Job Summary
We are seeking an experienced and detail-oriented Commercial Property Manager to join our team and oversee the day-to-day management of commercial properties within our portfolio.
The successful candidate will have strong experience in commercial property management and a solid understanding of commercial leasing concepts and terminology. This includes familiarity with net leases, gross leases, modified gross leases, TMI (Taxes, Maintenance and Insurance), additional rent, operating cost recoveries, property taxes, insurance, maintenance obligations, rent escalations, and other common commercial lease provisions.
The role is primarily focused on the ongoing management and operation of commercial buildings and properties, including tenant relations, building operations, maintenance coordination, vendor management, budgeting, financial oversight, compliance, and communication with property owners and boards.
From time to time, the Property Manager will also work with the owner's appointed commercial real estate agent when a vacancy is being marketed or a new tenant is being brought into the property. The Property Manager's role is to provide property-related information and coordinate building requirements, rather than to perform the brokerage or leasing activities themselves.
Key Responsibilities of Commercial Property Management
- Oversee the day-to-day operations and management of assigned commercial properties.
- Maintain strong relationships with commercial tenants, property owners, condominium boards, vendors, contractors, and other stakeholders.
- Respond to tenant inquiries and address operational, maintenance, and property-related concerns in a timely and professional manner.
- Coordinate maintenance, repairs, inspections, and capital projects, ensuring work is completed properly, efficiently, and within approved budgets.
- Obtain and review quotations, coordinate contractors, and monitor vendor performance.
- Conduct regular property inspections and identify maintenance, repair, safety, and operational requirements.
- Ensure properties are properly maintained and presented to a high professional standard.
- Manage building operating expenses and assist with annual budgets, forecasts, and financial planning.
- Review invoices and ensure expenses are properly allocated and supported.
- Monitor tenant accounts, rent payments, recoveries, and other property-related financial matters.
- Coordinate collection and administration of additional rent, TMI, operating costs, property taxes, insurance, and other recoverable expenses in accordance with applicable lease terms.
- Maintain accurate property and tenant records using Yardi and other property management systems.
- Coordinate compliance requirements, inspections, contracts, insurance, fire and life safety matters, and other regulatory requirements.
- Prepare reports and provide regular updates to property owners and/or condominium boards.
- Coordinate with internal accounting and administrative teams to ensure accurate and timely financial and tenant administration.
- Manage multiple properties and priorities while maintaining strong attention to detail and follow-through.
Commercial Leasing Knowledge & Support
- Maintain a strong working knowledge of commercial leases and understand the financial and operational obligations of landlords and tenants.
- Interpret and apply commercial lease provisions relating to base rent, additional rent, TMI, CAM/operating costs, taxes, insurance, maintenance responsibilities, rent escalations, renewals, options, and tenant obligations.
- Provide property and lease-related information to the owner's appointed commercial real estate agent when required.
- Coordinate building access and property-related requirements when vacant spaces are being shown to prospective tenants.
- Assist with the property management aspects of bringing new commercial tenants into the building, including insurance, access, renovations, signage, move-in requirements, and other building requirements.
- Coordinate with the appropriate parties following lease execution to ensure the property is prepared for tenant occupancy.
- Maintain accurate lease and tenant information within the property management system.
Pay: Up to $55,000.00 per year
Benefits:
Experience:
- commercial property management: 3 years (required)
- Commercial Lease agreement: 2 years (required)
Work Location: In person
