Property Management
A Kentucky apartment complex employs a resident manager who lives on site. Compensation for the resident manager may include:
ACommission on new leases only
BReduced or free rent plus a salary, subject to wage and hour laws✓ Correct
CA percentage of the building's NOI
DOnly the cash value of the free rent
Explanation
Resident managers may be compensated with a combination of reduced or free rent and a salary. However, even if rent is the primary compensation, federal and Kentucky wage and hour laws may require that the total compensation meet minimum wage standards for hours worked.
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