General Manager (Residential)
Company: CIM
Location: Los Angeles
Posted on: October 2, 2024
Job Description:
ABOUT CIM GROUP:CIM is a community-focused real estate and
infrastructure owner, operator, lender, and developer. Our team of
experts works together to identify and create value in real assets,
benefiting the communities in which we invest. Back in 1994, our
three founders focused on projects in Southern California
neighborhoods. Today, we are a diverse team of 1,000+ employees
with projects across the Americas. Our projects have delivered
jobs; created comfortable places to live, work, and relax; and
provided necessary and sustainable infrastructure. Our focus on
enhancing communities is unwavering, and we strive to make an even
greater impact in the years to come. Join us and make an impact
today!POSITION PURPOSE:The General Manager (Residential) has
primary responsibility for overall day to day management and lease
up of the properties and for supervisory oversight of the property
management staff at the properties within a defined geographic
location.Responsibilities include directing on site staff,
contracted services and vendors to maintain a first class
appearance of the property(s), setting monthly goals to integrate
leasing, property management, building maintenance and lease
administration functions across the properties. Additionally, will
be expected to adhere to the properties' approved budgets with an
emphasis on timely rent collection, meeting monthly leasing goals,
receivable management, legal evictions and vendor
supervision.ESSENTIAL FUNCTIONS:
- Create a monthly framework for the Property Manager(s) to
ensure timely completion of property operations tasks - apartment
turns and renovations, financial reporting, associate review and
training, preventive maintenance.
- Confirm apartment pricing levels are consistent with current
market conditions. Use Yieldstar/LRO or other pricing methodology
to set pricing which meets investment requirements and drives
consistent leasing activity.
- Keeps abreast of new development or redevelopments within the
market and be able to discuss how they will impact CIM's
residential properties.
- Builds relationships with local trade organizations to gain
more market information.
- Approves all recommended concessions based on current market
conditions.
- Seeks Owner approval at the beginning of each calendar year on
a pricing matrix ("Unit Pricing Matrix") for each unit including
renewals and ensures the Leasing Associate updates this matrix on a
weekly/monthly basis (as required) to maximize market rent and
occupancy.
- Works closely with the Property Manager(s) to set renewal
rates. Sets the retention expectation per month and supports the
Property Manager(s) efforts to achieve the goal.
- Works with Property Manager(s) to develop the annual Business
Plan including traffic and occupancy goals. Revenue goals and
Expense parameters.
- Ensures all residential leases are executed in accordance with
CIM Group stated policies and procedures (within 2 business days).
Verify on a monthly basis the accuracy of the properties' (a) rent
roll, (b) occupancy status, (c) lease charges, (d) leases match
actual resident's name and (e) term.
- Tracks actual collection of rent to ensure timely payment and
to avoid excessive delinquent rent balances so that we are not more
than 30 days behind on residential lease unless we are seeking an
eviction.
- Where applicable - ensures commercial lease terms are correct
before leases are executed and accept no changes to the CIM Group
lease form without corporate approval.
- Ensures all building operating systems such as elevators,
boilers, central plant cooling systems are (as required) placed on
corporate approved preventive maintenance agreement.
- Works closely with the Regional 1st VP/VP, Property Management
to create a monthly preventive maintenance calendar with the goal
to use the onsite maintenance technicians to maintain or complete
some of the preventive maintenance work.
- Monitors and controls the properties' expenditures in
accordance with approved budgets and be able to provide
recommendations for deferring or capitalizing work as required.
Seek to control operating expenses by enforcing scope of work, cap
pricing increases, seeking group or regional bids and timely
payment.
- Inspects the properties at a minimum of once a month to ensure
the overall appearance, exterior lighting condition, cleanliness
and maintenance of the property's common areas with your vendors
and provide Corporate a monthly inspection report.
- Provides annual budgeting and expense management along with
monthly variance analysis and work closely with Regional VP/1st VP,
Property Management to achieve all targeted leasing objectives,
operating expense controls and year end NOI for each property.
- Where necessary, provides operating expense and/or market rent
analysis for new developments or acquisitions as required using
comparable properties unit pricing for admin, RM, janitorial,
contracted services, utilities, bad debt, marketing expenses and
payroll.
- Establishes and maintains standardized management practices for
(i) emergencies, (ii) evictions, (iii) energy management, and (iv)
tenant issues orcomplaints in accordance with stated CIM Group
polices or as directed by corporate.
- Adheres to regional rent control (if applicable) or similar
governmental agencies (as required) polices as well as Federal Fair
Housing Act to avoid any discrimination or legal
issues.NON-ESSENTIAL FUNCTIONS:
- Must be comfortable meeting with residents, vendors and
corporate staff.
- Team player who is committed to getting the job done might have
to work on weekends (as required).
