Founded in 1989, our client is one of the largest privately held owners of industrial and office properties in the Carolinas. They have invested over $1.5B in real estate projects and developed and acquired in excess of 24.5M SF. Today they lease, own, or manage more than 10M SF of property throughout the Carolinas. Their primary focus is acquiring and developing well located industrial and urban infill office and mixed-use properties.
We are currently seeking a Property Manager to join our client’s growing team and assist in establishing a property management presence in the Raleigh-Durham market. This is an emerging market for our client which will require the candidate to capably work independently and remotely supported by the Charlotte office at the outset of employment. They plan to establish an office in the market in the next several months. The Property Manager’s primary responsibility will be the day-to-day management of the 1.5M SF industrial portfolio in the Raleigh market. Additionally, the role will assist with developing an operations team in the market and work alongside the Raleigh Market Leader as they grow their asset base through acquisitions and new development. The Property Manager will report to the Director of Asset and Property Management and will play a critical role within the organization. The ideal candidate must be attracted to a fast-paced environment where responsiveness and customer service are highly valued. The candidate should also be a problem solver who is highly analytical and decisive.
- Responsible for maintaining assigned properties in good order and condition by contracting and scheduling necessary repairs and maintenance.
- Establish and maintain tenant relationships. Answer tenant phone calls, emails, letters, and requests for information and repairs. Visit tenants when on-site. Refer tenants to vendors when appropriate.
- Negotiate all vendor contracts. Receive and review bids to ensure appropriate level of service and compare pricing points.
- Supervise all vendors, including scheduling work to be performed, verifying that all work was completed as per contract or agreement and within price structure agreed upon. Request Insurance Certificates.
- Prepare annual budgets for properties based on management agreements and instructions from owner’s representative. Prepare operating budget, capital budgets, escalations, and year-end projections.
- Prepare annual reconciliation of common area maintenance charges, insurance, and real estate taxes for each tenant account and secure payment from tenants.
- Review and approve monthly accounting reports for properties (General ledger package, vacancy report, miscellaneous reports requested by owner), focusing on ensuring that building operations are in line with the approved budget.
- Responsible for preparing all aspects of monthly and/or quarterly financial reports including variance explanations and forecasting.
- Coordinate Tenant Move-In (welcome letter, signage, keys, emergency procedures, etc.)
- Coordinate Tenant Move-Out (suite walk-through, security deposit, keys, cleaning, etc.).
- Review invoices for approval, coding, and compliance with budget.
- Approval of rent-up reports prior to monthly posting by accounting.
- Track utility and regular maintenance charges to ensure payment.
- Responsible for timely collection of all tenant charges. Track aged delinquency report, follow up on past due balances and follow lease protocol for default notices. Work with legal counsel to handle all steps of the eviction process when necessary.
- Assist as needed managing minor tenant upfits.
- Responsible for administrative activities such as completing lease paperwork including approving and accepting the Lease Abstract, maintaining property records, preparing routine reports, processing accounting data, and processing work orders.
- Assist as needed during lease negotiations and occasionally show space in absence of leasing agent.
- Assist in review and operational underwriting of potential assets identified for acquisition.
- Travel to Charlotte for key company meetings and events that occur monthly.
- Represent company to the community and network by participating in local real estate organizations such as BOMA and IREM.
EDUCATION, EXPERIENCE, AND CERTIFICATIONS:
- Bachelor’s degree required, Real Estate or related field preferred.
- A minimum of seven (7-10) years of experience managing commercial real estate. Experience in Office and Industrial product type is strongly preferred.
- Strong understanding of real estate operating and capital budgets, and property operations.
- Experience in budget preparation, financial reporting, and familiarity with budget systems such MRI is preferred.
- General understanding of commercial construction and experience managing minor tenant upfits.
- CPM and/or RPA designation, and current Real Estate License is desirable, but not required.
- Strong proficiency in Excel and MS Office suite.
CRITICAL CHARACTER TRAITS, SKILLS AND ABILITIES:
- Only individuals with the highest personal character will be considered. High integrity, a desire to pursue excellence, a strong work ethic, optimism, a strong desire to serve others, and a commitment to doing business the right way are prerequisites for consideration.
- A team player with outstanding verbal and written communication skills and an ability to build strong relationships with our internal stakeholders.
- Ability to multi-task, solve practical problems and deal with a variety of variables and situations.
- Ability to read, analyze, and interpret legal documents (leases, management agreements, etc.).