What are the responsibilities and job description for the Operations Associate / Assistant Property Manager position at Stellar Management?
The Operations Associate / Assistant Property Manager will be expected to take an active role in supporting the execution of a multitude of asset-level operational and development initiatives for one of New York City’s premier real estate investment firms. Under general direction from the firm’s development, asset management & property management groups. The associate will have the rare opportunity to learn the real estate business through a multi-faceted lens and gain invaluable experience with a holistic view of the firm’s investment strategies. Additionally, the associate will benefit from regular engagement with Principals and senior management team members.
The role will initially be focused on daily operations of a high-rise apartment building on Manhattan's Upper West Side comprising over 170 luxury rental apartments. Primary responsibilities will include managing and overseeing all building staff, property operations, and ongoing development projects with the ultimate goal of achieving the financial and operational objectives of the portfolio.
Responsibilities:
- Managing and overseeing all building staff, property operations, and ongoing development projects to achieve the financial and operational objectives of the business plan
- Execute on Key Performance Indicators as defined in the business plan
- Assist with the hiring, training/onboarding, scheduling, and management of on-site building staff
- Work with management to prepare and maintain operating and capital budgets and support the implementation and execution of construction projects on site
- Assist procuring and monitoring third-party vendors and the reporting on status of ongoing projects
- Compile and ensure completion of construction punch lists including project close-out documentation
- Process and track vendor invoicing via AIA documents, lien waivers, & contractor affidavits
- Assist in reviewing contracts, vendors, staffing, and maintenance practices to identify expense reductions
- Oversee the lease renewal process and help negotiate renewal terms to retain occupancy for three rental buildings in the portfolio
- Coordinate curing of DOB, DOH, HPD, DEC, DEP, & LPC violations
- Oversee resident services and communications to achieve high customer satisfaction and retention
- Work with the maintenance team to ensure that apartments, common areas and grounds are maintained
- Assist with the leasing process when necessary, including pricing, marketing, showings, and issuing new leases
- Oversee turnover process of recently vacated apartments to ensure quality results and timely completion
- Attend to emergencies on-site outside of normal business hours if/when needed
- Additional operational tasks include: monitoring and handling resident payments and collections with the accounting department, preparing accident and insurance claims, and scheduling tenant move-ins / outs.
Requirements:
- Undergraduate degree
- A commitment to performing high-quality work in a collaborative environment on a growing team.
- Ability to prioritize, identify and implement operational initiatives.
- Ability to demonstrate self-motivation and an intellectual curiosity with a dedication to continually find ways to positively impact operational processes and key personnel to improve property-level performance.
- Strong interpersonal skills with an ability to effectively communicate with individuals across all levels of the firm including building staff, leasing teams, and senior management.
- Demonstrated ability to effectively communicate and manage a team
- Strong organization skills with a penchant for paying attention to detail.
- Strong customer service and verbal/written communication skills
- Proficiency in MS Excel, PowerPoint and Word. Experience with Yardi software and CMS helpful, but not required.
- Knowledge of building systems and building maintenance preferred.
- Prior experience in leasing preferred, but not required.
- Familiarity with local real estate laws and regulations helpful, but not required.
About Stellar Management
Founded in 1985, Stellar Management is a New York City based real estate investment and management firm. With over 13,000 apartments, 1.7 million square feet of office space, and 1.8 million square feet of retail space under the firm’s corporate umbrella, Stellar is an active market participant focused exclusively on New York City. Since its inception, Stellar has built a superior track record of owning and operating properties for a diverse array of residential, office and retail users. Stellar Management employs a direct, hands-on approach to value investing by marrying its best-in-class management operation with in-house construction and development teams. The vertical integration of ownership, development and management is a central tenet of the firm’s investment philosophy and enables Stellar to quality control every step of the investment and execution process. With a fully integrated real estate platform, Stellar is able to provide stakeholders accountability across the many facets of real estate investment. For this, Stellar Management has cultivated a well-respected reputation in the industry.