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Are PMs being overworked and undercut?

Are PMs being overworked and undercut?

by Jay Garcia 0 comments

The issue of industry pay is again in the spotlight after new research found most property managers work harder than the average Australian.

According to a recent RPM poll, 66.7 per cent of property managers are working at least 41 hours per week. The average work week, according to the Australian Bureau of Statistics, is 39.9 hours per week.

Elevate Property Group director Daniel Bligh said that although property managers are working longer hours than the average work week, they’re not being adequately compensated in his opinion.

Mr Bligh told RPM the long hours aren’t because property managers are being unproductive, but because they are an expected part of the job.

“Having structured diaries will really assist these roles,” he said. “However, there needs to be flexibility available to allow for emergencies and the non-standard duties property managers are faced with on a regular basis.”

First National Real Estate’s national property and commercial manager, Amanda Kohler, said property managers can have ideal days blown out by unforeseen issues.

Ms Kohler said property managers’ compensation comes down to management fees, which are being undercut by some agencies.

“We need to educate our principals so they understand the implications of reducing their management fees just to get a property on board,” she told RPM.

According to Ms Kohler, disharmony with management fees across the industry means continued problems with incomes and revenues.

“It’s a problem I don’t think we’ll be able to solve any time soon and has been going on for a long time,” she said.

[Related: Redefining a 'better deal']

Are PMs being overworked and undercut?
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