Topic: We are revisiting our bonuses for NOI and would love to hear other company NOI and quarterly bonus polices

 

15-20% salary (split between quarters) both CM and maint if they meet KPI’s and meet budget. Extra kicker if they beat NOI by 3% or greater

We give the entire staff a bonus. Manager and Lead Tech get the biggest portion and it decreases slightly to Asst. Mgr, leasing, maintenance, and caretakers.

QTRLY - Base it on a % of salary for each position type if goals are met, not on a % of the NOI. The latter can completely screw your teams even when they meet the financial goals set in the budget.

All staff gets a quarterly bonus when NOI is met

My entire team gets a percentage of their yearly salary divided out by each quarter. We are scored on a calculation sheet on: NOI, Revenue, Potential Rent, Delinquency, and Expense.
CM - 20%
MS - 15%
AM - 12%
LC - 5%
GK - 5%

Curious about how everyone bonuses monthly? Per move-in/renewal?
We bonus managers quarterly based on financials. Income, Expenses & adjusted NOI.
The entire staff is bonused monthly based on move ins & renewals.

PM’s receive quarterly. Potential 6.25% of income. 3 categories, each worth a percentage. Total rental income, expenses & NOI. End of year it is 6% based on retention, shops, work orders and discretionary.

$275/quarter if met. CM only.

compared to budgeted expectations) and online reputation reviews & scores

IMO - NOI bonuses should be only based on same store growth and should be a percentage of that growth. It’s like profit sharing and turns employees into partners. It should be given to all team members from Groundskeeper to VP. BUT all team members need to receive education on what impacts that they have on NOI. I have successfully rolled out NOI bonuses and education for many many companies. It is my mission in life as the NOI Coach! Feel free to ping me for more one-to-one thoughts and I will share a policy template with you after a conversation. 

Interested!

On a related note, what do you do to increase NOI? Anyone add doorstep trash pickup to their amenities?

PM and APM receive 15% and 10% of annual salary every quarter. The 15% or 10% is divided by the 4 quarters. PM bonus based 40% on NOI, 20% for Kingsley score, 20% for leasing goals, and 20% property inspection/appearance (performed quarterly). APM's 40% is based on delinquency under 1% for the month in additiona to the other criteria. This seems like a very fair way to award bonuses, because even if you fall short in one area, you can still receive a portion of it.