Topic: Housing and compensation for Employees living on-site

Hi everyone,
I have a large, 1100 unit property in the metropolitan tri-state area NY/NJ.

With regard to staff that are required to live on-site, do you calculate cost of 100% housing benefit in total compensation?

In other words, if market for the position is $100k, do you pay salary of $100k PLUS free housing, or does salary and housing benefit total $100k? I don't know what the trend is and need to address this in my organization.

Thanks for any input!

I guess you'll have to shop around and find out. The simple answer is "whatever your competitors are doing".
If the property down the street offers 100K + free housing then you'd probably have to do the same.

Maybe try finding some open positions in the are and have someone call and ask what they offer?

Actually I hesitate to use the word "free" when referring to housing compensation. The apartment is not free, employees are not given free homes. They earn this part of their compensation just like they earn the non apt value part of their compensation. The employees total compensation package includes the market rent (or an adjusted pre determined value) the dilemma often is whether to include the total market rent vs. an adjusted amount. When the entire market rent is included it artificially inflates an employees salary.

1 thing to remember whatever you do is do not allow the employee to transfer or take a smaller unit for additional compensation. This could cause a problem of fluctuating salaries forever. If they want a smaller unit that's OK. It's just that their compensation cannot change.
The unit has to have some value because you have to compare it to what employees in the same position on who do not live on site make. Probably basing it on the average market rent for that size apt in your area is best