I have a question. It concerns the amount of compensation to give an on site manager.
Currently, I believe the compensation we pay our manager is way beyond what our budget can afford...and way beyond industry standards. Combine that with the fact that our manager has no credentials and fails at some of the most basic duties of a manager.
I am seeking information from knowledgeable sources that can give me input as to what an on site manager should receive in compensation, and what qualifications should be expected for that compensation.
The condominium, in St. Louis, Mo, is a 175 unit, 6 building property that is 40 years old. The yearly income/budget of $750,000.
Any help you can give me would be greatly appreciated.