Condominium Manager Salary
|Salary||$37,190 - $88,863|
|Bonus||$-0.49 - $7,340|
|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).)
|$35,210 - $91,148|
|Hourly Rate||$12.26 - $37.19|
|Bonus||$-0.49 - $7,340|
|Total Pay (||$35,210 - $91,148|
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
- Coordinate with owners, board of directors, contractors, staff, and insurers.
- Track and report on association dues payment and negligence.
- Coordinate meetings, including making presentations and providing estimates.
- Identify and solve problems, working for livability, efficiency, and increased property value.
- Ensure condominium appearance and safety standards are maintained and costs communicated.
Pay by Experience Level for Condominium Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Condominium Managers who reported more years of relevant experience also reported higher earnings. Although individuals who have less than five years' experience earn $44K on average, people with five to 10 years benefit from a notably larger average of $59K. The average pay reported by folks with 10 to 20 years of experience is around $71K. Condominium Managers who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $73K on average.
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Key Stats for Condominium Manager
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