Ensure you never miss an issue of the
real estate business bulletin
Rising PM demand producing higher pay

Rising PM demand producing higher pay

by Elyse Perrau 0 comments

Property management salaries are beginning to increase as principals place more value on their PM departments, says a leading recruitment company.

Real Estate Career Developers general manager Daniel Gonsalves told Residential Property Manager there is strong demand for experienced PMs in the real estate industry, which is pushing up pay.

The comments follow the release of the Residential Property Manager Salary Survey, which will gauge remuneration levels across the entire Australian property management industry.

Mr Gonsalves said PMs who know how to run a portfolio end-to-end are now more widely recognised in the industry.

“The pays are starting to move a little bit, which hasn’t happened in quite some time – people are prepared to pay for good property managers,” he said.

Mr Gonsalves said there is a bigger shortage of PMs in Melbourne, but Sydney is not far behind.

“We get a property manager into our office and it is not uncommon that they might have four, five or six interviews within 48 hours because they are in demand,” he said.

“Salaries are starting to increase with demand. Unfortunately they have not shot up, but particularly over the last 18 months to two years, we have started to see them certainly trend up.”

Mr Gonsalves said when principals look for a PM candidate they are increasingly focusing on longevity in previous roles.

“What tends to happen now unfortunately is people bounce around jobs every five minutes and it doesn’t look great on their CV, and clients are starting to recognise that,” he said. 

“They want people who are prepared to dig their heels in and stay for the long haul.” 

Entries for the Residential Property Manager Salary Survey close on Friday 8 May.

Click here to participate. 


Rising PM demand producing higher pay
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?