My husband wants us to be managers of a apartment complex. he thinks it would be a good way to save money on housing. Around her you can usually get either a really good housing discount or free housing to the manager. My step brother and his wife are currently doing this right now and they get free housing as well as a small paycheck. Sounds like a lot of work to me. (Sign!!) And are you truly ever "home" from work?
So this is my question:
What was your experience like?
good/bad?
I *think* Grandma T. is one! Hopefully she will chime in . . .
There are always pros and cons to any decision. You have to be the judge of whether it's for you.
We own a home with two apartments. It can be alot of work depending on if: you are required to do the apartment repairs, take care of clogged drains, care for the grounds, collect rent, find tennents, evict when necessary, etc. If you can set up 'office hours' so that you have your evenings free, that would be ideal. If you have someone you report to (the owner) then you would have to clear when you'll be out of town so that they can be available in case of an emergency.
Some days are ok, others I really don't like being responsible for apartments. And many times I wish I could distance myself from the apartments rather than live within them. However, being this close makes we very aware of what is happening and generally things are less likely to become a huge problem.
Bottom line is, you have to decide if it's worth being home to get the discounted housing with all the responsibilities. It's definitely not a free ride.
Ya got to figure no one will pay you to sit on your butt. If they give you X Y and Z you will be darn sure you will earn it.
As many people as I have heard complain about their apartments I wouldn't touch it.
I lived with my cousin for a couple years during my college days while she was managing a very large apartment complex. She had a little office (basically a bedroom) attached to her apartment, so her 'commute' to work was convenient - come 'home' for lunch, etc. I think she liked it okay, but I do remember her being frustrated from time to time. She was a single mom with 2 kids. My cousin is a very outgoing, easy going, caring, sweet, patient person, but she could also be firm (with a smile) for things like eviction notices, collecting rent, etc. Because the site was so large, there were maintenance people available, so she didn't have to do any of that stuff(other than call and make sure repairs got taken care of, perhaps some follow up). In my memory, she was always home in the evenings. I don't remember any late calls or anything. I imagine she had an answering service though for emergencies (again, due to the size of the complex). This was 20+ years ago, in California though, so take it with a grain of salt. ;)
Grandma T has said this is her job.
I would think its hard since you have to know how to deal with and handle all sorts of jobs to repair and keep things safe up to code and decent. Also, Id think its hard and awakward to be neighbors with the people you have to keep in line. Its hard when you want to be friends with the people in the unit next door, but then have to call and make them stop being noisy after 10pm, or to clean up cause they are slobs, or to evict them when they dont pay the rent. Youre on call 24 hours a day and have to listen to everyones business and complaints. The pay you get is reflected in the housing costs, so its not like you get free rent. You just dont get paid that ammount. Lets say some other job pays $2000 a month, and you have to pay rent of $500. This apartment manager job will pay you $1500 a month and let you stay in a $500 apartment. You still have to pay all the other bills, and be at work when needed. Ive seen a lot of couples who had this job, but the man ended up doing all the physical work, and the wife did the office work, which kept both of them from being able to go get any other job for more income. One couple loved this job. She was able to stay home with their 2 kids and handle the office/phones, applications, and he was a great handiman for a huge variety of jobs. I know it was a tight budget but they did great for several years.
When I lived in an apartment waaaay back in the day, I was really close to my apartment manager (if this counts). She loved the job for the most part, but hated living on the same premises that she managed. Because it was a large apartment group and they had different sites, she tried moving to another complex, other than the one she managed, and it helped SOME, but not a lot. I could tell it stressed her out. She eventually ended up moving back into the complex she managed around the time I moved out... and last I heard, she's still there (and it's 10 years later!)... I suppose it has it's pro's and con's... if I ever had the option to live rent free and make money managing the same complex I lived in, I wouldn't do it, only because our family is so big, BUT... if, God forbid, it was ever just me and the kids, I'd jump at an opportunity like that!!
I did this when I lived in Ohio. My ex and I managed several apartment complexes. When you're home from the night, you're home...most of the time. There are times when something is going to come up and you have an emergency that takes you out of the house, but typically people understand that they shouldn't bother you after office hours unless it's an emergency.
I enjoyed it for the most part. I made some wonderful friends. It's a good way to save money. Our apartment, and all utilities were paid for by the company who we worked for. We only paid our food, insurance, etc.
