Property management accountants are an important part of the real estate and property industry. They help property owners manage their finances and oversee the day-to-day financial operations of a property. As important professionals in this industry, property management accountants have strong earning potential.
The average salary for a property management accountant varies depending on experience, geographical area, and company size. According to PayScale, the national median salary for a property management accountant is $64,517 per year. This figure is based on responses from over 4,000 property management accountants surveyed nationwide.
Property management accountants in the 10th percentile of earners make close to $37,000 annually, whereas those in the 90th percentile may make upwards of $94,000 per year. A majority of property management accountants make salaries between $51,000 and $80,000 annually. With varying experience levels, geographic locations, and employers, salaries can range widely.
The cost of living in an area can also factor into a property management accountant’s salary. In general, salaries tend to be higher in urban areas, such as New York City or Los Angeles, than in more rural or suburban locations. However, a property management accountant’s salary will vary greatly depending on a range of factors.
In addition to salary, property management accountants also receive a variety of benefits, such as health insurance, paid vacation, and bonuses. Property management accountants may also receive 401(k) or other retirement accounts with employer contributions.
In conclusion, property management accountants typically receive salaries of between $51,000 and $80,000, though salaries can vary depending on experience and location. Property management accountants may also receive a range of benefits and bonuses in addition to their base salary.
Property Management Accountant Salary
Property management accountants provide a wide range of accounting and financial services for companies in the real estate industry. They manage a variety of financial processes, such as budgeting, forecasting, accounts payable and receivable, and taxes. As such, they are typically well-compensated for their services.
Base Salary and Benefits
Property management accountants typically have base salaries that reflect the level of expertise they bring to their position. Salaries vary depending on location, but according to Glassdoor, the national average salary for a property management accountant is $60,276.
In addition to their base salary, qualified property management accountants usually receive a certain level of benefits, such as medical insurance, paid vacation, and retirement plans.
Incentive Compensation
In addition to their base salary and benefits, property management accountants may also be eligible for bonuses and other forms of incentive compensation. The amount of these bonus payments can vary, but may be based on performance, meeting targets, or providing additional services to clients.
Growth Potential
The job outlook for property management accountants is positive, with the Bureau of Labor Statistics (BLS) predicting that the field will continue to grow through at least 2026. As such, property management accountants can expect their salaries to increase over time as they take on more responsibility.
In addition, property management accountants may have the opportunity to move up in their organizations, gaining both higher salaries and more responsibility.
Conclusion
Property management accountants are in high demand, and as such, salaries for this profession can be quite lucrative. Generally speaking, qualified property management accountants can expect to earn between $60,000 – $100,000 per year, depending on their location and experience. In addition, many property management accountants receive additional bonuses and benefits, as well as the potential for growth.
Property Management Accountant Salary
Accountants in the field of property management may make a more than comfortable living if they have the right credentials. Property management accountants may be employed in the accounting departments of private residential and commercial real estate firms.
A property management accountant may be responsible for:
- Analyzing financial documents
- Preparing financial reports
- Monitoring changes in relevant laws
- Preparing financial forecasts
- Assisting with budgeting and forecasting
The salary of a property management accountant varies depending on the region and industry they are working in. According to the 2019 Bureau of Labor Statistics, the median salary of a property management accountant was $62,020 annually.
Factors Affecting Salary
A number of factors will affect the salary of a property management accountant, such as:
- Level of education and experience
- Type of firm they are employed by
- Size of the firm they are employed by
- Region they are working in
According to recent data from payscale.com, the top 10% of property management accountants are making upwards of $78,000 annually, whereas the bottom 10% are making around $46,000 annually.
Conclusion
With the right qualifications and experience, property management accountants can make more than a comfortable living, with salaries ranging from mid $60Ks to around $80Ks. To increase their earning potential, property management accountants can seek experience in residential and commercial real estate firms.
Property accounting is a specialized accounting field that involves the monitoring and tracking of financial problems associated with real estate transactions and transactions related to property management. Property Management Accountants collect rents, generate financial reports, and provide tax information, and other information to property owners and tenants.
The salary of the Accountant in property management varies, depending on the size of the accounting office and the amount of experience the Accountant possesses. According to the U.S Bureau of Labor Statistics (BLS), the median annual salary for accountants working in property management is approximately $60,940. The highest 10 percent of property management accountants earn more than $93,290 a year, while the lowest 10 percent earn less than $36,670 annually.
The top industries that employ Property Management Accountants include real estate and leasing companies, property management companies, associations, and financial and insurance firms. The best opportunities are found in larger metropolitan areas, which usually pay a higher salary for accountants than their suburban and rural counterparts.
In addition, there are a few other factors to consider when looking at the salary of Property Management Accountants. Education is an important factor, as certain degrees can increase a Property Management Accountant’s earning potential. Bachelor’s and Master’s degrees in accounting, business, or finance may be required in order to qualify for higher paying jobs.
Location is also another important factor in determining a Property Management Accountant salary. Property Management Accountants in larger metropolitan areas tend to enjoy higher salaries, due to an increased demand for accountants as companies and businesses with large real estate holdings in these areas require the services of a knowledgeable and skilled Accountant.
Apart from the geographic factors, experience and specialized certification are also important factors when calculating a Property Management Accountant’s salary. The more experience an Accountant has, the bigger the salary they can command. And, having specialty certifications in property management or real estate laws can help to increase an Accountant’s marketability as well as their overall earning potential.
Overall, Property Management Accountants are highly sought after, and those trained in this area can enjoy a great career path and a good salary. Those looking to enter the field should become comfortable with financial statements and the principles of accounting, in order to be successful in the job.
