LEASEHOLD SECTOR PAY INCREASES

The average annual salary of employees who work in the leasehold sector rose in the past 12 months to £47,693. But fewer block managers believe they will see an increase in economic activity over the next year when compared to those quizzed in 2016.

 

The Institute of Residential Property Managers (IRPM), News on the Block and property recruitment agency Macdonald & Company worked together to produce the salary survey.

 

And while there was an increase in the average salary, this could have been affected by the lower number of junior staff who took part in the survey.

 

A total of 12.7% of people aged between 23 and 26 answered questions compared to 23.6% in the 45–55 age bracket.

 

Those who have worked in leasehold sector for 0–4 years earned, on average, £27,454 with abonus of £1,170. Meanwhile, thosewith between 21 and 30 years of experience said they earned an average of £72,562 with bonuses of £12,540.

 

A total of 47.5% of those who took part in the survey said they expected an increase in economicactivity – but this was down fromthe previous year, where 54.8% said they expected more activity. However, there seems to be a bigger demand for staff, with almost 57% of those questioned expecting an increase in head count, mostly at the “qualified or experienced professional” level. 

 

More than half (50.8%) of respondents said they do not expect their pay and bonuses to change this year, while 32.2% are expecting an increase.