I’m trying to wrap my head around management costs for a park that we have under contract.
How do you classify a “greeter” ? Assuming I will compensate them with free rent, do you set them up with payroll and workers comp and then cut them a check for the rent amount? Or do you just have them sign a lease for $0 and an agreement outlining their duties?
Seems like if you did the latter you’d still want to get the workers comp insurance right? Also, if they don’t perform, it seems like it would be easier to fire them then to have to change their lease to one that requires rent payment…
Right now my idea is to get setup with Rent Manager and Paylease, and transition 100% of tenants to online pay. Those without computers can pay their rent at Walmart. Since I won’t need rent collection services from the onsite person, I’m thinking this would work well with Frank’s “Greeter” system. I’m trying to figure out the right way to set it up and make sure that our proforma is accurately accounting for the management costs, including payroll and workers comp.
Thanks for any tips!