Property Manager Salary

Property Managers in search of top-notch pay will find it at CBRE Group, where the median salary of $77K trumps the $45K per year-national average for those in this profession. Equity Residential, Jones Lang LaSalle, and American Campus Communities, Inc. also offer top salaries for Property Managers. Workers at these firms can expect to earn about $75K, $73K, and $65K, respectively. The data in this summary comes from the PayScale salary survey.
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$29,495 - $69,533
(Median)
$29K
$45K
$70K
MEDIAN: $45,093
10%
50%
90%

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$10.46 - $22.29
(Median)
$10
$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
$29,495 - $69,533  
   
Bonus
$0.00 - $9,799  
Profit Sharing
$0.00 - $9,866  
Commission
$0.00 - $11,814  
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).
)
$27,179 - $71,040  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 7,417
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
$10.46 - $22.29  
   
Hourly Tips
$0.00 - $0.67  
Overtime
$1.20 - $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 - $9,799  
   
Commission
$0.00 - $11,814  
Profit Sharing
$0.00 - $9,866  
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).
)
$27,179 - $71,040  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 1,827
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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.

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Popular Employer Salaries for Property Manager

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, Project Management, and Contract Negotiation are correlated to pay that is above average, with boosts between 11 percent and 15 percent. At the other end of the pay range are skills like Bookkeeping, Microsoft Office, and Collections. Competency in Customer Service frequently indicates knowledge of Property Management.

Pay by Experience Level for Property Manager

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


More years of relevant experience do not necessarily translate to higher paychecks. 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 claiming one to two decades of experience make an estimated median of $51K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $54K.

Pay Difference by Location


Surpassing the national average by 52 percent, Property Managers in New York receive some of the highest pay in the country. Property Managers will also find cushy salaries in Boston (+43 percent), San Francisco (+39 percent), Denver (+26 percent), and Dallas (+26 percent). Columbus is home to the smallest salaries in the field, lagging the national average by 7 percent.

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.

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Experience Affects Property Manager Salaries




National Average
$44,000


Skills That Affect Property Manager Salaries






Leadership
up arrow 2%

Property Management
up arrow 1%

National Average
$44,000

Accounting
up arrow 1%

Customer Relationship Management (CRM)
up arrow 1%

Maintenance
up arrow 4%






Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1729 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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