CIM Group, LP
Property Manager (Residential)
CIM Group, LP, Los Angeles, California, United States, 90079
CIM is a community-focused real estate and infrastructure owner, operator, lender, and developer. Our team of experts works together to identify and create value in real assets, benefiting the communities in which we invest. Back in 1994, our three founders focused on projects in Southern California neighborhoods. Today, we are a diverse team of 1,000+ employees with projects across the Americas. Our projects have delivered jobs; created comfortable places to live, work, and relax; and provided necessary and sustainable infrastructure. Our focus on enhancing communities is unwavering, and we strive to make an even greater impact in the years to come. Join us and make an impact today!POSITION PURPOSE:The Residential Property Manager is responsible for the day-to-day management and operations of the property. Responsibilities include, but are not limited to, leading the on-site team, oversight of daily activities, residential satisfaction and excellence in customer service, achieving budgeted financial goals, and maintaining a best-in-class appearance of the property. This position will set goals to integrate leasing, property management, building maintenance, and resident retention activities that positively impact the overall success of the property. Annually draft a budget and business plan for review and approval. Additionally, they will manage to the property’s approved budget with an emphasis on timely rent collection, meeting monthly leasing goals, resident retention, expense and revenue management, and vendor supervision.
ESSENTIAL FUNCTIONS:
Assign tasks on a monthly basis to ensure timely completion of supporting tasks like turnover repairs in sync with leasing, marketing plan supporting the lease program, and preventive maintenance tasks to avoid disruptions or additional costs.Confirm building amenities pricing set by the Leasing Associate is accurate by shopping property(s)’ defined competition or peer group and using mystery shoppers and/or other market research firms like Kingsley.Responsible for knowing and understanding the market of assigned property(s)’ similar peer group. Keep informed about new developments or redevelopments within the market and be able to discuss how these will impact CIM’s residential properties. Build relationships with local business organizations or organizations like BOMA to gain additional market information.Approve all recommended concessions based on current market conditions or limitations imposed by the unit larger than similar product types within the peer group.Seek Investment Lead and/or Oversight Principal’s approval at the beginning of each calendar year for a pricing matrix (“Unit Pricing Matrix”) for each unit, including renewals, and ensure the Leasing Associate updates this matrix on a weekly/monthly basis (as required) to maximize market rent and occupancy.Work closely with the Leasing Associate to ensure all renewals or new leases meet or exceed the approved Unit Pricing and all units that are more than 5% from the approved Unit Pricing Matrix are pre-approved by the Investment Lead.Track and push the marketing plan traffic goals to ensure adequate traffic and closing ratios for both new and existing leases using a monthly scorecard to project occupancy five weeks out.Ensure all residential leases are executed in accordance with CIM Group stated policies and procedures (within 2 business days). Verify on a monthly basis the accuracy of the property(s)’ (a) rent roll, (b) occupancy status, (c) lease charges, (d) lessee’s match actual resident’s name and (e) term.Track actual collection of rent to ensure timely payment and to avoid excessive delinquent rent balances so that the property is no more than 30 days behind on any residential lease unless there’s a pending eviction.Ensure lease terms are correct before all residential leases are executed by any resident and accept no resident’s changes to the CIM Group lease form without prior corporate approval. All supporting addendums must also be executed by the residents as set forth by each property’s standardized lease form.Ensure all building operating systems such as elevators, boilers, and central plant cooling systems are (as required) placed on corporate approved preventive maintenance agreements.Work closely with the immediate supervisor to create a monthly preventive maintenance calendar with the goal to use onsite maintenance technicians to maintain or complete most of the preventive maintenance work.Monitor and control the property(s)’ expenditures in accordance with approved budgets and be able to provide recommendations for deferring or capitalizing work as required. Seek to control operating expenses by enforcing scope of work, cap pricing increases, seeking group or regional bids and timely payment.Inspect the properties at a minimum of once a month to ensure the overall appearance, exterior lighting condition, cleanliness and maintenance of the property’s common areas with approved vendors and provide Corporate a monthly inspection report.Be able to provide annual budgeting and expense management along with monthly variance analysis and work closely with corporate to achieve all targeted leasing objectives, operating expense controls, and year-end NOI for each property.Maintain a first-class management office with centralized leasing files, vendor files, building files, and other as may be required. Ensure the management office is staffed appropriately at all times.Be able to provide operating expense and/or market rent analysis for new developments or acquisitions as required using comparable properties unit pricing for administration, repair and maintenance, janitorial, contracted services, utilities, bad debt, marketing expenses, and payroll.Establish standardized management practices for (i) emergencies, (ii) evictions, (iii) energy management, and (iv) tenant issues or complaints in accordance with stated CIM Group policies or as directed by corporate.Adhere to LAHD rent control or similar governmental agencies (as required) policies as well as Federal Fair Housing Act to avoid any discrimination or legal issues.EDUCATION/EXPERIENCE REQUIREMENTS:
