Regional Portfolio Manager
Essex Property Trust, Inc. San Mateo, CA 94401
About this job
POSITION SUMMARY: This associate will be responsible for overseeing the physical and financial management of the assigned portfolio consisting of 8 - 12 assets and no more than 10 direct reports. This position reports to a Sr. Regional Portfolio Manager or Vice President.
COMPENSATION: Position is exempt and ineligible for overtime. This associate is eligible for an annual bonus as defined under current programs.
KEY RESPONSIBILITIES: Key responsibilities of this position include, but are not limited to optimizing financial performance; as measured by achieving budget and same store growth, expense control and Capital projects. This position requires successful execution of personnel management, associate engagement and team leadership. Contribute to the overall Property Operations through committee involvement in standardizing best practices, and managing by company performance standards.
ATTENDANCE: It is critical that this individual possess the ability to work the necessary days/hours to complete the essential functions of the position. Work schedule and assignment locations are subject to change. Travel required.
MINIMUM JOB REQUIREMENTS
- College degree and/or industry designation (e.g. CPM) preferred
- Minimum two years multi-site supervision experience leading a team consisting of five or more communities required
- Property management certification preferred
- Valid driver license and automobile insurance
- Acceptable verbal and written English language communication skills and knowledge of business correspondence
MINIMUM JOB SKILLS REQUIREMENTS
- Proven ability to lead a staff of five or more direct reports
- Exhibit excellent management, communication, time management and leadership skills
- Capable of reading, analyzing and understanding business documents (e.g. Budgets, Financial Statements, Lease Agreements, Vendor Contracts and Landlord/Tenant Law)
- Proven track record in meeting or exceeding business objectives
- Have a working knowledge of federal, state and local laws concerning housing.
- Computer literacy required: Proficient understanding of Microsoft Excel, Word and Outlook, Yardi and Yieldstar
- Proven organizational and time management skills
- Job is intermittently sedentary, but requires mobility (i.e., climb stairs) to tour community on a daily basis
- Will use some repetitive motion of hands/wrists using a computer
- Requires light lifting
EQUIPMENT REQUIREMENTS: This position requires individuals to be able to drive to their multiple sites locations. The associate may furnish their own vehicle and receive a monthly car allowance or accept a company car, under company guidelines, to travel from site to site.
Regional Portfolio Manager Performance Standards: The purpose of the performance standards is to outline more specifically the details of the position. This is not an all-inclusive list, and duties specific to another position may be assigned to you.
- Responsible for the overall operational and financial goals set for the portfolio/asset including, maximize rent levels in conjunction with a revenue optimizer system, perform market evaluations, maintain occupancy, managing lease exposure, optimizing other income and control operating expenses. Perform financial forecasting and prepare budgets to meet the goals and objectives and contribute to the company's NOI and FFO.
- Monitor each asset's performance as compared to company's performance standards and budget. Ensure underperforming assets are following measurable corrective action plan.
- Complete authorized Capital projects per property budget and monitor expenditure and timeliness. Provide input to Development, Redevelopment and CMS personnel. Give specific recommendations on the maintenance and care of the physical asset. Review and sign contracts related to the management of the property.
- Recognize the importance of communicating major ownership issues concerning property operations, including but not limited to, the physical condition, environmental issues, potential legal exposures, etc. to the appropriate management personnel.
- Collaborate with and support other intercompany support departments.
COMMUNITY VISITATION REQUIREMENTS
- Community visits should be conducted a minimum of two times a month for at approximately four hours each visit.
- Bi-Monthly site inspection should be conducted.
- The property walk should include physical inspections which should include; curb appeal, amenities, models, market-ready units, vacant units, common area maintenance projects, and major capital improvements.
- Perform annual Capital property walks and safety inspections as required.
- Perform monthly RPM Audit Checklists as outlined in SOP 831.
- Conduct monthly financial reviews to include Budget Comparison, General Ledger, Charge Register Exceptions and Monthly Financial Review report.
- Monitor collections of all property revenue sources including rent, Ancillary and vending income, refunds and collections. Monitor and audit use of P-Cards.
- Review and approve site processed invoices for accuracy, appropriate coding, and adherence to budget and vendor compliance as required.
- Promote good customer service with residents, co-workers, inter-departmental staff and vendors displaying a friendly and positive attitude.
- Provide clear and inspirational leadership of the company's philosophy and goals that fosters a culture of team work and collaboration.
- Provide career guidance through motivating mentorship and coaching for all direct reports.
- Monitor hiring and staff performance at site level. Recruit and hire Community Managers.
- Ensure training and development of onsite employees.
- Assist in coaching, consultations and termination process as necessary.
- Complete written evaluations of Community Managers and oversee the written evaluation of their subordinate personnel in accordance with company guidelines.
- Utilize measurable performance standards, employee rankings and other means to ensure that compensation is tied to performance.
- Monitor and control staffing levels and employee scheduling to ensure proper coverage for operation of the business.
- Perform other duties and activities as may be requested by his/her supervisor.
CUSTOMER SERVICE/MARKET KNOWLEDGE
- Responsible for ensuring that the physical appearance of the community complies with company standards
- Proactively researches submarket in order to understand vacancy and pricing trends
- Understands market specific trends
- Ensures internet marketing and websites are updated per policy
- Review administrative reporting (e.g., Move In files, Availability report, etc.) monthly to ensure we are in compliance with SOX and adherence to Essex's Policies and Procedures.
- Support the investment department through participation in acquisition and disposition activities
- Adapts to change and follows instruction
- Receives constructive criticism in a professional manner
- Completes high quality reports in a timely manner
- Completes all company required training in a timely manner