Apartment managers add jobs to meet demand

More apartment managers are hiring employees.

More property management companies hired employees last year, as the apartment demand around the country continued its rise, according to a report from the National Multi Housing Council.

Of the multifamily management organizations surveyed, 65 percent hired more employees, while nearly the same amount increased the bonus pool. When examining companies that experienced staff gains, these organizations improved staff numbers by more than 10 percent, according to the NMHC's 2012 Apartment Compensation Survey. Approximately 80 percent of property management companies increased compensation budgets, overall.

A total of 77 percent felt their financial performance was improved last year when compared to 2010's figures, the report explained. Much of this was due to the improving multifamily market, and according to 70 percent of respondents, this should continue into next year.

Turnover was not significantly changed in 2011 compared to previous years, the report noted. Last year, the rate was 30 percent, while it was 31 percent dating back to 2009. More than half of multifamily companies had a wellness program in addition to health benefits, salaries and bonuses for employees.

The report added that six in 10 companies provided help for education expenses, while three-quarters gave discounts on housing options to staff members.

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