Since May 1st of 2011, BC's minimum wage has been increased every 6 months, with the final increase coming into effect on May 1st of this year. What does this mean to you as a landlord? If you own a building that has a 9 or more suites and have a resident manager or caretaker, their wage will need to be increased if you haven't already raised it.
The final increase on May 1st brought the minimum wage for managers/caretakers of buildings with 9 to 60 suites to $615 plus $24.65 per suite. If your building has more than 60 suites, the minimum salary is now $2,094.84.
Remember these amounts are the minimum; they are not necessarily what you should pay your on-site staff. Good managers and caretakers can be difficult to find - and minimum wage may not be the best way to attract the good ones.
The final increase on May 1st brought the minimum wage for managers/caretakers of buildings with 9 to 60 suites to $615 plus $24.65 per suite. If your building has more than 60 suites, the minimum salary is now $2,094.84.
Remember these amounts are the minimum; they are not necessarily what you should pay your on-site staff. Good managers and caretakers can be difficult to find - and minimum wage may not be the best way to attract the good ones.
