Job Summary:
The Property Manager is responsible for the overall operational, financial, and physical performance of a designated portfolio of commercial and residential properties. This role serves as a key liaison between ownership, asset management, vendors, and on-site teams, ensuring properties operate efficiently, remain compliant, and achieve optimal Net Operating Income (NOI).
The Property Manager provides strategic oversight of budgets, leasing compliance, capital planning, vendor relationships, and cost controls while maintaining high standards of tenant service and regulatory compliance.
Key Responsibilities:
Property Performance & Financial Management
- Own property-level financial performance, ensuring adherence to approved operating budgets.
- Monitor income, expense, variances, and forecasts; proactively address underperformance.
- Identify cost-saving opportunities and expense reduction strategies without compromising asset quality or tenant satisfaction.
- Support and implement NEO optimization initiatives, including rent optimization, expense controls, recovery strategies, and operational efficiencies.
- Collaborate with asset management and leadership on annual budgets, reforecasts, and long-term financial planning.
Lease Administration & Compliance
- Oversee lease compliance for both commercial and residential tenants.
- Ensure accurate execution of lease terms, including rent escalations, CAM reconciliations, operating expense recoveries, and compliance obligations.
- Coordinate with leasing, legal, and accounting teams to address issues, amendments, renewals, defaults, and enforcement actions.
- Ensure tenant compliance with use clauses, insurance requirements, maintenance obligations, and regulatory standards.
Capital Improvements & Asset Preservation
- Identify capital improvement needs and prioritize projects based on asset condition ROI, and long-term value.
- Assist with development of capital expenditure (CapEx) budgets and timelines.
- Oversee planning and execution of capital projects, including vendor selection, scheduling, and quality control.
- Ensure projects are completed on time, within budget, and aligned with ownership objectives.
Vendor & Contract Management
- Manage vendor relationships and service contracts, including maintenance, landscaping, janitorial, security, utilities, and professional services.
- Solicit bids, negotiate contracts, and ensure compliance with contract terms, safety requirements, and service-level expectations.
- Approve invoices and ensure alignment with budgets and contract agreements.
Operations & Risk Management
- Ensure properties are maintained in compliance with local, state, and federal regulations.
- Oversee risk management practices, including insurance compliance, incident reporting, and safety protocols.
- Address tenant issues and escalations in a timely, professional manner.
- Ensure emergency preparedness and response procedures are followed.
Leadership & Collaboration
- Provide leadership and guidance to on-site property management staff (if applicable).
- Partner with leasing, accounting, construction, and asset management teams to align operational execution with strategic goals.
- Serve as a trusted advisor to ownership and senior leadership regarding property performance and operational opportunities.
Requirements and Qualifications:
- Bachelor’s degree in Real Estate, Business Administration, Finance, or a related field (preferred).
- 5+ years of property management experience, with demonstrated responsibility over commercial and/or mixed-use portfolios (preferred – multi-family property management accepted).
- Strong financial acumen, including budgeting, forecasting, and NOI analysis.
- Proven experience with lease administration, CAM reconciliations, and vendor management.
- Knowledge of multi-state regulatory and compliance requirements.
- Proficiency with property management software, financial reporting tools, and Microsoft Office.
- CPM, RPA, or similar professional designation preferred.
Work Environment:
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