Bachelor’s Degree preferred.Knowledgeable about general accounting practices as it relates to accrual-based accounting for creating an income statement to include reserving for bad debt.Three years prior experience working in a residential property manager capacity.Must possess a valid state-issued driver’s license.NON-ESSENTIAL FUNCTIONS:
Exhibit a confident, professional demeanor when interacting with visitors, residents, vendors, and corporate staff.Demonstrate commitment to a work schedule that ensures timely completion of all responsibilities.Must be detail-oriented, with the ability to multi-task and be well organized.SUPERVISORY RESPONSIBILITIES (if any):
Supervise on-site staff including administrative support employee(s), engineers, security, parking attendants, and other vendors. Plan, organize, and manage employee-focused activities including but not limited to:Compliance with all applicable employment laws as well as CIM Group employment policies and procedures.Facilitate employee development and training opportunities that promote maximum productivity and position the employee for increased responsibilities and job growth.Provide at a minimum once a year performance feedback/counseling along with as required, appropriate on-site job training and be able to address job performance deficiencies.Responsible for coordinating leasing coverage all days of the week including weekends.EDUCATION/EXPERIENCE REQUIREMENTS: (including certification, licenses, etc.)
Bachelor’s Degree or equivalent experience.Knowledgeable about general accounting practices as it relates to accrual-based accounting for creating an income statement to include reserving for bad debt.7-8 years prior experience working in a residential property manager capacity.Must possess a valid state-issued driver’s license.MS Office including Excel, Word, PowerPoint, and Outlook.Familiar with Nexus Payables or similar software applications.Familiar with Yardi or similar software applications.COMMUNICATION SKILL REQUIREMENTS:
Read and interpret documents such as office equipment maintenance and instruction manuals, company policies, and procedures documents.Ability to write correspondence and/or reports accurately in a concise and detailed manner.Ability to effectively present information to tenants, vendors, contractors, and other employees of the organization.Ability to read, analyze and interpret lease agreements, financial reports, and/or legal documents.Ability to respond to common inquiries or complaints from tenants, regulatory agencies, other areas of the company, and/or members of the business community.MATHEMATICAL SKILL REQUIREMENTS:
Ability to add, subtract, multiply, and divide.Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.Ability to calculate monthly and year-to-date financial variances.REASONING SKILL REQUIREMENTS:
Ability to apply common-sense understanding to carry out instructions.Ability to solve practical problems.Ability to define problems, collect data, establish facts and draw valid conclusions.TECHNICAL SKILL REQUIREMENTS:
MS Office including Excel, Word, PowerPoint, Outlook.Familiar with Nexus Payables or similar software application.Familiar with Yardi or similar software application.PERFORMANCE METRICS:
Performance of property measured by established proformas for the property(s) such as approved operating budget, leasing objectives, cost controls, and annual NOI.Performance of property staff.Feedback from tenant questionnaires and corporate surveys.What CIM offers:
CIM offers an enriched benefits program as well as a wide range of resources for eligible employees to thrive both inside and outside of work. Some of our benefits include:Medical, dental, and vision.Company-subsidized Health Savings Account.Company paid life & disability.Pre-tax savings accounts.401(k) match.Competitive vacation policy.Additional voluntary benefits.Paid time off for community service.Paid Parental Leave: Up to 12 weeks.Actual base salary considers several factors including but not limited to geography, job-related knowledge, experience, and budget. The start of the salary range is typically associated with the minimum experience required.At CIM, base pay is one part of the total compensation package. This role is eligible for bonus pay in addition to base salary. The anticipated base salary range for the position in Denver is $90,000-$105,000.CIM Group is committed to bringing together humans from different backgrounds and perspectives, providing employees with a safe and welcoming work environment free of discrimination and harassment. We strive to create a diverse & inclusive environment where everyone can thrive, feel a sense of belonging, and do impactful work together. As an equal opportunity employer, we prohibit any unlawful discrimination against a job applicant on the basis of their race, color, religion, gender, gender identity, gender expression, sexual orientation, national origin, family or parental status, disability*, age, veteran status, or any other status protected by the laws or regulations in the locations where we operate. We respect the laws enforced by the EEOC and are dedicated to going above and beyond in fostering diversity across our workplace.*Applicants with disabilities may be entitled to reasonable accommodation under the terms of the Americans with Disabilities Act and certain state or local laws. A reasonable accommodation is a change in the way things are normally done which will ensure an equal employment opportunity without imposing undue hardship on CIM Group. Please inform our Talent team if you need any assistance completing any forms or to otherwise participate in the application process.#LI-SP1
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ESSENTIAL FUNCTIONS:
