SUMMARY
The Assistant Vice President of Property Management is responsible for providing leadership to Property Managers in support of the oversight of their respective properties. The AVP of Property Management’s team typically consists of 3-5 Senior Property Managers that will report directly to the AVP of Property Management and approximately 6-8 Property Managers and Property Administrators that will report indirectly to the AVP of Property Management. The AVP will have oversight of a portfolio totaling approximately 5,000,000+ rentable square feet and 700+ tenants. This position will require effective decision-making skills, successful guidance over a team and strong experience in real estate management. The AVP Property Management will lead the property management staff across the assigned portfolio to help support the asset strategies, manage operating expenses to achieve Net Operating Income (NOI) growth and maximize cash flow, plan, organize, and manage the activities of the assigned properties through the optimal utilization of resources to ensure a consistent high level of tenant satisfaction. The AVP Property Management is an experienced manager with the ability to manage a larger and more challenging portfolio as it relates to property management, with minimal guidance. This person should be an expert in building operations, policies, leadership and customer service.
KEY RESPONSIBILITIES
- Provide strong leadership and mentorship skills to the property management staff in a manner that motivates commitment and results. Develop and implement staff planning and development initiatives to meet the ongoing management/professional requirements as required to meet business needs. Ensure the optimal utilization of all resources to achieve property management goals and objectives across assigned portfolio. Recruit and develop property management professionals that support overall company plans.
- Establish and maintain strong working relationships with all hospital officials and tenants, and with the communities in which their portfolios reside. Direct/plan, organize and manage the activities of across assigned portfolio through the optimal utilization of resources to provide the consistent delivery of the Service Promise.
- Ensure the proper training, guidance and feedback is deployed to implement aggressive annual expense management and service contracting practices that drive property operating expense budgets to support achievement of Net Operating Income (NOI) growth targets, Common Area Maintenance (CAM) budgets and maximize cash flow. Direct operating expense projects and service agreements to meet budget and schedule.
- Follow and adhere to the Asset Strategy plans for assigned properties, to include recommendations on capital expenditures. Work with Property Managers to ensure they maintain a thorough understanding of the strategic direction of the asset and ensure the management of their assigned properties is consistent with this strategy.
- Maintain a strong working knowledge of all operations and financial policies, procedures, and systems. Ensure the implementation and ongoing training, utilization and compliance with all company policies, procedures and systems required for the effective property management of assigned properties.
- Ensure the timely completion of monthly and quarterly management reports that meet all required expectations, to include but not limited to, budget variance reports, reforecasts and income and expense reports with variances. Responsible for evaluating monthly financial results, identifying trends in financial performance, and presenting results to internal stakeholders.
- Responsible for the ongoing collection of tenant rents. Review and approve tenant delinquency report. Develop and implement proactive rent collection and delinquency management measures, promptly responding to any deviations from collection policy.
- Direct the implementation and maintenance of proper risk management practices to include consistent fulfillment of vendor insurance obligations, building life safety and security procedures, and implementation of incident/accident prevention measures and analysis required for the proper administration of all assigned properties.
- Assist in the due diligence and onboarding of new property acquisitions to include property inspections, review of due diligence material, communicating with seller’s property management, transitioning vendors, and ensuring transparent transition for tenants.
- Create practices leading to the procurement of products and services that optimize available economies of scale.
OTHER DUTIES
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of this employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
TRAVEL
30% travel is expected for this position.
COMPENSATION
Salaries may vary by location. The range for this role is $132,000 - $175,000 plus bonus. Salary determinations are made based on numerous factors, such as, but not limited to, the relevant market and the skill, experience, and education of the selected candidate.
MINIMUM REQUIREMENTS
Experience: A minimum of 7 years’ experience in property management, asset management, and/or leasing of commercial buildings. Medical Office Building experience is preferred but not required. Real estate license, CPM, CFM or RPA designation is preferred.
Education: Bachelor’s degree in business, real estate finance, or related field. MBA preferred.
Applicants must be able to pass a pre-employment drug screen.
WHAT WE OFFER
- Competitive Base Salary + Annual Bonus
- Generous Paid Time Off and Holidays
- Employer-matching 401(k) Program + Profit Sharing Program
- Student Debt Program – we’ll contribute up to $10,000 towards your student loans!
- Tuition Assistance Program
- Employee Stock Purchase Program – purchase shares at a 15% discount
- Comprehensive and progressive Medical/Dental/Vision options
- And much more!
ABOUT WELLTOWER
Welltower, an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health
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