Does anyone know......

I know that the average property manager in CA makes between $17 and $44 per hour, based on information I found at one of the career sites citing LMI department as the source.

It states that the MEAN is at $35/hour.

Unfortunately; I have not found any source that could allow input of key variables that should have an effect on compensation: primarily size and location of the property, and whether it was conventional or affordable.

I am hoping someone out there knows where I can look to get a report that includes these variables.

Also, I am about to start the requirements to earn the ARM designation; how much of a salary increase can I ask for or reasonably expect with this credential under my arm? (no pun intended) I understand that this range includes all salary and other compensation in the equation.

By "Property Manager" what exactly does that term mean? Does it refer to a managing agent overseeing several different properties? Does that person have a real estate license? Are you talking of, say, the manager of a large apartment complex? Is this person located within a Property Management Company?
I know property management is a rather broad term. In my highest paid year in property management (working for a PMC) I made around 75K. But, I did everything from bread to thread to earn that amount. That year I had the keys to six complexes.
I don't think your talking about a run of the mill apartment complex manager are you?
Even in CA. Around here, your lucky to get a free apartment and about $1000 a month to run a property.
Thanks for a clarification.

Hello Johnny,

I do not know if you have seen this link or not, but I think it is pretty good and should put you in the ball park: socialfresh.com/how-much-money-do-commun...rs-make-infographic/

Sorry for the delay in getting back to this... been watching the events in London...

@Nate: I looked at the link and think it was slightly off base as it appeared to address 'online communities' which is not quite the same thing.


@Herb: I am addressing the manager of what could be a group of small properties representing a variable number of individual residences, either working directly for an owner or through a PMC. In CA, a real estate license is not necessary for a site level manager, but some PMC's require that for a regional level person.

My last position, I earned approximately $32k per year plus benefits and a unit onsite.

@Johnny

When I stated 75K at my highest year earnings, I was a little deceptive. We had the keys to six properties. We were rehabbing one property totally, and I was running paint crews at two others at the same time. I was paying for a lot of labor out of my pocket. My wife skidded on walking away from it several times and half way through that year and had to take off a couple months. We had bitten off way too much to deal with, so while the 75K was gross pay for the two of us, it was no where worth it. Not at all. Even Desert Storm was not that stressful.

I think worth is determined by what someone is willing to pay. Regarding the property management industry, some communities are small and cannot afford a large salary but may offer an apartment and even paid utilities in exchange for the on site person conducting exterior lighting checks, taking care of some on-call issues and lock outs. Larger communities may offer great benefits in addition to a larger salary and an apartment.

Personally, I think you should decide what you NEED in order to meet your expenses and live comfortably. Factoring in benefits and an apartment will also add to the overall compensation package. All of this you know. But going in thinking a company should pay you X dollars simply because of the number of units of the property and the fact that you have a designation may not be the most important determining factor in the long run.

I have seen Managers make "diddly squat" taking care of two properties just because they are "inexperienced" and I have seen others make 50K on medium sized properties because they work hard and are rewarded for their efforts. Everyone is different. It's up to you to sell your value once an offer is made. For example, you NEED $35K and an apartment but you don't have a college degree or any industry designations, and the property you are being offered a position to manage has declining occupancy, criminal history and a sorry reputation but want to offer 30K - all of those things you KNOW and have PRIOR PROVEN experience in turning around. Your experience would be a very influencial and necessary negotiating factor. If you already know their company accounting software and won't require any training, you can factor that in as well.

There are so many things to think about in a negotiation for salary. Sometimes if you are open-minded and understand there are a lot of negotiating points, this helps two people come to a mutual agreement. There has to be some give and take.

So how about this approach, Mindy:

'While I feel it is too early in the process to discuss salary at this time, let's just say I have done my research and know what the average should be for a position of this nature. However, we have discussed some of the challenges you are faced with; all of these are challenges I have met successfully. I would hope to be compensated fairly for the position based on what skills and experience that I bring to your team.'

If I feel the position is offering less than what it should; I would counter with an offer to revisit the compensation 90 days after hire, or base compensation on performance milestones in some way.

Oh absolutely, offering to wait for a salary increase after 90 days is a nice tactic! Don't sell yourself short either! In lieu of a larger salary, too, you can ask if the company provides educational opportunities and reimbursements. I think that is a fantastic perk. Just a thought, for me, I don't discuss anything salary related until the hiring person brings it up. I feel more comfortable hearing the offer on the table, so to speak, before starting the negotiation process. In my experience, usually, the company person says something about how much they like me and would like to offer me the postiion. Then I ask them what their offer is .... and then it starts.

That is exactly what I was thinking.

But if the hiring company brings it up too early, or if they ask for it as part of the response to the posting; how would you respond to this without pricing yourself out of the position before even being interviewed? This is problematic especially when there are no indications of compensation in the posting (simply stating something like 'salary based on experience', if anything at all).

I have this (or a similar) sentence at the bottom of my cover letter and need to revise it so I am not ruled out too early:

'Most recent salary: $xx/hr + med/dental/life/housing (approx. $xxx/yr + benefits) Desired Salary range: negotiable from same, as relocation would be needed.'

While responding to an ad and salary expectations is listed as a prerequisite, I add the sentence about being flexible and confident that you will reach a fair compensation based on what your education, experience and talent will add to their company. Then you can list a range of x dollars to x dollars. Using the term "hope" reduces your negotiating power; I wouldn't use that word. It's a complicated process. It would be nice if any HR Directors out there would add their expertise to your post as I am no expert recruiter!

One thing I have learned since joining the forum is the great seeming difference in the way various posters view the "Apartment Management or Property Management" business. It sometimes gets fuzzy because someone works at the PMC, someone runs a huge complex, someone is a corporate VP, and someone else is a manager of a 24, 32,48, 0r 75 unit complex, and another is a maintenance person. Some work under a stated chain of command, or corporate position rated climate, and others just "exist" from day to day. Pay is a whole "nother animal.
In the subsidized world, such as USDA-Rural Development projects, the pay is included in the O&M budget prepared by RD. There is not a lot of play in the amounts that can be offered by the PMC. Some PMC's can "rob Peter to pay Paul" (more money) by sneaking some funds from a seldom used area, and funneling those to the manager without actually showing it done.
Other fritzy Marketed mainstream complexes are done with "nice salaries" just as if it was any other kind of business. I know those can be pressure cooker jobs at times. You might get 40K a year, but the Good Lord help you if occupancy drops, or O&M funds go over budget, or complaints come in, your fault or not. Ever want to be a WalMart manager? Me neither!
For salary and money made, I operated under this pay system and it worked well for me:

PAY SYSTEM:

"The PMC I worked for wrote a whole lot of checks concerning the properties I was responsible in any given month

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I insured my name was on as many of them as possible". The more you do, the more you make.