Assistant Property Manager Salary
Job Description for Assistant Property Manager
Assistant property managers oversee the daily activities of one or more rental properties; these are typically residential properties, such as large apartment buildings or condominiums.Read More...
Assistant property managers work under a senior manager and are often be the first contact with potential tenants. They discuss lease agreements, show apartments, and host open houses. They may review applicants by running background or credit checks and checking references. Once moved in, tenants typically communicate with assistant property managers regarding paying rent or negotiating leases. Assistant property managers collect rent and pay the building’s bills and property taxes. They connect with all on-site management, including maintenance and security, to ensure that everything at the property is being handled well.
Assistant property managers often work on-site at the property in an office. Since it may be difficult to keep up with administrative duties such as answering phones and filing, they often hire administrative assistants or secretaries. They must keep in touch with tenants to ensure that there are no issues with the building, and they keep their supervisors and building owners up to date with everything happening at the building.
In some areas, assistant property managers must be certified; some employers may also ask that assistant property managers hold a bachelor’s degree in property management, real estate, business management, or a related field. Assistant property managers may be required to take state licensure exams pertaining to real estate law and other fundamentals of property management.
Assistant Property Manager Tasks
- Assist the manager with administrative tasks such as preparing the budget, collecting rent, and sending tenant notices.
- Oversee facility upkeep, inspecting and maintaining units, public areas, and grounds.
- Manage tenant move-in and move-out processes, handing paperwork, evaluating applicants, and explaining policies.
- Schedule showings of vacant units, advertise vacancies, and conduct tours.
Common Career Paths for Assistant Property Manager
As Assistant Property Managers transition into upper-level roles such as Senior Property Manager, they may see a strong upturn in salary. Senior Property Managers earn $75K on average per year. Property Managers or Commercial Property Managers are common next-step roles for Assistant Property Managers moving up in their careers; annual pay for Property Managers is $5K higher on average, and it's $19K higher for Commercial Property Managers.
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Popular Employer Salaries for Assistant Property Manager
Lincoln Property Company, Property Management Company, Cushman & Wakefield, Inc., Riverstone Residential Group, and Jones Lang LaSalle are leaders in the field that employ a large number of Assistant Property Managers. Assistant Property Managers flock to Lincoln Property Company for generous paychecks, where average earnings of $53K lead the pack in compensation; however, Lincoln Property Company also provides employees with a wide spectrum of compensation ranging from $34K at one end to $60K at the other end. Assistant Property Managers can also look forward to large paychecks at Cushman & Wakefield, Inc. ($52K), Colliers International ($49K), and Jones Lang LaSalle ($48K).
Although Property Management Company hands out the lowest average salary in town at $32K, employee compensation still varies greatly; workers can make as little as $22K or as much as $42K. A few other companies with smaller-than-average paychecks include Pinnacle Management ($36K), Fairfield Residential, LLC ($38K), and Greystar Management ($39K).
Popular Skills for Assistant Property Manager
Survey results imply that Assistant Property Managers deploy a substantial tool kit of skills at work. Most notably, skills in Accounting, Customer Relationship Management, Accounts Payable, and Accounts Receivable are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Leasing Software, Sales, and Office Administration. For most people, competency in Customer Service indicates knowledge of Customer Relations.
Pay by Experience Level for Assistant Property Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Respondents with less than five years' experience take home $36K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $41K. People with 10 to 20 years of experience make an average of about $41K in this role. Assistant Property Managers who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $44K.
Pay Difference by Location
For Assistant Property Managers, busy Washington offers a higher-than-average pay rate, 42 percent above the national average. Assistant Property Managers will also find cushy salaries in New York (+38 percent), Charlotte (+20 percent), Dallas (+19 percent), and Los Angeles (+18 percent). Austin is home to the smallest salaries in the field, lagging the national average by 2 percent.
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