Hi!
Just wondering what average raise is when going from leasing consultant to assistant community manager. About 400 units.
(In major city)
Thanks ahead of time!
TBH, you can get away with low-balling, because there's always a leasing agent who would be happy just to move up (right here). I've settled for $4. The fairest raise I've ever received was when the new property management team took me on in a take-over. And they were honest by saying they needed an assistant who will also lease in a lease-up. I didn't want to do both, but they offered $6 more plus commission and quarterly bonuses, so I couldn't turn it down.Edit to add: I'm reading these comments and should also mention in my AM positions, I only worked one weekend a month and also received renewal bonuses... except the lease-up because o was the only leasing rep. In which case i got one weekend off.
We jumped our assistant up $15,000 when she went from Assistant Manager to Community Manager for 200 high rise senior/disabled units, And then her annual increase in May also based on her new salary. We also gave her an AR Specialist/Assistant Manager full time to help her with the workload. It is a HUD/TC property so there is a lot of paperwork involved. If you've got good people you want to keep good people!
When I got that promotion (it was over 10 years ago so take that into account) I went from $10/hr to $18ish I think. Plus delinquency bonuses. And renewal bonuses. And leasing bonuses, obviously.
Our hourly wage isn’t much higher, but our AM earns commission on renewals. LCs average $500 / month commissions, where renewal commissions I’ve seen anywhere from $1500 to $2500 / month.
I just started AM from leasing a year ago. It seems to me it's equal or even less pay than leasing. Because the commissions are not as good even though the hourly is more. I no longer work weekends which is nice. I see in our industry that it is really very very different situations across companies and properties.
Check payscale.com. That will give "fair market value" for the person's experience in your specific market. I found that I make much more in Colorado than I likely would if I had moved to Florida.
Your local HR team , even the PM should be willing to share pay ranges by job. Values should be in quartiles.In most cases, a company is reluctant to offer more than 20% increase for job changes. It is a stupid rule.If you are asked to take bottom quartile pay, ask, what success do I need to demonstrate to get to mid range pay ?Then go do it.
Got promoted from LC to APM at same the same complex and got a $2 raise. Took a job across country for a $18 pay raise. The money is out there (11 months experience as an APM)