You are here:

Residential Property Management/The Avg pay for an apartment manager

Advertisement


Question
QUESTION: Hi,
I am in Rapid City SD, The company has 4 properties here all in the 250 to 300 unit range.
2 older properties built in 1985 and 2 built in 2010
What is the going pay for a apartment manager? who is in charge of all bill paying, collecting of the rent, screening and approving/denying prospects,supervising the maintenance and the leasing team. ordering and approving supplies for turn overs,and all other aspects of property management. They all have an assistant manager to assist them.
the two older properties rent range from 1-$639,2-$759,3-$859
the two newer properties rent range from 1-$900, 2-939,3,$1,269

ANSWER: Wish I could answer this for you but there is no standard of pay in this industry. It varies widely by location and numerous other factors so there's no way to give a meaningful answer. Most of the time it is a combination of salary,  perks (such as free rent), and incentives (such as leasing bonuses). If you're applying for a position with the company, they'll likely have a compensation structure already in place. If you already work there and are looking to see if you're fairly compensated, you'll need to check what other local companies are offering.  Best of luck.

---------- FOLLOW-UP ----------

QUESTION: I am trying to explain to my owners why the higher upscale apt managers should get paid more than the C properties.
Any advice
Thank you

Answer
Understood,  but again there is no standard when it comes to salary ranges. If you feel you are being underpaid, then ask for a raise. The property owner will then need to determine if you are worth more, or whether they can find equal talent for what you are being paid now. The market will determine that, and as I mentioned earlier,  it varies quite a bit from location to location.

Residential Property Management

All Answers


Answers by Expert:


Ask Experts

Volunteer


Mike Fortunato

Expertise

Very familiar with all aspects of property management (tenant/landlord issues, lease administration, facilities maintenance, financials, etc). 25+ years in property management

Experience

I have been in real estate management for 25+ years, both residential and commercial properties. Currently own and operate a commercial and residential real estate management company in southern California.

Organizations
IREM; BOMA; MLS; National Association of Realtors; California Association of Realtors

Education/Credentials
CPM (Certified Property Manager) and RPA (Real Property Administrator)

©2016 About.com. All rights reserved.