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
Assistant Property Managers do not often transition into Senior Property Manager roles. The role averages $75K 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.
Assistant Property Manager Job Listings
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Popular Employer Salaries for Assistant Property Manager
Lincoln Property Company, Property Management Company, Riverstone Residential Group, Cushman & Wakefield, Inc., and Jones Lang LaSalle are all popular places to work. Cushman & Wakefield, Inc. offers the largest salaries in town ($55K on average), but the considerable range in workers' salaries creates a rather varied pay scale that stretches from $45K to $80K. Also paying near the top of the field are Lincoln Property Company at $51K, Colliers International at $49K, and Jones Lang LaSalle, where Assistant Property Managers annually earn $48K.
Property Management Company reports the lowest median salary in the area by far — it's only $32K, 71 percent less than the top paying company. Also approaching the lower end are Pinnacle Management at $36K, Fairfield Residential, LLC at $38K, and Greystar Management at $39K.
Popular Skills for Assistant Property Manager
Assistant Property Managers seem to exploit a large range of skills on the job. Most notably, skills in Accounting, Accounts Payable, Customer Relationship Management, and Property Management are correlated to pay that is above average. Skills that pay less than market rate include Leasing Software, Sales, and Microsoft Office. Most people who know Customer Service also know Customer Relations.
Pay by Experience Level for Assistant Property Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Those in the early stages of their career can expect to make around $36K; however, individuals with five to 10 years of experience bring in $41K on average — a distinctly larger sum. Assistant Property Managers who work for 10 to 20 years in their occupation tend to earn about $40K. Old hands who claim more than two decades on the job enjoy average earnings of $43K.
Pay Difference by Location
With a pay rate for Assistant Property Managers that is 62 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Assistant Property Managers can also look forward to large paychecks in cities like Washington (+40 percent), New York (+38 percent), Boston (+20 percent), and Los Angeles (+19 percent). Austin is home to the smallest salaries in the field, lagging the national average by 1 percent.
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