Assistant Property Manager

Job Description

Position Title: Assistant Property Manager

Virginia Tech Foundation, Inc. (VTF) is a nonstock corporation established in 1948 for the sole purpose of managing Virginia Tech’s endowment and real estate portfolio, now valued at $2.8 billion. VTF exists and operates as a separate, independent entity with its own officers and governing board – managing, investing, and distributing private resources to advance Virginia Tech’s mission and its strategic priorities. VTF’s wholly owned for-profit subsidiary, Virginia Tech Corporate Research Center, Inc., is a research park that catalyzes commercialization and industry collaboration.

Position Summary:

Reporting to Senior Real Estate Manager, this role is to assist in maintaining a diverse and expansive real estate portfolio. This role requires familiarity with day-to-day best practices in managing real estate, budgeting, preparing draft contracts and agreements for review by the Senior Real Estate Manager and Foundation legal, maintaining positive vendor, third-party managers, and tenant relationships, inspecting properties, and assisting with renovation and construction projects. The ideal candidate is a self-starter with the ability to apply their knowledge and think creatively to overcome obstacles and devise the best path forward to address challenges to ensure a well-performing real estate portfolio.

Role & Responsibilities:

Property Management Functions:

Assist the Senior Real Estate Manager in the day-to-day management of all real estate assets to include interactions with tenants and third-party property management firms.

Assists the Senior Real Estate Manager with the preparation of budgets to include operating budgets, construction/renovation budgets, and repair budgets.

Reviews contractual services and assists the Senior Real Estate Manager with the re-bid process to assure the lowest possible cost while maintaining the Foundation’s high standards of service.

Prepares draft lease agreements and amendments for review by Senior Real Estate Manager and VTF Legal.

Monitors the status of approved budgets and makes recommendations as necessary to reduce or increase cost allocations to ensure a balanced budget.

Responsible for maintaining all required maintenance and capital improvement documentation including as-built drawings, plans and specifications, equipment parts inventory, service schedules, warranty log, etc., for the real estate assets.

Assists Senior Property Manager in the oversight of capital improvements and renovations for the Foundation’s real estate assets including development of scope of work, bidding process, and actual performance of work.

Assist the Senior Property Manager in investigating and reporting on incidents involving loss of property, injury, environmental health and safety, criminal activity, police/regulatory action and formal tenant complaints related to the real estate assets.

Assist the Senior Real Estate Manager with inspections of the Foundation’s real estate portfolio to ensure that the assets operate and perform as Class A assets consistent with guidelines as established by the Foundation.

Performs research as needed to determine market rents and/or property values.

Research various markets to identify contractors, leasing agents, brokers and other vendors as needed with respect to the Foundation’s real estate portfolio.

Copies, files, scans as necessary.

Other duties as assigned.

Maintenance, Repairs, and Renovations/Construction:

First point of contact for tenant work order requests and scheduling/coordinating as may be appropriate either directly by the Foundation’s real estate office or through third-party property management teams.

Work closely with the University and other tenants on tenant renovation requests and projects and acts as liaison between tenants and Senior Real Estate Manager.

Provides oversite of maintenance, repairs, renovation projects, and capital improvement projects for the Foundation’s portfolio either directly by the Foundation’s real estate office or through various third-party property management team(s).

Assist Senior Real Estate Manager with oversight of contractors working at Foundation real estate assets to ensure work is performed consistent with contract(s) and performed in a professional workmanlike manner.

Assists in the preparation of construction and other related service contracts.

Track construction/renovation budgets to ensure costs remain consistent with approved budgets.

Accounting Functions:

Review invoices for payment to ensure accuracy for work performed and code appropriately under the guidance of the Senior Real Estate Manager and/or Senior Property Accountant.

Monitors the status of approved operating budgets and makes recommendations as necessary to reduce or increase cost allocations to ensure a balanced budget.

Track costs to ensure costs remain consistent with approved budgets.

Assists with preparation of yearly Real Estate Cash Flow and CAM Reconciliation processes.

Prepares reports as necessary detailing the financial status of the Foundation’s real estate portfolio.

Qualifications:

5+ years’ experience in property management, real estate, finance/accounting, or related field required; commercial real estate experience preferred.

Ability to manage and prioritize multiple tasks while maintaining close attention to detail is required.

Experience in effectively managing contractors and vendors.

Excellent analytical, written and verbal communication skills.

Proficient in Microsoft Word, Excel, PowerPoint, and Access.

Strong documentation, records retention and organizational skills are required.

Some travel may be required.

Education:

Bachelor’s degree in real estate, business, finance, or related field preferred.

Designation from IREM (Institute of Real Estate Management) preferred.

Full-time