At Property Reserve, our people, values, and work come together to build something greater. Property Reserve is the real estate investment arm of the reserve funds for The Church of Jesus Christ of Latter-day Saints. In the spirit of time-tested self-reliance principles, Property Reserve creates sustainable cashflow for future needs.
As caretakers of sacred funds, we invest in income-generating properties and land to support the Church's mission. Our focus is on the acquisition, build-to-hold development, and portfolio level management of office, industrial, multi-family, build-to-rent, hospitality, and retail properties.
Property Reserve provides a diverse range of investment experiences, interacting with a seasoned leadership team. Working in a highly collaborative environment, each Property Reserve team member has the chance to contribute meaningfully and frequently to the company culture. Headquartered in downtown Salt Lake City, we offer a locale with a unique blend of world-class outdoor recreation, a thriving culture & arts scene, and diverse housing options with convenient commutes.
JOB FUNCTION:
The Asset Manager is responsible for the overall performance of a portfolio of residential assets with the purpose of creating asset value through execution of an investment strategy on a short, intermediate and long-term basis.
This position has responsibility for the execution of the investment strategy, re-evaluated annually. Throughout the year, the Asset Manager is responsible for monitoring the performance of each asset to ensure annual goals and overall strategy are achieved and that the assets are properly operating and positioned in the market.
Asset Managers are experts in the property types in which they specialize and the markets in which they operate. They are expected to build and maintain strong working relationships with municipalities, operating partners, and property managers as well as with key brokers, leasing agents and other contacts that operate in their markets.
PR/IP
Church employees find joy and satisfaction in using their unique talents and abilities to further the Lord's work. From the IT professional who develops an app that sends the gospel message worldwide, to the facilities manager who maintains our buildings- giving Church members places to worship, teach, learn, and receive sacred ordinances-our employees seek innovative ways to share the gospel of Jesus Christ with the world. They are literally working in His kingdom.
Only members of the Church who are worthy of a temple recommend qualify for employment. Apart from this, the Church is an equal opportunity employer and does not discriminate in its employment decisions on any basis that would violate U.S. or local law.
Qualified applicants will be considered for employment without regard to race, national origin, color, gender, pregnancy, marital status, age, disability, genetic information, veteran status, or other legally protected categories that apply to the Church. The Church will make reasonable accommodations for qualified individuals with known disabilities.
POSITION REQUIREMENTS & QUALIFICATIONS:
PRIMARY DUTIES & RESPONSIBILITIES:
Develop annual asset business plans and operating/capital budgets to achieve investment strategies
Justify economically and qualitatively the appropriateness of maintenance/capital expenditures
Recommend higher utilization of assets and methods to increase overall return, including possible sales
Prepare accurate financial valuations and market/accounting analyses to support business plans and budgets
Ensure accurate monthly financial reporting and other accounting information on managed assets including payments made/received, and analyze variances with annual budgets
Select, direct, and evaluate property managers, leasing agents and other third-party service providers to achieve goals established in the investment strategy
Maintain a reliable asset-level information system as it relates to the central filing system, various contracts, management reports, analyses and other documents or materials pertaining to the asset
Quickly resolve day-to-day management problems
Prepare financial analyses and property valuations, including cash flow modeling, and prepare effective presentations for the executive team and potential clients
Prior to any acquisitions of new or related party transfers, determine the effort and structure of property management necessary in coordination with related parties or others involved in the transaction
Support in monitoring NOI performance, capital projects and various other responsibilities
Be familiar with and follow approved policies and procedures as set forth by the organization
Conduct property site visits to monitor property performance, manage execution of property goals and objectives, determine capital needs and analyze market
PRIMARY DUTIES & RESPONSIBILITIES:
Develop annual asset business plans and operating/capital budgets to achieve investment strategies
Justify economically and qualitatively the appropriateness of maintenance/capital expenditures
Recommend higher utilization of assets and methods to increase overall return, including possible sales
Prepare accurate financial valuations and market/accounting analyses to support business plans and budgets
Ensure accurate monthly financial reporting and other accounting information on managed assets including payments made/received, and analyze variances with annual budgets
Select, direct, and evaluate property managers, leasing agents and other third-party service providers to achieve goals established in the investment strategy
Maintain a reliable asset-level information system as it relates to the central filing system, various contracts, management reports, analyses and other documents or materials pertaining to the asset
Quickly resolve day-to-day management problems
Prepare financial analyses and property valuations, including cash flow modeling, and prepare effective presentations for the executive team and potential clients
Prior to any acquisitions of new or related party transfers, determine the effort and structure of property management necessary in coordination with related parties or others involved in the transaction
Support in monitoring NOI performance, capital projects and various other responsibilities
Be familiar with and follow approved policies and procedures as set forth by the organization
Conduct property site visits to monitor property performance, manage execution of property goals and objectives, determine capital needs and analyze market