.
- Year 2-5Run your own portfolioTake on your own office, retail or industrial assets. You become responsible for budgets, lease negotiations and contractor management.
- Year 4+Move upAfter 2 years on a class 2 licence, NSW agents can apply for a class 1 licence. Others move into senior portfolio, centre or asset management roles.
Open now on PropertyRoles.com.au
Questions people ask
Do I need a separate licence for commercial property management?
Not in NSW, Victoria or Queensland. Commercial management falls under the same real estate licensing as residential work. NSW requires a real estate agent licence to lease and manage property for clients, and Victoria and Queensland use the agent's representative and salesperson registrations.
Can a class 2 licence holder in NSW run the trust account?
No. Class 2 holders cannot open or manage a trust account, and they cannot be nominated as licensee in charge of a business. That requires a class 1 licence, which you can apply for after holding a class 2 licence for 2 years.
What are outgoings and why do they matter so much?
Outgoings are the landlord's expenses that a tenant has agreed to pay on top of rent, such as rates, land tax, cleaning, insurance and management fees. In NSW retail leases they must be disclosed, budgeted before the financial year ends and backed by audited statements within three months after it. Getting them wrong can leave the owner unable to recover the costs.
Is commission-only pay allowed in commercial leasing?
Under clause 16.7 of the Real Estate Industry Award, commercial, industrial or retail leasing staff at Level 2 or above can agree in writing to commission-only pay. Casuals, part-timers and juniors cannot. You must also have earned at least 125% of the classification rate over 12 consecutive months within the previous 3 years.
Is a university degree required?
No state requires one for registration. Many commercial employers still prefer a tertiary qualification in property, and some accept equivalent experience or real estate certification instead. A degree matters more for larger institutional landlords and government property teams.
Sources
- NSW Fair Trading: assistant agent certificate of registration
- NSW Fair Trading: real estate agent licence
- NSW Government: CPD requirements for property professionals
- Consumer Affairs Victoria: agents' representatives
- Consumer Affairs Victoria: myCAV and registration requirements for agents' representatives
- ABLIS: Queensland real estate salesperson registration
- NSW Small Business Commission: what are outgoings?
- NSW Small Business Commission: Retail Tenancy Guide
- Property Council Australia: careers in commercial property
- Fair Work: Real Estate Industry Award 2020
