Job Summary:
Under the direction of the Vice President of Real Estate and President, the Regional Real Estate Manager is responsible for all operations of his or her apartment portfolio, with an emphasis on optimizing revenue and NOI, preserving assets for individual properties, creating and enforcing policy for efficiency in operations, developing team members, and creating a positive work environment. Financial:
- Manage portfolio financial performance by creating and achieving annual operating budgets, monitoring expense control, and analyzing monthly Profit and Loss Statements to incorporate strategies for improvement
- Provide budget guidelines to establish income and expense benchmarks, turnover expenses, staffing levels, rent increase percentages and other strategies
- Monitor and make recommendations for revenue plans, delinquencies, deposit procedures, resident reimbursements and processing of payables for the best interest of the company
- Examine turnover procedure for damage assessment, turnover costs and fees associated with the preparation of statement of security deposits
- Make recommendations for capital improvements and deferred maintenance and ensure all tasks are completed on time and within budget
- Approve property invoices and ensure property checks are cut correctly
- Review delinquency weekly, including detailed delinquency report as required. Coach the Real Estate Manager on any action required to collect rents and provide training as needed. Monitor filings to the attorneys and to FCO/Better NOI for collections.
- Prepare all reports, analysis, and budgets in an accurate and timely manner. Convey this information to owners
- Review AME checklists and Monthly Accrual Checklists and ensure compliance with the process
- Working knowledge of Real Page as required
- Provide a resource to the BMs for help with any Real Page questions
- Assure timely processing and approval of invoices through Real Page by all team members.
Marketing:
- Review the weekly or bi-weekly marketing survey and questionnaire. Verify that the survey information is accurate
- Develop and implement sales and marketing plans to effectively maximize rents
- Monitor, direct, and regulate leasing activity and market rates to maximize occupancy
- Review proposed rent increases and market rents at a minimum monthly, advising Property Managers of pricing strategy and opportunities for adjusting rental rates
- Develop and implement appropriate rent renewal strategies
- Lead the lease up efforts with help from the Marketing Strategist
- Maintain an ongoing in-depth knowledge of the market, market rents, market trends and demographics to gain a competitive edge
- Support leasing and property staff to sustain at least 85% average on all shops
- Monitor Craig’s List, Vis-Call and other marketing tools to ensure that the properties are maximizing leasing programs
- Assure all Fair Housing regulations are being met
- Review and implement leasing bonus specials and concessions when necessary
Service Operations:
- Personally, inspect each property monthly including grounds, common areas, models and market-ready units
- Identify deferred maintenance, major repair and capital improvement work that will improve property performance
- Assist the Real Estate Manager in obtaining competitive bids and proposals for work and services
- Examine turnover procedures for quality and timely completion of finished units. Implement changes as needed.
- Assist the Real Estate Manager, Service Director and Regional Service Director on capital improvements and deferred maintenance projects and ensure all are completed on time and within budget
- Monitor work of contractors and report findings to the RSD
- Ensure that each property has a safety program that is effective and proactive
Administrative:
- Implement all policies and procedures in the AION P&P Manual. Ensure compliance as necessary.
- Review bid summaries, service contracts, vendor information and insurance documentation.
- Attend staff meetings and safety meetings, if applicable, for each property in portfolio on a regular basis
- Produce quarterly written property inspections and determine appropriate action needed
- Standardize all property operations and initiate changes as needed
- Assist in development and acquisition of new communities
- Review and assess property workers compensation and safety standings recommending action plans to reduce injuries, damages and claims
- Ensure compliance with the terms of the management agreements
- Ensure compliance with LITHC, ADU, Section 8 or any other government requirements
Personnel Development:
- Interview and assist in selection of Real Estate Managers, Assistant Real Estate Managers and Service Directors and assist in hiring of other property team members
- Approve all new hires, status changes and terminations of property staff
- Assist and advise on coaching or actions plans for team members. Take an active role with Service Directors.
- Review any compensation changes and obtain VP approval
- Review and evaluate all property positions
- Provide staff leadership and supervision which motivates employees and creates high morale by communicating expectations
- Provide training and supervision of Senior Real Estate Managers, Real Estate Managers, Service Directors and other property team members. Constantly coach and mentor Senior RE Managers and RE Managers. Make recommendations for future training needed.
- Meet with BM weekly to discuss marketing, vacancies, budgets, personnel, maintenance and any other issues
- Provide ongoing feedback to team members with career development
- Monitor employee scheduling and missed punch forms. Review overtime and implement changes to keep at a minimum
- Review all employee shops and evaluations
- Prepare and conduct property meetings as necessary to review new policies and procedures, property objectives and problem solving
- Conduct regular employee one-on-one meetings
- Attend all required training classes
Miscellaneous:
- Seek, identify and implement creative programs to increase property value
- Develop professional relationships with owners. Participate in property owner’s meetings. Work with owners to identify property goals and objectives. Be responsive to owner’s needs
- Lead due diligence projects for property acquisitions or dispositions
- Assist with feasibility studies of new acquisitions or development, including site evaluation, financial analysis and developing marketing plans
- Establish relationships in the real estate industry to benefit AION
Requirements:
- BA or BS or CPM and 5 years multi-site experience required
- Three years of experience in direct supervision of management staff of three or more
- Excellent knowledge of eviction law, Fair Housing and other legal issues affecting property management.
- Strong computer skills including Microsoft Word, Excel, Outlook
- Proficiency in one of the following: MRI, Real Page or YARDI
- Superb written and verbal communication skills
- Must be able to walk apartments and grounds, including steps and climbing stairs
- Occasionally requires lifting 20 pounds or less
- Valid driver’s license
FSLA Status: Exempt
