How Much Do Community Association Managers Make in Florida?
Becoming a licensed Community Association Manager (CAM) in Florida can be a rewarding career path with the potential for competitive compensation. The average salary for CAMs in Florida varies depending on experience, location, and the type (and size) of property being managed.
According to Glassdoor, a licensed community association manager salary is between $57,000 and $88,000 annually in Florida. However, for CAMs managing high-end properties or larger associations, annual compensation can exceed $125,000, especially in metropolitan areas such as Miami, Fort Lauderdale, and Orlando.
Additionally, CAMs working for larger property management companies or luxury communities may be eligible for bonuses and other incentives, which can significantly increase their earnings.
How Are Community Association Managers Compensated?
CAMs in Florida are compensated in various ways depending on their employer and the type of association they manage.
Some CAMs may be paid hourly, especially those starting in the field or working for smaller properties. Hourly wages typically range from $18 to $30 per hour, depending on experience and the complexity of the property.
CAMs working for larger communities or high-end properties are often salaried. Salaries can range from $57,000 to $125,000 annually, with the potential for performance bonuses.
CAMs may also receive bonuses based on performance metrics, such as maintaining low delinquency rates, ensuring high resident satisfaction, or meeting financial goals set by the board. Some CAMs may have opportunities for profit-sharing arrangements or commissions if their responsibilities include revenue generation for the community.
Related: Is a CAM License Worth it in Florida?
Highest Paying CAM Jobs: What Types of Properties Pay More in Florida?
Not all CAM positions are created equal when it comes to compensation. The type of property or neighborhood a CAM manages can significantly impact earnings. Here are some properties that offer higher salaries for CAMs in Florida.
Luxury condominiums: CAMs managing luxury condominium complexes, especially in high-end areas like Miami Beach, Palm Beach, or Naples, can command higher salaries due to the complexities of managing high-value amenities, extensive service offerings, and discerning residents.
Large master-planned communities: Large-scale communities with multiple amenities (such as golf courses, fitness centers, and resort-style pools) and extensive budgets tend to pay CAMs more. The size of the community directly correlates to the level of responsibility, which in turn influences how much the CAM makes.
High-rise residential properties: Managing high-rise buildings, particularly in urban areas, often comes with added challenges like strict compliance requirements, higher resident expectations, and complex building systems, which justify higher pay.
Golf and country club communities: CAMs overseeing exclusive golf course communities or country clubs may earn more due to the high-profile nature of the residents and the demanding upkeep of luxury amenities.
Active adult communities: Communities that serve those 55 and older also tend to offer higher salaries to CAMs who manage both the property and the lifestyle services. After all, some of these active adult communities offer expansive amenities, such as wellness centers, clubhouses, and social activities.
Do Community Association Managers Make More Than Property Managers?
When comparing CAMs to traditional property managers, the compensation structure can vary based on the responsibilities and type of properties managed. While both roles involve managing properties and ensuring smooth operations, CAMs in Florida often manage larger community associations with multiple residential units, which can result in higher compensation.
CAMs vs. Residential Property Managers: In many cases, CAMs managing large community associations or high-end properties can earn more than residential property managers who oversee individual rental properties.
CAMs vs. Commercial Property Managers: On the other hand, property managers who oversee commercial properties such as shopping centers or office buildings may earn higher salaries than CAMs, especially in major cities. However, CAMs working in luxury or large-scale residential communities can still compete with these salary ranges, particularly when factoring in bonuses.
With the right experience and expertise, CAMs in Florida can command competitive salaries, especially in luxury or large-scale communities. Whether hourly or salaried, CAMs have opportunities to grow their income through performance bonuses and specialized roles, making it a lucrative field.
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