I recently had an interesting discussion with one of our managers, lets call him Geoff, whose Body Corporate committee had very generously advised him they were concerned he was being underpaid. Our manager asked me how much remuneration I thought a manager of a complex of his size and location should be paid… and I’m embarrassed to say, all I could do was shrug my shoulders. You see although I’ve worked in this industry for over a decade, speak to dozens of onsite managers every day, and am a licenced letting agent myself… The truth is, I personally, have never worked as a caretaker and I really have no idea how much a manager should get paid. Fortunately for Geoff, I did have a novel solution to answering his question and I thought it might help other managers wondering the same thing.
As most of our audience already know, we have a very extensive database of Management Rights. If there’s a management rights for sale in Australia, our website knows about it. Thanks to all the wonderful brokers out there, we have extensive, accountant checked financial data, on literally thousands of complexes around the country. To my knowledge, there isn’t a more complete set of data anywhere – I’ve spoken to a few MR valuers whose eyes narrow to slits when I tell them of the data our site holds. Of course this data is sensitive, and I would never disclose identifiable information to anyone relating to our listings…. But as a collective, this data can be very useful to help our industry gain a better understanding of trends and averages – and it can certainly be put to good use answering Geoff’s question, and probably many other managers who are wondering the same thing.
I therefore wrote a bit of code that mined our database. The code sorted every listing into regions based on their radial proximity to nearest regional centres. It then took the total annual salary per complex and divided it by the number of lots in each complex to get a per lot figure. It then averaged the results of each complex according to their region and made a note of the sample size in the region. The result, was a very reliable figure, indicating exactly what the average remuneration was, per lot, for both holiday, and permanent complexes around the country. Here’s the stats we got back – now, keep in mind these figures on relate to remuneration (BC Salary) – they have nothing to do with multipliers or letting pool size – this is just caretaking. Enjoy the data, and if you have any other questions relating to general industry data, don’t hesitate to post them in the comments below and I’ll see what we can do.
Permanent Complex Salary Rate
Beenleigh $ 1,180 PA, per lot (sample size: 12)
Brisbane $ 1,318 PA, per lot (sample size: 108)
Cairns $ 1,310 PA, per lot (sample size: 12)
Gold Coast $ 1,474 PA, per lot (sample size: 154)
Ipswich $ 1,317 PA, per lot (sample size: 4)
Logan $ 1,290 PA, per lot (sample size: 7)
Sunshine Coast $ 1,326 PA, per lot (sample size: 11)
Townwsville $ 1,388 PA, per lot (sample size: 5)
Resort Complex Salary Rate
Brisbane $ 1,580 PA, per lot (sample size: 8)
Cairns $ 2,003 PA, per lot (sample size: 59)
Gold Coast $ 1,664 PA, per lot (sample size: 158)
Hervey Bay $ 1,340 PA, per lot (sample size: 4)
Northern NSW $ 1,846 PA, per lot (sample size: 5)
Port Macquarie $ 1,913 PA, per lot (sample size: 8)
Rockhampton $ 1,314 PA, per lot (sample size: 4)
Sunshine Coast $ 2,004 PA, per lot (sample size: 125)
Whitsundays $ 2,409 PA, per lot (sample size: 6)
Wide Bay $ 1,392 PA, per lot (sample size: 8)