General Manager - Residential Property Management

DESCRIPTION

The General Manager (Residential) has primary responsibility for overall day-to-day management and lease up of the multifamily properties and for supervisory oversight of the property management staff.

Responsibilities include directing on-site staff, contracted services, and vendors to maintain a first-class appearance of the properties. Setting monthly goals to integrate leasing, property management, building maintenance and lease administration functions across the properties. Adhere to the properties' approved budgets with an emphasis on timely rent collection, meeting monthly leasing goals, receivable management, legal evictions and vendor supervision.

RESPONSIBILITIES

• Create a monthly framework for the Property Managers to ensure timely completion of property operations tasks - apartment turns and renovations, financial reporting, associate review and training, preventive maintenance.
• Confirm apartment pricing levels are consistent with current market conditions. Use Yieldstar/LRO or other pricing methodology to set pricing which meets investment requirements and drives consistent leasing activity.
• Keep abreast of new development or redevelopments within the market and be able to discuss how they will impact residential properties.
• Build relationships with local trade organizations to gain more market information.
• Approves all recommended concessions based on current market conditions.
• Seek Owner approval at the beginning of each calendar year on a pricing matrix ("Unit Pricing Matrix") for each unit, including renewals, and ensures the Leasing Associate updates this matrix as required to maximize market rent and occupancy.
• Work closely with Property Managers to set renewal rates. Set the retention expectation per month and support the efforts to achieve the goal.
• Work with Property Managers to develop the annual Business Plan including traffic and occupancy goals. Revenue goals and Expense parameters.
• Ensures all residential leases are executed in accordance with stated policies and procedures. Verify on a monthly basis the accuracy of the properties' (a) rent roll, (b) occupancy status, (c) lease charges, (d) leases match actual resident's name and (e) term.
• Tracks actual collection of rent to ensure timely payment and to avoid excessive delinquent rent balances so that we are not more than 30 days behind on residential lease unless we are seeking an eviction.
• Where applicable - ensures commercial lease terms are correct before leases are executed and accept no changes to the lease form without corporate approval.
• Ensures all building operating systems such as elevators, boilers, central plant cooling systems are (as required) placed on corporate approved preventive maintenance agreement.
• Works closely with the Regional VPs to create a monthly preventive maintenance calendar with the goal to use the on-site maintenance technicians to maintain or complete some of the preventive maintenance work.
• Monitors and controls the properties' expenditures in accordance with approved budgets and be able to provide recommendations for deferring or capitalizing work as required. Seek to control operating expenses by enforcing scope of work, cap pricing increases, seeking group or regional bids and timely payment.
• Inspects the properties at a minimum of once a month to ensure the overall appearance, exterior lighting condition, cleanliness and maintenance of the property's common areas with your vendors and provide Corporate a monthly inspection report.
• Provides annual budgeting and expense management along with monthly variance analysis and work closely with Regional VPs to achieve targeted leasing objectives, operating expense controls, and year end NOI for each property.
• Where necessary, provides operating expense and/or market rent analysis for new developments or acquisitions as required using comparable properties unit pricing for admin, RM, janitorial, contracted services, utilities, bad debt, marketing expenses and payroll.
• Establishes and maintains standardized management practices for (i) emergencies, (ii) evictions, (iii) energy management, and (iv) tenant issues or complaints in accordance with stated polices.
• Adheres to regional rent control (if applicable) or similar governmental agencies (as required) polices as well as Federal Fair Housing Act to avoid any discrimination or legal issues.

Supervisory Responsibilities:

• Provides supervisory oversight of all on-site staff including administrative support, engineers, security, parking attendants, and other vendors.
• Facilitate employee development and training opportunities that promote maximum productivity and position the employee for increased responsibilities and job growth
• Provide performance feedback/counseling along with as required appropriate on site job training and be able to address job performance fails to measure up to standard

Non-Essential Functions:

• Must be comfortable meeting with residents, vendors and corporate staff.
• Team player who is committed to getting the job done, might work weekends (as required).
• Must be detailed oriented, ability to multi-task and very organized.

REQUIREMENTS:

Education/Experience:

• Bachelor's Degree preferred.
• Knowledgeable of general accounting practices as it relates to accrual-based accounting for creating an income statement to include reserving for bad debt.
• Prior experience working in high-volume, multi-building residential property manager capacity
• Proven ability if the position encompasses more than one property to manage multiple residential assets equal to or greater than the unit count for this position.
• Experience using Yardi, Entrata, Nexus, revenue management systems

Technical Skills:

• MS Office including Excel, Word, PowerPoint, Outlook
• Familiar with Nexus Payables or similar software application.
• Familiar with Yardi or similar software application.
• Ability to compute rate, ratio, percent, and to draw and interpret bar graphs.
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference and volume.
• Can calculate monthly and year-to-date financial variances.

Communication Skills:

• Excellent communication skills, both written and verbal.
• Read and interpret documents such as maintenance and instruction manuals, company policies and procedures documents.
• Ability to write correspondence and/or reports accurately in a concise and detailed manner.
• Ability to effectively present information to tenants, vendors, contractors, and other employees of the organization.
• Ability to read, analyze and interpret lease agreements, financial reports and 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.
• Possess strong analytical capabilities.
• Ability to solve practical problems.
• Ability to define problems, collect data, establish facts and draw valid conclusions.

The above salary range represents Cobalt's good faith and reasonable estimate of the possible base compensation range at the time of posting and is one part of the total rewards package this client provides to employees.

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