Regional Manager

Interstate Equities Corporation; Palo Alto (CA); On-site; USD 110,000 - 160,000; Full time

Benefits offered by this job

Health insurance for employee

401(k) with company match

Flexible Spending/Health Savings

Life Insurance

Paid Time Off

Job summary

Interstate Equities Corporation seeks a Regional Manager to optimize the physical and financial operations of 6+ Northern California apartment communities, with travel to the Los Altos office. You will lead IEC Property Services teams, drive budgets, asset preservation, marketing, and quarterly business reviews.

The role requires 10+ years in multifamily management, including multi-site leadership, and a CPM/ARM or in-progress designation. Strong communication and leadership are essential.

Qualifications

• College degree required with 10+ years in apartment management, 2+ years multi-site across markets.
• CPM or ARM designation preferred.
• Minimum five years portfolio-level multifamily management experience.
• Yardi Voyager experience preferred.

Responsibilities

• Oversees apartment assets within the regional portfolio.
• Formulates and implements business plans and long-term strategies.
• Budgeting, forecasting, maintenance, capital improvements, and pricing.
• Supervises Community Managers to achieve property objectives.
• Conducts quarterly training and performance reviews.
• Leads market analysis, leasing results, and financial reporting.

Skills

Leadership

Team management

Interpersonal communication

Financial analysis

Budgeting

Education

College degree

CPM/ARM designation

Tools

Yardi Voyager

Job description

Founded in 1981, IEC has an exceptional 40+ year track record and is rapidly acquiring additional communities, offering growth opportunities to great team members. IEC is a vertically integrated private real estate investment firm based in the Bay Area specializing in value-add multifamily with properties in Washington and California. We focus on adding value through opportunistic investing, strategic repositioning, and effective property management.

Our property management company, IEC Property Services Corporation ("PSC"), strives to offer excellent customer service and care to residents while achieving property business plans. PSC is comprised of a team of talented veterans with a combined experience of over 100 years and PSC has been successful in achieving the Great Place to Work certification in consecutive years starting in 2021.

Position Summary:

The Regional Manager will be responsible for maximizing the physical and financial operations of the assigned portfolio and provide direction and leadership in conjunction with IEC Property Services Corporations’ strategies and programs. The initial assigned portfolio will consist of 6+ apartment communities located in Northern California, with a primary focus in the East Bay area. The Regional Manager will report to the Senior Regional Manager, with routine travel throughout our portfolio, including the Los Altos corporate office.

Our associates live and breathe our cultural pillars:

Grit – We believe perseverance and passion drives results

Humility – We remain teachable, regardless of how much we may already know

Teamwork – Together Everybody Achieves More

Commitment – We are as committed to our associates as our associates are to us

Integrity – We do what’s right regardless of who is watching

Responsibilities:

• Oversees apartment assets within the assigned regional portfolio.
• Formulates and oversees the implementation of business plans and long-term property operations strategies for each of the assigned properties within the portfolio to include:
• Income and expense budgeting and forecasting
• Maintenance, asset preservation and capital improvements
• Marketing and lease up plans
• Conduct regular site tours and property inspections
• Financial reviews, analysis and pricing
• Supervises and directs the efforts of Community Managers and other associates in order to achieve budgeted property level objectives and to coordinate activities and share ideas relating to property level strategies for the assigned portfolio.
• Conducts routine quarterly training meetings with key personnel such as Community Managers
• Assesses the performance of site teams and trains them accordingly to improve results
• Responsible for market analysis, monitors leasing results, corporate communication, corporate administration, accounting, monitor on-site administration to ensure compliance with corporate procedures and policies.
• Promotes customer service and teamwork with all members of IEC’s regional property management team.
• Continually evaluates each asset, identify key issues, and work with assigned team to develop and implement individual business plans for each property.
• Conducts and participates in frequent financial reviews, analysis and unit pricing.
• Drives and leads the assigned team and manage and monitor properties at the property and portfolio levels to achieve business objectives. This includes overseeing and evaluating personnel for all field positions. Ensure that the right functions and talent are in place within the assigned teams.
• Anticipates significant variances to expected performance in any area. Proactively and effectively communicate with supervisor regarding any issues related to property performance as well as overall operational matters.
• Becomes intimately familiar with and knowledgeable about assigned market(s) and is responsible for creating market reports on a regular basis.
• Becomes familiar with new acquisition prospects during diligence to enable a smooth transition upon acquisition. Scale responsibility to manage additional assets.
• Ensures timely and accurate reporting for assigned portfolio using Yardi modules and corporate reporting documents.
• Administers all standing contracts and recurring charges in accordance with IEC’s policies and procedures.

Qualifications:

The successful candidate should preferably have a college degree and at least 10 years of experience in apartment management including at least the last two years in multi-site, multi-market management. Additionally, a CPM or ARM designation or designation in progress is preferred.

• Minimum of five years of portfolio level multifamily property management experience.
• Yardi Voyager experience preferred.
• Should have prior responsibility for managing at least a 750-unit portfolio across multiple submarkets and demonstrate strong hands-on property level knowledge and understanding.
• Track record for and demonstrated capability as a proven leader including the ability to hold associates accountable while also providing the appropriate authority, to build strong and cohesive teams. Demonstrable track record of proven results with revenue generation, staff management and development, financials, and marketing.
• Demonstrates strong hands-on property level knowledge and understanding. Ability to walk a property to identify problems and create solutions, assess and evaluate on-site personnel and vendors, and create management strategies and business plans for long-term ownership. In other words, has both the experience and credibility to lead teams within the assigned region.
• Must have current experience with Northern California apartment markets.
• Brings a current, best-of-breed perspective and high level of industry knowledge to this position. Will understand and have managed using best practices and key performance indicators.
• Demonstrated knowledge of and/or ability to quickly learn automated systems that IECPSC has established and utilizes for systematic management of apartments.
• Thinks creatively and strategically about a property’s performance in terms of meeting its stated objectives and specific budgetary requirements that are set forth yet is able to balance creativity with a disciplined approach and perspective.
• Detail oriented and organized; ability to interact effectively with prospects, residents, peers and senior management.
• Excellent interpersonal, verbal and written communication skills.
• Desire and willingness/ability to spend a significant amount of time out of the office visiting portfolio properties and meeting with Community Managers and vendors (approximately 70% of work week spent out of the office).
• Highly computer/technology proficient and capable of using technology deeply, widely, and proactively throughout the business.
• High level of integrity, honesty and respect for others in both personal and business relationships.

IEC offers a competitive compensation package including:

• IEC offers a competitive compensation package, including:
• Company paid healthcare premiums at 100%, specifically for the employee, with options to buy up
• 401(k) Plan, with 4% company match
• Flexible Spending/Health Savings Accounts
• Company paid Life Insurance and Long-Term Disability Insurance, specifically for the employee, with options to buy up
• Paid Time Off – 5.23 hours accrued per pay period, from date of hire