I was just offered the Assistant Building Manager position

[Vette73]

Make sure you know the rules about being on call.

When I was in HS I worked at a grocery store and was on call. They called me in once and I said sure, be there in 2ish hours. They got mad as they said I was "on-call" and should be close. I asked am I going to get paid by sitting by the phone and you don;t call me? They said no and I said see ya in 2 hours.

 

[Hacp]

I am single and live by myself.

8 days on call is not that bad. Duties are limited to things like showing apts to prospective tenants, general cleaning, some small repairs, paper work and related non-serious stuff. The days are during the week and Saturdays for now. Basically its to give time off for the Landlord.

I would ask for at least full rent.

 

[sdifox]

I would imagine most of the calls will come on the weekend when people are not at work.

 

[Iron Woode]

I would imagine most of the calls will come on the weekend when people are not at work.

maybe, but there will be fewer tenants next month. The college kids are leaving in droves.

 

[sdifox]

maybe, but there will be fewer tenants next month. The college kids are leaving in droves.

Well, good luck and hope it works out for ya. Be careful on how the 80% off is handled. You don't want it to end up showing up as income.

 

[AgaBoogaBoo]

For those who are calculating what he's being paid "per hour" for this job - don't forget to factor in that he would have had to earn much more, pre tax, than just what we're calculating. If it comes to $7.50/hour of cash, and his marginal rate is 25%, then that's the equivalent of $10/hour. It's not the largest per hour difference, but it should be factored in.

I say go for it - figure out exactly what he does, learn everything you can, and save money. It's one more opportunity for you in the future in case you decide you want to buy/build an apartment building of your own someday.

 

[Kirby]

Assistant to the Building Manager?

 

[Vette73]

For those who are calculating what he's being paid "per hour" for this job - don't forget to factor in that he would have had to earn much more, pre tax, than just what we're calculating. If it comes to $7.50/hour of cash, and his marginal rate is 25%, then that's the equivalent of $10/hour. It's not the largest per hour difference, but it should be factored in.

I say go for it - figure out exactly what he does, learn everything you can, and save money. It's one more opportunity for you in the future in case you decide you want to buy/build an apartment building of your own someday.

Unless you are saying he should break the law, his rent being cut is a gain and is taxed.
The company will write it off on their books and if they use his name the IRS can come after him. Mind you they will wait several years while the intrest and penalties grow.

 

[rcpratt]

I would never do that in a million years. But it seems like you're up for it, so have fun.

 

[alkemyst]

OP how many units are there? That could be a big determining factor.

I got the details from an ex what her arrangement was doing something similar to this. She got her rent totally covered for a 1BR/1Bath apartment. I think they were going for around $800 a month at the time.

There were a lot of units, she wasn't that busy. Her job was to take care of lockouts after 6pm, determine if a repair was an emergency and twice a month work 8 hours at the rental office on a Saturday.

Most of the time she'd just get called about flooding, she'd run up to the unit cut the water and then call the 24 hour plumber they used.

Sometimes people would call her instead of the police though (noisy parties and the like)...it wasn't that bad for her.

She didn't plunge any toilets, it was actually one of the things (along with sinks) that she'd tell the tenants to do over the phone. If they didn't have a plunger they had them to give...the tenant would have to do the work. If the plumber came and a plunging was all it took, the tenant would be billed for the call.

There were a few asshats that would call late once or twice a month about lightbulbs and other bullshit. They didn't have her direct number fortunately (make sure they just forward the main number to your's and not give out your direct line).

If it works for you fuck what anyone else thinks. If one is making a ton of dough having all their free time is great, when you don't have a lot of dough you have to trade free time occasionally.

 

[Imp]

No comments concerning taking "advances" on rent? I'm ashamed for all of us.

 

[lupi]

If I was remotely handy and had rent I'd do it. If on call was too active I'd bow out. Could be ez discount.

this

 

[Iron Woode]

Unless you are saying he should break the law, his rent being cut is a gain and is taxed.
The company will write it off on their books and if they use his name the IRS can come after him. Mind you they will wait several years while the intrest and penalties grow.

all it means for me is that I won't be able to declare my full rent next year at tax time.

 

[SSSnail]

Depends, do you have a lot of old people or kids in your complex? If not then it's cake. In my years of renting, I don't think I've called the landlord at all to do anything. Usually if something is wrong I just fix it and bill him later.

 

[zerocool84]

Maybe the OP doesn't have any friends and doesn't do anything on weekends anyways. this is perfect for him then.

 

[alkemyst]

Free rent is not a tax-issue if it's part of the job. As a building employee it is easily argued that the need to live on premises is a requirement of the employment.

 

[SearchMaster]

all it means for me is that I won't be able to declare my full rent next year at tax time.

Rent is deductible in Canada? Interesting...

 

[Vette73]

Rent is deductible in Canada? Interesting...

Ha; I had the same thought as well.

But in the US that gain is income and would have to be reported. Not sure if Canada is the same.

 

[sdifox]

Ha; I had the same thought as well.

But in the US that gain is income and would have to be reported. Not sure if Canada is the same.

He has to report it. Income is income. I doubt the company is going to re-write his lease to drop his rent and not mention it is in lieu of service.

 

[Iron Woode]

He has to report it. Income is income. I doubt the company is going to re-write his lease to drop his rent and not mention it is in lieu of service.

I am sure the Property Management will set it up to show how I was paid by reduced rent for income tax purposes.

I will be checking out all the particulars over the next few weeks.

 

[Gibson486]

8 day a month? so each weekend?

 

[Iron Woode]

Rent is deductible in Canada? Interesting...

I can declare my rent up to a little over $6000. This goes towards my personal tax credit.

 

[Iron Woode]

8 day a month? so each weekend?

it will be various days. Most are not set.

 

[vi edit]

If it works for you fuck what anyone else thinks. If one is making a ton of dough having all their free time is great, when you don't have a lot of dough you have to trade free time occasionally.

Fair enough. I delivered newspapers 7 days a week while my wife was going through pharmacy school to help pay the bills. Most people thought that was a whacky gig for a 25 year old with a college degree and full time job to do at 4:00AM.

 

[olds]

Years ago, I was working at a complex and I was the maintenance mechanic. I paid full rent.
They offered me the assistant manager position in exchange for working the rental office every other weekend.
I asked how much more money I would be getting and I was told: "None. You'll be getting the title." I declined.