Vice President, Property Management - Residential
Who We Are
Detroit-based Bedrock is a full-service real estate firm specializing in acquiring, developing, leasing, financing, and managing commercial and residential buildings. Since founding in 2011, Bedrock and its affiliates have committed more than $5.6 billion in acquiring and developing more than 100 properties in downtown Detroit and Cleveland totaling more than 16 million square feet.
Bedrock is leading Detroit's building boom with the city's largest and most ambitious projects. These projects meet an increasing demand for Class A office space and modern living options in a growing and technology-centric urban core, with an emphasis on ground-level activation and increased walkability. In the next five years, Bedrock plans to deliver 3,500 new residential units to the market; from City Modern, an 8.4-acre neighborhood where residents can age in place; to 28Grand, where residents use the city as their living room; to the Hudson's project, which will soon be home to Detroit's tallest building and most landmark address. If so, come join us then as Bedrock is leading a movement! For more information, visit bedrockdetroit.com or engage with us on Twitter @BedrockDetroit and Facebook.
Bedrock Property Management Team
Responsible for the day-to-day operations of each building including tenant relations, maintenance and repair, and security. Working with a variety of contractors and vendors to coordinate work that needs to be done for the properties, the Property Management Team is responsible for preparing annual budgets and reporting financial performance of the property. Property Management works with tenants to improve their experience by being as proactive as possible. When an issue arises, responding with a sense of urgency is critical.
The VP of Property Management will have the responsibility of maximizing the performance and value of Bedrock's portfolio of real estate assets. This position is responsible for formulating and implementing a long-range real estate management strategy.
- Oversee asset management for diversified mix-use residential property portfolio
- Effectively implement investment strategy, focusing on maximizing and enhancing asset values
- Report regularly to Leadership regarding property performance and market conditions
- Work with CFO on asset budgets and financials, as well as developing strategies to meet the financial expectations
- Visit assets as required to ascertain and address any operating issues and oversee asset performance
- Support and assist Property Managers in overall management of all communities within the assigned portfolio
- Build strong on-site management teams through constant coaching and motivation
- Achieve the highest possible net operating income (NOI) through the implementation of effective cost control, revenue maximization and delinquency management plans
- Identify long term property goals and objectives. Be responsive to owners' needs, goals, and objectives
- Identify and analyze issues within portfolio and develop and implement decisions that help the portfolio achieve the Company's objectives
- Monitor achievement of each property against financial objectives utilizing a reporting system that includes the review of monthly owners' reports, bi-monthly inspections, and weekly operating reports. Work with COO and Senior Property Managers to correct unfavorable variances and improve NOI
- Assist Acquisitions Team in the due diligence, acquisition, and integration of new properties
- Evaluate the operations of each asset to ensure that we are maximizing the financial performance including evaluation of personnel and opportunities for efficiency
- Provide leadership to Senior Property Management and their team members at each property and cultivate a culture of tenant service and collaborative work environment
- Work with the rest of the leadership team to develop strategies for continued growth, improved operational efficiencies, and to tie threads, and to reinforce a culture of customer service and a collaborative work environment
- 10+ years experience in managing a multi-site residential portfolio - including low-mid rise properties and LIHTC properties
- Proven success in budgeting, financial management, team development, performance management and leasing
- Ability to problem solve and make strategic decisions; ability to be creative, flexible, and adaptable to new situations and assignments
- Must be able to communicate effectively verbally and in writing
- Must be able to read and comprehend the English language
- The successful candidate will be an experienced and visionary leader, able to maximize the strength of the Property Management Team, and implement an effective Property Management Business Plan meeting regulatory compliance and fiscal goals
- Must be willing to travel from time to time as required
- Must be able to present industry related matter in front of audience, as required, and speak on behalf of the organization
- Must be technology savvy and understand current trends in commercial real estate industry
Nice to have
- Certified Property Manager or active candidacy for similar designations strongly preferred
- Bachelor's degree in Business, Real Estate or related field preferred
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