Senior Property Manager (Residential)

Property Management

Posted: 06/21/2022

Full Time

Annandale, VA

The Residential Property Manager is responsible for the day-to-day management and operations of the property. Responsibilities include, but are not limited to, leading the on-site team, oversight of daily activities, residential satisfaction, achieving budgeted financial goals, and maintaining a best-in-class appearance of the property. This position will set goals to integrate leasing, property management, building maintenance, and resident retention activities that positively impact the overall success of the property. Additionally, they will manage to the property’s approved budget with an emphasis on timely rent collection, meeting monthly leasing goals, resident retention, expense and revenue management, and vendor supervision.

ESSENTIAL FUNCTIONS

Leasing

Confirm building amenity pricing is accurate by shopping property’s defined competition and using mystery shoppers and/or other market research firms.

Approve rents and concessions on available apartment homes based on market conditions, availability, and leasing strategy for the property.

Work closely with resident services and leasing teams to ensure all renewals and new leases meet or exceed approved pricing strategy.

Ensure marketing plans are achieving desired results and align with revenue and leasing goals. Follow property software reporting and make recommendations as needed to maintain targeted prospects, tours, and executed leasing goals.

Ensure all residential leases are executed in accordance with CIM’s Standard Operating Procedures (SOP). Review ongoing and monthly to validate the accuracy of the property’s (a) rent roll, (b) occupancy status, (c) lease charges, (d) lessee’s match actual resident’s name, and (e) term.

Ensure lease terms are correct before all residential leases are executed by any resident and accept no resident’s changes to the CIM Group lease form without prior corporate approval. All supporting Addendums must also be executed by the residents as set forth by each property’s standardized lease form.

Create and approve social media content for property’s on-site events and local neighborhood news and respond to questions and comments on the property’s social media channels.

Financial

Track rent collection to ensure timely payment and to avoid excessive delinquent rent balances so that the property is no more than 30 days behind on any residential lease unless there’s a pending eviction.

Create and deliver timely and accurate annual budgets and monthly variance analysis reports. Work closely with the property team to achieve all targeted leasing objectives, operating expenses, and year-end NOI for each property.

Report on property’s financial performance each month and provide explanation for the variances.

Management Operations

Ensure all building operating systems such as elevators, boilers, central plant cooling systems are (as required) placed on an approved preventive maintenance agreement.

Responsible for knowing and understanding the market of assigned property’s comp set.

Keep informed about new development or redevelopments within the market and be able to discuss how these will impact CIM’s residential properties.

Build relationships with local businesses or organizations to gain additional market information.

Work closely with the Maintenance Supervisor to create a monthly preventive maintenance calendar with the goal to use on-site maintenance technicians to maintain or complete most of the preventive maintenance work.

Monitor and control the property’s expenditures in accordance with the approved budget and SOP’s. Ability to provide recommendations for expense efficiencies and capital work as needed.

Inspect the property on a daily/weekly basis to ensure the overall appearance, exterior lighting condition, cleanliness and maintenance of the property’s common areas and units.

Assign and delegate tasks to ensure timely completion of turnover repairs, leasing initiatives, preventive maintenance tasks, and leases being entered into Yardi.

Establish standardized management practices for (i) emergencies, (ii) evictions, (iii) energy management, and (iv) resident issues or complaints in accordance with stated SOP’s and CIM Group polices.

Adhere to all local agency’s rent control or similar governmental agencies(as required) polices as well as Federal Fair Housing Act to avoid any discrimination or legal issues.

Work with in-house or outside legal counsel on legal matters

Stay current on the changing Landlord-Resident Laws.

Maintain a first-class management office with digitized leasing files, vendor files, building files and others as may be required. Ensure the management office is staffed appropriately and that the property is operating in the most productive and efficient manner.

Provide inspired leadership to your team while implementing plans and creating a collaborative and engaging work environment with focus on training, coaching, and mentoring.

Provide all the tools and training to empower employees to think creatively and make informative business decisions.

Be able to provide operating expense and/or market rent analysis for new developments or acquisitions as required using comparable property unit pricing for administration, repairs and maintenance, janitorial, contracted services, utilities, bad debt, marketing expenses, and payroll.

Become a market expert and be able to coach the team in differentiating CIM’s properties and management of properties and what sets them apart from the competition.

Bid, award, and create service contracts as per CIM requirements.

Manage capital improvement projects.

Evaluate service providers and contractors and hire the best company for the job.

CIM does not accept unsolicited resumes from Agencies. Any unsolicited resumes received from Agencies will be considered property of CIM and no fees will be due or paid. If you wish to become an approved Agency with CIM or any of its Affiliates, please contact a member of the CIM Talent Acquisition Team.