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Property Manager Salary

Property Managers in the United States can expect to earn an average of $45K annually. Including potential for bonuses and profit sharing, each hitting highs of $10K, total cash payment to Property Managers can bottom out at $27K or peak near $71K. Compensation for this group is mainly affected by the particular firm, but geography and tenure are influential factors as well. Most Property Managers survey respondents are women (74 percent). The majority of workers are highly satisfied with their job. While some workers in this profession — close to one-third — do not have any health coverage, a majority do receive medical benefits and half have dental insurance. This snapshot results from replies to PayScale's salary survey.
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$29,475 - $69,362
(Median)
$29K
$45K
$69K
MEDIAN: $45,055
10%
50%
90%

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$10.53 - $22.35
(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
$29,475 - $69,362  
   
Bonus
$0.00 - $9,760  
Profit Sharing
$0.00 - $9,829  
Commission
$0.00 - $11,757  
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).
)
$27,239 - $71,011  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 7,283
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
$10.53 - $22.35  
   
Hourly Tips
$0.00 - $0.36  
Overtime
$0.75 - $32.31  
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 - $9,760  
   
Commission
$0.00 - $11,757  
Profit Sharing
$0.00 - $9,829  
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).
)
$27,239 - $71,011  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 1,778
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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.

Property Manager Job Listings

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Popular Employer Salaries for Property Manager


Dominating the field, Property Management Company, Riverstone Residential Group, Property Management, Inc., Public Storage, Inc., and Mercy Housing, Inc. are top firms with a reputation for hiring a great number of Property Managers. CBRE Group leads the field in terms of pay, with a median salary of $77K. Those in search of high salaries should also consider Equity Residential, Jones Lang LaSalle, and American Campus Communities, Inc., top-paying firms where Property Managers rake in a respectable $75K, $73K, or $65K, respectively.

The smallest paychecks in the field are found at Public Storage, Inc., where the median salary is a mere $24K, 221 percent less than the top paying company. Others at the bottom of the scale for this job include Property Management, Inc. at $33K, and Property Management Company where $37K is the norm, but it is worth noting that some Property Managers there earn up to $59K.

Popular Skills for Property Manager


Property Managers report using a large range of skills on the job. Most notably, skills in Budget Management, Operations Management, Contract Negotiation, and Project Management are correlated to pay that is above average, with boosts between 11 percent and 15 percent. Skills that are correlated to lower pay, on the other hand, include Bookkeeping, Microsoft Office, and Collections. It is often found that people who know Budget Management are also skilled in Collections. It is often found that people who know Property Management are also skilled in 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.


Experience and pay tend to be weakly linked for Property Managers — those with more experience do not necessarily bring in higher earnings. 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. On average, Property Managers make $51K following one to two decades on the job. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $54K.

Pay Difference by Location


For those looking to make money, Property Managers in New York enjoy an exceptional pay rate, 53 percent above the national average. Property Managers can also look forward to large paychecks in cities like Boston (+45 percent), San Francisco (+39 percent), Denver (+26 percent), and Dallas (+26 percent). With compensation 8 percent below the national average, Columbus is not known for hefty paychecks and actually represents 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

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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 4%






Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1751 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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