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Property Asset Manager - Renton
1133 Lake Washington Blvd N, Renton, WA Suite 90 Renton, Washington 98056-6458
*Direct Hire opportunity through Opti Staffing Group *
Oversee existing third party residential property managers and be responsible for driving the individual business plans, operations, and financial performance of portfolio assets to meet annual goals. The person will apply a proactive, hands-on management strategy to increase residential occupancy, maximize cash flow, and improve the overall economic property performance and ensure that the communities and staff employees operate in compliance with all governmental and lender regulations. The Asset Manager shall understand how each property fits into its competing marketplace and implement ways to maximize its advantages
ESSENTIAL DUTIES & RESPONSIBILITIES
• Establishes and maintains a professional working relationship with third party property management company and hotel operator.
• Conducts frequent meetings with property management company to monitor and improve rental revenue, occupancy level, controlled expenses, lease administration, and tenant satisfaction and retention are in place and compliant.
• Monitors residential property performance to operate at the highest economic occupancy and operate with the greatest cash flow. Recommend changes to operations and policies, if needed.
• Oversees the physical condition of properties to ensure the highest standards are maintained, evaluates maintenance, grounds, and general operations for compliance and efficiency.
• Supervises and reviews preparation of budgets for the properties
• Reviews and evaluate weekly/monthly reporting and provides comments and request revisions as necessary.
• Property expenses are reviewed frequently to ensure communities operate within budgetary guidelines and per management agreements. Evaluate cost efficiency of maintenance operations.
• Reviews and authorizes contract services, repairs, and supplies, and approves expenses that exceed onsite authority at each property.
• Review consultant/contractor invoices for accuracy against approved budgets and contracts.
• Works with Facilities Manager to oversee capital project progress and quality.
• Prepares financial models in Excel including cash flow projections and operating proformas.
• Responsible for long-term capital planning to include cyclical projects, renovation, and FF&E reserves.
• Conducts property-level due diligence including review of leases, property financial information, and third-party reports.
• Gathers and provides reports and documents for execution of property financings and recapitalizations.
• Assists in formulating long-term asset strategies.
• Works on special projects as assigned.
- Bachelor’ s Degree
- Minimum of 5 years’ experience in multi-family asset management or as a multi-property portfolio manager
- Current Washington State Brokers License preferred
Other required Knowledge, Skills, and Abilities
- Strong organizational, interpersonal and communication skills, and attention to detail
- Strong proofreading and editing abilities
- Thorough working knowledge of Microsoft Word, Excel, Power Point, Outlook and database software
- Professional conduct and exhibit genuine concern for residents and guests.
medical, dental, vision, life insurance, long-term and short-term disability, paid time off, and 401K with match.