Real Estate Portfolio Manager

2 months ago

Alexandria, Virginia, United States Flat Fee Landlord Full time
Job Overview

Salary: $50,000 - $60,000

Position Title: Property Manager

Department: Property Management

Reports To: Operations Leader

Location: Remote or Field-Based

*A valid Virginia real estate license is mandatory; additional licenses in neighboring states are preferred.

Position Summary:

The Property Manager plays a crucial role in overseeing and managing a diverse portfolio of single-family rental properties. This position requires extensive fieldwork, including property evaluations, documentation of conditions, preparing homes for leasing, and acting as the primary representative for the designated area. The Property Manager will also be responsible for the overall performance of their portfolio and will supervise a team, including an assistant property manager who manages various administrative functions.

Key Responsibilities:
  • Field Operations:
    • Conduct routine property evaluations to ensure adherence to lease agreements and property standards.
    • Document property conditions through detailed photography.
    • Prepare properties for leasing, coordinating necessary repairs and cleaning services.
    • Act as the main on-site representative, addressing tenant inquiries and ensuring satisfaction.
  • Leasing Activities:
    • Manage all leasing functions, including marketing available properties, conducting viewings, screening potential tenants, and finalizing lease agreements.
  • Management Oversight:
    • Supervise the assistant property manager responsible for daily maintenance coordination, managing delinquencies, and lease renewals.
    • Ensure staff training and performance objectives are met.
    • Step in to fulfill tasks as necessary to uphold high operational standards.
  • Financial Oversight:
    • Monitor income and expenses to optimize profitability.
    • Prepare financial summaries for the Operations Leader and senior management.
    • Possess basic accounting knowledge to address tenant issues and landlord communications.
  • Team Collaboration:
    • Work closely with maintenance vendors, the property management team, and other departments to ensure seamless operations.
    • Engage in regular team meetings to provide updates on portfolio performance.
  • Documentation and Reporting:
    • Maintain accurate records of property operations, tenant interactions, and financial transactions.
    • Prepare regular performance reports and suggest areas for improvement.
  • Travel Requirements:
    • Willingness to travel for meetings, training, and industry events as needed.
  • Licensing:
    • Maintain an active real estate license for the area serviced.
    • Permit the company's brokerage to hold the real estate license.
  • Additional Requirements:
    • Possess a reliable vehicle.
    • Have a smartphone for operational tasks.
    • Exhibit strong organizational skills and attention to detail.
    • Adaptability to a fast-paced work environment.
    • Availability for weekend work.
Qualifications:
  • Degree or certifications in Property Management, Real Estate, Business Administration, or a related field.
  • At least 3 years of experience in property management, particularly with single-family rentals.
  • Strong understanding of local housing regulations.
  • Exceptional communication and interpersonal skills.
  • Proficient in software tools such as AppFolio, Zinspector, Google Workspace, and Microsoft Office Suite.
  • Ability to work independently and manage multiple priorities effectively.
  • Willingness to spend a significant portion of time in the field.
  • Active real estate license for the relevant area.
  • Basic accounting knowledge and ability to read financial ledgers.
Compensation and Benefits:

Base Salary: $50,000 - $60,000 annually (commensurate with experience and qualifications)

Total Compensation: Including commissions and bonuses, total annual compensation may range from $55,000 to $75,000.

Vehicle Compensation: Monthly vehicle allowance ranging from $250 to $550.

Benefits Include:
  • Health and dental insurance
  • Paid time off (PTO) and holidays
  • Opportunities for professional development
  • Reimbursement for qualifying real estate dues and subscriptions based on performance and tenure
Performance Metrics:
  • Occupancy Rates: Maintain high occupancy levels within the portfolio.
  • Leasing Success: Effectively lease vacant properties.
  • Portfolio Expansion: Grow the portfolio with new properties.
  • Tenant Retention: Achieve high rates of tenant retention.
  • Delinquency Management: Keep delinquency rates minimal.
  • Revenue Maximization: Enhance rental income and other revenue streams.
Career Advancement:

Potential for growth into roles such as Senior Field Director, Regional Manager, or other leadership positions within the property management sector.

Diversity Commitment:

At Flat Fee Landlord, we are committed to promoting a diverse and inclusive workplace. We value the unique perspectives and experiences of all individuals, believing that diversity drives innovation and success. We strive to cultivate a culture where every team member feels valued, respected, and empowered.

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