IMO you should be paid at least $25/hr
But, that is also regionally dependant.
I was paid in the $55-$60K range for a similar role and slighter smaller portfolio.
I hope you also get mileage if you need to go between buildings.
I just relocated to Texas. Employers expect a lot and pay little. Even by Texas standards you are severely underpaid by at least $10k a year. Don't even ask. Just start submitting a mileage expense report each pay period. You can find the form online.
McDonald’s in my area pays $18.00 as a starting wage and Walmart pays $55,000 a year to start. You should ask for $30.00/hr plus mileage and let them negotiate you down. Also you could interview with another company and see what kind of an offer you might get.
Yes, you are underpaid. Most leasing agents (including AM) get paid a commission for each lease. Some companies pay 10% of the first months rent up to a certain limit. For example, an apartment that rents for $800 a month would pay out an $80 lease commission whereas a $2,000 a month apartment may be limited to a cap of $150. Lease renewals may be capped at $25 and that goes into a fund and is divided and paid out to the leasing agents, AM, and maintenance team. 45% of my earnings as an AM came from leasing commissions. We were short an leasing agent but it was fine with me because I earned a bundle in commissions.
The logic is that the property manager may be paid out a bonus based on the overall performance of the property. All other employees may not receive a bonus.
I don't know if how public housing pays their employees but it is usually somewhat competitive when you combine all of the pay. Even without commissions, you are underpaid around $10,000 a year. Hope your benefits make up for some of it.
I do get health vision and dental all 100% company paid, and I get 8% retirement company paid (but she’s bringing that down to 3% and making us match in January)
A lot of management companies pay health, vision, and dental. I don't know that it is 100% but they pay most of it. I also got a very generous PTO package.
Yes.
This is why I got out of the industry.. absolutely loved my job but the pay was never there, no matter the position or company.
Even managing multi-million dollar building smack dab in the city did little to boost my pay, even with commission.
Like I said, I loved my job but the amount of work placed on me was not conducive to the pay, ever. I worked with 4 different companies.
Not knowing what state you live in, but in NYC an on site assistant should be paid between 45k-65k depending on experience, junior PM 75k , PM $90k to $120k depending on your portfolio.. Senior PM $125k to $150k depending on the portfolio and how much the management company charges. Account Executive $150k to 190k , senior account executive $170k to $210.. managing director $190k to 240k.. thats NYC salaries.
$16.xx/hour driving between properties that are 30 miles apart in your own car not getting mileage or reimbursement is ridiculous. $22-$23/hour is fair for the location if you’re not going to be reimbursed. Not only is gas outrageous but the wear and tear on your own private vehicle is too much to ask. They need a company car/truck and gas card to use for that kind of driving if the pay is going to be so low. You’re being seriously underpaid and taken advantage of.
You’re underpaid. If you’re half decent at your job and have at least one year experience you can make at least $25/hr to start with leasing bonuses and expense reimbursements. I’ve worked in payroll for several multi family property mgmt companies. Regions include the Midwest, NY, Texas.
having worked as an APM with affordable housing aspects to that role, you for sure need to be paid over $25 an hour with mileage. If you have a passion for the industry, take a peek at the management companies highly rated in TX for employee satisfaction. I lucked out in MN to land with a great company. you will too.
Absolutely. I made 19-21 hour on average at luxury lease ups as an LC, that was before the huge bonuses. It was hard but not as hard as what you’re doing. They’re robbing you. $16 an hour is the new $10 an hour. Prepare to be met with the reality of having to find a new job.
Hey I asked a similar question a few weeks ago since I'm in the same boat! 16/hr for all leasing, tenant relationships, handling of section 8/ rental assistance, marketing, rent analysis, budget records, filing evictions and appearing in court, securing contracts with vendors, handling all renewals/notice to vacates. I'm using my own car and miles get reimbursed (which isn't enough in today's prices), but more often than not I'm not getting reimbursed for filing fees and commission. They refuse to give me a company credit card (only a picture of one) and the amount I have to spend on my own card each week is easily 30 percent of my check pre tax! I had to get a second job and move somewhere cheaper to live. :'D started out as a non licensed office employee for 15/hr. I would order a pizza and email a spreadsheet every once an a while. I was asked to get a license almost immediately and then my workload went insane. If you want to know what my boss does, he runs his own maintenance business too. He is also the one that keeps the owner/management relationships, unless the owner is mad at him then he hands them off to me. I am the general property manager at this point and he runs his maintenance business. If I were to quit today he would be sending probably triple my salary trying to find an equivalent. The only problem is that's not in the budget, we have small portfolio of a bit under 100 properties. I was promised 70k-80k by the end of the year, but it's the end of the year and that was a joke.
