$ 1,320 Per Apartment Home
Overall , the data showed that an average community requires an On Site Team average compensation of $ 1,320 Per Apartment Unit . This figure does not include any burden , taxes or benefits . This calculation also does not consider other positions like accounting , human resources , and other corporate office team member positions , but as you budget for 2023 it ’ s a slick figure to plug in and compare how your onsite compensation stacks up on a per unit basis .
A fun fact we decided to calculate — To manage and maintain the entire Denver Metro industry ’ s 390,000 units , it takes approximately $ 515,000,000 of on-site compensation per year ( again this doesn ’ t include insurance , taxes , etc ). If we included Regionals and Executives the figure is over $ 600,000,000 ( again this figure does not include other necessary corporate office staff like accounting , human resources etc .
The annual rent revenue for Denver Metro area apartments is $ 8.7 Billion .
Regional Manager Portfolio
They keep my brand consistent , time and time again
Arvada
( 303 ) 422-7440
7320 W 52nd Ave Unit A www . fastsigns . com / 232
DTC
( 303 ) 792-0878
10697 E . Briarwood Circle www . fastsigns . com / 221
Lakewood
( 303 ) 922-4444
10790 W . Alameda Ave www . fastsigns . com / 178
Denver Midtown
( 303 ) 399-7446
1485 S Colorado Blvd Ste 150 www . fastsigns . com / 479
Englewood / Littleton
( 303 ) 761-7212
110 E . Centennial Ave www . fastsigns . com / 238
The average Regional Manger portfolio for the study included 1,580 units , which was typically 6 communities with 33 onsite team members . A Regional Manger on average has been in their position for 5 years . On average a Regional Manger compensation is made up of 85 % base salary and 15 % incentive pay .
The average VP portfolio includes 5,774 units and 22 communities with 139 onsite team members . On average a Vice President has been in their position for 10 years . On average a VP ’ s compensation package is made up of 80 % base salary and 20 % incentive pay .
Turnover a Major Problem
Turnover continues to be a problem for our industry , with 38 % of the positions turning over in the past 12 months . The highest turnover was at the Leasing positions at 49 %. The Maintenance Technician turnover was 47 % over the past 12 months . The good news is the Maintenance Tech turnover is down compared to 2 years ago when it was 52 %. Even better news is the Maintenance Supervisor turnover went from 48 % in 2020 to 30 % in 2022 . On Site Community Manager turnover was 33 % ( up 2 % from 2020 ). Regional Manger turnover was 11 %, which is down from 16 % in 2020 .
32 | TRENDS OCTOBER 2022 www . aamdhq . org