Property Manager Salary

Property Managers in the United States take home an average $45K per year. Overall incomes of Property Managers generally bottom out at around $27K and peak near $71K; the final number can, in exceptional cases, include upwards of $10K each for bonuses and profit sharing proceeds. The most important factor affecting compensation for this group is the specific employer, followed by the particular city and tenure. Men are in the minority of survey respondents, with female Property Managers making up 74 percent. The majority of workers are highly satisfied with their job. Not all workers are lucky enough to have benefits; in fact, close to a third are without coverage. Medical insurance is claimed by a majority and dental insurance is reported by half. The information for this snapshot was generated by responses to the PayScale salary survey.
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$29,477 - $69,283
(Median)
$29K
$45K
$69K
MEDIAN: $44,940
10%
50%
90%

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$10.63 - $22.49
(Median)
$11
$15
$22
MEDIAN: $15.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$24K$48K$72K
Salary
$29,477 - $69,283  
   
Bonus
$0.00 - $9,762  
Profit Sharing
$0.00 - $9,867  
Commission
$0.00 - $11,234  
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).
)
$27,291 - $70,991  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 7,094
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$12$24$36
Hourly Rate
$10.63 - $22.49  
   
Hourly Tips
$0.00 - $0.36  
Overtime
$0.00 - $32.49  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$24K$48K$72K
Bonus
$0.00 - $9,762  
   
Commission
$0.00 - $11,234  
Profit Sharing
$0.00 - $9,867  
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).
)
$27,291 - $70,991  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 1,717

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Job Description for Property Manager

Property managers are the people who are responsible for retail or residential property. Depending on the property they manage, an employee will work in an office either on or off site. Property managers organize any service and work done to the property, will sometimes be responsible for maintaining tenancy, and maintain the leases for the properties. They are responsible for maintenance staff and any necessary security staff. A property manager maintains the income and budgeting, makes deposits to accounts, and is responsible for keeping track of payments. They will typically process eviction proceedings on behalf of the property owner and manage showings, tenant income and credit verification, move-ins, and move-out procedures. They keep rental property vacancies ready and prepared for new tenants, and may be responsible for maintaining furniture. Additionally, they process leases in accordance with local and federal laws.

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Property Manager Tasks

  • Process leases, collect rent, make bank deposits, verify income and maintain waiting list.
  • Ensure compliance with HUD, TCAC or other regulations.
  • Process evictions.
  • Supervise on-site staff and coordinates repairs and maintenance.

Common Career Paths for Property Manager


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At the upper end, Property Managers who move into a Regional General Manager role can end up with a hefty increase in pay. The average income for Regional General Managers is a much higher $87K per year. A Commercial Property Manager or a Community Association Manager is a typical transition from a Property Manager role.

Property Manager Job Listings

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Popular Employer Salaries for Property Manager


Property Managers fill the offices of leading firms Property Management Company, Riverstone Residential Group, Property Management, Inc., Equity Residential, and Mercy Housing, Inc. For Property Managers, comfortable salaries can be found at CBRE Group; in fact, median earnings sit around $77K, the highest in the area. Other leaders in compensation levels are Jones Lang LaSalle at $73K, Equity Residential at $65K, and American Campus Communities, Inc., where Property Managers annually earn $65K.

With a reported median salary of only $24K, Public Storage, Inc. easily takes the cake for lowest-paying firm in town; earnings are 221 percent lower than the top payer. Other low-paying employers include Property Management, Inc. at $32K and Property Management Company at $37K, though some Property Managers there earn up to $59K.

Popular Skills for Property Manager


Property Managers report using a deep pool of skills on the job. Most notably, skills in Budget Management, Operations Management, Project Management, and Contract Negotiation are correlated to pay that is above average, with boosts between 12 percent and 16 percent. At the other end of the pay range are skills like Bookkeeping, Microsoft Office, and Collections. Those proficient in Property Management are, more often than not, also skilled in Customer Service, Customer Relations, and Collections. Most people who know Budget Management also know Collections.

Pay by Experience Level for Property Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience does not seem to be a strong driver of pay increase in this role. Relatively untried employees who have less than five years' experience make $38K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $45K. Property Managers who work for 10 to 20 years in their occupation tend to earn about $51K. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $53K on average.

Pay Difference by Location


Property Managers will find that New York offers an impressive pay rate, one which exceeds the national average by 58 percent. Property Managers will also find cushy salaries in Boston (+47 percent), San Francisco (+39 percent), Dallas (+25 percent), and Denver (+25 percent). In Columbus, salaries are 9 percent below the national average and represent the lowest-paying market.

Property Manager Reviews

What is it like working as a Property Manager?

Property Manager in Kure Beach:
Pros: Some cleanings are so easy. They have to put $1,000 deposit 30 days before their arrival day.(Helps so they do try to not break anything)
Cons: Must be able to work any day, Must buy own supplies (Which is well over the $12.50 a week for cleaning supplies)Must be able to have the condo ready before it's rented that same day. Job may be easy or bad don't know till check out.

Property Manager in Los Angeles:
"Property Management Can Be Great With The Right Company."
Pros: Working with the tenants over a long period of time, the apartment building becomes almost family like. Starting with leasing, people are usually excited about moving to a new place, although moving itself is stressful, generally the first step is very pleasant. After the tenants move in, it's nice getting to know them, usually and pretty much a pleasant experience. After the tenants have lived there for a while, you become very familiar, you bond with your tenants. When the tenants move out, it is usually if they get another job, or relocate to another school, or purchase a home, so they usually leave on good terms and they are excited for the future!
Cons: If you have more than one vacancy at any given time, you could very well lose your job. Sometimes a client will apply for an apartment, and you think it will be a perfect fit, a great addition to the building, and their application is declined. Eventually you will get a crazy tenant with mental health, or drug issues, and that is always horrible. Sometimes tenants you really care about will lose the job or have some sort of calamity and you'll have to evict them, not fun at all. There is an extremely high amount of paperwork in this job, so much so, I believe that we are the only industry that still uses fax machines on a daily basis. If you are hired by the wrong company, you will be under paid, and your tenants will be cheated.

Related Job Salaries

United States (change)

Experience Affects Property Manager Salaries




National Average
$44,000


Skills That Affect Property Manager Salaries






Leadership
up arrow 3%

Property Management
up arrow 1%

National Average
$44,000

Accounting
up arrow 1%

Customer Relationship Management (CRM)
up arrow 1%

Maintenance
up arrow 3%






Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1765 votes.

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
2%
1-4 years
30%
5-9 years
30%
10-19 years
28%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 66% dental benefits Dental: 49%
vision benefits Vision: 37% employee benefits None: 32%