I've been in the same apartment for 30 years, and began managing seven years ago. I'm in San Francisco so it's a rent controlled apartment. My contract specifically states that my residency is separate from my employment. It's a 28 unit very old badly maintained building in the heart of the city. I've filled it with amazing people though so the tenants are easy.
I've been through three property management companies since I started. The first gave me a full rent credit and a very very small salary and small bonus for renting units. They asked that I account for 15 hours a week. The second gave me $500 a month, a full rent credit which is worth $800 a month, a cell phone credit of $50 a month, but no bonuses, and I was asked to account for 18 hours a week.
The third company just began managing the building and I don't have a contract yet, but they're telling me that my last contract was 'an awesome deal' for me and extremely generous. They said they will ask me to account for six hours a week expecting that I can do the job in that time, but the compensation is unclear.
I have nothing to do with the money, so I am not collecting rents or processing applications. I mainly oversee the building operations, make sure things are running smoothly, and project manage whenever there are repairs, which is frequent.
The amount of time I actually put in varies from week to week. Some weeks It could be a couple of hours, others 18 or more, plus I am on-site so it's 24/7.
The question is have I been compensated fairly, and should I ask for at least the same or more that I was getting previously?
Thanks for any insight or info!