Roles & Personas

Multifamily Personas Roles & Responsiblities

Applicant

Overview

An Applicant seeks a suitable multifamily unit to lease or rent. They interact with leasing agents, evaluate properties, and navigate rental application processes to secure a home that fits their needs and budget.

Jobs to Be Done

Applicants search for suitable properties, attend viewings, submit rental applications, and negotiate lease terms.

Property Search: Research and identify potential properties that align with preferences and budget

Property Visits: Schedule and attend property tours or viewings to assess suitability.

Application Submission: Complete and submit rental application forms, often including background and credit checks, and track them throughout the process

Lease Negotiation: Engage in discussions about lease terms, including rent, duration, and any specific conditions.

Roommate Coordination: Ensure roommates complete their applications and pay fees and deposits on time

Pain Points

They often face challenges like limited property availability, application denials, complicated paperwork, and unexpected rental-related costs.

Limited Availability: The desired property type or location might have limited vacancies.

Application Rejections: Potential rejections due to credit scores, rental history, or other factors

Complex Paperwork: Navigating multifaceted rental applications and lease agreements

Variable Costs: Unexpected costs such as application fees, security deposits, or moving expenses.

Uncertainty: Lack of transparency in application status and uncertainty regarding the likelihood of an application being accepted

Motivation

Their main goals include securing a suitable home, getting value for their money, joining a positive community, and experiencing a clear application process.

Securing a Home: The primary drive is to find a comfortable place to live.

Value for Money: Seek a rental that offers good amenities and location for its price

Positive Community: Desire to be part of a friendly and secure neighborhood

Transparent Process: Prefer a straightforward and transparent rental application procedure.

Success Metrics

Success for applicants revolves around lease approval, agreeable lease terms, a smooth moving process, and overall satisfaction with their choice

Lease Approval: Successfully securing a lease for a desired property

Satisfactory Terms: Securing a lease that aligns with personal terms and conditions.

Smooth Move-in: A hassle-free move-in experience without unforeseen issues.

Overall Satisfaction: Contentment with the chosen property and its community

Applicant - Student

Overview

A Student Applicant is typically a student (or sometimes their guardians) seeking accommodation conducive to their academic life. They prioritize factors such as proximity to their educational institution, affordability, and amenities conducive to studying and student life.

Jobs to Be Done

Student Applicants mainly focus on finding rentals near their institution, viewing potential properties, submitting required student-specific documentation, and negotiating student-friendly lease terms

Property Search: Locate potential rentals near the educational institution and with student-friendly amenities.

Property Visits: Attend open houses or scheduled viewings to gauge the suitability of the rental for student life.

Application Submission: Provide necessary documents, which might include student ID, proof of enrollment, and sometimes parent/guardian details.

Lease Negotiation: Discuss terms that might be unique to students, such as shorter lease durations or semester-based payment schedules

Payment: Pay deposits and fees on time

Roommate Coordination: Ensure roommates complete their applications and pay fees and deposits on time

Pain Points

Students face challenges like high rental demand near campuses, tight budgets, non-flexible lease durations, and sometimes a lack of student-centric amenities

High Demand, Limited Supply: Especially true near popular universities, where demand often exceeds the available units

Budget Constraints: Many students have tight budgets, making it challenging to secure desirable housing.

Variable Lease Terms: Some student accommodations might insist on 12-month leases, even if the academic year is shorter. Lack of Amenities: Not all rentals are equipped for student needs, like quiet study areas or robust internet

Motivation

The primary motivations of Student Applicants are convenience regarding campus location, affordability, having good study environments, and living in a secure and communal space.

Convenience: Prioritize properties close to campus or with easy transport options.

Budget-Friendly: Affordable rentals that don't strain student finances.

Study-Optimized Spaces: Desire for quiet and comfortable study areas

Community & Safety: Rentals that offer a sense of community and are in safe neighborhoods

Success Metrics

Student Applicants measure success by how close the rental is to their school, how affordable the lease is, the quality of amenities, and the flexibility of lease terms

Proximity to Campus: Securing a rental that's near the educational institution

Affordable Lease: A lease agreement that fits within the student's budget

Amenities Satisfaction: Having access to necessary amenities, especially those that aid studying.

Lease Flexibility: Agreements that are tailored to the academic calendar or have flexible terms for students..

Overview

A Guarantor guarantees rent payments on behalf of a tenant, ensuring that the landlord receives rent should the tenant default. This role often requires the guarantor to have good credit and financial stability.

Jobs to Be Done

Common Titles

Cosigner, Lease Guarantor, Rental Cosigner, Rent Guarantor

A Guarantor's main duties involve overseeing the tenant's financial capabilities, communicating with the landlord, understanding all lease terms, and supporting the tenant in rental matters

Application Submission: Complete and submit rental application forms, often including background and credit checks

Proactively Ensure Payment: Periodically monitor the tenant's ability to pay rent

Stakeholder Communication: Maintain open lines of communication with the landlord or property management concerning any potential financial issues.

Understanding Lease Terms: Thoroughly comprehend the lease terms to know the extent of their responsibility.

Provide Guidance: Provide guidance or advice to the tenant to ensure timely payment and adherence to lease terms

Pain Points

Guarantors face potential financial liabilities, negative impacts on their credit, a lack of control over the tenant's decisions, and potential legal issues.

Financial Liability: Risk of having to cover rent or other costs if the tenant defaults.

Potential Credit Impact: Late payments or defaults can negatively affect the guarantor's credit score

Lack of Control: Dependent on the tenant's actions but has limited control over their decisions

Legal Implications: Potential for legal complications if the tenant consistently fails to meet their obligations

Motivation

Many become Guarantors to support loved ones, showcase their financial stability, invest in the tenant's future, and strengthen trust within relationships.

Supporting Loved Ones: Often, guarantors step in to help family members or close friends secure a rental

Financial Stability: Demonstrating their financial soundness by acting as a guarantor.

Investment in Tenant's Future: Belief in the tenant's potential, especially if they're students or young professionals

Building Trust: Strengthening relationships by providing a safety net for the tenant.

Success Metrics

A successful Guarantor experience involves no rent defaults, a preserved credit score, open lines of communication, and a stress-free commitment throughout the lease term.

No Default on Rent: The tenant consistently pays rent without the guarantor's intervention

Preserved Credit Score: No negative impacts on the guarantor's credit history due to rental issues

Open Communication: Transparent and proactive conversations with both the landlord and the tenant.

Stress-Free Guarantee: The tenure of the lease passes without any major financial or legal hiccups

Occupant

Overview

An Occupant in a multifamily property resides in a rental unit but is not officially named on the lease agreement They may be a family member, significant other, or friend of the leaseholder Most organizations require residents over the age of majority to be leaseholders

Jobs to Be Done

Occupants need to follow property rules, often contribute financially, ensure their presence isn't problematic, and stay coordinated with the official leaseholder

Respect Property Rules: Adhere to the property's rules and regulations even if not bound by the lease

Contribute to Rent/Utilities: Often, they may pitch in for rent or utilities, especially if residing long-term.

