"How much does a property manager make per year," is the one of the first questions that many people ask when looking for a property management job. In a really bad economy this information is very valuable when searching for a career like this.
Property management positions pay differently than that of other property manager job positions and companies. We are going to go over the different ways a property manager can get paid so you can make an educated decision on whether or not this career path is right for you.
$42,000 dollars is the starting salary base pay but can go up to $75,000 per year once you have enough experience under your belt and have been in the industry a while. Raises are periodically given and continue if you stay at the same company for a while.
Commission structures are the next pay model that a property manager could be paid. There are usually two different types of commission pay scales. The first is a variable commission structure which means you get paid on new renters but you will earn residual on existing contracts that you signed up in the past. Straight commission works differently as it does not allow you to earn the residual income and has a lot of compliance issues with FSLA and HOA guidelines.
The hybrid pay scale model is a combination of commission and salary pay scales. You have the opportunity to make make some serious money on this pay scale as base starting salary is about $30,000, but you could make 15% commission on all revenue the property management company makes as a whole for the year. If you are a good salesman or are a master of marketing techniques you could make some serious money.
Become very familiar with HOA guidelines and property management rules that have to do with the state you are looking for a job in. The more knowledge you obtain about this the easier it wil be to wow the interviewer considering you for the job.
Property management positions pay differently than that of other property manager job positions and companies. We are going to go over the different ways a property manager can get paid so you can make an educated decision on whether or not this career path is right for you.
$42,000 dollars is the starting salary base pay but can go up to $75,000 per year once you have enough experience under your belt and have been in the industry a while. Raises are periodically given and continue if you stay at the same company for a while.
Commission structures are the next pay model that a property manager could be paid. There are usually two different types of commission pay scales. The first is a variable commission structure which means you get paid on new renters but you will earn residual on existing contracts that you signed up in the past. Straight commission works differently as it does not allow you to earn the residual income and has a lot of compliance issues with FSLA and HOA guidelines.
The hybrid pay scale model is a combination of commission and salary pay scales. You have the opportunity to make make some serious money on this pay scale as base starting salary is about $30,000, but you could make 15% commission on all revenue the property management company makes as a whole for the year. If you are a good salesman or are a master of marketing techniques you could make some serious money.
Become very familiar with HOA guidelines and property management rules that have to do with the state you are looking for a job in. The more knowledge you obtain about this the easier it wil be to wow the interviewer considering you for the job.
About the Author:
Philip writes articles about property manager jobs and writes for property management salary
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