What are the responsibilities and job description for the Managing Director, Real Estate position at Institute of Real Estate Management?

ABOUT GREYSTAR

Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates more than $290 billion of real estate in 247 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 857,400 units / beds globally, and has a robust institutional investment management platform comprised of more than $76 billion of assets under management, including over $34 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business.

JOB DESCRIPTION SUMMARY

Formulates and develops annual financial goals and business plans for one or more profit and loss centers that align to the Company's strategy related to property management, and leads and directs the team of property managers in executing initiatives and strategies that enable properties to meet and exceed budgeted financial and operational objectives.

JOB DESCRIPTION

Leads the process for formulating and developing the annual budgets for the assigned properties and portfolios comprising the markets and ensures that budgeted revenue, expense, and NOI objectives are achieved by analyzing and evaluating financial statements, reconciling monthly statements against approved budget, and identifying and correcting operational and financial performance.
Articulates and communicates the Company's standards for property and portfolio operation, and establishes programs, processes, and procedures to ensure compliance with the Company's operating procedures and policies, and applicable legal and regulatory agencies. Conducts audits, site visits, financial reviews, market analyses, and other investigative methods to evaluate the performance of the community portfolio and works with the property management teams to implement action plans that drive performance improvement.
Oversees the staffing needs of the assigned markets and portfolios, sets competency and candidate qualifications, and participates in the selection of key talent for the Regional Property Managers and other key leadership roles. Supervises the team of seasoned property managers by interviewing, hiring, training, and developing team members, and manages their performance in accordance with Company policies, values, and business practices.
Supports the growth and presence of the Company within the assigned markets by researching and developing new business opportunities, contacting and meeting with potential clients, preparing and presenting financial proposals, and overseeing the take-over and transition of new properties under management contracts.
Manages client retention and satisfaction by maintaining ongoing communication, providing detailed reports, market updates, and financial analysis on the performance of the portfolios, acting quickly and with urgency to address client concerns, questions, or requests, and reviewing and acting on client satisfaction survey results. Works with the Controller, property accountants, and others to ensure the timely production and reconciliation of financial data provided to clients.
Participates with the Company's senior leaders in routine market review discussions to examine the overall operational, financial and client satisfaction results for the communities within the markets, present and justify business plans, make asset management recommendations, and review growth projections.
Ensures compliance with the Company's policies and procedures related to selection and use of vendors, contractors, and other service providers by reviewing and approving proposed contracts, researching and communicating ongoing work quality and status, processing invoices, change-orders, and other statements of work, and ensuring open communication between consultants and Company project team members.
Completes various human resources, financial, administrative, and other reports and analysis, and performs other duties as assigned or as necessary.
Regular and routine travel may be required to conduct site inspections and community visits, attend business meetings and training classes, or for other situations necessary for the accomplishment of some or all of the daily responsibilities of this position.

Knowledge, Skills, Abilities :

Demonstrated ability to read, write, and communicate effectively to comprehend and complete legal, financial, and human resources documents, to create and make presentations to senior managers, clients / owners, team members, and others.

Demonstrated proficiency in word processing, spreadsheet, database management applications, and property management system (preferably Yardi or Real Page) in order to produce and complete required reports, financial statements, and employment documents.

Demonstrated mathematical skills necessary to add, subtract, multiply, and divide numbers, decimals, and fractions, and calculate percents in order to complete financial records, budgets, and other fiscal reporting information.

Seasoned leadership experience, particularly in supervising mid-level managers, and demonstrated supervisory skills sufficient to hire, develop, evaluate, and manage subordinate and peer team members.

Employment history that demonstrates progressively more responsibility and leadership, along with thorough knowledge and application of sales, marketing, and customer service strategies to drive customer satisfaction, execute complex business plans, and achieve operational and financial performance targets in diverse markets.

College degree in business, finance, real estate, management, or related field is preferred or commensurate experience in real estate and property management, preferably in a third-party environment. Industry designations such as CPM, CAPS, CAM also helpful.

The salary range for this position is $225,000 - $275,000.

Additional Compensation :

Corporate Positions : In addition to the base salary, this role may be eligible to participate in an annual bonus program based on individual and company performance.

Onsite Property Positions : In addition to the base salary, this role may be eligible to participate in weekly, monthly, and / or quarterly bonus programs.

Robust Benefits Offered

Competitive Medical, Dental, Vision, and Disability & Life insurance benefits. Low (free basic) employee Medical costs for employee-only coverage; costs discounted after 3 and 5 years of service.

Generous Paid Time off. All new hires start with 15 days of vacation, 4 personal days, 10 sick days, and 10 paid holidays. Plus your birthday off after 1 year of service! Additional vacation accrued with tenure.

For onsite team members, onsite housing discount at Greystar-managed communities are available subject to discount and unit availability.

6-Week Paid Sabbatical after 10 years of service (and every 5 years thereafter).

401(k) with Company Match up to 6% of pay after 6 months of service.

Paid Parental Leave and lifetime Fertility Benefit reimbursement up to $10,000 (includes adoption or surrogacy).

Employee Assistance Program.

Critical Illness, Accident, Hospital Indemnity, Pet Insurance and Legal Plans.

Charitable giving program and benefits.

Benefits offered for full-time employees. For Union and Prevailing Wage roles, compensation and benefits may vary from the listed information above due to Collective Bargaining Agreements and / or local governing authority.

Greystar will consider for employment qualified applicants with arrest and conviction records.

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Salary : $225,000 - $275,000

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