Coordinate with Leaseholder: Stay informed about any updates or changes related to the property through the official leaseholder

Pain Points

They face challenges like lacking official rights to the property, potential eviction risks, dependency on the leaseholder, and feelings of uncertainty about their residence

Lack of Official Rights: Since they aren't on the lease, they have no formal rights to the space or ability to liaise with management

Dependency: Reliance on the leaseholder for any communication or decisions regarding the property

Motivation

Primary motivators are the prospects of affordable living, flexibility, staying close to loved ones, and temporary housing solutions during transitional phases

Residency: Residing with friends or family.

Positive Living Experience: Maintaining a good living experience and sense of community.

Success Metrics

Success for occupants is signified by a conflict-free stay, a good relationship with the leaseholder, managing their financial contributions, and achieving a sense of belonging in the property.

No Lease Violations: A smooth stay without any leaserelated conflicts or issues

Positive Relationship with Leaseholder: Maintaining a harmonious living situation with the official tenant.

Financial Stability: Being able to contribute to the household's expenses, even informally

Sense of Home: Despite their unofficial status, feeling at home in the space

Resident: Student

Overview

Student residents are enrolled in educational institutions and live in accommodations tailored to their academic and social needs. Tenant

Jobs to Be Done

For Student Residents, it's essential to maintain a study-friendly environment, actively participate in student housing events, ensure timely rent payments, and adhere to student-specific housing rules

Study Environment: Ensure their living space is conducive to studying.

Community Participation: Engage in student housing events, study groups, or communal activities

Prompt Rent Payment: Timely payment of rent, especially if not on a campus-provided housing plan

Lease Adherence: Abide by rules tailored to student housing, such as noise curfews.

Pain Points

Challenges of Student Residents include noise disturbances during crucial study hours, issues with shared facilities, unstable internet connections, and sometimes cramped living spaces

Noise Disturbances: Dealing with noisy neighbors during study hours.

Roommate Relationships: Dealing with interpersonal issues with roommates

Shared Facility Issues: Problems related to shared amenities, like kitchens or bathrooms

Internet Connectivity: Dependence on stable and fast internet for studies and assignments.

Space Constraints: Limited personal space in some student accommodations.

The main drives of Student Residents are academic success, opportunities for social interaction, affordable living, and a safe and secure environment

Academic Success: A living space that supports academic endeavors.

Where Motivation

Social Interactions: Opportunities for friendships and networking.

Affordability: Budget-friendly housing that doesn't strain student finances

Safety and Security: Especially for international or out-of-state students, a safe environment is crucial

Success Metrics

Student Residents measure the success of a rental by their ability to be academically productive, satisfaction from community events and interactions, believing they are getting good value for their rental payments, and consistently feeling safe and secure.

Academic Productivity: Ability to study effectively in their space

Social Engagement: Participating in and enjoying community events or activities

Value for Money: Satisfaction with what they get for what they pay

Safety Perception: Feeling safe and secure within their housing.

Overview

Residents have signed a lease and live in a building They’re different from occupants in that they are responsible for payment and general upkeep of the unit They’re also different from Leaseholders who do not live in a unit for which they have signed a lease

Jobs to Be Done

Leaseholder, Tenant, Renter Common Titles

Residents are chiefly concerned with prompt maintenance, lease renewals based on experience, engaging in community events, and ensuring timely rent payments.

Paying rent and other bills online

Purchasing or submitting proof of renters insurance.

Requesting maintenance and support.

Managing lease agreements

Pain Points

People of this role are often challenged by delays in maintenance, unexpected rent increases, conflicts with neighbors, and limited access to amenities

Lack of timely maintenance response.

Confusion regarding options for renters insurance, such as where to purchase or coverage details.

Inconvenient payment methods

Poor communication with property management

Motivation

The motivations of Residents lean toward a comfortable living space, a cohesive community vibe, getting value for their rent, and a secure living environment

Where

The desire for a seamless living experience. Wanting clear and easy channels for communication

Success Metrics

Residents measure success by the timeliness of maintenance services, service of the site team, quality of the community, availability of amenities and perks, and the overall value for money

To be Collected

Timely and effective resolution of reported issues. Responsive and effective service from the site team. Quality community events and activities

Availability of amenities and perks

Reference: Resident

Overview

A Reference provides testimony or validation about the character, reliability, and behavior of a potential tenant during the rental application process Their insights can significantly influence the landlord's or property management's decision regarding the applicant's suitability

Personal Reference, Character Reference, Employment Reference, Professional Reference, Landlord Reference, Previous Landlord Common Titles

Jobs to Be Done

A Reference's core duties revolve around providing genuine testimony about the applicant, being available for inquiries, ensuring honesty in feedback, and recognizing the responsibility of their role.

Provide Testimony: Offer insights about the applicant's character, responsibility, and trustworthiness

Availability: Be available for contact during the application process to answer questions from the landlord or rental agency

Honesty: Provide genuine and truthful feedback about the applicant

Understand Responsibilities: Recognize the weight and importance of their role in the rental process

Pain Points

References may struggle with accurately recalling details, balancing truthful feedback with advocacy, dealing with time constraints, and fearing potential repercussions of their testimony

Recall Bias: Struggling to remember specific incidents or details about the applicant

Balancing Honesty with Advocacy: Trying to be truthful while also wanting to help the applicant secure housing.

Time Constraints: Possibly being contacted multiple times or at inconvenient moments.

Potential Repercussions: Fear of negative outcomes or strained relationships if their testimony isn't entirely positive

Poor Software: Difficult-to-use application software can make providing a reference painful

Motivation

The main motivations of a Reference include helping the applicant, upholding their reputation, fulfilling a societal duty, and nurturing relationships

Supporting the Applicant: Desire to assist someone they know in securing a rental property

Building Trust: Upholding their own reputation as a reliable reference.

Relationship Maintenance: Strengthening or maintaining a positive relationship with the applicant.

Success Metrics

A positive rental outcome marks success for a Reference for the applicant, clear communication, retained trust throughout the process, and avoidance of negative fallout

Positive Outcome for Applicant: The applicant successfully secures the rental property.

Clear and Effective Communication: Providing all necessary information without confusion or ambiguity

Maintained Trust: Both the applicant and the landlord/agency find the reference's insights valuable and trustworthy.

No Negative Repercussions: The process unfolds without straining relationships or causing undue stress

Inspection Scheduler

Overview

Inspection Schedulers coordinate and organize property inspections They serve as the vital link between inspectors, property managers, tenants, and other stakeholders, ensuring inspections are timely, efficient, and fit within everyone's schedules.

Jobs to Be Done

Common Titles

Inspection Coordinator, Scheduler

Inspection Schedulers arrange inspection timings, serve as the main communication link, handle rescheduling needs, document all schedules, and collect post-inspection feedback.

Scheduling: Arranging inspection dates and times that align with both the inspector's and property manager's or tenant's availability

Communication: Serving as the primary point of contact for inspectors and those involved in the property inspection

Rescheduling: Adjusting schedules as needed due to cancellations, changes, or unexpected events

Documentation: Keeping detailed records of all scheduled, completed, and pending inspections.

