Job Description: Director of Property Management
Primary Duties and Responsibilities
LEADERSHIP AND MANAGEMENT
Senior Management Participation
• Participates as an active and contributing member of the Senior Management Group and other sub-groups as appropriate.
• Maintains a constructive and highly interactive relationship with the other departments to maximize portfolio value and streamline reporting, including but not limited to:
• Asset Management – which acts as the “quarterback” calling the plays and coordinating team members on the assets as directed by the Strategic Business Plan;
• Creative and Leasing as these departments work to drive revenue and differentiate Company assets;
• Risk Management on insurance, crisis preparedness and crisis avoidance matters;
• Legal Department on employment and other legal matters at the property level;
• Fund Accounting on reporting and cash flow issues;
• Accounting on budgeting, monthly and annual reporting, reforecasts, etc.;
• Human Resources on employment related issues.
• Assists in the establishment and implementation of Company organizational strategies, goals and objectives to ensure efficient operations.
• Create and implement a Company Property Management Manual that establishes standardized policies and procedures and Best Practices applicable to each project and the organization as a whole.
• In conjunction with the Strategic Business Plan, works with the asset managers, property managers, and creative/leasing teams to establish written goals and objectives relative to properties.
• Establishes written objectives/strategies with individual property managers relative to each property management offices.
• Provides guidance and motivates property managers to obtain results, both at the property level and at the management office.
• Monitors all of the above to ensure consistency with expectations.
• Manages all property management staff.
• Assists the property managers in selecting employees for the property management offices.
• When hiring property managers, checks references and effectively coordinates the interviewing process.
• Takes appropriate action, when necessary to reward, reprimand or terminate property managers.
• Provides orientation and initial training of property managers.
• Trains property managers on Company policies and procedures, Best Practices.
• Ensures that all employee training needs are assessed, and necessary training programs are designed and implemented to meet staff requirements.
• Evaluates and approves any outside training for property managers.
• Be aware of all material property management issues.
• Through continuous periodic property visits/property inspections and quarterly review meetings, assesses and communicates property manager performance against Strategic Business Plan goals.
• In accordance with Company’s policies, reviews all established goals and objectives with property managers in a timely manner.
• Evaluates property managers, counsels and recommends areas for improvement.
• Makes annual salary recommendations based on overall performance ratings for property managers, and reviews and approves property managers’ salary recommendations for the management office staff.
• Effectively communicates in both verbal and written format.
• Conveys essential information concisely and in a timely manner throughout the organization, as appropriate.
• Facilitates clear and concise communication by property managers directly to asset management and senior management, and vice versa.
• As appropriate, assists and supports firm marketing efforts and asset managers and senior managers in effectively communicating with Company’s current and prospective partners/tenants.
• Assists the acquisitions team in coordinating functions involving the purchase of properties as follows:
• Attend Monday Acquisition Pipeline and Asset Management meeting;
• New deal review includes:
• Provide “reality check” on pro formas with a focus on expense items
• Provide feedback on important due diligence items;
• Where it is anticipated Company will manage the asset, determine appropriate resource and staffing allocation and timelines for the asset, along with a projected Company P&L for the asset.
• Travel as needed during acquisitions due diligence to see proposed assets and interview potential new Company employees and/or third-party managers, depending upon path to be taken.
RESOURCE TO PROPERTY MANAGERS
Real Estate Expertise
• Supports the property managers and creative/leasing professionals in the accomplishment of their goals and objectives though the application of proven real estate expertise.
• Provides continuing training to the property managers by sharing this real estate knowledge.
• Supports and assists property managers in negotiating significant leases, major service contracts, and solving property operating issues.
• Coordinate and implement annual tenant surveys and evaluate the results.
• In addition, maintains relationships with key tenants.
Leasing & Marketing
• Through the Strategic Business Plan process, supports the asset manager and property managers in the development of specific leasing and marketing plans for each property.
• Coordinates property managers’ involvement with local brokerage community and maintains appropriate contacts with key regional brokerage managers.
Property Renovation and Redevelopment
• Supports the asset managers, development managers, and property managers in the assessment of potential value-added renovations and/or redevelopment.
• Recommends appropriate value enhancement strategies as appropriate.
• As needed, works with the Creative/Development managers in the development and execution of property renovation programs.
• As appropriate, assists the Creative/Development managers in the establishment of project parameters, design scope, and capital authorization approvals.
• Ensures that appropriate fiscal controls for capital expenditure projects are followed.
• Utilization (Highest and Best Use)
• Supports the asset managers, development managers, and property managers in the assessment of each property’s current position in the marketplace and in developing value enhancement strategies based upon these assessments.
• Ensures that these strategies are appropriately communicated to the asset manager and are integrated into the Strategic Business Plan process.
• Effectively manages and leads property managers.
• Ensures that all property management offices are properly staffed and operated effectively in accordance with Company standards.
• Works closely with property management administration professionals in the implementation of Company’s policies and procedures, Best Practices.
• As appropriate, approves disbursements that exceed the property managers’ approval authority.
• Ensures regulatory and local law compliance.
• Reviews and approves the annual budgets for the property management offices and individual properties prior to submission to asset managers for fiscal approval.
• Monitors the property managers’ performance relative to the Strategic Business Plan strategies and the related budgeted goals and objectives.
• Supports the property managers in their efforts to manage operating expenses and major delinquency problems.
• Responsible for each property manager receiving the proper level of accounting services from the Company accounting group.
• Work closely with Company Accounting to ensure all reporting is done on a timely basis.
• Be involved in the fall and spring reforecast (budgets) process, ensuring timelines are met and accuracy and standardization in reporting, as outlined in the Company Best Practices.
Carnahan Property Management services Woodland Hills,West Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, West Lake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 and check if we can service your area.