Residential Portfolio Manager
$55,000.00 – $65,000.00 per year
We currently have an exciting opportunity for a full time Portfolio Manager to be based out of our office in Pasadena, CA. This position will be responsible for the asset management for a portfolio of residential apartment buildings We are looking for a high energy, “can do” individual that enjoys a fast pace and diverse workload in a dynamic environment! Experience with residential management is a must.
- Review, approve and sign rent increases to maximize performance at each building, based on market conditions.
- Review delinquencies at each building no later than the 5th of each month. Determine which residents are to be sent to legal.
- Review all reports on vacancies, rentals, and notices on a weekly basis. Modify or change directives to meet the needs of the property.
- Review and approve all Security Deposit Settlements.
- Document and correct any building violations of Local, State or Federal guidelines and/or codes.
- Bid out all Capital Expenditures (roofs, concrete, elevators, pools, etc.) and obtain three bids for each project. Schedule and oversee all major and minor renovation projects on assigned properties. Follow contract through approval, down payment, and completion. Determine if supervision fee applies.
- Visit all sites at least twice per month.
- Review all incoming contracts (ie. Deck repair, boiler service, elevator maintenance, landscaping, etc.) Approve such contracts if they are less than $1,000 and less than 30 days in term. Review and obtain approval from Asset Manager in charge of project if contract is in excess of $1,000 or more than 30 days in term. Never sign or approve a contract with automatic renewal option.
- Identify potential structural and/or cosmetic improvements needed at site, budget for same, review with Asset Manager, implement and execute repairs as approved.
- Handle complaint calls from residents and/or tenants that cannot be handled by Portfolio Assistants.
- Review, document and determine appropriate action on all eviction issues.
- Initiate and supervise any necessary collections processes at each site in portfolio.
- Communicate property investor inquires to Laurie Braddy.
- Review all invoices approved by Resident Managers prior to submitting for payment.
- Oversee mold issues and remediation efforts for portfolio. Accommodate tenant relocations as needed. Submit expenses for insurance reimbursement, if applicable.
- Participate in quarterly manager’s meeting as scheduled.
- Determine the market rents for properties in your portfolio – not less than monthly.
- Assist in the review of all forms on a regular basis to remain in compliance with current laws and Fair Housing regulations.
- Conduct property inspections on a regular basis – not less than quarterly. Schedule all maintenance and repairs (routine, preventative and emergency).
- Communicate as necessary to Marketing Coordinator all site marketing programs, including rent specials, discounts or move-in programs.
- Initiate and/or approve all property leasing materials.
- Assist in gathering information for refinances – meet with inspectors, direct actions of property and employees for inspections.
- Be aware of property tax increases and loan principal payment changes throughout loan term for budgeting purposes.
- Supervise tenant credit approvals
- Maintain programs for tenant retention.
- Enforce lease agreements and rent increases.
- Review monthly, quarterly and annual property maintenance to determine if any bonuses are to be paid to resident managers.
- Provide guidance and follow up supervision on a daily basis for all Resident Managers and Portfolio Assistants.
- Hire, train, direct and supervise property employees.
- Interview, hire and fire as necessary, Resident Managers and laborers for assigned properties. All new hires and terminations are subject to review by Human Resources.
- Annually review all onsite personnel for performance and/or cost of living increases.
- Document (in writing) any violation(s) of company policy(ies). Monitor that corrections are made by employee(s).
- Audit and monitor that safety procedures and company policies are followed by onsite personnel at all times.
- Review monthly, quarterly and annual financial reports and create written monthly or quarterly correspondence for mailing to investors. All reports must comply with reporting schedule provided in Property Management Agreement.
- Oversee the quarterly market rent comparable report on portfolio properties.
- Report to Principals and/or Asset Managers on the performance of all sites as requested.
- Prepare annual budgets for each entity in portfolio. Budgets must show as profitable and be done on time.
- Provide mileage expense report by close of books each month.
- Review coding and approve all invoices for each property in your portfolio.
- Report on the performance of all sites during monthly Portfolio Manager’s meeting.
- Compile and submit out of pocket expenses each month as close of books.
At least 5 years residential portfolio management experience
- Must possess strong project accounting skills, including budget development, ongoing project cost monitoring and large money contract management.
- Must have worked in a corporate environment and possess an excellent customer service attitude with the ability to collaborate, communicate and interact with various management levels within the organization.
- Strong computer skills (MS Suite office of programs including Word and Excel). Yardi experience essential.
- Full time (8 a.m. to 5 p.m.) Monday through Friday.
- Employee medical insurance
- Reimbursement for mileage and cell phone.
- 401K, vacation and attractive benefit package.
- Starting salary – $55 – $65K depending on experience.
- Generous bonus program.
Job Type: Full-time
Pay: $55,000.00 – $65,000.00 per year
- Dental insurance
- Health insurance
- Paid time off
- 8 hour shift
- Bonus pay