Feedback Collection: Gathering feedback post-inspection to improve scheduling processes.

Pain Points

People in this role navigate challenges related to last-minute schedule changes, potential double bookings, delayed communication, and limited inspector availability during high-demand periods

Last-Minute Changes: Managing sudden cancellations or rescheduling requests

Overlapping Bookings: Avoiding double bookings or closely clustered inspection timings that strain inspectors.

Communication Delays: Dealing with stakeholders who are slow to respond or confirm schedules.

Resource Constraints: Balancing limited inspectors against high demand during peak periods.

Motivation

Inspection Schedulers are driven by the desire for scheduling efficiency, stakeholder contentment, impeccable organizational skills, and process improvement based on feedback

Efficiency: Streamlining the scheduling process for optimal productivity.

Stakeholder Satisfaction: Ensuring all parties are content with the scheduling process and timings

Organization: Maintaining clear and organized records of all inspection-related schedules

Continuous Improvement: Using feedback to refine and enhance the scheduling process.

Success Metrics

Inspection Schedulers gauge success through timely inspections, positive feedback from involved parties, a minimized rate of rescheduling, and accurate scheduling records

On-Time Inspections: Percentage of inspections that start as scheduled without delays.

Stakeholder Feedback: Positive responses from both inspectors and property-related stakeholders regarding scheduling efficiency

Rescheduling Rate: A low rate of inspection reschedules or cancellations.

Record Accuracy: Maintaining up-to-date and error-free scheduling records.

Groundskeeper

Overview

Groundskeepers are essential in enhancing the aesthetic appeal and functionality of multifamily properties. Responsible for maintaining the exterior and common areas, they ensure that the property grounds are clean, landscaped, and in good repair, providing residents with a pleasant and safe environment.

Porter, Grounds Maintenance Worker, Grounds Custodian, Landscape Maintenance Worker Common Titles

May Also Report To

Property Manager, Maintenance Supervisor

Jobs to Be Done

Routine Cleaning: Regularly clean common areas, walkways, parking lots, and other communal spaces

Landscaping Tasks: Mow lawns, prune shrubs, plant flowers, and maintain green spaces

Minor Repairs: Address small repair needs in common areas like fixing benches or playground equipment.

Waste Management: Ensure trash bins are emptied and manage larger disposal items.

Safety Checks: Identify and report potential hazards on the property grounds

Equipment Maintenance: Maintain and repair groundskeeping equipment as needed.

Seasonal Tasks: Handle tasks like leaf removal in fall or snow clearing in winter.

Pain Points

Groundskeepers often face challenges with outdated equipment, a fluctuating workload based on seasons, the physical demands of the job, and interactions with residents Many Technicians have a limited understanding of English, both verbal and written.

Limited Resources: Working with outdated or insufficient equipment.

Varied Workload: Fluctuations in tasks based on seasons or unforeseen issues

Physical Demands: The strenuous nature of the job can lead to fatigue or potential injuries

Resident Interactions: Occasional challenges when dealing with resident feedback or complaints.

Motivation

Groundskeepers are driven by pride in their work, ensuring resident satisfaction and collaborating effectively with the property team.

Aesthetics & Pride: Taking pride in keeping the property pristine and aesthetically appealing

Resident Satisfaction: Ensuring residents have a clean and safe environment.

Skill Development: Learning new landscaping techniques or equipment operations

Team Collaboration: Working harmoniously with property management and other staff

Success Metrics

The effectiveness of Groundskeepers is marked by the consistent appearance of the grounds, efficiency in task completion, proper equipment maintenance, and positive feedback from residents.

Grounds Appearance: Consistently well-maintained and clean property exteriors

Efficiency: Timely completion of tasks and assignments

Equipment Upkeep: Minimal downtime due to equipment maintenance.

Resident Feedback: Positive comments and minimal complaints regarding grounds appearance and safety.

Make Ready Technician

Overview

The Make Ready Technician is responsible for preparing apartment units between leases Their work is expected to be efficient and completed quickly to facilitate the move-ins of new residents

Common Titles

Turnover Specialist, Unit Preparation Technician

May Also Report To

Maintenance Supervisor, Maintenance Tech, Property Manager

Jobs to Be Done

Complete necessary repairs and improvements to units prior to residents moving in

Maintain an inventory of supplies and equipment needed for make-ready tasks

Avoids expenses by fixing rather than replacing items.

Assist with property curb appeal by picking up trash, performing general cleaning, and painting, as needed

Comply with safety and risk-management policies.

Requirements include knowledge of the following: Basic Drywall, Make Ready Skills, Basic Plumbing, Carpentry, Electrical

Pain Points

The name of the game is speed, so anything that prevents a Make Ready Technician from getting the job done quickly will cause frustration. Many Technicians have a limited understanding of English, both verbal and written

Lack of clear communication about what needs to be done

Inadequate time for thorough preparation

Difficulty in accessing necessary tools and supplies

Language constraints or low reading comprehension levels

Motivation

Make Ready Technicians are measured on their speed and efficiency, so they’re motivated to move fast and get things

right the first time. Any information that can prepare them for a job helps them do just that

Ensuring units are in perfect condition for new residents

Working efficiently and effectively.

Aligning with property management's standards and expectations

Success Metrics

The Make Ready Technician is measured on their ability to do quality work with the least expense and time investment

Turnaround time

Quality of work

Resource utilization

To be Collected

Collaboration and communication

Resident satisfaction

Maintenance Technician

Overview

Handles daily repairs and preventive upkeep They address immediate issues, from plumbing to electrical faults, and perform regular inspections to avert potential problems Frontline responders, they ensure residents live in safe, functional environments, collaborate with the maintenance manager, and engage directly with tenants

Maintenance Technician, Maintenance Supervisor, Handyman

May Also Report To

Maintenance Supervisor, Maintenance Tech, Property Manager

Jobs to Be Done

Maintenance Technicians carry out routine and emergency repairs in properties, from fixing appliances and handling plumbing issues to addressing HVAC concerns. They assist in property inspections to identify potential problems and collaborate with the maintenance manager to ensure the timely completion of tasks

Routine property maintenance

Responding to maintenance requests / Repairs or renovations

Pain Points

Maintenance Technicians often confront the challenges of dealing with multiple simultaneous repair requests, working with outdated or limited equipment, handling unexpected and complex maintenance emergencies, and addressing concerns from tenants while trying to complete their tasks efficiently Many Technicians have a limited understanding of English, both verbal and written

Balancing urgent requests with routine maintenance/ Budget constraints

Dealing with outdated or faulty equipment

Language constraints or low reading comprehension levels

Motivation

Maintenance Technicians are driven by the desire to keep properties in optimal condition, ensuring the safety and comfort of residents. A sense of accomplishment in fixing problems, learning new skills, and being recognized for their expertise motivates them

Keeping the property in good condition

Timely response to maintenance requests

Resident Satisfaction

Success Metrics

The success of Maintenance Technicians can be gauged by the timely completion of repair tasks, reduced callbacks for the same issue, positive feedback from residents and property managers, and maintaining a safe work environment without accidents or mishaps

Number of outstanding maintenance requests

Resident satisfaction with repairs

Efficiency in repairs

Maintenance Manager

Overview

Oversees the property's maintenance team and ensures the property is well-maintained and that all repairs are completed promptly and efficiently.