Assign tasks on a monthly basis to ensure timely completion of supporting tasks like turnover repairs in sync with leasing, marketing plan supporting the lease program, and preventive maintenance tasks to avoid disruptions or additional costs.Confirm building amenities pricing set by the Leasing Associate is accurate by shopping property(s)’ defined competition or peer group and using mystery shoppers and/or other market research firms like Kingsley.Responsible for knowing and understanding the market of assigned property(s)’ similar peer group. Keep informed about new developments or redevelopments within the market and be able to discuss how these will impact CIM’s residential properties. Build relationships with local business organizations or organizations like BOMA to gain additional market information.Approve all recommended concessions based on current market conditions or limitations imposed by the unit larger than similar product types within the peer group.Seek Investment Lead and/or Oversight Principal’s approval at the beginning of each calendar year for a pricing matrix (“Unit Pricing Matrix”) for each unit, including renewals, and ensure the Leasing Associate updates this matrix on a weekly/monthly basis (as required) to maximize market rent and occupancy.Work closely with the Leasing Associate to ensure all renewals or new leases meet or exceed the approved Unit Pricing and all units that are more than 5% from the approved Unit Pricing Matrix are pre-approved by the Investment Lead.Track and push the marketing plan traffic goals to ensure adequate traffic and closing ratios for both new and existing leases using a monthly scorecard to project occupancy five weeks out.Ensure all residential leases are executed in accordance with CIM Group stated policies and procedures (within 2 business days). Verify on a monthly basis the accuracy of the property(s)’ (a) rent roll, (b) occupancy status, (c) lease charges, (d) lessee’s match actual resident’s name and (e) term.Track actual collection of rent to ensure timely payment and to avoid excessive delinquent rent balances so that the property is no more than 30 days behind on any residential lease unless there’s a pending eviction.Ensure lease terms are correct before all residential leases are executed by any resident and accept no resident’s changes to the CIM Group lease form without prior corporate approval. All supporting addendums must also be executed by the residents as set forth by each property’s standardized lease form.Ensure all building operating systems such as elevators, boilers, and central plant cooling systems are (as required) placed on corporate approved preventive maintenance agreements.Work closely with the immediate supervisor to create a monthly preventive maintenance calendar with the goal to use onsite maintenance technicians to maintain or complete most of the preventive maintenance work.Monitor and control the property(s)’ expenditures in accordance with approved budgets and be able to provide recommendations for deferring or capitalizing work as required. Seek to control operating expenses by enforcing scope of work, cap pricing increases, seeking group or regional bids and timely payment.Inspect the properties at a minimum of once a month to ensure the overall appearance, exterior lighting condition, cleanliness and maintenance of the property’s common areas with approved vendors and provide Corporate a monthly inspection report.Be able to provide annual budgeting and expense management along with monthly variance analysis and work closely with corporate to achieve all targeted leasing objectives, operating expense controls, and year-end NOI for each property.Maintain a first-class management office with centralized leasing files, vendor files, building files, and other as may be required. Ensure the management office is staffed appropriately at all times.Be able to provide operating expense and/or market rent analysis for new developments or acquisitions as required using comparable properties unit pricing for administration, repair and maintenance, janitorial, contracted services, utilities, bad debt, marketing expenses, and payroll.Establish standardized management practices for (i) emergencies, (ii) evictions, (iii) energy management, and (iv) tenant issues or complaints in accordance with stated CIM Group policies or as directed by corporate.Adhere to LAHD rent control or similar governmental agencies (as required) policies as well as Federal Fair Housing Act to avoid any discrimination or legal issues.EDUCATION/EXPERIENCE REQUIREMENTS:
Bachelor’s Degree preferred.Knowledgeable about general accounting practices as it relates to accrual-based accounting for creating an income statement to include reserving for bad debt.Three years prior experience working in a residential property manager capacity.Must possess a valid state-issued driver’s license.NON-ESSENTIAL FUNCTIONS:
Exhibit a confident, professional demeanor when interacting with visitors, residents, vendors, and corporate staff.Demonstrate commitment to a work schedule that ensures timely completion of all responsibilities.Must be detail-oriented, with the ability to multi-task and be well organized.SUPERVISORY RESPONSIBILITIES (if any):
Supervise on-site staff including administrative support employee(s), engineers, security, parking attendants, and other vendors. Plan, organize, and manage employee-focused activities including but not limited to:Compliance with all applicable employment laws as well as CIM Group employment policies and procedures.Facilitate employee development and training opportunities that promote maximum productivity and position the employee for increased responsibilities and job growth.Provide at a minimum once a year performance feedback/counseling along with as required, appropriate on-site job training and be able to address job performance deficiencies.Responsible for coordinating leasing coverage all days of the week including weekends.EDUCATION/EXPERIENCE REQUIREMENTS: (including certification, licenses, etc.)