- Must be detailed oriented, ability to multi-task and very
organized.SUPERVISORY RESPONSIBILITIES:
- Provides supervisory oversight of all on site staff including
administrative support employee(s), engineers, security, parking
attendants and other vendors.
- Plan, organize, and manage employee focused activities
including but not limited to:
- Compliance with all applicable employment laws as well as CIM
Group employment policies and procedures
- Facilitate employee development and training opportunities that
promote maximum productivity and position the employee for
increased responsibilities and job growth
- Provide at a minimum twice a year performance
feedback/counseling along with as required appropriate on site job
training and be able to address job performance fails to measure up
to standard.
- Has supervisory oversight of the Properties Managers at other
locations within a specific geographic area (as
necessary).EDUCATION/EXPERIENCE REQUIREMENTS:
- MS Office including Excel, Word, PowerPoint, Outlook
- Familiar with Nexus Payables or similar software
application.
- Familiar with Yardi or similar software application
- Bachelor's Degree preferred.
- Knowledgeable of general accounting practices as it relates to
accrual based accounting for creating an income statement to
include reserving for bad debt.
- Prior experience working in a high-volume, multi-building
residential property manager capacity.
- Proven ability if the position encompasses more than one
property to manage multiple residential assets equal to or greater
than the unit count for his position.
- Experience using Yardi, Entrata, Nexus, revenue management
systems for residential property management.
- Must possess a valid state-issued driver's
license.COMMUNICATION SKILL REQUIREMENTS:
- Excellent communication skills, both written and verbal.
- Read and interpret documents such as office equipment
maintenance and instruction manuals, company policies and
procedures documents.
- Ability to write correspondence and/or reports accurately in a
concise and detail manner.
- Ability to effectively present information to tenants, vendors,
contractors and other employees of the organization.
- Ability to read, analyze and interpret lease agreements,
financial reports and/or legal documents.
- Ability to respond to common inquiries or complaints from
tenants, regulatory agencies, other areas of the company, and/or
members of the business community.MATHEMATICAL SKILL REQUIREMENTS:
- Ability to add, subtract, multiply and divide.
- Ability to compute rate, ratio and percent and to draw and
interpret bar graphs.
- Ability to calculate figures and amounts such as discounts,
interest, commissions, proportions, percentages, area,
circumference and volume.
- Can calculate monthly and year to date financial variances.
REASONING SKILLS REQUIREMENTS:
- Ability to apply common-sense understanding to carry out
instructions.
- Possess strong analytical capabilities.
- Ability to solve practical problems.
- Ability to define problems, collect data, establish facts and
draw valid conclusions.TECHNICAL SKILLS REQUIREMENTS:
- MS Office including Excel, Word, PowerPoint, Outlook
- Familiar with Nexus Payables or similar software
application.
- Familiar with Yardi or similar software application.WHAT CIM
OFFERS:CIM offers an enriched benefits program as well as a wide
range of resources for eligible employees to thrive both inside and
outside of work. Some of our benefits include:--- Medical, dental,
and vision--- Company-subsidized Health Savings Account--- Company
paid life & disability--- Pre-tax savings accounts--- 401(k)
match--- Competitive vacation policy--- Additional voluntary
benefits--- Paid time off for community service--- Paid Parental
Leave: Up to 12 weeksActual base salary considers several factors,
including but not limited to geography, job-related knowledge,
experience, and budget. The start of the salary range is typically
associated with the minimum experience required. At CIM, base pay
is one part of the total compensation package. This role is
eligible for bonus pay in addition to base salary. The anticipated
base salary range for the position in Los Angeles, CA, is
$100,000-$140,000.HOW WE FEEL ABOUT DIVERSITY AND INCLUSION:CIM
Group is committed to bringing together humans from different
backgrounds and perspectives, providing employees with a safe and
welcoming work environment free of discrimination and harassment.
We strive to create a diverse & inclusive environment where
everyone can thrive, feel a sense of belonging, and do impactful
work together. As an equal opportunity employer, we prohibit any
unlawful discrimination against a job applicant on the basis of
their race, color, religion, gender, gender identity, gender
expression, sexual orientation, national origin, family or parental
status, disability*, age, veteran status, or any other status
protected by the laws or regulations in the locations where we
operate. We respect the laws enforced by the EEOC and are dedicated
to going above and beyond in fostering diversity across our
workplace.*Applicants with disabilities may be entitled to
reasonable accommodation under the terms of the Americans with
Disabilities Act and certain state or local laws. A reasonable
accommodation is a change in the way things are normally done which
will ensure an equal employment opportunity without imposing undue
hardship on CIM Group. Please inform our Talent team if you need
any assistance completing any forms or to otherwise participate in
the application process.#LI-KO1
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Keywords: CIM, Palmdale , General Manager (Residential), Executive , Los Angeles, California
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