Key Information that You Need to Remember about Property Managers Pay in the USA
Are yearning to pursue a career in the real estate industry by becoming a property manager in the US? Before you consider joining this industry, you should familiarize yourself with the amount of money that property managers are paid as their salaries. 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. Some of the reasons why property managers salaries differ include the level of education of the property manager, the portfolios of properties they managing among others. 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. The minimum level of education level that is required for property management is a high school diploma, this however means that you are likely to earn the minimum payment. This is changing as more property management companies are looking to have their property manager engage in marketing and business planning which necessitates that the managers to have a bachelor’s degree in finance, accounting or business administration to earn you more.
Certifications is another determinant of the amount of money that you are likely to earn as a property manager pay. 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 . This certification shows that you are knowledgeable when it comes to the management of both residential and commercial properties.
The nature of the property that you are managing is also a determinant of the property management fee. 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. A real estate firm that is operating from the city of different states is likely to be paying property managers more than those operating in small towns.
The average size of the property management firm has an impact on the amount of money you are to earn as a property manager. An experienced property management company is likely to pay more salaries property managers than a young company established the other year, this is because the former is considered to be more established.
The amount of experience that a property manager has will determine the amount that they are to be paid. When you have been in this industry for many years as a property manager, you can ask for more pay than what a new entrant in property management can ask for.