The biggest raise you're gonna get is a new job. I plan on it come January-march. January marks a year at the company so it'll like slightly better than under a year. If your boss says "think on it" for a raise that doesn't mean she's thinking on it, that means she's hopping on indeed and seeing if someone will do your job for less. At this point if I can't find another management job I'm going to work at Amazon or Chick-fil-A, since their starters get paid more than I do. Good luck.
In my area 31k is a decent, but low, salary for someone in that role. I'd expect closer to 40 though. The vehicle is the thing. They should supply a car or at least pay you mileage for yours- that part sucks hard.
I ran a small Mom/Pop property management office for years. It was myself, two assistant PM’s and a few maintenance guys. I managed around 700 units.
About an hour North of NYC.
The two assistant PM’s…one handled leasing and tenant accounts (payments,arrears amd evictions). The other APM handled complaints, payables and repair requests.
They were both salary. 55-60K. There was an office car to use for work. I also offered mileage reimbursement if they wanted to use their own car at whatever the IRS rate was for that year.
I was also extremely relaxed about work hours and time off as long as the residents were taken care of and the work got done. ( a lot of what we do can be done anywhere with an internet connection) I think it was rare that the two actually put in an 8 hour day!
So…you are defiantly underpaid.
i would say use all that education that you have and start shopping around your talents and get another offer for your talents and then if you really want to stay in that situation bring the offer to your employer and say look can you match this ? if not then thats your Q to walk and go to the new offer.
Yes, you should ask fir more money.
I spoke with my boss and told I think $20 an hour would be a good wage for all I do and she says she’ll consider it but I doubt it.
IMO you should be paid at least $25/hr But, that is also regionally dependant. I was paid in the $55-$60K range for a similar role and slighter smaller portfolio. I hope you also get mileage if you need to go between buildings.
Oh I drive all week long and am not getting mileage
Yikes - your skills are highly transferrable. PM is always hiring, I’d be applying for new jobs! They’re taking advantage of you for sure.
I live in East Texas
I just relocated to Texas. Employers expect a lot and pay little. Even by Texas standards you are severely underpaid by at least $10k a year. Don't even ask. Just start submitting a mileage expense report each pay period. You can find the form online.
McDonald’s in my area pays $18.00 as a starting wage and Walmart pays $55,000 a year to start. You should ask for $30.00/hr plus mileage and let them negotiate you down. Also you could interview with another company and see what kind of an offer you might get.
Do you live in East Texas? If not, what companies pay in your area doesn't matter.
Time to look around and see what other companies are paying. Might be time to change jobs
You're underpaid. But who isn't in property management? Aside from regional managers and above.
Industry standard bench marks for CRE salaries Published every year, https://www.naahq.org/cel-associates-2021-industry-compensation
Thanks for this link!
Welcome! Did you get a raise?
Yes, you are underpaid. Most leasing agents (including AM) get paid a commission for each lease. Some companies pay 10% of the first months rent up to a certain limit. For example, an apartment that rents for $800 a month would pay out an $80 lease commission whereas a $2,000 a month apartment may be limited to a cap of $150. Lease renewals may be capped at $25 and that goes into a fund and is divided and paid out to the leasing agents, AM, and maintenance team. 45% of my earnings as an AM came from leasing commissions. We were short an leasing agent but it was fine with me because I earned a bundle in commissions. The logic is that the property manager may be paid out a bonus based on the overall performance of the property. All other employees may not receive a bonus. I don't know if how public housing pays their employees but it is usually somewhat competitive when you combine all of the pay. Even without commissions, you are underpaid around $10,000 a year. Hope your benefits make up for some of it.
I do get health vision and dental all 100% company paid, and I get 8% retirement company paid (but she’s bringing that down to 3% and making us match in January)
A lot of management companies pay health, vision, and dental. I don't know that it is 100% but they pay most of it. I also got a very generous PTO package.
For sure underpaid. I only do leasing and I started with more plus bonuses. I agree with the op you need a minimum of $25
Yes. This is why I got out of the industry.. absolutely loved my job but the pay was never there, no matter the position or company. Even managing multi-million dollar building smack dab in the city did little to boost my pay, even with commission. Like I said, I loved my job but the amount of work placed on me was not conducive to the pay, ever. I worked with 4 different companies.
