Wakefield, MA (remote work option)
Our client is a third-party property management firm responsible for operations of commercial properties across greater Boston on behalf of a variety of ownership entities. The firm prioritizes strong client and tenant relationships and a culture that results in a long-term employee base.
Reporting directly to the President, the Portfolio Manager will oversee a multi-building portfolio of commercial assets. The PM will work to maximize the return on investment dollars, maintain effective operations, and ensure the properties run at the established levels of protection, care and maintenance.
ESSENTIAL JOB FUNCTIONS:
- Maintain strong client relationships and ensure portfolio strategy is executed at the property level.
- Bid and negotiate individual maintenance agreements (i.e. parking lot cleaning, landscaping, etc.)
- Review and approve expense on ongoing invoices
- Prepare annual operating budgets
- Work closely with construction management during tenant fit-up and building capital improvement projects
- Maintain operating expenses within budgeted annual allowances
- Inspect assigned properties in accordance with company procedures
- Identify physical improvements and deficiencies and correct them in accordance with budget guidelines and established property standards
- Interface with tenants, vendors, leasing, and construction departments, third party contractors and senior management to ensure effective property operation
- Work with accounting team to manage base rent, recoverable expenses, and percentage rent in accordance with lease agreements. Follow up on late rent payments. Issue late notices, negotiate payment plans with delinquent tenants, and initiate collection proceedings as needed
- Obtain and track tenant gross sales and insurance information, property information sheets, site plans, roof inventory spreadsheets, etc.
- Partner with Asset Management to implement and uphold the vision for the property.
- Motivate team members and contractors by reinforcing the vision and business goals for the property.
- Observe and appraise employee performance and conduct. Establish metrics, monitor progress, and provide feedback on team and individual goals.
- Manage resources: contain expenses, allocate workload, schedule and prioritize work.
- Negotiate or support negotiation of leases, license agreements, contracts, and amendments, including those of the realty team and outside brokers.
- Oversee or support the construction of tenant improvements performed in-house or by the tenant’s contractors.
- Coordinate with and provide support to new tenants.
- Ensure tenant adherence to lease obligations. See to the timeliness of communications such as tenant advisories, cure letters, demand notices, and default notices.
- Keep track of feedback from tenants. Attain good ratings in tenant satisfaction surveys and follow up imperfections with responsive action plans.
- Operate the property in a first-class manner. See to it that service to tenants is prompt and responsive and that issues are effectively resolved.
- Maintain outstanding property appearance.
- Oversee engineering teams to ensure the building and its core operating systems are preserved and protected by effective preventive maintenance plans and programs.
- Oversee work and implement controls to ensure effective contractor performance, safety, and compliance with contract terms and property rules.
- Administer environmental policy, procedures, and initiatives.
- Project needs for capital improvements. Monitor and manage capital expenses. Solicit and analyze proposals for capital projects as directed by supervisor, Asset Management, and published policy.
- Make certain comprehensive plans are in place to instruct tenants and the property management team on how to prepare for and respond to emergencies of all types. Periodically check to see that emergency action plans are current.
- Minimize the risk of exposure to liability by enforcing compliance with guidelines, regulations, and policies. Identify and deal with safety hazards.
- Work with creative and marketing team members on tenant services and tenant retention.
- Ensure sales support programs are in place for retail and entertainment tenants. Monitor and strategize to achieve sales performance goals and reporting as required by published policy..
- Oversee, support, and coordinate special events, including those planned or conducted by third parties.
- Prepare the budget with meticulous attention. Take measures to prevent avoidable variances.
- Ensure the monthly financial package is completed on time.
- Review financial reports, forecast expenses, and alert Asset Management to any significant budget variances or trends.
- Collaborate with other departments as needed to manage property and team needs.
- Fulfill other job-related duties as assigned.
- Bachelor’s degree in business, finance, or other relevant field of study.
- Minimum five years of experience as a Property Manager of office or mixed-use properties.
- Strong understanding of financial objectives including preparing annual operating and capital budgets, collecting rents, paying bills, forecasting, analyzing variances and initiating corrective action.
- Demonstrated success with construction management, including both tenant interiors and capital project work.
- Demonstrated ability as a leader and manager.
- In-depth knowledge of property operations, risk management, fiduciary duty, life safety, financial management, lease administration, community and government relations, service contracts, and tenant construction.