How Much Do Property Managers Make?
If you are searching for property management jobs you probably have one big question on your mind. It probably is, “How much money does a property manager make?” This indeed is a good question and we will go over the different way typical property managers get paid and how much they make.
1. Salary
The average salaries for property managers vary depending on the years of experience you have in the industry, cost of consumer living in the particular demographic, and the industry designations which are determined by the market and large companies. The average salary is about $42,000 a year and about $75,000 a year on the high end of the pay scale.
2. Commission
A variable commission structure is preferred over a fixed structure as a person looking for property management jobs. This method of pay is determined on how many people you recruit and commission structures based on how many tenants you sign up. There are also some residual compensation for contracts that renew with existing tenants. This type of pay scale is an entrepreneur’s dream, but for most people who don’t like to take risks, this is definitely not the pay structure for you. The straight commission model also creates potential issue with complying with the Federal Standards and Labor Act (FLSA). This issue alone makes this model a bad idea for most HOA management companies.
3. Salary/Commission
Yep you guessed it there is a combined model which gives commission bonus’s for sign ups as well as a structured salary. In this approach, the company avoids any potential problems with FSLA compliance while creating a compensation cost that is as variable as possible. Variable is good because if you work harder, you get paid more.
Here’s an example of how the hybrid model works:
Base salary: $30,000 per year, PLUS
Commission bonus: 15% of all revenue brought into the HOA management company.
If you are currently searching out property management jobs it would be wise to be familiar with the HOA standards and codes to impress future employers because as a property manager you will definitely have to deal with HOA codes of conduct and rules. Please refer to the link section where a free HOA information link is posted to find more information on the workings of HOA.
Hopefully you will understand the three different pay methods as this will help you tack down the exact job you are looking for while searching for property manager jobs. Understanding how much does a property manager make is important to know whether or not to be able to pursue the career. Asking the question of how much do property managers make is a valid one, and we hope the information above will help you in this endeavor
lets exchange link Greg. i’m owner http://free-property-management.blogspot.com site. You can place code property management to your site. email me at shendhychang@gmail.com id you done.thanks..
Are you a professional journalist? You write very well.
Interesting and informative. But will you write about this one more?
И фильмы взяты вроде не с ютуб и др.
Может кто в курсе?
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hi, i was just wondering if i am getting payed less than what i should be earning!
i just finished school and doing property managemnt, im earning 35,000 a year is that to little?
It totally depends on where you live. Places back east pay more than that, but places in the midwest and west are about that to start. I think you are at a pretty average salary for the current recession. However, if you can find an employer that uses the hybrid model, you will be able to make a lot more money.
I manage a property next to a college in San Diego. It’s 80 units, and 100% occupied at all times. How much do you think I should be getting paid. I manage maintenance, groundskeepers, and all vendors. Along with doing advertising on and off campus. I am fully resposible for renewing and renting all apartments. Doing all move outs and move ins with in a 3 month period during the summer. I am thing about asking for a raise but want to know what other people think.
I was working for a large Prop Mangmt company in California, managing a 23 unit complex for just free rent. There was a scandal with a BAD manager and a bunch of people were let go. A year later they approached me, said the bad manager had been let go, and asked me to come back. Now they’re offering a 2 bedroom apt plus 32 hours a week at only $9 a hour to manage a 35 unit complex PLUS “look after” a 19 unit place across town. It seems like I’m being swindled, what do you think? Does the free 2 bedroom place even out the low wage or are they taking me for a ride? Thanks for the article!
Well it completely depends on your demographic, but yeah 9 bucks an hour seems a bit low. 12 to15 dollars an hour seems better for a complex of that size. The best way to defend a higher wage is to make a list of all of the things you do each day. It you can back up the new wage with the work, they should be more able to negotiate with you.
you should at least be making about $35-$40K a year to handle that large of a property.
@D
Yeah I think they are completely low balling you! I’m an asst manager and I make 11/hr I’m salaried for 36hrs and then 11 hourly if I’m over 36. I get rent credit but I have to pay market rent but they take it out of my paycheck before taxes so I’m taxed less and it actually works out really well and it turns out that you make a little more that way with all the savings… like for example im keeping my car but because i never use it and we just use my boyfriends car and the grocery store is a block away i dont pay for gas anymore or car insurance… and as a manager you should get free rent i think and then hourly wage and if you dont live on site you should get like 13-16 an hour for a small property… mine is 144 and the manager gets 15. i was offered a management position for a property around 200 units and they offered me 17 an hour… but i didnt feel ready for that position… ill do management in a year or two…