Property managers - What's a fair wage?

[Cheri Schaffer]

Hey guys!  This goes out to all people that have a property manager!  

I'm curious on what you pay your property manager.  I've seen the average at different wage points, and was curious.  

Do you go by a percentage?  

What percentage do you go off of?  

How many units did you obtain before passing the duties over to someone else?

What else should someone keep in mind about hiring a property manager as far as wages go?  

Thanks in advance!  :)

[Jeff B.]

Let's clarify:  Property Manager vs. Property Management.

There's lots of Property Management companies to assist in processing applications, performing move-in/out inspections and collecting rents - - that's a 10% commission on the rents kind of business.

The Property Manager, is required (in Calif) for 16+ units at one site, becomes a resident, gets paid by the owner and thus becomes an employee and that implies in your state.  This gets complicated by minimum wage laws, rental fee accommodations and the tax consequences thereof.