Real estate investment trusts (REITs) are a type of company that owns or operates real estate properties and equity interests in real estate ventures. As of December 2017, there are nearly 700 publicly-traded REITs listed on U.S. exchanges, which invest in real estate properties such as office buildings, hotels, apartments, and warehouses. These companies generate income from their properties by renting them out to tenants or leasing them to operators who manage them.
To become a REIT, a company must meet certain requirements set by the IRS and meet a list of specific criteria outlined by the SEC. These companies typically pay their employees well because they demand expertise in accounting, property management, corporate law, and other fields related to operating a real estate company. Here are the best-paying jobs in REPRs:
The chief investment officer is responsible for selecting and managing the fund’s investments. The CIO directs all investment activities, including the acquisition, liquidation, and management of the fund’s assets. CIOs are involved in the fund’s strategy and typically report to the fund’s board of directors.
This position can be challenging, as it requires strong communication skills and the ability to build relationships with fund managers and other stakeholders. The CIO should have a strong knowledge of investment analysis, investment strategies, and the real estate and capital markets. The CIO also should have expertise in risk management and investment strategy.
The chief financial officer is responsible for managing the company’s financial and accounting functions. The CFO reviews the company’s financial results and prepares financial reports. The CFO also directs the company’s accounting and finance departments, including the payroll and benefits administration.
CFOs often is responsible for creating financial plans, implementing financial policies and procedures, and developing budgets for the company. A CFO should have extensive knowledge of accounting and financial metrics, such as cash flow, return on investment, and earnings before taxes. Overall, CFOs should have strong communication skills and be able to manage a team.
The vice president of property management is responsible for managing the company’s real estate assets. The vice president of property management directs the company’s property management staff and is responsible for the daily operation of the real estate portfolio.
Property managers oversee the day-to-day operation of the company’s real estates assets, such as leasing, accounting, maintenance, and utility management. They also oversee the company’s relationship with contractors who work on their properties. This position may require travel as the property managers oversee daily operations at different properties.
Property managers need strong leadership skills and excel in a multitasking environment. Property managers should have knowledge of real estate laws and property management concepts.
The vice president of real estate development is responsible for managing the company’s real estate development activities. The vice president of real estate development directs the company’s development staff and is responsible for managing the fund’s development activities. This position requires strong leadership skills and excellent communication skills.
The vice president of real estate development should have excellent management skills and strong knowledge of construction operations, development economics, and real estate operations. This person also should have a thorough understanding of zoning laws, financial modeling, and project management.
The vice president of accounting and tax is responsible for managing the company’s accounting and tax functions. The vice president of accounting and tax directs the company’s accounting and tax departments and is responsible for managing the fund’s accounting and tax functions. This position requires a person who is detail-oriented and has excellent communication skills.
The vice president of accounting and tax should have a thorough understanding of financial reporting, tax regulations, and accounting concepts, such as cash flow and earnings before taxes. This person should be able to create and implement financial policies and procedures.
The best-paying jobs in REITs typically require a strong background in accounting, financial analysis, and property management. To become a REIT, a company must meet certain requirements set by the IRS and meet specific criteria outlined by the SEC. If you’re interested in pursuing a career in real estate, you might want to consider the best-paying jobs in real estate investment trusts.
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