Area Manager- Apartments, Multifamily

Job Description

Job Description

Redwood Residential, LLC, founded in 2017, serves as a leading-edge, fully integrated property management platform with a focus on multifamily communities across the United States.

Redwood Residential, LLC is a wholly owned subsidiary of EQT Real Estate which itself is a subsidiary of EQT AB (“EQT”). EQT is one of the largest private equity firms in the world with approximately $225 billion of assets under management (as of 30 June 2023). EQT operate across three defined business segments : Private Capital (Private Equity, Ventures, Growth and Public Value), Infrastructure and Real Estate. EQT Real Estate, is one of the world’s largest and most consistently high-performing real estate investment managers, focused on Industrial, Office, Life Sciences, and Multifamily with over $30B of assets under management.

Job Summary :

The Area Manager manages the day-to-day operations of an assigned portfolio of between 2 and 4 properties including managing all on-site team members, daily activities, and resources of the portfolio to achieve established budgeted financial and operational goals. Requires high level coordination between Redwood Residential site team members and connection to Redwood Residential corporate team members and support staff, including, but not limited to Asset Management, Accounting, Human Resources, Information Technology, Database and Software Coordinators and Service Providers, Investment and Capital Markets, Marketing and Leasing Departments, Construction Management, Partners, Owners, and Clients of the firm, etc. Ensures the operation of the portfolio complies with Company policies and procedures, Fair Housing, Americans with Disabilities Act, Fair Credit Reporting Act, and other laws and regulations governing multi-family housing operations.

Duties and Responsibilities :

• Development of and adherence to operating budget(s) for properties within the portfolio by analyzing and evaluating financial statements, reviewing current and projected marketing information, and accessing operational reports that establish historic and predict performance patterns.
• Meet targeted revenues by assisting with rent rates, ensuring all rent and fees are collected and posted in a timely manner and overseeing the timely preparation and review of monthly financial reports.
• Present and discuss financial and operational results and strategies in various oral and written formats.
• Review and approve invoices, ensuring they are properly coded and presented in a timely manner to facilitate accurate accounting practices.
• Regulate and control properties’ expenses by working closely with Property Managers, Operations Director and Asset Managers to ensure financial health of the portfolio.
• Supervise and oversee the lease process ensuring properties within the portfolio abide by the highest industry and Redwood standards including, but not limited to proper approval of prospective resident applications, renewal and lease expiration management, turn and inspection management, etc.
• Assembles, evaluates, and interprets portfolio market and economic trends that may impact sites, and implements short- and long- range marketing and leasing strategies to achieve the property’s occupancy and revenue goals.
• Supports the on-site teams in promoting resident satisfaction and retention by responding to elevated complaints, questions, and requests in a timely manner, and taking appropriate action to resolve and address issues.
• Ensures the properties’ management and maintenance team members comply with Redwood Residential’s standards with respect to responding to and completing resident service requests.
• Works with marketing department and on-site teams to ensure social media and digital assets are current and relevant, and that marketing action plans are executed.
• Conducts quarterly property inspections and takes appropriate actions to ensure that the physical aspects of the property, grounds, buildings, and amenities meet established standards for safety, cleanliness, and general appearance and appeal.
• Supervises portfolio team members by interviewing, hiring, orienting, and training employees, and manages their performance in accordance with Company policies, values, and business practices.
• Assists in managing the ownership and partner(s) relationships by meeting with the owners, conducting property tours, providing updates and information about portfolio performance, and responding to owner requests as needed.
• Completes various accounting, financial, administrative, and other reports and performs other duties as assigned or as necessary. Ensures all Property Management software programs are utilized efficiently to meet Company goals for standards and achieving operational excellence.
• Follows established policies and procedures by monitoring and ensuring compliance with regulatory requirements, organizational standards, and operational processes related to portfolio operations, and reporting violations or infractions to appropriate individual(s). Suggests and assist with creation of new policy as needed.
• Practices proper safety techniques in accordance with Redwood Residential, property, and policies, procedures, and standards by immediately reporting any mechanical or electrical equipment malfunctions, employee / visitor / resident injuries or accidents, or other safety issues to appropriate individual(s).
• Identifies areas for improvement and offers suggestions to improve the efficiency, productivity, and profitability of the portfolio.
• Keeps well-informed on trends and changes in the industry and area(s) of responsibility by attending internal and external training classes, apartment association meetings, and other events, and accessing other information sources.
• Maintains membership in local Apartment Associations, within portfolio. Works with Property Managers to encourage B2B relationships to benefit sites and nationwide portfolio.

Working Environment :

Physical Demands :

Qualifications :

Required Licenses and / or Certifications :

Portfolio : 2-4 assets

3-6 direct reports

Redwood Residential is an Equal Opportunity Employer.

Redwood Residential is committed to diversity and inclusion in property management. We believe that embracing different perspectives and experiences is essential for delivering top-quality service. We encourage candidates to apply and join us in this effort.

Successful completion of a pre-employment screenings are required for all qualified applicants.