The Leasing Manager-Residential is responsible for the oversight of all residential leasing efforts, marketing and brand positioning of the assets, and maintaining best practices across their respective region related to leasing processes, fair housing, sales procedures, and closing. Also provides oversight over the required reports related to the leasing function for assigned property(s). Mentor Leasing Associates and provides training for new Leasing Associates.
ESSENTIAL FUNCTIONS:Manage and approve pricing on a bi-weekly basis for assigned portfolio and hold the team accountable to those rates. Pivot as needed based on unit availability and submarket trends while maintaining full transparency of these decisions to the Residential Area Manager, Regional Vice President, and Asset Manager. Regularly inspect all residential properties and floor plans to determine asking rent based on the building’s attributes and unit location within the property. Establish weekly leasing objectives based on foot traffic, marketing print or internet and referrals to meet budgeted monthly objectives for new leases, renewals and appropriate closing ratios for both for all assets within assigned portfolio.Ensure vacated spaces are prepared in a timely manner for re-leasing and for new development, create a marketing plan with the objective to pre-lease units before all the units are physically complete for all assets within assigned portfolio. On a monthly basis ensure team is either meeting or calling all expiring residential leases at least 60 days prior to their expiration and ensure all lease expiration notices are sent to tenants at least 30 days prior to the lease expiration date.Manage weekly/monthly submarket rent analysis prepared for each individual asset’s relative comp set and consolidate into report that is shared on bi-weekly leasing calls.Provide unit turnover or vacant unit capital improvement recommendations to the Residential Area Manager and Property manager to (a) preserve existing rental rates and (b) seek a higher rental rate by recommending unit improvements (e.g., updating appliances, cabinets, etc.) Ensure appropriate lease files with credit check, references, resident profile and correspondence is maintained on a daily basis using CIM Group standard lease folders and lease administration procedures for all assets within assigned portfolioAdhere to LAHD rent control or similar governmental agencies (as required) polices as well as Federal Fair Housing Act to avoid any discrimination or legal issues.
NON-ESSENTIAL FUNCTIONS:Perform administrative tasks such as filing and creating files. Follow procedures and create a system so that on days off other property staff can close a lease or renewal.
SUPERVISORY RESPONSIBILITIES: Provides technical guidance and training to other Leasing Associates.
EDUCATION/EXPERIENCE REQUIREMENTS: (including certification, licenses, etc.)Bachelor’s Degree required.Three years’ prior experience working in a residential leasing capacity. Familiar with Fair Housing leasing practices Must possess a valid state-issued driver’s license.MS Office including Excel, Word, PowerPoint, Outlook.Familiar with Nexus Payables or similar software application.Familiar with Yardi or similar software application.
KNOWLEDGE, SKILLS AND ABILITIES:Ability to write correspondence and/or reports accurately in a concise and detail manner.Ability to effectively present information to visitors, tenants, vendors, contractors and other employees of the organization.Ability to read, analyze and interpret lease agreements, market data, financial reports and/or legal documents.Ability to respond to common inquiries or complaints from tenants, regulatory agencies, other areas of the company, and/or members of the business community.Ability to apply common-sense understanding to carry out instructions.Ability to solve practical problems.Ability to define problems, collect data, establish facts and draw valid conclusions.
PERFORMANCE METRICS:Adherence to the properties’ approved Unit Pricing Matrix.Accuracy and timeliness of monthly market rent report.Meet or exceed monthly leasing objectives as stated in the operating budget. Timely execution of leases.Maintain approved marketing cost below budget. Tenant survey and questionnaires.