Key Information that You Need to Remember about Property Managers Pay in the USA
Are you interested in joining property management career in US? Well there are critical things such as the property manager’s pay that you need to know before joining the industry. The responsibilities assigned to property managers is similar in most property management companies in the USA, however, you are likely to find variances on the amount of money paid as property manager salaries. When it comes to property managers pay, their portfolio and education level are some of the factors differentiating their salaries. Here is a discussion on what you need to know about a property manager pay in the USA.
Education level is among the essential aspects that affect the amount one earns as a property manager. A high school diploma from a reputable high school is the minimum level of education that is required for managing rental houses which will earn the minim pay for a property manager. For a good pay as a property manager, real estate companies will insist on a graduate with bachelor’s degree in accounting, finance or business administration which is critical when they are required to market the company and manage finances as well.
As a property manager, official recognition in property management will also affect your salary. One of the key certifications that will give you an upper hand in bargaining for more pay is having an endorsement for the Institute of Real Estate Management that shows you are certified property manager . To show that you are knowledgeable in property management, you need to have a professional property management practicing certificate.
Which type of property are you going to manage? Averagely, an apartment manager is entitled to earn $41,000, while a self-storage facility manager earns 71,000 dollars and $76,000 for a real estate asset manager. The location of the company will also affect your pay, a company that is located in the city will pay more than one in the suburbs.
You need to note that the size of a property management company will also dictate the property manager pay. A property management company that was established recently will not have the financial strength to pay a big salary like one that has been in business for many years, because the latter has more market and is established in the business.
Your level of experience in the industry is a critical factor in defining the property manager pay. Property managers who have been offering their services for many years are considered experienced and have the advantage of demanding higher pay than an inexperienced property manager.