Common Titles

Maintenance Manager, Maintenance Supervisor, Facilities Manager

May Also Report To

Maintenance Regional, VP of Maintenance, Property Manager

Jobs to Be Done

Maintenance managers coordinate repair and preventive tasks across properties, manage maintenance staff, handle budgets for repairs and improvements, engage with contractors, ensure properties comply with safety and maintenance regulations, conduct regular inspections, and address feedback regarding maintenance concerns

Develop and implement maintenance procedures

Plan and manage all maintenance activities, including routine maintenance and urgent repairs.

Train and supervise maintenance staff.

Manage relationships with contractors and service providers

Pain Points

These managers often wrestle with limited resources, including manpower and budgets. They face challenges with high staff turnover, unexpected maintenance crises, varying expectations from tenants and property owners, and the ever-evolving maze of maintenance regulations

Handling urgent or unexpected repairs.

Balancing costs while maintaining the quality of repairs and maintenance.

Dealing with outdated or faulty equipment

Ensuring the maintenance team completes tasks on time and to a high standard

Motivation

Maintenance Managers want to ensure all properties are in peak condition, which enhances both the property's longevity and tenant satisfaction Additionally, they aim to streamline maintenance operations, effectively manage budgets, and uphold strict safety and regulatory standards

Ensuring the property is well-maintained and safe for residents

Running a well-organized, efficient maintenance team

Resolving maintenance issues promptly and minimizing disruption for residents

Maintaining positive relationships with other staff and residents.

Success Metrics

Maintenance Managers are considered successful when achieving minimal downtime or disruptions due to maintenance, staying within the budgetary confines, garnering positive feedback from residents regarding upkeep, maintaining a stable and content maintenance team, and having a spotless record in safety and regulatory compliance

Talk To be Collected

Response time & Resolution time

Number of outstanding maintenance requests

Cost efficiency of maintenance and repairs

Resident satisfaction with maintenance service

Regular inspections and maintenance activities are performed on schedule

Regional Maintenance Manager

Overview

A Regional Maintenance Manager oversees the upkeep, repair, and preventive maintenance of properties within a specific region This role ensures that all properties under their purview are in optimal condition, adhere to safety and compliance standards, and meet both company and resident satisfaction benchmarks

Common Titles

Regional Maintenance Supervisor, Area Maintenance Manager, District Maintenance Manager, Regional Facilities Manager

May Also Report To

VP

of Maintenance

Jobs to Be Done

Plan and Prioritize: Coordinate maintenance schedules and prioritize tasks across properties.

Oversee Teams: Manage and mentor maintenance staff, ensuring they are well-trained and equipped

Budget Management: Allocate and monitor maintenance budgets for each property

Vendor Relations: Source and liaise with vendors and contractors for specialized maintenance tasks

Ensure Compliance: Make certain properties adhere to local, state, and federal maintenance regulations

Regular Inspections: Conduct and oversee property inspections to identify maintenance needs.

Feedback Loop: Address resident and property manager feedback regarding maintenance issues.

Report & Analyze: Provide reports on maintenance activities, costs, and performance metrics

Pain Points

This role often grapples with resource limitations, staff turnover, unexpected maintenance emergencies, varied stakeholder expectations, and navigating the maze of maintenance regulations

Resource Constraints: Balancing limited resources (staff, equipment, budget) with diverse property needs

Staff Turnover: High turnover rates among maintenance personnel leading to training and continuity challenges

Unpredictable Issues: Handling sudden, unforeseen maintenance emergencies.

Diverse Stakeholder Expectations: Juggling expectations from property managers, residents, owners, and vendors. Regulatory Challenges: Navigating and ensuring compliance with evolving maintenance regulations.

Motivation

Driven by a desire for operational excellence across properties, they aim to maximize team efficiency, ensure budgetary efficiency, and strictly adhere to safety and compliance standards

Where

Operational Excellence: Ensuring all properties are in top condition, enhancing longevity and resident satisfaction

Team Efficiency: Building a competent, cohesive, and motivated maintenance team

Budget Efficiency: Delivering top-notch maintenance while adhering to or coming under budget.

Safety & Compliance: Ensuring all properties meet safety standards and regulatory requirements

Success Metrics

Success is gauged through consistent property uptime, effective budget management, positive resident feedback, high staff retention, and an impeccable compliance record.

Property Uptime: Minimized downtime or disruptions due to maintenance issues

Budget Adherence: Meeting or underspending the allocated maintenance budget

Resident Feedback: Positive resident feedback and reduced maintenance-related complaints.

Staff Retention: Low turnover rates and high staff satisfaction within the maintenance teams

Compliance Record: Few or no violations in terms of safety and regulatory standards

Concierge

Overview

A Concierge serves as the primary point of contact for residents and visitors, offering assistance, information, and services that enhance their living experience. Positioned typically at the front desk or lobby, they play a pivotal role in fostering community and ensuring the smooth operation of daily activities within the property.

Common Titles

Resident Services Associate, Lobby Attendant

May Also Report To

Property Manager

Jobs to Be Done

Concierges cater to resident needs, manage visitors, handle package deliveries, assist with amenity bookings, and act as communication liaisons between residents and property management

Resident Assistance: Addressing resident queries, helping with service requests, and providing local recommendations.

Visitor Management: Greeting, logging, and directing visitors, ensuring security protocols are maintained

Package Handling: Receiving, storing, and notifying residents of deliveries

Amenity Bookings: Assisting residents in booking shared amenities like communal spaces or fitness centers.

Communication Hub: Passing along messages from property management to residents and vice versa

Pain Points

People in this role often grapple with busy periods, conflict resolution with residents, potential resource limitations, and constantly evolving property protocols.

High Traffic Periods: Managing busy times with multiple simultaneous tasks, such as package deliveries, resident inquiries, and visitor check-ins.

Conflict Resolution: Handling disagreements or issues between residents or addressing complaints.

Resource Constraints: Operating with limited staff or tools during peak times

Ever-Changing Protocols: Adapting to updated property or security protocols and ensuring consistent implementation

Motivation

Conciergesareinspiredbydeliveringtop-tierservice, fosteringasenseofcommunity,stayinginformedabout localofferings,& navigatingdailyoperationalchallenges

ServiceExcellence:Providingimpeccableservice andassistancetoresidentsandvisitors

CommunityBuilding:Beinganintegralpartof creatingawelcomingandinclusiveresidential environment.

ContinuousLearning:Acquiringknowledgeabout localservices,events,andthebroadercommunity tobetterassistresidents

ProblemSolving:Efficientlynavigatingdaily challengesandensuringsmoothproperty operations.

