Penn Florida Companies, a Boca Raton based owner, developer and manager of commercial and residential real estate, is currently seeking an experienced Director of Residential Asset Management to join our team to execute operating plans on several new apartment projects.
This is an opportunity to join a leader in the real estate industry in a challenging position that will interact directly with ownership and senior management.
Job Responsibilities:
Develop and implement an overall asset management strategy for assigned assets; direct accountability for residential assets’ P & L and balance sheet; oversee smooth execution of assigned residential assets operations.
Duties:
- Perform in depth financial analysis (IRR, ROI, ROE) of assigned assets and attractive opportunities, for sale in the market, to assess potential divestitures or acquisitions
- Manage individual residential communities as point of contact and ensure implementation of asset management strategies
- Evaluate industry innovations, and trends, and recommend new technologies that meet product benefit or cost expectations
- Recommend and pressure test budgets, financial models and respond to variance
- Oversee asset operations, review and recommend adjustments in case of deviations
- Activate marketing in tandem with marketing department and recommend appropriate amendments to strategy, if required
- Approve vendor contracts
- Regularly inspects assigned properties to evaluate physical and operating status, ensuring efficient operations
- Recommend, monitor and track monthly operational and financial targets; identify and recommend mitigation actions
- Set specific sales performance and customer satisfaction KPI’s using past performance to ensure goals are met
- Determine rent and sale pricing for residential properties as well as sales and leasing mix
Knowledge & Skill Requirements:
- Minimum – Bachelor degree in engineering, business or economics, MBA is a plus.
- P & L responsibility with minimum of 10 years’ experience in managing multiple residential properties (approx. 2500 + units)
- Experience in portfolio management issues / problems and respective remedial actions
- Experience in vast array of residential properties: middle income housing, premium housing, etc.
- Ability in building strong relationships with external service providers and customers
- Good conflict resolution / managements skills
- Good communication, planning and organizing skills
