Rental Property Investor · Los Angeles, CA · Member since 2015 · 19 posts · 3 votes
I'm planning to hire someone that does the following and I'm not sure what salary to offer. Curious to see what numbers you guys come up with as it's quite a few required qualifications. I've already been doing below for 6 years so can train here and there but ideally the hiree won't require much:
1. From a list of cities we already have lots of vacation rental data on, find competent realtors in each city and and spearhead purchases of properties (work with realtors to get videos of properties, submit offers, meet inspectors, negotiate, etc). Must have some real estate investing experience.
2. Work with local designers to furnish the places so that they are 100% ready for vacation rental guests, set up utilities, create listings, work with photographers, etc (ideally has some Airbnb hosting experience or lots of Airbnb travel).
3. We already have a team that handles all communication with guests and cleaners, so they would also have to deal with major issues e.g. plumbing, theft, bill pay, etc (this part anyone junior can be trained to do).
To me, this is all just basic admin/work-processing duties, so you can pay what the average person makes in LA for an admin job. If you want to add some type of a bonus structure on the acquisition side (or disposition when you sell down the road) you can consider doing that as well.
To me, this is all just basic admin/work-processing duties, so you can pay what the average person makes in LA for an admin job. If you want to add some type of a bonus structure on the acquisition side (or disposition when you sell down the road) you can consider doing that as well.
@David M. I think your best bet would be to hire a young hungry investor type maybe someone who has their own Airbnb experience under their belt. All of what you mention is what us semi self-managed Airbnb investors do and generally learned OTJ. So someone with that knowledge who wants more work, travel, and to use their experience would be perfect. You could make it commission based system or offer some incentive on top, maybe a percent from the first month like a PM company takes which would really motivate them to turn it around quickly and make sure it is perfect.
1) Any suggestions/ideas on a commission structure?
2) I have not hired before, but already have an office with some extra space so have room for a few people: how does one go about finding out the expected salary for an admin type job like this in LA? Can't find salaries posted on Glassdoor.
Edit: found it! https://www.glassdoor.com/Salaries/los-angeles-adm...
It could be something as easy as first rental (obviously not if it's like 2 months) but really that's up to you how much do you think would motivate someone and seems reasonable?