Success Metrics

The performance of Concierges is measured by satisfied residents, operational fluidity, swift issue resolution, and consistent adherence to security and property protocols.

Resident Satisfaction: Positive feedback and reviews from residents regarding concierge services

Operational Efficiency: Smooth handling of daily tasks, from package management to visitor check-ins.

Issue Resolution: Quickly and effectively addressing and resolving resident or visitor concerns

Security Adherence: Ensuring all visitors and activities adhere to property security standards

Resident Services Coordinator

Overview

The Resident Services Coordinator is the lifeline to residents They understand the needs of residents and have their finger on the pulse of resident sentiment Because they are typically the ones handling complaints, they understand areas where improvements are most needed.

Common Titles

Resident Relations Manager, Community Coordinator

May Also Report To

Maintenance Supervisor, Maintenance Tech, Property Manager

Jobs to Be Done

The Resident Services Coordinator has a complex job that’s always changing. Whether it’s addressing a resident’s complaint, helping them find a restaurant they’ll enjoy, or organizing a social event that brings people together, they’re always at the center of things.

Organizing community events

Addressing resident complaints

Maintaining communication with residents

Pain Points

The coordinator may have to deal with a lot of negativity over the course of a day. They’re always looking for ways to keep residents happy and to provide solutions to their problems They can play an important role in turning annoyances into “wow” moments for residents

Dealing with difficult residents

Managing complaints

Ensuring resident engagement

Motivation

Generally, Resident Services Coordinators are measured by the satisfaction of their residents, the level of resident engagement, and how well they handle complaints and incidents

Where

Resident satisfaction

Number of community events

Response time to complaints

Success Metrics

This role can be a stepping stone to a more prominent role within a property, so in addition to solving problems and creating engagement, they may wish to prove they can handle increased responsibility

High resident satisfaction

Strong community engagement

Leasing Agent

Overview

The leasing agent conducts showings and assists in leasing a property That includes follow-ups with applicants and helping them with their applications, conducting credit and background checks, and ensuring leases are executed.

Common Titles

Leasing Agent, Leasing Consultant, Leasing Specialist

May Also Report To

Property Manager, Assistant Manager, Leasing Manager

Jobs to Be Done

A successful Leasing Agent balances the needs of property owners with those of residents to achieve occupancy and rental goals They’re multitaskers, organized, and have strong people skills

Assist with planning and implementation of community marketing plans and events to generate traffic

Respond to telephone and internet inquiries from residents and prospects to schedule virtual, self-guided, and in-person tours

Welcome and greet community guests and tour prospective residents throughout the property

Process rental applications, obtain required documents, schedule move-ins and prepare all lease file documents

Showing units

Following up with applicants and residents (renewals)

Processing applications

Conducting credit and background checks

Signing leases

Pain Points

Leasing Agents can face stiff competition from other properties so they may find it difficult to find new residents As they are customerfacing, they can experience the usual problems from being in a customer service role, such as difficult applicants, no-shows, and tirekickers

Resident turnover

Difficulty attracting residents

Time-consuming application processes

Motivation

Many Leasing Agents are paid a commission as part of their compensation structure, which may be structured as a percentage of the rent amount, a flat rate, or based on meeting certain goals They want to move quickly on prospects and close deals immediately

Filling vacancies quickly

Maintaining a high occupancy rate

Maintaining a high renewal rate

Success Metrics

Leasing Agents are measured on their ability to attract and convert high-quality applicants, and to sell current residents on renewals

Vacancy rates

Lease renewals

Time to fill a vacancy

Leasing Manager

Overview

The Leasing Manager is part salesperson, part customer service representative, and part marketer Their job responsibilities include attracting and managing prospects, conducting showings and selling the community, and converting applicants to residents by ensuring the application process is smooth and efficient Leasing managers may also manage a group of Leasing Agents who are responsible for the day-to-day tasks of attracting and converting prospects.

Jobs to Be Done

Common Titles

Leasing Manager, Leasing Director, Leasing Supervisor, Regional Leasing Manager

May Also Report To

Property Manager, Assistant Manager

A Leasing Manager trains and oversees the onsite leasing functions and directs the sales efforts of an apartment community Leasing Managers are responsible for maximizing occupancy and rents They do this by ensuring they and their team deliver excellent customer service to convert prospects into residents They are additionally responsible for understanding the local rental market and using that knowhow to shape strategies for converting leads and setting pricing strategies

Develop and implement leasing strategies

Oversee the entire leasing process, from showing units to signing lease agreements

Manage renewals and retain residents

Work to optimize occupancy while maximizing effective leased rent

Train and supervise leasing agents

Keep updated records of lease agreements and rental applications

Understand local market dynamics and set rents and concessions accordingly.

Pain Points

Leasing Managers have a challenging role that can sometimes be made worse by external factors, such as soft demand in their market. They must closely manage their team to ensure policies are followed and that applications and leases are accurate and complete. If that wasn’t enough, Leasing Managers must ensure they and their staff navigate laws and regulations while selecting the right applicants

Struggling to fill vacant units

Risk of approving residents who are problematic or unable to pay rent

Dealing with difficult prospective residents

Ensuring the leasing team meets its goals

Keeping up with changing laws and regulations related to leasing and fair housing

Motivation

Leasing Agents and their teams often earn a commission as part of their compensation, so missing leasing targets is disappointing and financially painful They want to move quickly and get deals done!

Meeting or exceeding leasing targets.

Ensuring a smooth and efficient leasing process

Contributing to the profitability of the property through high occupancy rates

Providing excellent customer service to prospective and current residents.

Success Metrics

Leasing Managers are measured on their occupancy and renewal rates, the speed and effectiveness of converting prospects, and the satisfaction of their customers.

Occupancy and vacancy rates.

Lease renewal rates

Time to fill vacant units

Resident satisfaction levels

Assistant Property Manager

Overview

The Assistant Property Manager (APM) is like the right hand of the Property Manager, helping oversee dayto-day operations within a community. This includes leasing, marketing, maintenance, resident relations and administrative tasks.

Common Titles

Deputy Property Manager, Property Management Assistant, Property Operations Coordinator

Property Manager May Also Report To

Jobs to Be Done

Supporting the property manager in daily operations

Handling administrative tasks such as lease agreements, rent collection, and tenant communication.

Coordinating with various teams, including maintenance and leasing

Performs marketing and leasing functions to maintain budgeted or greater occupancy for the property

Implements effective resident retention programs, such as move-in and service follow-up

Maintains good resident relations and the ability to respond to resident concerns to avoid escalation of the problem

Collect rents and make daily deposits and reconciliations monthly

Responsible for processing invoices

Monitor renewals. Distribute and follow up on renewal notices

Prepare paperwork for move-ins in accordance with the property’s housing regulations and RPM's policies

Pain Points

APMs are on the run all day long, so they’re always looking for ways to stay in the know and to get ahead of problems while reducing noise.

Juggling multiple tasks and responsibilities.

