My understanding is that on site management compensation ranges from 5-10%. Those that have this structure in your park, is your mgr compensation within this range? Any commentary on management expense would be great. thanks everyone.
Also does the 5-10% range include discount or comp’d lot rent?
Hello,
I believe it is more in the 5-7% range and generall 4-6% for offsite management with a goal of not having management globally exceed 12%. That’s the numbers we use anyways and I believe correlates with other operators
I’d charge 10% but depending on the properties I might agree to less…
I would not base it off a percentage, each market is different. Some properties have $600 lot rents some have $200. I would pay on the amount of work needed for that position or look on CL and see what other parks or what apartment managers are getting paid.