Apartment Trends Magazine September 2020 | Page 23

AAMD would like to thank the participating companies for confidentially sharing their compensation data. We encourage any feedback or comments. For additional information, questions, or feedback please contact Mark Williams, Executive Vice President for the Apartment Association of Metro Denver. [email protected]. Each category of data has: averages, medians, and various percentiles (10th, 25th, 33rd, 50th, 66th, 75th, and 90th). This is extremely useful in seeing a variety of compensation levels within each position category. For example if you’re promoting a relatively in experienced Assistant Manager to Manager you might look at the 10th or 25th percentile to see what the market rate is… conversely if you’re hiring a well seasoned highly experienced and sought after Manager – you might look more closely at the 75th or 90th percentile to determine what the market rate is for this person. An important aspect to how averages are collected- is that zero’s are not included. For example, in the Housekeeper section, of the 90 responses ten received a monthly bonus, and the aver- Responsibility Analysis What a Manager or Regional Manager gets compensated is rarely compared to what the value of those assets are… We’ve taken the time to illustrate just how much in value a person is overseeing in terms of dollars… and just how few of people are on-site operating these properties. MANAGER, ON AVERAGE SUPERVISES OVERSEES VALUE OF ASSETS AVERAGE ANNUAL REVENUE Up to 100 Units – 1.7 Employees $ 19 Million $ 1.5 Million 100-199 Units – 3.1 Employees $ 36 Million $ 2.8 Million 200-299 Units – 4.9 Employees $ 59 Million $ 4.6 Million 300-499 Units – 7.5 Employees $ 88 Million $ 6.9 Million 500+ Units – 12.8 Employees $ 162 Million $ 12.5 Million REGIONAL MANAGER, ON AVERAGE SUPERVISES age is $205 per month. These means of the ten (10) housekeepers who received a monthly bonus the average is $205; meaning the other 80 who didn’t receive a monthly bonus are NOT calculated into this average. The report provides the exact number for each data section, so this perspective can be included. We hope you find the data and presentation valuable for your business. Data for this report was collected in the August of 2020. The report also demonstrates and highlights the overall change from 2019 to 2021, and in most cases includes historical data for 2019 2017, 2015, and 2013. Participants were asked to provide either annualized actual data from the first half of 2020 or annual budget data from 2020 or 2021. OVERSEES VALUE OF ASSETS AVERAGE ANNUAL REVENUE Up to 750 Units – 1.7 Employees $ 123 Million $ 10 Million 750-1500 Units – 26 Employees $ 288 Million $ 22.8 Million 1500+ Units – 39 Employees $ 500 Million $ 38.5 Million Turnover Rate Turnover continues to be a challenge for the Denver multi-family industry. 42.5% OVERALL TURNOVER (ALL POSITIONS) 2019 REPORT PROPERTY MANAGER ASSISTANT MANAGER LEASING PROFESSIONAL MAINTENANCE SUPERVISOR MAINTENANCE TECHNICIAN GROUNDSKEEPER 19% HOUSEKEEPER REGIONAL MANAGER VP 14% 2021 REPORT 31% 34% PROPERTY MANAGER 31% ASSISTANT MANAGER 37% LEASING PROFESSIONAL 38% MAINTENANCE SUPERVISOR MAINTENANCE TECHNICIAN GROUNDSKEEPER 17% HOUSEKEEPER REGIONAL MANAGER VP 2% 37% 48% 44% 53% 60% 52% 57% 63% 65% 20% 18% 91% 7% 14% VP/ EXECUTIVE ASSISTANT MANAGER MAINT. SUPERVISOR GROUNDS- KEEPER REGIONAL MANAGER 80% 82% 9% 93% 86% www.aamdhq.org SEPTEMBER 2020 TRENDS | 21