Difficulty in coordinating between different teams and departments

Challenges in keeping up with regulatory changes and compliance

Motivation

APMs are on a leadership track, and helping lead a smooth-running building with happy residents is their best path to a Property Manager role. Helping them organize the chaos puts them in the best position to succeed.

Reducing Delinquency

Creating a smooth and efficient operation within the property.

Supporting residents and addressing their needs

Growing professionally

Success Metrics

Success in this role is contingent on the APM being able to understand what’s going on in their building, coordinate with team members to solve problems, make improvements, and intervene when necessary.

Tenant retention rate:

Rent collection efficiency:

Response time to tenant requests

Compliance rate

Team coordination

Budget management

Property Manager

Overview

Responsible for day-to-day operations and maximizing the property's performance. This role provides exceptional customer service to both residents and prospects in order to increase renewals, revenue and overall satisfaction The Property Manager supervises onsite staff and is responsible for leading, developing and engaging them in order to be successful while minimizing employee turnover This individual will be strategic in their efforts to increase revenue and provide a Return on Investment (ROI) for the company

Common Titles

Property Manager, Community Manager, Property Administrator

May Also Report To

Regional Property Manager

Jobs to Be Done

Managing leasing and marketing efforts to attract and retain residents

Enforcing lease agreements and dealing with any legal or compliance issues

Rent collection and account management

Handling resident concerns

Coordinating maintenance

Managing vacancies

Coordinating with vendors and contractors for repairs and maintenance work

Maintaining accurate records and reports on the property's performance

Pain Points

Property Managers have a never-ending to-do list. Staff members can be difficult to hire and retain, making it even more difficult to keep residents happy

Dealing with difficult residents

Managing vacancies

Staffing issues

Motivation

Property managers can’t do it all themselves To run a property well, they must create an environment where site teams can be trusted to do their jobs and satisfy residents

Resident satisfaction

Operational efficiency

Bonuses (awarded for cost savings)

Success Metrics

Property managers are typically measured on the occupancy and efficiency of their building and their ability to collect rent and fees Factored into that will be the satisfaction of residents and site teams They essentially have to keep everyone happy!

Talk To be Collected

Occupancy rates

Net operating income (NOI)

Resident retention, timely rent collection, cost efficiency

Site team retention and satisfaction

Regional Property Manager

Overview

A regional property manager oversees a portfolio of properties within a specific region They are responsible for ensuring that each property is performing well and meeting its financial and operational goals

Common Titles

Regional Manager, Operations Manager, Area Manager

May Also Report To

Vice President of Operations

Jobs to Be Done

Developing and implementing a strategic plan for the region in line with company goals

Monitoring the financial performance of each property and making recommendations for improvements

Providing leadership and guidance to property managers and other staff within the region

Ensuring that all properties are in compliance with local, state, and federal regulations

Coordinating with other departments, such as marketing and finance, to ensure that the region is meeting its overall objectives

Identifying new opportunities for growth and expansion within the region

Pain Points

Regional property managers face the daunting task of addressing the diverse needs and challenges inherent to multiple properties Meeting individual property financial objectives is a constant juggle, compounded by issues such as high staff and resident churn Their role also demands adept relationship management as they interface with various stakeholders, from property owners and investors to local authorities

Juggling the needs and challenges of multiple properties.

Ensuring each property is meeting its financial goals.

Dealing with high turnover rates in residents or staff

Managing various stakeholder relationships, including with property owners, investors, and local authorities

Motivation

Regional Property Managers ensure properties in their portfolio are profitable and that teams achieve excellence They want to elevate resident satisfaction across all properties, driving high retention rates.

Ensuring each property in their region is well-managed and profitable

Supporting and guiding property managers to success

Maintaining a high level of resident satisfaction across all properties.

Contributing to the growth and success of the overall portfolio.

Success Metrics

The effectiveness of Regional Property Managers is measured by the financial health of properties within their region, resident satisfaction and retention rates, staff performance, and occupancy rates

Financial performance of properties within their region (such as net operating income, rental income, and adherence to budget)

Resident satisfaction rates across their portfolio.

Staff retention and performance.

Occupancy rates across their portfolio.

Compliance with property regulations and company policies across all properties

Marketing Manager

Overview

A Marketing Manager specializes in creating, implementing, and monitoring marketing campaigns to attract potential tenants and promote properties Their role typically merges creativity with analytics, ensuring campaigns resonate with target demographics and yield the desired results

Jobs to Be Done

Common Titles

NA

May Also Report To

Vice President of Marketing

Meet Occupancy and Revenue Goals: Meet budgeted occupancy and revenue by managing a portfolio of multifamily assets through the development and implementation of strategic marketing programs

Content Development: Develop compelling content for various platforms such as websites, social media, and print materials.

Social and Search Performance: Create, troubleshoot, and provide support on Social Media platforms, Search Engine listings/business dashboards and map listings.

Market Analysis: Analyze market trends, competitors, and customer feedback to inform marketing decisions

Campaign Analysis: Monitor and analyze the effectiveness of marketing efforts, making necessary adjustments

Team Leadership: Lead a group of marketers, providing structure, support, and guidance

Stakeholder Communication: Regularly communicate with ownership groups, asset managers, and regional executive team members regarding marketing performance of any particular asset and/or overall portfolio.

Pain Points

Resource Limitations: Achieving marketing goals with finite resources, including budget and manpower.

Evolving Digital Platforms: Navigating the ever-changing landscape of social media and digital advertising

Diverse Property Portfolio: Crafting unique marketing strategies for a range of properties with different selling points and target demographics

Measuring ROI: Accurately assessing the return on investment for various marketing initiatives

Motivation

The motivations of Marketing Managers include effective audience engagement, enhancing the company's brand, continuous professional growth, and inter-departmental collaboration

Audience Engagement: Developing campaigns that effectively resonate with and engage the target demographic

Brand Enhancement: Strengthening the company's brand identity and positioning in the market.

Continuous Learning: Staying updated with the latest marketing trends and tools

Collaboration: Working closely with sales, leasing, and other departments to achieve shared goals.

Success Metrics

Success for Marketing Managers is gauged through lead conversions, extensive campaign reach, strong digital engagement, and positive audience feedback

Lead Conversions: Number of leads converted from marketing campaigns.

To be Collected

Campaign Reach: Extent and effectiveness of campaign reach across platforms

Engagement Rates: High engagement metrics on digital platforms, including clicks, shares, and comments

Feedback and Reviews: Positive tenant or investor feedback and reviews as a result of marketing efforts.

Marketing Director

Overview

A Marketing Director is tasked with crafting and executing effective marketing strategies to promote properties, attract potential tenants, and elevate the brand's presence in the market Their role encompasses strategy and execution, balancing creative aspects with data-driven decision-making

Jobs to Be Done

Common Titles

Marketing Manager, Head of Marketing

May Also Report To

Vice President of Marketing

Strategy: Develop and implement comprehensive marketing strategies in line with company objectives.

Lead Generation: Drive lead generation to support the achievement of budgeted occupancy and revenue.

