Topic: Listed salary would not qualify me to live in the city to manage the building I was interviewing for. She basically said, "Sorry about it, good luck."

Just had an interview for a PM position in SF where average apartment rents are $3230. At 2.5x income ratio, you need a qualifying salary of at least $8075/mo, at 3x ratio $9690. Their offer was $27/hour with no housing, which equates to $4680/month. In explaining to the hiring manager that this salary would not qualify me to live in the city to manage the building, she basically said, "Sorry about it, good luck." This industry is so broken when companies cannot even pay their employees an actual living wage to even qualify for the properties they manage. #hiring #interview #multifamily #employment #livingwage #propertymanagement

Totally agree with this!!! It’s unbelievable

Wow $27 an hour for a PM? That’s absurd. I make more as an assistant manager. I hate this industry nowadays.

The math ain’t mathinnnn that’s a shame that they’ll hire people that cannot afford to live at their own apartment complex lol

They will never be able to keep or find good people. You are right.

They expect you to find an "undisclosed" roommate situation which is probably what they deal with at the apartment complex and just choose to ignore because the money keeps rolling in.

This is a broken system, and owners better get with the system quick. I’ve seen too many properties being horribly mismanaged because the the people who take the low end of the scale have absolutely no PM experience. And they wonder why they’re in a mess.

This in a nutshell...i got a .47 raise in january but my rent is going up over $300

Reminds me of what a speaker once said at a conference, "...the Fair comes around once a year and this ain't it". Rents are a function of occupancy and demand. There must be enough "households" in that market to support those rents. The industry teaches us that If you are 100% full then your rents are too cheap. It boils down to Supply and Demand. As for salaries, same issue. There must be enough willing/able to work for that salary or willing to commute.

The thing is they want the cheapest labor and expect top notch quality so their profits increase , this industry is a joke , especially with the cost of gas now

This is why you see so many complaining about the stress of the job. If they are not paying the employees their worth then u are constantly going thru employees. The maint people already know they can change jobs and get up to $5 or more increase in pay.

I have never understood why a company or owner would pay the property manager so little - when they are entrusting this person to manage multi million dollars of real estate. We all know with a bad manager the damage can be done before anyone realizes it...

I had to leave a job in LA years ago because I couldn’t afford the rent.

They can pay. But profits are more important than people when they have to do their quarterly earnings report for the execs and shareholders.

Sounds like that position will remain open for a long time

Try hiring for maintenance position with 3 paid holidays a year, 40 hrs vacation after a years service, the expectation that you're on call 24/7 with an extra $5 day compensation for caring the emergency phone, being expected to respond at straight time wages until you reach 40 hrs worked, with only an hr minimum pay for the after hr call response, and a $250 rent credit after your 60 day probation. Granted it's a small 64 unit 2 year old community but that's like telling someone all they can do is be ready to work for as long as theyre employed. It's an impossible situation.

It would have been so easy to offset the lack of salary by adding housing. I don't understand the mentality that would dismiss a good candidate without looking for compromises in order to add them to the team.

Be the main ones complaining that we are short staff