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Updated 8 months ago on . Most recent reply
Property Manager pay structure
Looking for ideal ways to pay my PM. right now her contract pays her $22/hr for any communications, touring, paperwork, general administrative duties. Then I pay her $35 for any manual labor like cleaning, leaf/yard clean up, painting, any easy household repairs that she is able to do. She doesn't like keeping track of her hours it's too much of a burden for her.
I don't want to just pay her 5-8% of rental income as I feel like there are some months where she really won't need to work much and I don't want to overpay.
What are some ways you compensate your PM?
I do think bonusing her on getting and or maintaining 95% occupancy is a good incentive.
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- Real Estate Broker
- Cody, WY
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Quote from @Jason Weber:
I am curious to know how many properties/units this person is managing and how much you are saving by hiring them instead of a professional property manager.
Management involves a lot more than collecting rent, showing vacant units, and turnover.
- Nathan Gesner
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