Asset Manager

Overview

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.

• 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…