The Regional Property Manager reports directly to the Regional Vice President. The following list is a minimum pre-requisite to be considered for the position of Regional Property Manager:
EDUCATION: A high school education or equivalent is required (college degree preferred)
- Experience in on-site property management
- Proficiency in math
- Proficiency in verbal/written communication
- College degree preferred
- Valid driver’s license and vehicle
- Proficiency in computer and project management software
- Certification/designation (or willingness to achieve certification/designation) from real estate associations, such as Institute of Real Management or the National Apartment Association.
MANAGEMENT STYLE: The Regional Property Manager is directly responsible for providing the highest standards of management of properties within their area. The style of management is to be consistent with the standards of Lincoln Property Company, guided by LPC policy and direction from owners and the LPC Corporate Office.
The LPC style of management includes the minimum characteristics described below:
PERSONNEL MANAGEMENT The RPM should possess the following supervisory skills:
- Ability to motivate personnel.
- Recruiting and retaining quality applicants.
- Enhancing skills of existing employees for current and future responsibilities.
- Assuming a leadership role in decision making.
- Developing and maintaining positive resident relations.
- Objectively evaluating employees' performance; recognizing achievements and assisting employees in overcoming problem areas whenever possible.
ESSENTIAL FUNCTIONS OF THE REGIONAL PROPERTY MANAGER
- The RPM is responsible for maintaining the integrity of every community in his/her portfolio. Frequent community inspections are imperative.
A. REPORTS AND COMMUNICATIONS
- Prepare reports for owners, detailing cash flow, maintenance budgets, and marketing strategies. Coordinate format and content with accounting department.
- Review and inspect all capital replacement plans in the region, ensure all are within the scope of the Asset Business Plan and/or budget. Communicate with RVP/Owners for appropriate approvals as necessary.
- Maintain control over on-site expenditures, reviewing for approval purchase requisitions over $750. (All expenses over $5000 must be approved by the Regional Vice President unless approved in advance in the Operating Budget).
- Field calls from residents, review and respond to resident survey cards. Confer with Regional Vice President on all policy exceptions.
C. SITE INSPECTIONS
- Analyze and evaluate personnel needs throughout the region, including management, leasing and maintenance personnel. Serve as final authority for hiring decisions, with recommendations from the Business Manager.
- Review/approve salary adjustments from on-site personnel, upon recommendation from Business Manager. Regional Property Manager may reserve the right to conduct or audit annual reviews if desired.
- Assure continuing education of staff through seminars, meetings and training programs.
D. POLICY AND PROCEDURE ADMINISTRATION
- Personally inspect each property in the region on a regular basis (both scheduled and unscheduled visits), assuring the marketability of the community, both interior and exterior.
- Oversee and personally spot check turnaround standards, i.e. carpet repair or shampoo, painting and appliance repair, whether performed in-house or by outside contractors.
- Monitor move-out procedures, including Status and Ready Boards to assure apartments are being made ready within the LPC standard time of seven (7) calendar days or five (5) working days.
- Evaluate the condition of the landscape/curb appeal with the Business Manager, develop a plan for maintaining curb appeal by either in-house or contract labor.
- Solicit and approve bids for major contract work, such as major plumbing electrical work, or replacing major equipment.
E. FINANCIAL PERFORMANCE REVIEW
- Assure compliance with Lincoln’s policies on recruiting, screening and hiring applicants.
- Confer with the Regional Vice President in advance on all costs in excess of Budgets and Asset Business Plan.
F. LIABILITY MANAGEMENT
- Counsel with and advise Business Managers regarding property management income/expense, collections.
- Maintain control over expenditures at the community level, reviewing for approval on-site purchase requisitions over $500. (All expenses over $5000 must be approved by the Regional Vice President unless approved in advance in the Operations Budget.
- Review and inspect all capital replacement plans in the region, ensure all are within the scope of the Asset Business Plan and/or budget. Communicate with RVP /Owners for appropriate approvals as necessary.
- Review and appraise every detail of the monthly Cash Flow Operating Reports, analyze areas for increasing income and reducing costs. Communicate major deviations in writing to Regional Vice President/Owner.
G. BUSINESS MANAGEMENT
- Assist with LPC policy compliance to limit exposure to frivolous lawsuits by arranging for proper training and ongoing education for on-site personnel.
- Assure adherence to government regulation and LPC policy regarding sensitive issues including Fair Housing, Equal Employment Opportunity, Americans with Disabilities Act, Occupational Safety and Health Act (OSHA), and Plaintiff Liability.
- Consult with Regional Vice President regarding any situation which may warrant the advice of an attorney to prudently weigh the costs of litigation against settlement or concession.
- Prepare an annual asset business plan and budget, with input and approval from Regional Vice President and Owner/Asset Manager.
- Analyze monthly performance and budget projections to actual business plan adjust operating strategy accordingly.
- Stay abreast of market conditions and communicate to owners (both verbally and in written form) any market change that need addressing.
- Monitor rent variations in accordance with the Asset Business Plan and/or Management Contract. For assistance, information should be gathered from on-site personnel and the Regional Marketing Director.
- Maintain market intelligence for each area of the region where a community is located.
- Continually enhance industry knowledge and expertise through real estate and property management publications, reports and seminars.
- Assure compliance with LPC policy and procedures during Property Management Takeover and Property Closeout.
- Monitor status of computer management systems. Assure proper employee training of same.
- Supervise, monitor and assist with Request for Proposal (RFP) preparation.
- Collections of 99% on all stabilized assets.
- Meet and exceed submarket occupancy.
- Meet and exceed rents of comparable communities in submarket.
- Maintain acceptable turnover and resident retention performance.
- Achieve goals of Asset Business Plan: collection of revenues, operate within budget forecast, communicate all variances to Regional Vice President (or Vice President in some regions, as dictated by the Vice President) and Owner/Asset Manager.
- Effectively recruit, train, motivate and assess personnel.
- Assure client satisfaction for Owners/Asset Managers.
- Keep abreast of legislation; limit exposure to litigations.
- Prepare reports to Regional Vice President (or Vice President in some regions, as dictated by the Vice President) and Owner/Asset Manager on consistent and timely basis.
Lincoln Property Company - 22 months ago