Asset Manager

Position Summary

JRK is seeking a motivated Multifamily Asset Manager. The Asset Manager is responsible for all aspects of their assigned region, including the development and achievement of revenue, expense management, and other financial goals, while consistently providing customers, property managers, and community residents with the highest quality of service and support possible. This role regularly conducts effective property visits throughout the region/area to ensure that the Company and regional/area objectives are attained.

The Asset Manager is responsible for the tactical execution and communication of the company's strategic direction to our various communities. This position works closely with the Property Managers in their regions to ensure the implementation and execution of all corporate policies and procedures. It also involves overseeing the properties directly. This position is based in our West Los Angeles office and requires regular travel.

Responsibilities

Staffing and Employee Relations

• Hires, mentors, coaches, and develops Property Managers who share a passion for the company's goals.
• Leads efforts in recruiting by supporting and assisting Property Managers with management succession planning, hiring, training and staff development, maintaining high levels of performance and morale
• Meets with Property Managers regularly to review property operations and financial performance and ensure Property Managers know what is expected of them; with the joint effort of the Asset managers, evaluate property managers and their teams.
• Establishes and maintains open and effective communications with Property Managers and business partners, providing an "open door policy where management and employees are free to express their concerns and feelings without fear of retribution or ill will; provides regular and fair feedback to Property Managers and, when necessary, disciplines Property Managers consistent with disciplinary policies
• Properly executes Company performance and pay guidelines
• Maintains a thorough understanding of Company policies and procedures; ensures that all Property Managers understand and work to meet established goals and objectives
• Communicates regularly, accurately, and effectively with Company management, Community residents, government agencies, and corporate staff
• Conducted periodic work sessions for assistant managers, maintenance, and leasing personnel.
• Frequent travels to the properties in their region to ensure Property Managers are in cadence with Property objectives and performance

Manage Assets

• Achieve profitability objectives by effectively managing each asset, reducing costs and improving productivity.
• Maximize revenue from all properties, exceed company and regional financial goals, contribution, profit, and NOI budgets.
• Communicate and monitor progress toward achieving the asset's goals; if goals are not met, take necessary action to lower expenses.
• Provides leadership and assists Asset Managers in developing ways to maximize revenue, attain or exceed financial forecasts and control expenditures; analyze statements and variances from each property; review and submit property budget for approval
• Makes regional decisions and takes effective action to manage budgeted expenses in controllable areas of payroll, supplies, utilities, repairs, maintenance, and other miscellaneous items
• Analyze and approve expenditures in the $500 to $5,000 range, working closely with property managers to recommend maintenance and capital improvements within $5,000 limits.
• Support Asset Managers in negotiation with major vendors
• Routinely inspect each property to ensure compliance with Company standards; ensure that the highest levels of cleanliness, neatness and sanitation standards are met in all properties, including storage room areas, offices, and restrooms
• Ensures maintenance and repairs of all equipment, furniture, and fixtures within available financial resources.

Develop and Lead Local Marketing Efforts

• Collects and reviews monthly marketing surveys from business partners (Regional Leasing Consultants, Property Managers, and on-site Leasing Consultants)
• Provide the Property Manager with information concerning the greater market area; make necessary recommendations to improve the property image
• Formulate short and long-term rent programs and adjustments; approve any rental rate adjustments in conflict with budgeting objectives
• Review and approve quarterly marketing plans submitted by Regional Leasing Consultants; review advertising programs to ensure maximum cost-effectiveness
• Ensure Property Managers establish a leadership role in the community and surrounding trade area, including active participation in community service groups such as the local Chamber of Commerce, Rotary, etc.

Administrative Management

• Comply with company standards and local, State and Federal employment laws, including wage and hour, breaks, human rights, and equal employment opportunities
• Ensures that the Property Managers, Asset Managers, and other employees under their area supervision are following all Local, State and Federal employment laws, including wage and hour, breaks, human rights, and equal employment opportunities
• Conducts regular audits to maintain safe working conditions, per OSHA standards, for employees and residents, resolving safety concerns quickly; ensures Property Managers maintain a safety and loss prevention program to protect the Company
• Quickly and fully implements Company Senior, upper management, and corporate headquarters directives.
• Act as the liaison between upper management and on-site personnel
• Maintains good information flow between properties and legal counsel to avoid adverse legal consequences

Corporate Services

• Collects and reviews monthly marketing surveys from business partners (Regional Leasing Consultants, Property Managers, and on-site Leasing Consultants)
• Provide the Property Manager with information concerning the greater market area; make necessary recommendations to improve the property image
• Formulate short and long-term rent programs and adjustments; approve any rental rate adjustments in conflict with budgeting objectives
• Review and approve quarterly marketing plans submitted by Regional Leasing Consultants; review advertising programs to ensure maximum cost-effectiveness
• Ensure Property Managers establish a leadership role in the community and surrounding trade area, including active participation in community service groups such as the local Chamber of Commerce, Rotary, etc.
• Performs other related duties as assigned

Supervisory Responsibilities

Regional Managers, Area Managers and Property Managers within the assigned region; indirect oversight of all property staff within the assigned region

Required Skills and Abilities

• Excellent verbal and written communication skills with the ability to write and speak clearly and free of typos or grammatical mistakes
• Treats everyone with respect and dignity, accepts responsibility and takes ownership of tasks, follows through on commitments, and maintains confidentiality
• Excellent organizational skills and attention to detail, strong time management skills with a proven ability to meet goals and deadlines
• Ability to function well in a fast-paced, high-volume environment
• Proficient with Microsoft Office Suite or related software

Education and Experience

• A bachelor’s degree and a minimum of 3 years of experience as a regional manager or in asset management are required, preferably in the commercial multifamily sector
• Strong operational orientation with proven success in meeting Net Operating Income (NOI) goals
• Prior experience with capital projects is a plus
• Strong operational orientation with knowledge of general business and accounting concepts and practices
• Able to read and understand financial statements
• Proven success in meeting economic goals

Physical Requirements

• Expected work hours: 7:30 to 5:00, Monday through Friday, with occasional weekends and the ability to work hours that support business needs
• Travel: Frequent and regular business trips with overnight stays are required to various business locations and properties (traveling approximately 50% of the time); may need to drive a personal vehicle for business
• Work environment and physical demands: General office environment
• FLSA Status: Exempt

Please note that this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities required of the employee for this job. Duties, responsibilities, and activities may change at any time, with or without notice.

JRK Property Holdings is an Equal Opportunity Employer.

We will consider all qualified Applicants, including those with Criminal Histories, for employment in a manner consistent with the requirements of applicable state and local laws, including the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance.