The Property Manager is responsible for the day-to-day operations of residential apartments and is under the direct supervision of the Senior Vice President of Operations and Principal of Property Management. Additionally, the Property Manager serves as the leader for the onsite team and is responsible for setting goals to achieve maximum rental rates, occupancy and profitability, minimize delinquency and collections, increase resident retention and overall financial performance of the asset.
Duties and Responsibilities
Property Management, Leasing & Marketing
- Understands the property management agreement and ensures client requirements are met as part of daily operations.
- Implements property leasing plan, including achieving market rental rates, conversion ratios, and resident retention goals.
- Establish and maintain property marketing activities, including advertising, website and social media programs. Create innovative marketing plans to reach targeted goals.
- Sets clear and concise directives for property and the asset team to promote innovative solutions to meet or exceed ownership expectations.
- Proactively communicates operational concerns and pending property issues to building owner and Head of Property Management. Communication should be clear, well thought out and accompanied by recommended resolutions.
- Serves as a representative of the building and ownership in dealing with residents, prospective residents, vendors, city, unions and trade associations. Engage in networking activities in the marketplace and with peers.
- Establish an annual customer service action plan based on resident meetings, work order trends, and customer service survey feedback. Foster a property work environment that places a high emphasis on customer service to residents, fellow employees, and clients.
- Create a formal resident contact program that includes regular interaction with residents, both formally and informally. Provide a summary of the meeting to the property team and review applicable action items. Implement a resident program to foster community environment.
- Provides timely and professional responses to resident requests and inquiries. Ensures operating deficiencies are properly resolved in compliance with lease requirements. Monitors monthly work requests to ensure optimal resident satisfaction levels are achieved.
- Supports the marketing and leasing efforts for all assigned properties. Reviews lease documents for operational accuracy. Understands screening and approval process for new residents.
- Approves and helps to implement property leasing and occupancy plan, including achieving market rental rates, conversion ratios and resident retention goals.
- Supports the overall marketing efforts of the community. Monitors advertising effectiveness and analyze concerns that may exist with community, offer recommendations to the team.
- Analyzes concerns associated with apartments that are slow to lease and offers recommendations.
- Ensures that all leases and addenda are completed accurately in regards to addresses, names, rates, signatures etc.
- Maintains detailed and accurate knowledge of all aspects of community, particularly in pricing, vacancies, lease expirations.
- Gathers information about market competition in the area, prepares reports and understands real estate trends and conditions in the submarket. Shops the competitive product within area.
- Reviews and approves schedule of responsibility for leasing team, including leasing path regarding model apartments, common areas, and vacant apartments in preparation of daily tours.
- Keeps up to date with outreach to community and surrounding businesses to drive occupancy by presenting and selling the benefits of the property.
- Leads the preparation of the annual management plan and budget for assigned properties with the established goals and objectives of the owner. Ensures that the property performs to this plan and budget by actively managing the property’s day-to-day operations; and reports on progress monthly to Ownership. Monitors and updates all operating and capital budgets.
- Ensures that property accounting and financial reporting are administered in a timely fashion and with accuracy. Works with the corporate accounting personnel to establish monthly accounting guidelines, develop high quality forecast analysis, and formulate clear and concise explanations for operational and financial variances.
- Leads performance plan and/or strategy to achieve budgeted occupancy, income and operating expenses of the property.
- Endeavors to maintain or achieve a reduction in operating expenses without impacting the long-term performance of the property.
- Ensures that a process is in place to collect income on an average of 98%of Rent (per the lease) within 7 days of due date and all other items are posted within 45 days. Proactively communicates with SVP of Operations and Asset Management any collection issues, including steps taken for resolution.
- Identifies new opportunities to generate additional income.
Operations / Projects
- Responsible for the safety of the building occupants and appearance and preservation of the physical asset. Oversees engineering and maintenance activities and cleaning operations. Institutes and administers the building inspection program and implements procedures to correct deficiencies, if necessary. Ensures an annual formal inspection is completed by mid-year and on-going property inspections are completed by property personnel.
- Administers property apartment turn procedures to ensure timely completion of apartment turn-over based on leasing requirements as well as minimal number of “down” apartments.
- Reviews plans and specifications and assists with the coordination of tenant improvement work for new and renewal non-residential tenants. Manages construction / capital improvement projects at the property level.
- Develops and presents complete, clear and concise analyses and recommendations for all budgeted and unbudgeted projects based on proper bidding parameters. Implements projects on-time and within approved budgets.
- Effectively uses property work order systems to measure property performance including proper response times and billing accuracy.
- Supervises vendors, determining acceptable performance administering contracts, and negotiating and/or resolving issues and disputes. Manages contract obligations to ensure the services are completed with the contract scope and cost. Identifies opportunities for cost savings.
- Stays abreast of governmental issues, labor issues, and code issues affecting the property.
- Serves as a representative of the building and ownership in dealing with residents, prospective residents, vendors, city, unions and trade associations.
- Hires, manages and trains personnel under his or her management. Settles any employee issues that may arise.
- Conducts regularly scheduled staff meetings and openly and proactively shares departmental information affecting the property and tenants.
- Implements a cross-training program in an effort to develop staff and reduce the need for overtime and temporary help.
- Demonstrates knowledge of, adhere to, and support established HR policy and procedures.
- Ensures a safety conscious work environment including compliance with safety, environmental, and hazardous material policies and related laws and regulations.
- Submits annual goals and objectives for all staff members, taking into account individual strengths and weaknesses.
- Ensures job responsibilities and expectations are clearly defined and communicated, work is assigned and distributed appropriately, staff members are trained, and performance issues are addressed immediately.
- Regularly provides formal and informal feedback to staff members and conduct periodic coaching, which includes providing performance feedback, a discussion of strengths, and a discussion of areas for improvement and development. Recognizes employee contributions through formal and informal programs.
Minimum Education and Experience
Bachelor’s degree required, preferably in real estate management, marketing, or a business-related field. Requires at least five years experience in the property management field. Leasing experience a plus. Requires basic computer skills. Must understand accounting and financial concepts. Strong organizational, communication, and supervisory skills are essential.
Required Licenses, Certificates or Knowledge
Real estate license in the state in which the property is located is required. Experience with Yardi, MRI or RealPage preferred.
Work is normally performed on-site, in an office environment at the property.
This job description does not list all the duties of the job. Incumbents may be asked by their supervisors or managers to perform other duties. The employer has the right to revise this job description at any time. The job description is not a contract for employment, and either the incumbent or the employer may terminate employment at any time, for any reason.
To apply please submit your resume to firstname.lastname@example.org.