Jr. Asset Manager

Job Title: Jr. Asset Manager

Reports to: Asset Manager

Position Summary:

Support Asset Manager in overseeing day-to-day operations of a commercial real estate portfolio consisting of residential, retail, industrial, office and self-storage assets. Jr. Asset Manager will be responsible for oversight of property managers, maintenance staff, third-party vendors and will be responsible for all aspects of Tenant management including lease administration and Tenant relations. Additional, responsibilities include financial budgeting, forecasting and reporting, monitoring accounts payable and accounts receivables, and other general administrative tasks related to property operations.

• Develop budgets for the properties by analyzing and evaluating financial statements, reviewing current and projected financial information.
• Create cash flow models to analyze the financial health of each asset.
• Meet targeted revenue deposits and rent rates, ensuring rent and fees are collected and posted in a timely manner, making financial bank deposits, and preparing and reviewing monthly financial status reports.
• Approve invoices from vendors, contractors, and service providers for payment by reconciling work performed or products purchased, ensuring validity of certificates of insurance, coding charges to appropriate Chart of Account codes, and managing communication between the vendor/contractor, accounting, and the client/owner as needed.
• Assist Asset Manager by developing Capital Improvement Planning, forecasting and budgeting at each property.
• Control expenditures by staying within the constraints of the approved budget including monthly, quarterly and annual reviews of property income and expense statements. Interact with and manage all third party vendors including communication, scheduling, problem/conflict resolution, planning and controlling quality of services rendered.
• Function as the primary point of contact for Commercial and Retail Tenants and conduct lease administrative duties such as maintaining Tenant data bases including, lease abstract documents, lease expiration and lease option schedules, annual rent escalations.
• Enforcement of Tenant's lease obligations.
• Assist with annual CAM reconciliations.
• Support Asset Manager with commercial leasing activities including lease negotiations, commercial tenant fit outs and Landlord deliverables.
• Provide general administrative assistance to Asset Manager and Managing Partners including data organization, filing, taking meeting minutes, and scheduling of meetings.
• Work in conjunction with the Residential Leasing Manager to maintain lease enforcement process by approving prospective resident applications, discounts and renewal leases, conducts periodic apartment inspections, follows proper notice requirements, evicts residents, and imposes and collects late fees and other charges as allowable and stated in the terms of the lease.

Required Knowledge, Skills, and Abilities: This position requires a dynamic real estate professional who can work independently and as a team player, prioritize tasks, is highly organized, detailed oriented and comfortable handling shifting priorities. A successful candidate will demonstrate the ability to meet deadlines while delivering quality work in a fast-paced environment.

• A bachelor’s degree is preferred.
• A minimum of 2+ years of property management and or asset management required. Real Estate experience is required.
• Must demonstrate initiative and ability to take on projects that benefit the asset management team.
• Must be organized, concise, detailed, flexible, and efficient.
• Must possess strong interpersonal skills and an ability to work and communicate effectively with all levels of operations.
• Must possess the ability to take initiative to resolve problems and offer solutions in a professional manner.
• Must be a team player, able to work outside the core business hours when needed and willing to accept a variety of tasks associated with this position.
• Proficiency in Microsoft Office Suite (Excel, Word, Outlook) is required.
• Responsiveness – Need to perform responsibilities with an acute sense of urgency to meet the needs of others; respond to solve problems; willing to accept a variety of tasks associated with this position.

Integrity - Demonstrate sound business ethics; consistently comply with organizational values; protect confidential information.

Communication - Able to clearly express ideas; present verbal information in a straightforward manner; ask questions intended to open channels of communication; listen to understand the perspective of others.

Job Type: Full-time

Salary: $65,000.00 - $75,000.00 per year

Benefits:

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

Experience level:

• 2 years

Physical setting:

• Office

Schedule:

• Monday to Friday

Ability to commute/relocate:

• Lyndhurst, NJ 07071: Reliably commute or planning to relocate before starting work (Required)

Experience:

• Property Management/Asset Management

Work Location: In person

Job Type: Full-time

Pay: $65,000.00 - $75,000.00 per year

Benefits:

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

Experience level:

• 2 years

Schedule:

• Monday to Friday

Work Location: In person