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COMPANY OVERVIEW

Company Description: The Stellar Family of Companies is a privately held real estate firm specializing in the multifamily industry.  We operate a diversified family of companies focusing on Investment, Development, Construction and Management within the Multifamily Industry.  We are a purpose driven organization characterized by passion and excellence.  

Our Mission: The Stellar Family of Companies is committed to invest in property, while developing people, to serve others and make an impact that matters.

Our Core Values: Integrity, Attitude, Excellence and Growth

POSITION OVERVIEW

Position: Property Manager

Supervisor: Regional Manager

Supervises: Onsite Staff

Position Purpose: Stellar Communities emphasizes and stresses the team approach to property management. The property's manager has 100% accountability and responsibility for all aspects of the property's income and expenses, occupancy and marketing, physical condition, on-site staff and resident relations. The immediate supervisor of the Manager is the Property Supervisor.  All questions and input should be directed through, and communicated to, the Property Supervisor.  The manager is expected to follow the property supervisor's instructions explicitly.

Position Summary:

  • Communicate the goals of the property to the on-site staff in a clear manner to ensure that the staff is committed to the shared goal of producing the highest possible net operating income.
  • Maintain a professional attitude and appearance at all times.
  • The manager's leadership dramatically affects the property's success and image.
  • The property's appearance will, likewise, be a direct result of the manager's expectations and emphasis on cleanliness, organization, class "A" maintenance, etc.  
  • The attitudes and opinions of the residents are affected most by the leadership and expectations of the manager and staff.
  • Every resident is to be treated with the highest standards of professionalism and courtesy.
  • The manager is expected to personally insure that every Stellar Communities associate working under his/her authority follows all company policies.
  • Every associate is expected to perform any reasonable task or request that is consistent with fulfilling company objectives.  
  • This is a salary position.  Thus, there will be the need, from time to time, to work more than the normal 8-hour day.  
  • The manager is expected to, when necessary, spend extra time on property to ensure that all aspects of the manager's responsibilities are completed, as well as other concerns in relation to the property.
  • The manager is required to have reliable transportation.  From time to time parts may need to be picked up or errands run that will require the use of associate's vehicle.  Mileage and/or gas will not be reimbursed.

PROCEDURES

Inter-Relationships: Able to interact professionally and respectfully with owners, corporate staff, venders, subcontractors and onsite staff.

Site Specific Duties:

  • Establish and implement rental rate increases and enforce collection procedures.
  • Approve property expenditures and review for conformance with the current budget.  Expenses over the budged amount must be approved by the property supervisor.
  • Submit all invoices for expenditures to the corporate office weekly to insure payment in a timely manner.
  • Review monthly operating statements and compliance with annual budget and implement plans of action to optimize site profitability.
  • Prepare the annual operating budget and business plan for review with the property supervisor.
  • Coordinate daily schedules of the maintenance department to insure timely response to maintenance request, make ready status and the overall community appearance.
  • Perform and document interior and exterior physical inspections as required by the polices of Stellar Communities.
  • Coordinate and monitor preventative maintenance schedules.
  • Keep the supervisor informed of any and all deferred maintenance.
  • Insure property compliance with all applicable state and local laws/regulations.
  • Prepare competitive bid packages as required by the budget and in accordance with Stellar Communities procedures.
  • Use the Property Software Manual to use and understand the property management software used on the property.
  • Read and understand the I.M.A.P.P.

Administrative:

  • Maintain an organized office system.  See "Standardized Office Set Up" Section 3 of the I.M.A.P.P.
  • Maintain the property accident prevention plan to insure proper working conditions.
  • Supervise, train and motivate all on-site associates.
  • Develop and train the assistant manager to assume all duties of manager in the event the manager is absent.  
  • Develop and maintain quality hiring and evaluation procedures consistent with Stellar Communities requirements.
  • Dismiss associates when necessary; adhere to all exit guidelines and procedures.
  • Maintain secure and accurate key controls.  See "Key Policies" section.
  • Process all required forms and insure timely submission of required reports.
  • Monitor all federal, state, county and city agencies.  Notify the supervisor of any ordinances affecting the property or neighborhood.
  • Keep the supervisor informed regarding resident relations, correspondence and calls concerning resident issues.
  • Schedule associate to appropriately prepare for off-hours emergencies.
  • Insure all associates strictly adhere to Fair Housing Laws and Occupancy Guidelines.
  • Manage the property in accordance with the established guidelines of Stellar Communities as outlined in the Manager's Administrative Policies & Procedures.

Marketing:

  • Submit accurate "Property Analysis" information to the supervisor weekly.
  • Prepare Market Survey Reports and insure accuracy.  Insure properties listed are comparable to the subject property.
  • Establish rental rates for prospective and current residents.
  • Prepare any marketing plans and resident profiles as requested by the supervisor.
  • Monitor resident selection criteria in accordance with federal and state regulations and all Stellar Communities policies and guidelines.
  • Maintain the highest physical and economic occupancy possible at all times.
  • Show and lease vacant apartments and apartments on notice, professionally and as quickly as possible to reduce vacancy loss.
  • Develop advertisements for use in newspapers, Apartment Guides, etc. for review by the supervisor.

Professional Development:

  • Communicate the training needs of on-site associates to the supervisor.
  • Continually train and develop the on-site associates in all aspects of property management.

Physical Requirements:

  • Stand, walk or sit alternatively depending on the task at hand.
  • Frequently perform the following:  
    • Bend 
    • Stoop 
    • Climb stairs 
    • Push or pull
    • Pick up litter 
    • Filing
    • Show and walk property  
    • Lift and store supplies
  • Constant need to read and complete forms.
  • Constant need to communicate in person and by telephone.
  • Must be able to apply principles of logical thinking to define problems, collect information and initiate the most efficient plan of action.  
  • Must be able to effectively share ideas, images and goals with others. 

The manager is expected to perform their duties in accordance with the guidelines listed above.  Un-tolerable performance by the manager may be grounds for immediate termination.  The following list contains some of the un-tolerable acts that are not tolerated. This list is not all-inclusive and may be changed by management at any time and without notice.

  • Financial mistakes and poor performance
  • Lack of planning and foresight – focus on future issues by "you" the manager
  • Lack of a quarterly external marketing plan in place
  • Lack of a quarterly internal marketing plan in place
  • Lack of a quarterly renewal plan in place
  • Manager not totally knowledgeable and up-to-date about each Critical Success 
  • Factor as listed in the manager's Property Analysis!
  • Manager not knowing the property's income, expense and N.O.I. goal for each month!
  • Manager not knowing each category limit for each budgeted expense item for the month
  • Manager not insuring that each associate knows the N.O.I. goal for the month
  • Manager not reviewing each invoice with every associate monthly
  • Any lie/dishonesty
  • A non-team attitude by "you" the manager
  • Late, double paid and past due invoices
  • Late reports
  • Allowing poor associate performance to continue
  • Any rent roll or financial discrepancies (has to balance)
  • Not managing the designed leasing process.