Jobless claims are still high and the markets are tying to recover from the last 2 years of our economic recession.  Many people who have worked at a job for over 20 years have been laid off, trying to provide for themselves and their families.  Is there hope of finding a good paying job anymore?  Abosulutely!

The secret is knowing what types of jobs to look for, and property management is in high demand at the moment.  High paying property management jobs are definitely available, but you have to look for them in the right spot.  Too many people just go to their nearest apartment complex and ask them if they are hiring.  Although this may work, you won’t make the high salary you are looking for most of the time.

The trick to making more money with property management is to go to the large property management groups.  These groups, or firms, often manage hundreds of rentals, a few apartment complexes, and even whole HOA subdivisions.  This is where he big money is!  These groups and firms pay out a lot more money than other employers because of the scale and revenue they bring in each month.

Now that you know where to look for the big money job, what are the tricks to landing it?  Too many people think that a landlord should be touch and stern to get that rent payment everymonth.  The truth is that a property management firm would rather someone work out a payment schedule instead of not paying and leaving.  A property manager should be a people person and be able to possess empathy as they try to keep people in their apartments while also trying to collect full rent payments.  Being stern and motivated is important, but if you can cultivate a good relationship with your renters, you will see that you will make the property management group a lot more money.

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