BB Living Overview

BB Living (“The Company”), founded in 2012, has been at the forefront of the rapidly growing single-family “build to rent” asset class since the beginning. The Company has grown from a niche investment driven by impacts of the Great Financial Crisis to a well-capitalized, highly attractive, stabilized business with a presence in the top markets and communities across the United States and a reputation as the leader in the “build to rent” asset class.

After successfully identifying the market demand for new, three (3) and four (4) bedroom rental homes, BB Living built 1,000 homes in Metro Phoenix between 2012-2018. In late 2018 BB Living partnered with a public homebuilder to expand the “build to rent” strategy nationwide. Through this partnership, BB Living has established itself as the best-in-class “build to rent” developer and operator, the preferred rental home provider of top masterplanned communities and developers across the country, with a presence in the fastest growing and most desirable markets throughout the US. 

Leveraging our track record and vertically integrated team, The Company has elevated the quality of its portfolio relative to other single-family rental and “build to rent” operators.BB Living continues to grow, expanding its presence in new and existing markets through a robust acquisitions pipeline providing continued growth opportunities for The Company.

Opportunity Summary

BB Living is seeking an Asset Manager to assist the operations of a rapidly growing company (“the Company”) in the single-family “Build to Rent” industry, based in Scottsdale, Arizona.

The Asset Manager will be responsible for ensuring that the assets in their portfolio exceed the goals set out in annual budgets and asset management plans. The Asset Manager will be responsible for portfolio reporting, financial analysis, identification and implementation of value-add opportunities, communication to 3rd party property management companies, creation of annual operational and capital budgets, preparation and implementation of marketing strategies, and ongoing communication with stakeholders and service providers. The Asset Manager will assist in acquisitions, dispositions and financing activities, train and mentor Analysts, community openings, and participate in other day-to-day activities as required by the various stakeholders.

Knowledge, Skills and Abilities

• Provides oversight and is the primary point of contact for third party management companies.
• Lead and supervise business plan execution as owner’s representative.
• Owns the end-to-end process of setting up new BB Living communities across multiple markets.
• Capable of overseeing ongoing operations and openings of multiple lease-ups simultaneously.
• Provides leasing guidance to third-party management companies.
• Provides guidance on market lease rates to best maximize gross rents and lease-up absorptions.
• Performs on-site property inspections to monitor the property management team’s effectiveness and assesses property conditions. Issues action plans that drive investment performance.
• Works closely with property management companies and internal construction teams to oversee effective execution of capital and business plans.
• Manages the approval process for all property operating decisions requiring ownership consent.
• Negotiates the contractual relationship with the management companies and other vendors as needed.
• Analyzes market research to understand the position of each asset in its respective market from a leasing, investment perspective, and underlying factors that may influence it.
• Completes full monthly financial review and analysis.

• Review asset management reports and present quarterly reporting to stakeholders.
• Review and present ad hoc reporting as reasonably requested by stakeholders.
• Manage the property tax appeals process for portfolio.
• Collaborates with investment team to complete asset valuations (hold/sell analyses and quarterly valuation updates) in an efficient and timely manner
• Contributes to business plan and budget creation.
• Participates in the selection, evaluation, and design of prospective communities.
• Assist in underwriting prospective projects by providing relevant market rent and operating expense assumptions.
• Travel to assigned markets and tour properties on a quarterly basis, at a minimum.

Supervisory Responsibilities

May have supervisory responsibilities.

Qualifications

• Bachelor's degree from a four-year college or university; and/or related experience and/or training. MBA, CFA or other professional designations are an asset.
• Prior experience in property management preferred
• Time-management, prioritizing, and multi-tasking skills
• Oral and written communication skills
• Organizational skills
• Analytical and problem-solving skills
• Interpersonal skills
• Proficiency with MS Office and email
• Must have a vehicle and a valid driver’s license