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Property Manager
5 months ago
: Property Manager
**Reports to**: Regional Property Manager
**Department**: Property Management
**Supervises**: None
**FLSA Status**: Exempt
**Work location**: Multiple within the XXXX Portfolio (XX properties, XXX units)
**Core Hours**: 8:30 AM ? 5:30 PM
**JOB SUMMARY**:
Under the direction of Regional Property Management Executives, the Property Manager is responsible for excellent customer service in the daily management and coordination of all aspects of apartment community operations to include the maximization of cash flow; achievement of budgeted NOI; providing a quality living environment for residents; establishing a positive work environment for property team members; and leads by example in exhibiting attributes that support NOVO's code of ethics of professionalism by positively representing yourself and NOVO in written and verbal interactions with customers, clients, colleagues, and management.
The Property Manager duties vary depending on the size of the community from performing many functions personally to delegating and following up on most of the daily functions with the Assistant Property Manager, if applicable. The Property Manager lives and promotes the missions and values of NOVO.
**ESSENTIAL DUTIES AND RESPONSIBILITIES**:
**Financial**:
1. Responsible for achievement of net income, revenue growth, rent collection, and property financial performance compared to the annual operating budget.
2. Responsible for timely rent collection, minimizing delinquencies, banking activities with daily deposits, preparation of collection documents, personally contacting residents to collect overdue rent, collecting late charges, and make court appearances when necessary.
3. Responsible for all input and report functions that are designated by NOVO. This may include some of the following: accuracy and timely preparation of leasing activities, A/R cash receipts, statement of disposition, A/P invoices, monthly closing procedures, late fees, and renewals.
4. Develop cost saving strategies to reduce budgeted expenses including utilities, pool, landscaping, flooring, window coverings, turnover items, maintenance supplies, office supplies, payroll, resident activities and marketing programs.
5. Development of an annual operating budget and business plan.
6. Monitor all revenue transactions, check endorsements, no cash policy and daily deposit procedures.
7. Accurate and timely preparation of statement of security deposit, rent payment deposits, payroll documents, accounts payable and Profit and Loss Variance.
8. Reduce Bad Debt Loss by ensuring daily deposits, contacting residents to collect unpaid rent, collecting late charges, processing unlawful detainees & file evictions, preparation of collection documents, court appearances.
9. Analyze income and expenses, traffic, 30-60-90-120, (if applicable) lease expirations, market rents, delinquency financial statements, and make recommendations as needed (if applicable).
10. Recommend and monitor all capital improvements, deferred maintenance and upgrade programs.
11. Monitor and direct service operations to ensure turnover and make readies preventative maintenance tasks are completed and on schedule.
12. Review and analyze all bid summaries for purchase of goods and services per the contract process.
13. Ensure that all contracted services and materials are accounted for and that the work has been performed properly prior to the release of payment.
14. Daily review of collections and delinquencies. Process delinquencies according to policy.
15. Serve as property representative in court proceedings, understanding all property legal issues affecting residency, storage, abandonment, bankruptcy, fair housing and unlawful detainer/eviction actions.
16. Monitor and direct service operations to ensure vacant apartments are in market ready condition with a less than one week downtime for preparation of market ready apartments, and to be defined turn timeframe for upgrade units and ensure it would pass the â??white gloveâ?? test.
**Marketing (where applicable)**:
1. Monitor direction of rental activity and all on-site sales, marketing outreach, and advertising plans.
2. Maintain on-going, in-depth knowledge of associated market, market rents and demographics to give a competitive edge.
3. Monitor daily move-in/move-out reports; verify accuracy and completeness of lease packages, follow-up daily on all notices to vacate to determine reason for moving and the possibility of renewal. Ensure timely processing of move-outs.
4. Verify weekly traffic sources; follow up on customer status and closing ratios and implement programs and team development plans to improve results.
5. Evaluate team members to overcome barriers of reaching closing ratio and shopping report score goals and develop and implement corrective action plan.
6. Ensure all residents are on a current lease and that the lease expiration and rental increases are strictly adhered to.
7.
