On-Site Property Manager Compensation in California?

[Chase Banta]

We just purchased a 36 unit apartment complex and are trying to come to an agreement with the existing on-site property manager around what reasonable compensation is. His request is to be paid full time at minimum wage, and to receive free rent ($1,500/mo value). This puts his total compensation at around $48k on a building that will likely bring about $720k gross rents, in time.

Note that his main function will be to act as a maintenance man, and to be on call for the typical needs, and we will be handling everything from an administrative perspective. We are new to this industry, but we just don't see how he can create $48k in value for us, given what we'll require of him.

How reasonable is his request, and what would be a normal compensation package look like for someone in his role?

[Michael Din]

Your getting by cheap. I live in Central valley and the managers I know make around 65k + all utilities paid and free rent. They took care of everything all the owners had to do were collect a check.