What are the responsibilities and job description for the Business Manager position at PEM Residential?
About Company:
Joining PEM means becoming part of a dynamic team that sets the benchmark for excellence in property management. Whether you’re looking to grow in your career or contribute to thriving communities, PEM offers opportunities to work alongside industry leaders committed to service and success. Our supportive environment encourages professional development and rewards dedication, ensuring every team member plays a vital role in our continued success. If you’re passionate about making a difference and delivering exceptional service, PEM is the place to build a rewarding career in property management.
About the Role:
The Business Manager supports the Property Manager in overseeing essential aspects of property management, including move-ins, move-outs, lease renewals, marketing, resident retention, and financial reporting. This position plays a critical role in maintaining smooth day-to-day operations and ensuring compliance with company policies and local regulations. The Business Manager acts as a point of contact for residents, addressing concerns and ensuring satisfaction, while also assisting in managing financial performance through rent collection and budget oversight. In the absence of the Property Manager, the Business Manager may assume supervisory responsibilities for on-site staff.
Responsibilities:
-
Property Management:
- Accurately record all property activity, including move-ins, move-outs, lease renewals, notices, and new leases into the property management system (Yardi).
- Conduct move-in and move-out inspections, ensuring all processes are completed smoothly.
- Process security deposit accounting within five days of a resident’s move-out, preparing necessary documentation to facilitate refunds or charges.
- Perform weekly audits of prepaid rent.
- Develop and maintain an effective rent collection policy, adhering to local, state, and federal regulations.
- Prepare and deliver delinquency notices and file cases with attorneys as necessary.
- Ensure that any outstanding balances are pursued aggressively, filing delinquent accounts with the appropriate collection agency to minimize financial losses.
- Keep delinquency rates below 1% of billed revenue by actively pursuing outstanding balances.
- Provide daily updates of delinquency notes on the tracker to maintain accurate and timely records of payment status.
- Collaborate with property managers to resolve performance issues, contributing to revenue generation and occupancy goals.
- Assist in the month-end process, ensuring timely completion of all financial and operational tasks.
- Work closely with the accountant to review financials, reconcile accounts, and address any discrepancies.
Customer Relations:
- Address resident concerns promptly by investigating and resolving issues.
- Meet with new residents to explain their rights and responsibilities in detail.
- Organize and coordinate social programs or events aimed at enhancing resident satisfaction and retention.
- Conduct daily inspections of the property, identifying any areas of concern and ensuring timely resolution by working with the property manager and maintenance supervisor.
- Ensure model units are clean and presentable each day, maintaining an inviting atmosphere.
Marketing and Reporting:
- Assist with marketing analysis and strategy, drafting and implementing marketing plans as directed by the Community Manager.
- Prepare and submit all required reports (daily, weekly, or monthly), ensuring accuracy and timeliness.
- Maintain well-organized files of correspondence, documents, and unit maintenance records.
- Conduct biannual file audits (in January and July) and perform security deposit audits as needed.
Employee Relations:
- In the absence of the Property Manager, take on the daily supervision of property staff.
- Provides direct or indirect supervision for 1-3 employees, assisting in performance evaluations and development.
- Maintain accurate employee records, including attendance, performance evaluations, and corrective actions.
Compliance:
- Ensure knowledge of and adherence to Fair Housing laws. Complete required training and enforce these policies on-site.
Additional Duties:
- Perform other related duties as assigned.
- Driving continuous improvement through enhanced standardization of processes and practices.
