Condominium Manager Salary
|Salary||$37,377 - $88,460|
|Bonus||$-0.49 - $7,272|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$35,392 - $90,710|
|Hourly Rate||$13.28 - $37.19|
|Bonus||$-0.49 - $7,272|
|Total Pay (||$35,392 - $90,710|
Job Description for Condominium Manager
While most condominiums are purchased and sold in the same ways as free-standing housing, most occupy either large buildings or wider property developments. Condominium managers are responsible for ensuring that the larger properties which house these dwellings are maintained in a safe and attractive manner. They may also help re-model or arrange repairs in a manner that conforms with property management regulations.Read More...
Many condominiums are located in large, multi-unit buildings on property which must be maintained by an agency or third-party real estate company, and the condominium manager must ensure that any required property management jobs such as landscaping, parking maintenance, and snow removal are performed as needed. Maintaining common interior areas is also important to represent the value of the individual condominiums.
While these services are generally contracted, the manager ensures that any required remittances are made from escrow funded by the homeowner or community property fees. As contracts arise for services, the manager will normally handle the bidding process in cooperation with a supervising property management group or homeowner's group. The manager also enforces all standardization regulations to ensure that condominiums in close proximity are maintained and kept clean.
For condominiums which are rented or leased to own, the manager's job is somewhat similar to that of an apartment property manager. In these situations, however, the residents' monthly checks are collected by the manager and accurately applied to any relevant mortgage or ownership contracts for the condominiums.
To work as a condominium manager, applicants should have some prior experience in property management, and many employers (including real estate brokers) prefer those who have at least an associate's degree in a business-related field, as well. Condominium managers typically work in office environments, but may be required to be on-call past their regular working hours.
Condominium Manager Tasks
- Identify and solve problems, working for livability, efficiency, and increased property value.
- Ensure condominium appearance and safety standards are maintained and costs communicated.
- Coordinate meetings, including making presentations and providing estimates.
- Coordinate with owners, board of directors, contractors, staff, and insurers.
- Track and report on association dues payment and negligence.
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Pay by Experience Level for Condominium Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience is an important factor influencing the compensation of Condominium Managers. Salaries for the relatively untried average out to around $45K, but survey participants with five to 10 years of experience earn a significantly higher median of $58K. On average, Condominium Managers make $70K following one to two decades on the job. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $73K.
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