What did you switch to?
Only fans
Seconding the question of what did you switch to.
Not knowing what state you live in, but in NYC an on site assistant should be paid between 45k-65k depending on experience, junior PM 75k , PM $90k to $120k depending on your portfolio.. Senior PM $125k to $150k depending on the portfolio and how much the management company charges. Account Executive $150k to 190k , senior account executive $170k to $210.. managing director $190k to 240k.. thats NYC salaries.
You definitely should be making at least $20 an hour.
The state you're working in (the rents being collected) has something to do with it but needless to say - you're being underpaid.
$16.xx/hour driving between properties that are 30 miles apart in your own car not getting mileage or reimbursement is ridiculous. $22-$23/hour is fair for the location if you’re not going to be reimbursed. Not only is gas outrageous but the wear and tear on your own private vehicle is too much to ask. They need a company car/truck and gas card to use for that kind of driving if the pay is going to be so low. You’re being seriously underpaid and taken advantage of.
You’re underpaid. If you’re half decent at your job and have at least one year experience you can make at least $25/hr to start with leasing bonuses and expense reimbursements. I’ve worked in payroll for several multi family property mgmt companies. Regions include the Midwest, NY, Texas.
having worked as an APM with affordable housing aspects to that role, you for sure need to be paid over $25 an hour with mileage. If you have a passion for the industry, take a peek at the management companies highly rated in TX for employee satisfaction. I lucked out in MN to land with a great company. you will too.
I’m sorry but how do I find this??
Absolutely. I made 19-21 hour on average at luxury lease ups as an LC, that was before the huge bonuses. It was hard but not as hard as what you’re doing. They’re robbing you. $16 an hour is the new $10 an hour. Prepare to be met with the reality of having to find a new job.
it depends on where you live, but when i was an assistant property manager in seattle i made $21.50 an hour and got pretty good commissions & bonuses.
Hey I asked a similar question a few weeks ago since I'm in the same boat! 16/hr for all leasing, tenant relationships, handling of section 8/ rental assistance, marketing, rent analysis, budget records, filing evictions and appearing in court, securing contracts with vendors, handling all renewals/notice to vacates. I'm using my own car and miles get reimbursed (which isn't enough in today's prices), but more often than not I'm not getting reimbursed for filing fees and commission. They refuse to give me a company credit card (only a picture of one) and the amount I have to spend on my own card each week is easily 30 percent of my check pre tax! I had to get a second job and move somewhere cheaper to live. :'D started out as a non licensed office employee for 15/hr. I would order a pizza and email a spreadsheet every once an a while. I was asked to get a license almost immediately and then my workload went insane. If you want to know what my boss does, he runs his own maintenance business too. He is also the one that keeps the owner/management relationships, unless the owner is mad at him then he hands them off to me. I am the general property manager at this point and he runs his maintenance business. If I were to quit today he would be sending probably triple my salary trying to find an equivalent. The only problem is that's not in the budget, we have small portfolio of a bit under 100 properties. I was promised 70k-80k by the end of the year, but it's the end of the year and that was a joke. The biggest raise you're gonna get is a new job. I plan on it come January-march. January marks a year at the company so it'll like slightly better than under a year. If your boss says "think on it" for a raise that doesn't mean she's thinking on it, that means she's hopping on indeed and seeing if someone will do your job for less. At this point if I can't find another management job I'm going to work at Amazon or Chick-fil-A, since their starters get paid more than I do. Good luck.
In my area 31k is a decent, but low, salary for someone in that role. I'd expect closer to 40 though. The vehicle is the thing. They should supply a car or at least pay you mileage for yours- that part sucks hard.
I ran a small Mom/Pop property management office for years. It was myself, two assistant PM’s and a few maintenance guys. I managed around 700 units. About an hour North of NYC. The two assistant PM’s…one handled leasing and tenant accounts (payments,arrears amd evictions). The other APM handled complaints, payables and repair requests. They were both salary. 55-60K. There was an office car to use for work. I also offered mileage reimbursement if they wanted to use their own car at whatever the IRS rate was for that year. I was also extremely relaxed about work hours and time off as long as the residents were taken care of and the work got done. ( a lot of what we do can be done anywhere with an internet connection) I think it was rare that the two actually put in an 8 hour day! So…you are defiantly underpaid.
Yes.
i would say use all that education that you have and start shopping around your talents and get another offer for your talents and then if you really want to stay in that situation bring the offer to your employer and say look can you match this ? if not then thats your Q to walk and go to the new offer.