Interstate Equities Corporation
Regional Manager (Northern California)
Interstate Equities Corporation Los Altos, CA 94022
About this job
The Position: Regional Manager (Northern California)
Reports To: President of IECPSC
Location: Los Altos, CA
IEC is a vertically-integrated real estate investment firm specializing in value-add, multifamily in the Bay Area and greater Los Angeles markets. We focus on adding value through opportunistic investing, strategic repositioning and property management. Our property management company, IEC Property Services Corporation, strives to offer excellent customer service and care to residents while achieving property business plans. Founded in 1981, IEC has an exceptional 35 year track record and is rapidly acquiring new communities, offering growth opportunities to great team members.
The Regional Manager (Northern California) will be responsible for maximizing the physical and financial operations of the assigned portfolio and provide direction and leadership in conjunction with IEC Property Services Corporations’ strategies and programs. The assigned portfolio will initially consist of approximately 314 units of apartments located in Redwood City, Fremont, Milpitas, and San Rafael. This portfolio is expected to grow significantly. The Regional Manager will report to the President of IEC Property Services Corporation, the company’s property management division.
- Oversees apartment assets within the assigned regional portfolio.
- Formulates and oversees the implementation of business plans and long-term property operations strategies for each of the assigned properties within the portfolio to include:
- Income and expense budgeting and forecasting
- Maintenance, asset preservation and capital improvements
- Marketing and lease up plans
- Conduct regular site tours and property inspections
- Financial reviews, analysis and pricing
- Supervises and directs the efforts of Community Managers and other associates in order to achieve budgeted property level objectives and to coordinate activities and share ideas relating to property level strategies for the assigned portfolio.
- Assesses the performance of site teams and trains them accordingly to improve results
- Responsible for market analysis, monitors leasing and results, corporate communication, corporate administration, accounting, monitor on-site administration to ensure compliance with corporate procedures and policies.
- Promotes customer service and teamwork with all members of IEC’s regional property management team.
- Continually evaluates each asset, identify key issues, and work with assigned team to develop and implement individual business plans for each property.
- Conducts and participates in frequent financial reviews, analysis and re-pricing.
- Drives and leads the assigned team and manage and monitor properties at the property and portfolio levels to achieve IEC objectives.This includes overseeing and evaluating personnel for all field positions. Ensure that the right functions and talent are in place within the assigned teams.
- Anticipates significant variances to expected performance in any area. Proactively and effectively communicate with supervisor regarding any issues related to property performance as well as overall operational matters.
- Becomes intimately familiar with and knowledgeable about assigned market(s) and is responsible for creating market reports on a regular basis.
- Becomes familiar with new acquisition prospects during diligence to enable a smooth transition upon acquisition. Scale responsibility to manage additional assets.
- Ensures timely and accurate reporting for assigned portfolio using Yardi modules and corporate reporting documents.
- Administers all standing contracts and recurring charges in accordance with IEC’s policies and procedures.
The successful candidate should preferably have a college degree and at least 10 years of experience in apartment management including at least the last two years in multi-site, multi-market management. Additionally, a CPM or ARM designation or designation in progress is preferred.
- Minimum of five years of portfolio level multifamily property management experience.
- Yardi Voyager experience preferred.
- Should have prior responsibility for managing at least a 1,500-unit portfolio, and demonstrate strong hands-on property level knowledge and understanding.
- Track record for and demonstrated capability as a proven leader including the ability to hold associates accountable while also providing the appropriate authority, to build strong and cohesive teams. Demonstrable track record of proven results with revenue generation, staff management and development, financials, and marketing.
- Demonstrates strong hands-on property level knowledge and understanding. Ability to walk a property to identify problems and create solutions, assess and evaluate on-site personnel and vendors, and create management strategies and business plans for long-term ownership. In other words, has both the experience and credibility to lead teams within the assigned region.
- Must have current experience with Bay Area apartment markets.
- Brings a current, best-of-breed perspective and high level of industry knowledge to this position. Will understand and have managed using best practices and key performance indicators.
- Demonstrated knowledge of and/or ability to quickly learn automated systems that IECPSC has established and utilizes for systematic management of apartments.
- Thinks creatively and strategically about a property’s performance in terms of meeting its stated objectives and specific budgetary requirements that are set forth, yet is able to balance creativity with a disciplined approach and perspective.
- Detail oriented and organized; ability to interact effectively with prospects, residents, peers and senior management.
- Excellent interpersonal, verbal and written communication skills.
- Desire and willingness/ability to spend a significant amount of time out of the office visiting portfolio properties and meeting with property managers and vendors (approximately 70% of work week spent out of the office).
- Highly computer/technology proficient and capable of using technology deeply, widely, and proactively throughout the business.
- High level of integrity, honesty and respect for others in both personal and business relationships.
Compensation: IEC offers a competitive compensation package, including:
- Performance Bonus
- 100% Health Insurance coverage for employees
- Vision and Dental Insurance
- Paid Vacations
- Personal Days