Bachelor’s Degree or equivalent experience.Knowledgeable about general accounting practices as it relates to accrual-based accounting for creating an income statement to include reserving for bad debt.7-8 years prior experience working in a residential property manager capacity.Must possess a valid state-issued driver’s license.MS Office including Excel, Word, PowerPoint, and Outlook.Familiar with Nexus Payables or similar software applications.Familiar with Yardi or similar software applications.COMMUNICATION SKILL REQUIREMENTS:
Read and interpret documents such as office equipment maintenance and instruction manuals, company policies, and procedures documents.Ability to write correspondence and/or reports accurately in a concise and detailed manner.Ability to effectively present information to tenants, vendors, contractors, and other employees of the organization.Ability to read, analyze and interpret lease agreements, financial reports, and/or legal documents.Ability to respond to common inquiries or complaints from tenants, regulatory agencies, other areas of the company, and/or members of the business community.MATHEMATICAL SKILL REQUIREMENTS:
Ability to add, subtract, multiply, and divide.Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.Ability to calculate monthly and year-to-date financial variances.REASONING SKILL REQUIREMENTS:
Ability to apply common-sense understanding to carry out instructions.Ability to solve practical problems.Ability to define problems, collect data, establish facts and draw valid conclusions.TECHNICAL SKILL REQUIREMENTS:
MS Office including Excel, Word, PowerPoint, Outlook.Familiar with Nexus Payables or similar software application.Familiar with Yardi or similar software application.PERFORMANCE METRICS:
Performance of property measured by established proformas for the property(s) such as approved operating budget, leasing objectives, cost controls, and annual NOI.Performance of property staff.Feedback from tenant questionnaires and corporate surveys.What CIM offers:
CIM offers an enriched benefits program as well as a wide range of resources for eligible employees to thrive both inside and outside of work. Some of our benefits include:Medical, dental, and vision.Company-subsidized Health Savings Account.Company paid life & disability.Pre-tax savings accounts.401(k) match.Competitive vacation policy.Additional voluntary benefits.Paid time off for community service.Paid Parental Leave: Up to 12 weeks.Actual base salary considers several factors including but not limited to geography, job-related knowledge, experience, and budget. The start of the salary range is typically associated with the minimum experience required.At CIM, base pay is one part of the total compensation package. This role is eligible for bonus pay in addition to base salary. The anticipated base salary range for the position in Denver is $90,000-$105,000.CIM Group is committed to bringing together humans from different backgrounds and perspectives, providing employees with a safe and welcoming work environment free of discrimination and harassment. We strive to create a diverse & inclusive environment where everyone can thrive, feel a sense of belonging, and do impactful work together. As an equal opportunity employer, we prohibit any unlawful discrimination against a job applicant on the basis of their race, color, religion, gender, gender identity, gender expression, sexual orientation, national origin, family or parental status, disability*, age, veteran status, or any other status protected by the laws or regulations in the locations where we operate. We respect the laws enforced by the EEOC and are dedicated to going above and beyond in fostering diversity across our workplace.*Applicants with disabilities may be entitled to reasonable accommodation under the terms of the Americans with Disabilities Act and certain state or local laws. A reasonable accommodation is a change in the way things are normally done which will ensure an equal employment opportunity without imposing undue hardship on CIM Group. Please inform our Talent team if you need any assistance completing any forms or to otherwise participate in the application process.#LI-SP1
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