Brand Management: Uphold and promote the brand's identity, ensuring consistency across all marketing materials and channels, including advertising, digital, social, environmental, etc.

Campaign Oversight: Oversee advertising campaigns, events, and other promotional activities.

Thought Leadership: Stay updated on industry trends and competitors' strategies

Team Leadership: Lead a team of marketing professionals who execute effective marketing activities that drive lead generation.

Pain Points

They often grapple with budgetary limitations, evolving market trends, diverse audience needs, and the rapidly advancing digital marketing arena

Budget Constraints: Delivering optimal marketing results on limited budgets

Shifting Market Dynamics: Rapid changes in real estate trends and consumer behaviors.

Diverse Audience Segments: Tailoring marketing approaches for various tenant demographics and investor groups.

Digital Evolution: Keeping up with the fast-paced digital marketing landscape.

Motivation

Their key drivers include elevating brand visibility, engaging target audiences, staying innovative in their approaches, and fostering team success.

Brand Visibility: Enhancing the company's presence and reputation in the market

Tenant and Investor Engagement: Crafting campaigns that resonate and engage target groups effectively.

Innovation: Adopting new technologies and methodologies to stay ahead in the marketing game

Team Growth and Success: Leading and nurturing a highperforming marketing team.

Success Metrics

Successful Marketing Directors witness robust lead generation, high brand recognition, positive campaign ROI, and engaging interaction metrics.

Lead Generation: Quantity and quality of leads generated for property viewings or investor inquiries

Brand Recognition: Positive brand recognition and recall in target markets.

Campaign ROI: Effective return on investment for marketing campaigns and initiatives

To be Collected Follow Industry Expert

Engagement Metrics: Trackable engagement metrics in website visits, social media interactions, event attendance.

Learning & Development Manager

Overview

A learning and development manager oversees the training and growth of all employees in an organization An L&D manager develops the talents of employees to their full potential by focusing on individual and organizational needs Large corporations usually have an L&D department, while smaller companies assign these duties to a human resources (HR) manager or the marketing dept

Common Titles

Learning & Engagement Manager, Learning Manager

May Also Report To

Vice President of Operations, Human Resources Director, VP of Marketing

Jobs to Be Done

Training Strategy and Design: Design, develop and deliver training strategies and programs by applying exceptional skills in facilitation, program design, curriculum development, and partner resources to address the needs of individuals and teams.

Training Operations: Ensure that ongoing training programs run smoothly and that employees can access the resources needed to improve their skills and knowledge

Continuous Improvement: Monitor and collect employee feedback and update content to improve learning and engagement programs continuously

Program Evaluation: Demonstrate training effectiveness through systematic program evaluation and continuous improvement strategies, including participation rates and survey results.

Communication: Effectively communicate across the L&D team and the rest of the organization to align learning and engagement strategies with company goals

Thought Leadership: Identify new training techniques, methods, and tools (eg, digital) to ensure best practices are being implemented

Pain Points

Changing Industry Trends: Keeping pace with evolving industry trends and ensuring training content remains relevant

Resource Constraints: Creating multiple types of learning opportunities with limited resources, including time, budget, and tools, to deliver high-quality training.

Employee Engagement: Capturing and maintaining the interest and engagement of diverse employee groups during training sessions and dealing with the consequences of missed training

Measuring Impact: Quantifying the impact of training interventions on employee performance and organizational goals

Motivation

They are driven by a desire to contribute to employee and organizational success, stay informed about learning trends, and create a positive, supportive work environment.

Employee Success: Deriving satisfaction from contributing to employees' growth and development

Organizational Impact: Seeing the tangible impact of learning initiatives on organizational success and growth

Continuous Learning: Staying abreast of the latest learning trends and technologies to enhance training delivery.

Positive Work Environment: Creating an environment where employees feel supported and are encouraged to learn and grow

Success Metrics

Measured by improvements in employee performance, high training evaluation scores, increased employee retention, and demonstrable skill acquisition

Employee Performance Metrics: Improvement in performance metrics post-training interventions.

Customer Satisfaction: Measurably high rates of satisfaction after customer-employee interactions

Training Evaluation Scores: Receiving high evaluation scores from participants on training relevance and effectiveness

Employee Retention: High employee retention and lower turnover rates attributed to effective learning and development initiatives.

To be Collected Follow Industry Expert

Skill Acquisition: Measurable improvement in employee skills and competencies post-training and the success of cross-training activities

VP of Marketing

Overview

The VP of Marketing is a strategic leader who oversees the entire marketing department, ensuring alignment with the company's objectives This role typically bridges the gap between high-level strategy and on-the-ground execution, guiding the marketing team toward optimal outcomes

Common Titles

SVP, Marketing (Senior Vice President), Head of Marketing Strategy

May Also Report To

Chief Executive Officer, Chief Organizational Officer

Jobs to Be Done

VPs of Marketing are primarily invested in shaping marketing strategy, leading the marketing team, overseeing budgets, and ensuring alignment with organizational goals.

Define and refine the overarching marketing strategy for the organization

Lead, mentor, and grow the marketing team

Allocate and manage the marketing budget, ensuring optimal ROI.

Liaise with other senior executives, ensuring marketing's alignment with overall business goals.

Pain Points

They often confront challenges in resource allocation, rapidly changing market dynamics, coordinating with other departments, and managing varied stakeholder expectations

Balancing the need for impactful marketing with budgetary constraints

The continuously evolving landscape of real estate and tenant preferences.

Ensuring smooth collaboration between marketing and other departments like sales, operations, and finance.

Addressing the diverse and sometimes conflicting expectations of investors, executives, and the board

Motivation

Their driving forces center around brand leadership, cultivating a stellar marketing team, making data-informed decisions, and contributing to the business's growth

Positioning the company as a leader in the multifamily real estate market.

Building a high-performing, cohesive marketing team. Harnessing analytics and insights to guide strategic decisions

Directly contributing to the company's growth and profitability through effective marketing.

Success Metrics

A successful VP of Marketing will witness enhanced brand impact, demonstrable marketing ROI, strong lead generation and conversion rates, and elevated team performance

Elevated brand recognition and reputation in the industry Tangible return on marketing investments. High volume of qualified leads that convert into tenants or investors

Elevated performance metrics and growth trajectories for the marketing department

VP of Maintenance

Overview

The VP of Maintenance oversees all aspects of Facilities and Maintenance for multifamily apartments across a company’s properties. This includes maintenance and training programs, best practices and procedures, maintenance and engineering due diligence, and CAPEX budgets.

