The Property Operations Manager is a key leadership role responsible for the overall operational, financial, and leasing performance of the residential rental portfolio.
Sitting above the Regional Property Manager, this role provides strategic direction and oversight across the full property management business including leasing and revenue strategy, expense management, annual budgeting, people development, and marketing alignment.
The Property Operations Manager translates portfolio objectives into actionable plans for the RPM and their teams, and is the primary accountability holder for ensuring the business operates within budget, achieves leasing targets, and delivers a consistent resident experience.
ESSENTIAL FUNCTIONS
Leasing Strategy and Revenue Management
- Establish leasing goals for each asset in collaboration with the RPM; set rent amounts, incentive structures, and leasing targets by property.
- Review market surveys collected by the RPM and site teams; analyze competitive data and recommend where the portfolio should be positioned on price and incentives.
- Monitor occupancy, absorption, and renewal trends across the portfolio; adjust leasing strategy proactively in response to market conditions.
- Liaise with internal leasing representatives on lease-up and renewals; approve lease pricing that varies from the approved rent roll.
- Ensure residential leases comply with established rental rates, credit guidelines, and documentation standards (tenant, occupant, and vehicle registration).
- Oversee creation and ongoing maintenance of monthly rent rolls; review monthly tenant accounts receivable.
- Ensure move-in and move-out dates are coordinated with Building Operators and that unit inspections are completed prior to renewals.
Expense Management and Annual Budgeting
- Develop and own the annual operating and capital budgets for each property, covering both revenue and expense projections.
- Monitor expenses against approved budgets throughout the year; ensure the RPM and site teams are operating within their approved parameters.
- Establish clear escalation expectations — team members are required to communicate promptly when they anticipate exceeding budget on any significant line item.
- Authorize and process operational expenses within approved guidelines; review all vendor invoices for accuracy and proper coding prior to payment.
- Review and approve all third-party contractor agreements prior to execution.
- Maintain awareness of current market costs relevant to building operations and maintenance.
- Develop 5-year plans that maintain and enhance portfolio assets.
Property and Maintenance Operations
- Ensure buildings are operated in a manner consistent with Rohit’s standards and all applicable regulatory and legislative requirements.
- Oversee preventative maintenance schedules across all rental assets; ensure adherence to schedules for all building systems including mechanical, plumbing, elevating devices, life safety, landscaping, and structural systems.
- Oversee the handoff of units from construction to property management.
- Ensure tenant inquiries and complaints are resolved in a timely manner.
- Establish community outreach programs that support leasing and the resident experience.
- Assess performance of third-party contractors in collaboration with Building Operators.
People Management and Team Development
- Provide leadership, coaching, and strategic direction to the Regional Property Manager; hold the RPM accountable to portfolio performance and team outcomes.
- Ensure the team has the tools, documented processes, and training required to perform their roles effectively.
- Drive employee development plans and performance evaluations for direct reports; support the RPM in doing the same for their teams.
- Foster a high-performance culture focused on accountability, service excellence, and continuous improvement.
- Support recruitment and onboarding of property management staff as the portfolio grows.
Marketing Collaboration
- Attend and actively participate in marketing meetings to communicate the operational and leasing needs of the business.
- Provide the marketing team with direction on leasing priorities, target demographics, messaging, and campaign timing based on current portfolio performance and market conditions.
- Work with the marketing and project management teams to establish and maintain show suites and leasing offices.
- Ensure marketing activities are aligned with current rental rates, incentive structures, and occupancy goals.
Financial Reporting and Systems
- Oversee preparation of monthly property operating reports and quarterly actual-to-budget variance analyses.
- Maintain a strong understanding of industry trends, competitor activity, emerging market conditions, pricing, and profit expectations.
- Ensure completion of monthly market surveys for each project and asset class; review survey results with the RPM to inform pricing and leasing strategy decisions.
- Manage Yardi Voyager vendor contract administration and ensure the team is using the platform effectively.
- Perform other related duties as assigned.
Our Ideal Candidate
- 8–12 years of progressive experience in residential property management, multi-family operations, or real estate asset management.
- Minimum 5 years in a leadership role managing property management teams, regional operations, or multi-site portfolios.
- Experience overseeing portfolios of at least 500+ residential units across multiple assets.
- Demonstrated accountability for operating budgets, capital planning, forecasting, and financial performance.
- Experience developing and executing leasing strategies, revenue management programs, and occupancy improvement initiatives.
- Proven experience leading, coaching, and developing property management professionals, including Property Managers, Regional Property Managers, Leasing Managers, and Building Operators.
- Experience working with property management systems such as Yardi Voyager, MRI, or similar platforms.
- Strong knowledge of residential tenancy legislation, building operations, vendor management, and regulatory compliance.
- Experience working closely with marketing teams on lease-up campaigns, branding, and resident engagement strategies.
