In today’s bad economic market more people are searching for jobs than ever before. Property management is a thriving business and is a great career to get into. The biggest question people ask though when looking for these types of jobs is, “How much money does a property manager make?”
The truth of the matter is that there are a couple different payscales for property managers which we would like to discuss to help you know the potential money to be made being in a property management job.
The first way to be paid is by salary. Salary pay starts at about $42,000 a year and can go as high as $75,000 per year once you have had enough experience.
The next way to earn money is by using the commission structure of pay. Variable commission is definitely superior to a straight commission model. Variable means that you get paid based on the amount of people you recruit to the property as well as earning residual income on existing contracts. Straight commission does not allow for the residual income and also runs into problems with complying with the FSLA and most HOA companies do not use it.
The third way is a combination of salary and commission pay. For example you may make $30,000 a year base salary but you will also make 15% of all the revenue brought into the HOA company. This can really turn into big bucks you have marketing experience and can sign up a bunch of potential renters.
Become very familiar with HOA guidelines and property management rules that have to do with the state you are looking for a job in. The more knowledge you obtain about this the easier it wil be to wow the interviewer considering you for the job.
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