2007-02-26 04:21:32 · 6 answers · asked by Jodi U 1 in Business & Finance ➔ Renting & Real Estate
Are you living on the property?
If you aren't the standard fee is 6%.
2007-02-26 04:24:59 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Depends on the size and amount of properties and how much the properties are worth..
For a property that is perhaps five floors high with 5 rooms on each floor and each unit is 100,000, rent is $3000 a month, then you should get at least $36,000 to $55,000.
Since this is a profession, I would ask for $60,000. Again, it all depends on the amount of properties you manage as well. But if it is just one, I would figure you should get the value of least one of them. However, it depends again the the amount of money being taken in.
If in fact you have a complex with concierges and maintenance, this figure could skyrocket. With strata fees that can be as muck as $1100 for some units, if you have three towers with 250 units, your fee should be $99,000 as you should only get 3% due to other labour involved
2007-02-26 12:38:30 · answer #2 · answered by Randy P 3 · 0⤊ 0⤋
The two previous answers were excellent. I only want to add that be sure of the laws in your state. Some states require licensure. In some states it is considered a felony to operate as a property manager without a license. This also depends upon how many units you are managing.
2007-02-26 12:34:37 · answer #3 · answered by walkathisway 2 · 0⤊ 0⤋
It depends on how many units, are you onsite, do you have staff you supervise and other factors. But a rule of thumb is 5% of the monthly rent you collect.
When I was a property manager of a 176 unit complex I received $40,000/yr + Monthy bonuses + Free 2 bd apartment. (This is in Los Angeles, CA.)
2007-02-26 12:29:04 · answer #4 · answered by The Drew 4 · 1⤊ 0⤋
It's going to depend on the state in which you live, how much experience that you have, and whether or not you have any professional designations. There are some helpful websites out there that give nationwide estimates on different positions-google "salary estimator" and you'll have plenty to choose from.
I will tell you this-if you have your CPM designation, you are looking at about 70K a year. Also-# of units is a determining factor.
2007-02-26 12:29:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Usually you get a discount on your rent.
2007-02-26 12:26:58 · answer #6 · answered by katie d 6 · 0⤊ 0⤋