WOW, 10 years... that's almost unheard of nowadays...
Salary rates seem to be a difficult number to pin down, especially for a position that arguably is one of the most important on site, and especially for an employee that has shown loyalty for that long. If he is an independent contractor, with no benefits, $35.00 an hour sounds about right (depending on where you are in the country).
(note...I spoke with a Maintenance Tech a few weeks ago in a class that is being considered for a promotion that will pay him over $100,000.00 per year, plus bonuses. His building is in Manhattan, so the salary is very different than the comparable would be here in the south.)
Another way to look at this is if he left, would the residents (Condo owners) notice a change? Does he or whomever in that role enhance the community to the point that the expectation of the residents would change without that job being filled in the manner in which it is being done so currently? Will this change affect sale prices on the condo's, or monthly maintenance fees. (Curb appeal and renewal rates)
My guess is that he wouldn't stay with that drastic of a pay cut. If so, would the experience and work ethic you receive for less money offset the cost savings? I agree, that this is generally is an untypical amount of money to pay what basically is an "entry level" position. IF someone were off the street, they would not receive this. HOWEVER, if they have 35 years of loyal and engaged experience, are stable, dependable and self-managing; $35.00/hour may be too cheap...