How Much Do Assistant Property Managers Make a Year?
Assistant property managers play an important role in the ongoing daily activities of property management companies. These assistants do much of the same work as property managers and help lighten the workload of the property manager. The Bureau of Labor Statistics includes salary information for assistant property managers as a subset of the salary information for all property managers. Salaries tend to vary by location and employer.
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Pay Scale
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The average salary of property, real estate and community association managers nationwide was $62,400 per year in 2010, according to the Bureau of Labor Statistics. The bureau indicates that the median salary for property managers was $51,480 per year. However, assistant property managers typically make less than other property mangers and fall below the median salary on the pay scale. The bureau indicates that the lower 25 percent of those working in this field made $36,430 or less per year, while the lowest 10 percent made $26,180 or less. Assistant property managers are likely to fall into one of these two salary ranges.
Empoyers
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Who the assistant property manager works for can play a role in determining her salary. According to the BLS, the largest number of property managers worked in the real estate industry, making an average salary of $60,860 per year. Those working in the real-estate leasing industry averaged less at $56,130 per year, while those working for local government agencies made an average of $62,540. Managers in land subdivisions made an even higher average salary at $82,100 per year.
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Location
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Location also plays a role in determining how much the property manager can expect to make. The BLS indicates that California, Texas and Florida were the three states with the highest employment level for this profession. Property managers in California made average salaries of $74,010 per year in 2010, while those in Texas and Florida made $52,970 and $60,610, respectively. Property managers in New York and Virgina made the highest average salaries. New York managers made $101,110 per year in 2010, while those in Virginia made $89,330.
Job Outlook
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The number of jobs for property, real estate and community association managers should grow by about 8 percent from 2008 to 2018, according to the projections of the BLS. The bureau indicates that the growing population will contribute to job growth as third party management companies will be relied upon more extensively to help find and lease properties.
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References
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