I am looking to hire a new manager to manage a park consisting of approximately 60 homes. Most of the homes are lot rental only (the resident owns his or her own home) and I have 2 to 3 straight rentals and 5 rent to own homes. We will be bringing a couple of vacant homes back on line and renting.
I will provide the husband and wife a mobile home to live in. What is a standard rate regarding additional compensation such as utilities and additional money?
Thanks.
Industry standard compensation for managers is:
$10/lot/month for every ROH
$15/lot/month for every POH (rentals and RTOs)
$10/lot every time it needs to be mowed (fill your lots so you pass this cost on to residents!)
Free lot rent (not house rent, not utilities)
As a general rule, management expenses should be around 5% of your gross. Maintenance is additional, and not considered part of management and could be another 5% of gross rents.
Your mileage may vary,
-jl-