Important Information that You Should Remember About the Salary of a Property Manager in the USA
Are you interested in joining property management career in US? When looking to work as a property manager, their pertinent issues that you should know before you pursue the career, for stance, you need to know the salary entitled to a property manager. Even though property managers perform similar duties in many property management firms across different states in the US, you will realize that their pay is never the same, it differs from one company to another. 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. Discussed below are some of the key information that you need to remember about property managers pay in the USA.
Your level of education is critical in affecting the amount you are to be paid 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.
Besides education, accreditation status can also determine how much you will earn as a property manager. As a professional property manager who can demand higher pay, you should be certified by the Institute of Real Estate Management. This certification shows that you are knowledgeable when it comes to the management of both residential and commercial properties.
The type of property that you will be managing will also affect the amount you are to be paid. 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.
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.
The experience is also extended to the property managers, the experience is also a determinant on 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.