Property Manager - Residential

Under the direction of Regional Property Management Executives, the Property Manager is responsible for excellent customer service in the daily management and coordination of all aspects of apartment community operations to include the maximization of cash flow; achievement of budgeted NOI; providing a quality living environment for residents; establishing a positive work environment for property team members; and leads by example in exhibiting attributes that support NOVO's code of ethics of professionalism by positively representing yourself and NOVO in written and verbal interactions with customers, clients, colleagues, and management.

About Us

Founded in 2003, NOVO Properties is a multifamily owner, developer, asset, and property management organization headquartered on Capitol Hill in Washington, DC.

NOVO currently manages a portfolio of approximately 2,000 apartment homes throughout
Washington, DC, Maryland, Virginia, Chicago, and the city of Cambridge on Maryland’s Eastern
Shore.

At NOVO, we’re forging a new and better path in the multifamily and commercial real estate investment space. Our focus is to strategically acquire, develop, and manage existing multifamily and mixed-use assets and infill development sites within targeted urban and suburban markets.

We strive to be a best-in-class owner and operator in every project we pursue. With a forward- looking approach, disciplined due diligence and underwriting, and decades of experience producing favorable outcomes, we are positioned to produce value for our strategic partners, residents, and the surrounding community.

Our companies core values are critical, and we believe they create a long-lasting, successful, and motivating place to work.

• Integrity
• Exceptional customer service
• Professional leadership
• Diversity
• Teamwork & collaboration
• Culture of personal development

Position Focus

Financial

• The Property Manager will report to the Regional Manager and work together to meet the owner’s goals and objectives.

Marketing

• Monitor direction of rental activity and all on-site sales, marketing outreach, and advertising plans.

People Development

• Supervision Maintenance Engineers, train, coach, and mentor, team members, and provide ongoing feedback to team members.

Who you are

• High School Diploma or equivalent
• Yardi experience or computerized accounting experience.
• At least 2-3 years property management experience.
• One-year experience in direct supervision of staff of two or more.
• Knowledge of budgets and financial statements as well as the ability to work within budget guidelines.
• Working knowledge of eviction law, Fair Housing mandates and other legal issues affecting property management
• Working knowledge of subsidized government housing is a plus.
• Bilingual and able to read, write and speak English and Spanish proficiently preferred.

What you’ll do

• Responsible for achievement of net income, revenue growth, rent collection, and property financial performance compared to the annual operating budget.
• Responsible for timely rent collection, minimizing delinquencies, banking activities with daily deposits, preparation of collection documents, personally contacting residents to collect overdue rent, collecting late charges, and make court appearances when necessary.
• Responsible for all input and report functions that are designated by NOVO. This may include some of the following: accuracy and timely preparation of leasing activities, A/R cash receipts, statement of disposition, A/P invoices, monthly closing procedures, late fees, and renewals.
• Develop cost saving strategies to reduce budgeted expenses including utilities, pool, landscaping, flooring, window coverings, turnover items, maintenance supplies, office supplies, payroll, resident activities and marketing programs.
• Development of an annual operating budget and business plan.
• Monitor all revenue transactions, check endorsements, no cash policy and daily deposit procedures.
• Accurate and timely preparation of statement of security deposit, rent payment deposits, payroll documents, accounts payable and Profit and Loss Variance.
• Reduce Bad Debt Loss by ensuring daily deposits, contacting residents to collect unpaid rent, collecting late charges, processing unlawful detainees & file evictions, preparation of collection documents, court appearances.
• Analyze income and expenses, traffic, 30-60-90-120, (if applicable) lease expirations, market rents, delinquency financial statements, and make recommendations as needed

(if applicable).

• Recommend and monitor all capital improvements, deferred maintenance and upgrade programs.
• Monitor and direct service operations to ensure turnover and make readies preventative maintenance tasks are completed and on schedule.
• Review and analyze all bid summaries for purchase of goods and services per the contract process.
• Ensure that all contracted services and materials are accounted for and that the work has been performed properly prior to the release of payment.
• Daily review of collections and delinquencies. Process delinquencies according to policy.
• Serve as property representative in court proceedings, understanding all property legal issues affecting residency, storage, abandonment, bankruptcy, fair housing and unlawful detainer/eviction actions.
• Monitor and direct service operations to ensure vacant apartments are in market ready condition with a less than one week downtime for preparation of market ready apartments, and to be defined turn timeframe for upgrade units and ensure it would pass the white glove test.
• This position primarily performs sedentary office work; requires the use of computers and telephones. Occasionally requires lifting 20 pounds or less.

Job Type: Full-time

Pay: $60,000.00 - $70,000.00 per year

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Experience level:

• 3 years

Schedule:

• Monday to Friday

Experience:

• Property management: 3 years (Required)

License/Certification:

• Driver's License (Required)

Work Location: In person