Many people when looking for a career in property management naturally ask the question, “How much do property managers make?”
There are many different ways that property management companies pay property managers. We will go over the different payscales and pay models to help you understand realistically what you could make.
Salary pay is the first way you could be compensated as a property manager. Starting salary starts around $42,000 dollars a year and can go up to $75,000 per year on the high end of the payscale.
The next way to earn money is by using the commission structure of pay. Variable commission is definitely superior to a straight commission model. Variable means that you get paid based on the amount of people you recruit to the property as well as earning residual income on existing contracts. Straight commission does not allow for the residual income and also runs into problems with complying with the FSLA and most HOA companies do not use it.
The third way is a combination of salary and commission pay. For example you may make $30,000 a year base salary but you will also make 15% of all the revenue brought into the HOA company. This can really turn into big bucks you have marketing experience and can sign up a bunch of potential renters.
Become very familiar with HOA guidelines and property management rules that have to do with the state you are looking for a job in. The more knowledge you obtain about this the easier it wil be to wow the interviewer considering you for the job.