Property Manager - Commercial Real Estate

Commercial Real Estate - Property Manager Job Description

About Us:

Shin Yen is a premier commercial real estate company with an extensive portfolio of properties in diverse regions. Our unwavering commitment to delivering outstanding services in property management, leasing, and investment has fueled our active expansion. In line with our growth, we are actively looking for experienced, detail-oriented individuals to join our team and contribute to our continued success.

Job Overview:

The Property Manager will be responsible for managing, directing, and coordinating operations for the assigned assets and ensuring Ownership and Property Management objectives are met. The Property Manager is accountable for protecting, maintaining, and enhancing the value of assigned assets in cooperation with the objectives set forth by the Portfolio Property Manager, achieving results through supervision of the Assistant Property Manager and vendors, and positively representing Ownership in Tenant, Vendor, and Broker relationships.

ESSENTIAL FUNCTIONS:

Primary responsibility is to direct and coordinate the various operational activities of the assigned assets, including the direction of the day-to-day activities of the Assistant Property Manager and site vendors. This shall include but not be limited to, the following points listed below.

Property Management:

• Oversee the daily operations of commercial properties, ensuring they are well-maintained and meet the needs of tenants.
• Coordinate and manage maintenance, repairs, and renovations, ensuring timely completion and quality standards.
• Conduct regular property inspections to identify issues and implement corrective actions.
• Contract with outside vendors, develop scope of work documents for contracted services, competitively bid services including regular re-bidding of recurring services. Monitor contractor performance and ensure contract compliance. Submit all contracted work proposals to the Portfolio Property Manager for approval.

Tenant Relations:

• Serve as the primary point of contact for tenants, addressing inquiries, concerns, and service requests promptly.
• Foster positive tenant relations and ensure high levels of tenant satisfaction. Manage tenant move-ins and move-outs, ensuring a smooth transition process.

Lease Administration:

• Be involved, as directed, for the assets and ensure that revenue goals are met or exceeded as outlined in the operating budget. Regularly monitor that all vacant space is cleaned, inside and out, with access always available to Brokers, and is in pristine condition for Broker showings.
• Administer lease agreements, ensuring compliance with terms and conditions.
• Handle lease renewals, amendments, and terminations as needed.
• Maintain accurate lease files and records.
• Ensure tenant compliance with all lease terms. Review all leases and track priority sections regarding co-tenancy, kick-out clauses, exclusive use clauses, and NNN caps.

Financial Management:

• Prepare and manage property budgets, monitor expenses, and ensure financial performance meets targets.
• Oversee rent collection, including timely invoicing and follow-up on delinquent accounts.
• Prepare financial reports, including income statements, balance sheets, and variance reports.
• Preparation and timely submission to ownership of monthly reports and other periodic reports, in a format and on a schedule determined by the ownership.

Vendor Management:

• Select, negotiate, and manage contracts with vendors and service providers.
• Monitor vendor performance and ensure services are delivered as agreed.
• Approve invoices and manage payments to vendors.
• Proactive Problem Solving - Exhibit a creative and innovative approach to solving problems and resolving issues. Proactively seek opportunities to improve the operational and financial performance of the asset.

Regulatory Compliance:

• Ensure properties comply with local, state, and federal regulations, including health and safety standards.
• Maintain up-to-date knowledge of property management laws and regulations.
• Implement and enforce company policies and procedures.

Marketing and Leasing:

• Assist with marketing and leasing efforts to attract new tenants and retain existing ones.
• Collaborate with leasing agents and brokers to negotiate lease terms and close deals.

Reporting and Documentation:

• Support all direct reports. Regularly provide real-time feedback. Hold weekly team meetings, if approved by the Portfolio Property Manager, as well as regular one-on-one meetings with direct reports. Partner with Human Resources to provide training and learning opportunities to increase team member skills and engagement, if requested by Human Resources
• Prepare and present regular reports on property performance, occupancy rates, and operational issues.
• Maintain accurate and organized records of all property-related activities and transactions.

Business Plan Execution:

• Work with the Portfolio Property Manager and Property Management Team to ensure the successful development and execution of the annual business plan. In the capacity directed, oversee the implementation of major Capital Expenditures, project timelines, cost controls, budget review and approvals, as well as proactive management of the site operations, tenant responsibilities per Lease, and associated revenue generation initiatives to meet or exceed the business plan objectives.

Financial Obligations:

• Overall responsibility for all financial functions relating to the property operations including but not limited to budgeting, including annual development and execution of operating budgets; re-forecasting; and detailed variance reporting, expense monitoring and cost control implementation, in conjunction with the Management Team - revenue enhancement and overall asset profitability to meet or exceed budgeted Net Operating Income. Oversee and ensure the timely collection of all billed rental charges; oversee A/P functions, as directed by the Controller and Portfolio Property Manager, to ensure that all bills are paid timely; submit to Portfolio Property Manager any rent relief and/or proposed settlements with tenants in a prompt and judicious manner.

Communication:

• Demonstrate excellent communication skills in both verbal and written interactions with all internal and external parties. Develop and maintain strong relationships with all internal teams as well as tenants, partners, and vendors, and if directed, local government, and community representatives etc.

Development:

• Partner with the Property Management team on any development activities planned for the assets to meet stated objectives and ensure a smooth transition from development to operations.

Marketing:

• To be involved as directed, which may include oversight of the marketing activities for the assets, including digital and print advertising, special events, social media presence, signage, etc. Ensure effective outreach and engagement to increase consumer traffic and tenant/customer satisfaction. Regularly perform tenant and customer surveys to ensure high levels of performance and satisfaction, if directed by the Property Management Director.

Risk Assessment:

• Immediately advise Portfolio Property Manager of any foreseen or observed challenges to business plan initiatives or conditions at the site, whether physical or relating to Tenant/Vendor relations, which may require intervention.
• Communicate issues to the Portfolio Property Manager that may place the asset or results at risk, with recommendations to address identified challenges.
• Ensure all tenants and vendors are in compliance with contractual insurance obligations; promptly forward all insurance claims to the Portfolio Property Manager. Regularly monitor the assets for physical defects to mitigate insurance claims; oversee and direct the security program for the asset; oversee life/safety policies, procedures, and training; ensure employee/contracted service vendor safety protocols are implemented and adhered to; address all issues promptly to ensure a safe, healthy environment for tenants, customers, and stakeholders.
• Implement a comprehensive preventative maintenance program for the asset to present to the Portfolio Property Manager for approval; provide regular tenant and employee training sessions on operational protocols.
• Maintain accurate and current Property Profile data spreadsheets.

SUPERVISORY RESPONSIBILITIES:

• Hire, train, and supervise on-site property management team personnel, if directed. Team members may include Assistant Property Administrator, Marketing staff, Specialty Leasing staff, Property Coordinator, Building Engineers, or Maintenance personnel etc.
• Maintain a positive relationship with all corporate support departments.
• Provide objectives, evaluate performance, and give interim and annual performance reviews of direct reports, if directed.
• Carry out supervisory responsibilities in accordance with the organization’s policies and applicable laws.
• Responsibilities may also include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance, rewarding, counseling, and disciplining employees; and addressing complaints and resolving problems.
• Exhibit passion and commitment to their own personal and professional development as well as that of their colleagues.

EDUCATION/EXPERIENCE REQUIREMENTS:

• Bachelor's degree in real estate, business, finance, or a related field.
• 5-10 years of experience in property management in the commercial real estate industry. Retail experience is highly preferred.
• California Real Estate license. Industry certifications (i.e., IREM, BOMA, CCIM, ICSC) preferred.