What do other property managers get paid for around 34 units

Question

I have been on my job for close to 6 years now and still only make $1400.00 a month, that is total. The owner deducts from this pay $600.00 for rent every month. So in actuality I make only $800.00 a month for 34 units in four different area's of Phoenix. I am not licensed but was told I could manage under him as long as all were owned by him. I do a lot extra than just manager. I collect, deposit, rent rolls, take care of all maintenance, clean lots, take care of all insurance issues, do remodels if needed, clean out tenant vacates, refresh for new rental, find the tenant, sign the tenant.

Matthew Paul · Answer

@Brenda Schuette  Sounds like you are an employee . It doesnt matter how much the boss charges or makes . You took a job that pays XXXX per hour .

Account Closed · Answer

Sorry but you’re getting hosed.  I’d renegotiate the rate.

Go with 8% of gross

100 (or another number) for each newly rented unit.

Are you paying self employment taxes or is he paying you like an employee?

Account Closed · Answer

@Brenda Schuette so at 10% if the rent is the total rent 14,000?  The fact you are still paying rent while making only 800 dollars seems a little low. And by low I mean insanely low.

At 50 units they say a owner could high a full time employee to run their operation.  So you should be over part time.

Brenda Schuette · Answer

Account Closed Yes I pay 1099 taxes. I try to re-negotiate my pay, but he says he don't see how he can pay me much more. I travel for these four properties that consist of 34 units. My truck is about shot, he only allots me $75.oo a month for travel. I spend a whole hell of a lot more. Just in tires sometimes.

Brenda Schuette · Answer

@ Nathan G. No I am not chained to the desk Per say. But I am in my apartment on site that he makes sure I pay for. And you are wrong I have been asking about pay for the last 4 years, he keeps telling me that I owe him money for shorts on anything, and I mean anything he wants to charge me for. He does not consider the extra's I pay out of my own pocket. THAT I TELL HIM ABOUT. I run this place just like it would be my own, I care about my tenants here, him not so much. Just the money.

I manage 34 units spread all over phoenix, and are not brand new units. I am constantly on the road most of the month for some reason or another. I have 16 units where I live, 10 in another part of phoenix, 4 in another and 4 in another. None are quiet up to par and the owner wants to just leave them as running money. Yes he ask for them to be fixed up each time a unit is empty, but to find a maintenance man that will work for pennies on the dollar. It is NOT easy.

Yes I can look for a new job, no problem. But I am attached to my place that I live. But I am believing I have no choice.

Brenda Schuette · Answer

@Aaron Mosher I agree that is why I have considered contacting an employment lawyer Monday morning

Nathan Gesner · Answer

First, I don't think you are "getting hosed" because nobody has chained you to this desk. If you're not happy, literally stand up and walk out the door. Even better? Determine what you believe to be fair compensation, walk in to your Broker, and tell him you want a raise or you're walking out the door. For all we know, you've been accepting this pay for six years without making a peep and he thinks you're happy.

Second, you don't have to be licensed because you're a direct employee of the owner. You agreed to work for a certain rate regardless of how much the owner makes.

Third, it is not normal for an employer to charge the employee rent. If he wants you working in his office, he should be providing the office space as part of the job. Can you imagine a coffee shop hiring a barista and then charging them for every cup they use?

I think $1,400 a month is pretty good compensation for that number of units. I managed over 100 units by myself and it was a 40-hour week. You should be working 20 hours or less.

If you're not happy, start looking for another job. There are companies in Phoenix hiring property managers, leasing agents, and other related positions on a daily basis.

Aaron Mosher · Answer

Owner is taking advantage of you.  8-10% is certainly standard, BUT that's just for overall management...take the calls, manage the work, collect the rents, maybe pay utility bills, report to owner, give owner a check.  Any work on the places is billed separately, hourly.  Any maintenance, any refreshes, cleaning, renovations, etc.  Anything.  8-10% gets the owner someone to take the calls and manage, not to get all the work done.

Renegotiate!

Brenda Schuette · Answer

The rents I deposit are close to 18,000 per month and that is with unforeseen issues in maintenance. I submit everything that is deducted to the owner. Cause I am not able to contact him on a daily basis. He tells me to make the vendors, or workers they can wait for their pay. Most companies wont wait for their pay for sometimes a month. This is where he is saying I am in the wrong, but what I pay is emergency issues. He got me put into the housing authority by doing this one time. I won, but still I don't like the positions he puts me into. I have had tenants and workers assault me because of him...

Brenda Schuette · Answer

Thank you and if that is what a normal PM charges, what does one that practically runs the whole business make? The owner just throws orders, receives his rents, pays invoices and that is about it.

What do other property managers get paid for around 34 units

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