Updated about 7 years ago on .
Luxury Onsite Assistant Property Manager - Compensation?
Hi everyone,
I'm looking for some help about my on-site and on-call compensation!! I've been employed with a small start up company for just over a year where we do short term luxury rentals in Denver. It's myself (assistant property manager) , the owner of the company (property manager) and 2 housekeepers. We manage 18 luxury apartments and about to add 20 more. (We furnish and maintain the apt ourselves). We basically run the company like a hotel since its short term rentals. The 20 belong to another company but we will be managing it for them.
I'm currently getting $300 off of my $2,025 rent package (rent, utilities, parking, wifi). I'm also on-call 5 days a week where my after-taxes compensations was at $70 per day but then reduced to $50 per day after taxes in December. My on-call compensation goes directly to my rent plus an additional 13 hours per week of pay to cover rent for the month. I start my day between 9-10am and finished roughly around 5pm and then on-call during the winter. During the summer my days extend to about 6-8pm then on call.
Due to adding 20 additional units my employer wants to redo my contract. She would like to reduce my rent stipend to $200 (rather and $300) since I will be working more hours. She would also like to change my on-call rate again to $21 per hour (post-tax) from 6-10pm instead of $50 per day.
Since there are only 2 of us running the company I do much more than just manage the properties. I wear a lot of different hats. I feel like I'm working just to pay for rent for the apartment I'm required to live in. I want to negotiate my contract to getting a better discount on rent and/or higher hourly pay since I have to live on-site and in a luxury apartment which is also in a very expensive part of town. I don't know if there are "industry standards" for onsite rent discounts, especially luxury or if what she is offering is fair.
Any suggestion would really help! I've attached a photo of what she is offering. Its a little confusing and unclear for me and would love some input and guidance. Thank you!!