At Drake Property Management, we believe our employees and residents are at the heart of what makes our residential communities great places to live. We are looking for an experienced, proactive, and team-oriented Assistant Property Manager to support the effective day-to-day operation of our residential communities.
Position Overview
The Property Manager is responsible for the operational, financial, and resident experience performance of a portfolio of multifamily residential properties.
Reporting to the Regional Manager, this role acts as the primary business leader for the assigned portfolio and is accountable for achieving occupancy, revenue, expense management, and Net Operating Income (NOI) objectives while maintaining high standards of building operations and resident satisfaction. The Property Manager oversees all day-to-day operations, leads on-site teams, manages vendor relationships, and works collaboratively with internal departments to support portfolio growth and performance.
This position is intended for experienced property management professionals who have demonstrated success managing complex assets and navigating challenging operational environments, including lease-up and stabilization efforts, underperforming asset turnarounds, resident activism, major capital projects, and emergency or crisis situations.
Essential Duties and Responsibilities:
Operations and Asset Performance
- Oversee the day-to-day operations of a portfolio of multifamily residential properties.
- Conduct regular property inspections to ensure asset quality, curb appeal, safety, and operational standards are maintained.
- Identify operational deficiencies and implement corrective action plans.
- Ensure preventative maintenance programs are executed effectively and building systems are maintained appropriately.
- Manage contractor and vendor relationships, including scope development, tendering, pricing review, quality control, and performance management.
- Monitor service standards and ensure work is completed professionally, efficiently, and within budget.
- Support lease-up, repositioning, and stabilization initiatives for newly acquired or renovated assets.
- Develop and implement action plans to improve performance at underperforming properties.
- Participate in due diligence and operational assessments related to acquisitions and portfolio transitions as required.
Financial Performance and Revenue Management
- Prepare and manage annual operating budgets and assist with capital budget planning.
- Accountable for achieving revenue, occupancy, collection, and NOI targets across the portfolio.
- Review monthly financial statements and prepare variance analysis with clear recommendations and action plans.
- Identify opportunities to improve financial performance through revenue growth, operational efficiencies, and expense control.
- Monitor rental rates, market conditions, concessions, and competitive positioning to maximize revenue.
- Oversee rent collection efforts and ensure arrears are managed proactively and effectively.
- Ensure purchase order, invoice approval, and expense management processes are followed consistently.
- Collaborate with Asset Management and Regional Leadership on value-add initiatives and revenue enhancement opportunities.
Leasing and Resident Experience
- Drive leasing performance and maintain occupancy levels in alignment with portfolio targets.
- Ensure leasing teams execute company leasing standards and conversion strategies effectively.
- Monitor resident satisfaction and retention metrics and implement initiatives to improve resident experience.
- Resolve escalated resident concerns, disputes, and complex tenancy matters professionally and efficiently.
- Manage sensitive resident relations situations, including community complaints, organized resident groups, activism, media attention, and public-facing concerns.
- Maintain strong working knowledge of applicable legislation including the Residential Tenancies Act, Human Rights Code, Accessibility for Ontarians with Disabilities Act, and related housing regulations.
Leadership and Team Development
- Lead, mentor, and develop Property Administrators, Assistant Property Managers, Community Managers, Building Managers, and maintenance staff.
- Foster a culture of accountability, professionalism, service excellence, and continuous improvement.
- Support recruitment, onboarding, training, coaching, and performance management activities.
- Conduct regular team meetings and one-on-one performance discussions.
- Identify succession planning opportunities and support employee development initiatives.
- Act as a resource and mentor to junior property management team members.
Capital Projects and Asset Improvement
- Support planning and execution of capital projects, suite renovations, and property improvement initiatives.
- Coordinate with internal departments and external consultants to ensure projects are completed on time and within budget.
- Monitor project progress and proactively identify operational risks or delays.
- Provide operational input into project planning, resident communication, and site readiness activities.
Emergency and Crisis Management
- Serve as an escalation point for after-hours emergencies and significant operational incidents.
- Lead response efforts related to floods, fires, power outages, environmental issues, life safety events, and other emergencies.
- Coordinate with emergency services, restoration vendors, insurers, and internal stakeholders as required.
- Maintain business continuity and resident communication during crisis situations.
- Ensure incident reporting and follow-up procedures are completed accurately and promptly.
Cross Functional Collaboration
- Partner with Leasing, Finance, Asset Management, Capital Projects, Marketing, Resident Relations, Human Resources, IT, and Legal teams to achieve portfolio objectives.
- Provide timely and accurate reporting on operational, financial, and asset performance metrics.
- Participate in strategic initiatives and continuous improvement projects across the organization.
Education, Experience and Skills:
- Postsecondary education in Business, Real Estate, Property Management, Finance, or a related discipline preferred.
- Minimum 5-7 years of multifamily residential property management experience.
- Minimum 2 years of experience managing complex or large-scale residential assets.
- Demonstrated success managing budgets, financial reporting, and NOI performance.
- Experience with asset stabilization, lease-up activities, repositioning initiatives, or turnaround strategies considered a strong asset.
- Proven ability to improve occupancy, revenue, collections, and operating efficiencies.
- Experience managing resident escalations, community relations issues, and high-profile operational challenges.
- Exposure to emergency response and crisis management situations.
- Strong understanding of building operations, preventative maintenance, and capital planning.
- Knowledge of applicable residential tenancy legislation and regulatory requirements.
- Experience with Yardi and Microsoft Office Suite preferred.
- Valid driver's license and ability to travel regularly between properties.
Qualifications:
- Strong business and financial acumen with the ability to think like an asset owner.
- Demonstrated ability to identify opportunities to increase NOI and asset value.
- Strong leadership presence and ability to influence teams without direct authority.
- Excellent communication, negotiation, and conflict resolution skills.
- Ability to manage complex situations calmly and professionally.
- Strong problem-solving and decision-making capabilities.
- Highly organized with excellent attention to detail.
- Results-oriented with a strong sense of ownership and accountability.
- Ability to manage multiple priorities and deadlines in a fast-paced environment.
- High level of integrity, professionalism, and discretion.
- Familiarity with London ON markets.
How We Work
At Drake Property Management, we foster a culture of accountability, collaboration, and continuous improvement. This full-time, permanent role is based in GTA and typically operates Monday to Friday, 8:00 am–5:00 pm, with occasional after-hours work as required.
We offer a competitive salary, comprehensive benefits, and a vehicle allowance, commensurate with experience and qualifications.
Pay: $70,000.00-$75,000.00 per year
Application question(s):
- Do you have access to a vehicle and have a valid driver's license?
- Do you have at least 5-7 years of multifamily residential property management experience?
- Do you have at least 2 years of experience managing complex or large-scale residential assets?
Work Location: In person
