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Sr. Property Manager (Residential)
CIM GroupLos Angeles, United Statesfull_timeVerifiedPosted 9 Aug 2024
💰 $140,000/yr($100,000/yr – $140,000/yr)
About the role
ABOUT CIM GROUPCIM Group is a community-focused owner, operator, lender and developer of real assets headquartered in Los Angeles, California. We are 1000+ employees strong around the world, with $31.2B in assets owned and operated. Our projects have delivered jobs; created comfortable places to live, work and relax, and provided necessary and sustainable infrastructure.Our focus on enhancing communities is unwavering, and we are striving to make an even greater impact in the years to come. Our diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. We strive to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which we invest.
POSITION PURPOSE 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 and excellence in customer service, 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. Annually draft a budget and business plan for review and approval. 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.
POSITION PURPOSE 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 and excellence in customer service, 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. Annually draft a budget and business plan for review and approval. 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.
- 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
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