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Property Manager Salary

Property Managers in the United States pull down an average of $45K per year. In the world of Property Managers, performance is a large component of overall compensation. Bonuses and profit sharing that occasionally exceed $10K each, along with a few commissions of nearly $12K, can cause the final number to run anywhere from $27K to $71K. The most influential factor affecting pay for this group is the company, though the particular city and years of experience have a (lesser) impact as well. Health benefits are not enjoyed by everyone in this line of work, and roughly a third lack any coverage at all. Medical benefits are reported by the larger part and dental coverage is claimed by around half. Female Property Managers make up most of the survey respondents at 74 percent. Job satisfaction is reported as high by the vast majority of workers. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$29,465 - $69,281
(Median)
$29K
$45K
$69K
MEDIAN: $45,034
10%
50%
90%

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$10.57 - $22.38
(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
$29,465 - $69,281  
   
Bonus
$0.00 - $9,758  
Profit Sharing
$0.00 - $9,867  
Commission
$0.00 - $11,847  
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).
)
$27,305 - $70,985  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 7,223
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
$10.57 - $22.38  
   
Hourly Tips
$0.00 - $0.36  
Overtime
$-0.43 - $32.33  
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 - $9,758  
   
Commission
$0.00 - $11,847  
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).
)
$27,305 - $70,985  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 1,747

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United States (change)


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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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Property Managers may experience a large salary bump if they progress into a role such as Regional General Manager. The latter position pays an average of $87K annually. A Property Manager often moves on to become a Commercial Property Manager or a Community Association Manager.

Property Manager Job Listings

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Popular Employer Salaries for Property Manager


Property Managers flock to Property Management Company, Riverstone Residential Group, Property Management, Inc., Mercy Housing, Inc., and Jones Lang LaSalle, highly regarded companies that employ a generous number of people in this profession. 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 Equity Residential at $74K, Jones Lang LaSalle at $73K, and American Campus Communities, Inc., where Property Managers annually earn $65K.

Relative to other names in the field, compensation is very low at Public Storage, Inc. — the median salary comes to just $24K, 221 percent lower than the top payer. Other low-paying employers include Property Management, Inc. at $33K and Property Management Company at $37K, though some Property Managers there earn up to $59K.

Popular Skills for Property Manager


Property Managers seem to require a rather large skill set. Most notably, skills in Budget Management, Operations Management, Contract Negotiation, and Project Management 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. Most people who know Budget Management also know Collections. Most people who know Property Management also know Customer Service, Customer Relations, and Collections.

Pay by Experience Level for Property Manager

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


Property Managers with a lot of experience do not necessarily enjoy more money. Although individuals who have less than five years' experience earn $38K on average, people with five to 10 years benefit from a notably larger average of $45K. People with 10 to 20 years of experience make an average of about $51K in this role. Property Managers with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $54K.

Pay Difference by Location


Property Managers will find that New York offers an impressive pay rate, one which exceeds the national average by 54 percent. Property Managers will also find cushy salaries in Boston (+46 percent), San Francisco (+39 percent), Denver (+26 percent), and Dallas (+25 percent). In Columbus, salaries are 8 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 Montgomery:
"I like the working with the public."
Pros: Helping people achieve their dreams. I like working with the public. I enjoy helping the less fortunate.
Cons: Under paid. Time consuming. Travel expenses are too high.

Property Manager in Nashville:
"Changes everyday ,you meet many new people."
Pros: My boss is extremely knowledgeable and very pleasant to work for.
Cons: Having to deal with the people from general public that are not pleasant.

Property Manager in Chesapeake:
"Very time consuming as well as demanding from all aspects."
Pros: I like the freedom of managing my property as well my yearly budget. I also like the ability to work closely with my staff and have daily meetings for projects.
Cons: The pay is not reasonable based on the expectations, industry average, and effort put forth.

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%

Accounting
0%

Customer Relationship Management (CRM)
0%

National Average
$44,000

Maintenance
up arrow 3%






Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1756 votes.

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
2%
1-4 years
30%
5-9 years
29%
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%
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