How much do I pay my first employee of Property Mangement Co.
I have a small but growing Property Management Company. We (my wife and I) currently manage 50 homes but want to grow to a couple hundred. I am thinking about hiring an employee (and family member) to help grow the company. I was thinking of paying a small base salary and then some commission for every new property they get for the company through cold calls, mail outs, door knocking, and networking etc.. On an avg property we charge about $400 the first month for finding a tenant, then about $125/month for managing it afterwards.
Any ideas on how I should pay them, and what all duties they should be responsible for?