Common Titles

VP of Facilities Management

May Also Report To

Chief Executive Officer, Chief Organizational Officer

Jobs to Be Done

Serve as a point of contact in the development of plans for organizing long & short-term maintenance programs and budgets

Work with Learning & Development teams to create training programs for maintenance teams

Identify & implement best practices, policies and procedures for maintenance teams

Determine expectations for assessing property needs, safety issues, immediate needs, etc

Manage due diligence from the maintenance/engineering side of all proposed acquisitions of properties

Develop CAPEX budgets for properties, including 5-year plans

Create materials and conduct training for long-term maintenance items at properties

Identify opportunities for cost savings such as light replacement programs, energy savings, water savings, etc

Travel between regions to meet with maintenance teams, communicate expectations and check in on progress

Create a pathway for maintenance team members to advance and grow

Pain Points

Lack of qualified and motivated maintenance team members

High turnover, low job satisfaction, and constant hiring

Limited budgets, leading to prioritization dilemmas

Aging infrastructure requiring frequent or extensive repairs

Third-party vendors and contractors who must be constantly monitored to deliver quality work on time and within budget.

Ensuring regulatory compliance across a number of regions

Unplanned emergencies and natural disasters

Lack of timely and transparent communication with team members, other departments, residents, and other stakeholders

Technology that’s poorly designed, unreliable, or suffers from low adoption

Motivation

Ensuring properties are well-maintained to prolong their lifespan and reduce long-term costs

Tenant satisfaction from a well-maintained property

Meeting safety standards to avoid accidents and legal implications.

Streamlining maintenance operations to reduce costs and improve response times

Building a strong team and showcasing the value of the maintenance department to the organization's leadership

Identifying and implementing new technologies or best practices to enhance maintenance operations.

Implementing green and sustainable practices in maintenance to reduce environmental impact

Success Metrics

Reduced and predictable maintenance costs

Increased operational efficiency

High resident satisfaction

Positive safety record

Low team turnover and high job satisfaction

High longevity of assets

High performance and reliability from contractors and vendors

Effective use of software to improve operations and reporting

Meeting or exceeding sustainability goals

VP of Operations

Overview

The VP of Operations is responsible for the overall operational direction and strategy of the company They oversee diverse functions such as property management, facility maintenance, tenant relations, etc Their decisions are pivotal in optimizing company performance, profitability, and growth.

Common Titles

VP of Real Estate Operations, Director of Operations, Chief Operating Officer

May Also Report To

Chief Executive Officer, PMC President

Jobs to Be Done

The VP of Operations formulates operational strategies in alignment with company objectives, leads multifunctional teams, drives initiatives for operational efficiency, and collaborates with a wide range of stakeholders

Strategic Direction: Outline and implement operational strategies that align with company goals.

Team Leadership: Lead and mentor teams across various functions, from property management to maintenance

Operational Efficiency: Identify and drive initiatives to improve operational efficiency and reduce costs

Stakeholder Collaboration: Collaborate with other senior executives, investors, and stakeholders to ensure alignment of strategies

Pain Points

VPs of Operations often grapple with resource limitations, challenges posed by rapid scaling, varied stakeholder expectations, and evolving regulatory landscapes

Resource Constraints: Balancing budgets and resources in an often-fluctuating market

Scaling Challenges: Addressing the growing pains and challenges of a rapidly expanding portfolio.

Diverse Stakeholder Expectations: Meeting the diverse expectations of tenants, investors, employees, and other stakeholders

Regulatory Compliance: Keeping up with ever-changing real estate regulations and ensuring company-wide compliance

Motivation

Their key motivators include propelling company growth, achieving unparalleled operational proficiency, ensuring team success, and gaining industry-wide acclaim.

Company Growth: Driving the company's growth and expansion in the market

Operational Excellence: Achieving best-in-class operational efficiency and tenant satisfaction.

Team Success: Empowering and developing teams for optimal performance and job satisfaction.

Industry Recognition: Being recognized as a leader and innovator in the property management or REIT industry

Success Metrics

Successful VPs of Operations will see growth in their portfolios, meet or surpass operational KPIs, maintain high team morale and compliance, and adeptly manage risks.

To be Collected

Portfolio Performance: Successful management and growth of the property portfolio, leading to increased profitability

Operational KPIs: Meeting or exceeding operational key performance indicators like tenant satisfaction, occupancy rates, and maintenance response times

Employee Retention and Satisfaction: High levels of team morale and low turnover rates

Compliance and Risk Management: Ensuring minimal violations and mitigating potential risks.

VP of Capital Projects

Overview

The VP of Capital Projects oversees the strategic planning and execution of capital projects, including renovations and major repairs within the property portfolio Their goal is to enhance the value and appeal of the properties while optimizing the budget and ensuring the timely completion of projects.

Common Titles

Director of Capital Projects, VP of Capital Projects

May Also Report To

Chief Operating Officer (COO), Chief Investment Officer (CIO), or Chief Executive Officer (CEO)

Jobs to Be Done

The VP of Capital Projects focuses on strategic planning, budget management, vendor relations, and fostering collaboration across teams to achieve project goals and enhance portfolio value.

Project Planning and Strategy: Develop and implement strategic plans for capital projects to enhance property value

Budget Management: Oversee budget planning and control to optimize expenditure and ensure project profitability

Vendor and Contractor Management: Manage relationships with vendors and contractors to ensure project quality and timely delivery.

Cross-functional Collaboration: Collaborate with various internal teams, such as Asset Management and Operations, to align project goals and expectations

Pain Points

Challenges they often encounter include budget overruns, project delays, maintaining quality assurance, and effective resource allocation across multiple projects

Budget Overruns: Managing unforeseen costs and avoiding budget overruns

Project Delays: Navigating project delays due to contractor issues or unforeseen circumstances

Quality Assurance: Ensuring project quality meets the expected standards and aligns with property goals.

Resource Allocation: Allocating resources effectively across multiple projects to ensure successful completion.

Coordination: Coordinating with asset management, acquisitions, and property management teams to align project goals and strategies

Motivation

They are driven by the aim to enhance property value, achieve project efficiency, excel in team leadership, and gain recognition in the industry

Value Enhancement: Enhancing the overall value of the property portfolio through successful capital projects.

Project Efficiency: Streamlining processes to achieve project efficiency and timely delivery

Team Leadership: Leading a skilled team of project managers and other professionals to achieve project goals.

Industry Recognition: Being recognized as a leader in managing capital projects within the real estate industry

Success Metrics

Their success can be measured through successful project completion, increased portfolio value, stakeholder satisfaction, and achieving cost efficiency in project execution

To be Collected

Project Completion: Successful and timely completion of capital projects within budget.

Portfolio Value: Increased property portfolio value through strategic capital improvements

Stakeholder Satisfaction: High satisfaction levels among internal stakeholders and property owners

Cost Efficiency: Optimized project costs and maximized return on investment on capital projects.

VP of Asset Management

Overview

The VP of Asset Management is responsible for steering the strategic direction and overall performance of the company's real estate portfolio They play a critical role in optimizing asset value, financial returns, and portfolio growth while collaborating with various internal teams and external stakeholders.

Common Titles

Director of Asset Management, Asset Management Executive, VP of Asset Management.

May Also Report To

Chief Investment Officer (CIO), Chief Executive Officer (CEO), or Chief Operating Officer (COO)

Jobs to Be Done

The VP of Asset Management works on crafting portfolio strategies, overseeing financial analysis and reporting, conducting market analysis, and fostering stakeholder collaboration to enhance asset value and portfolio growth

Portfolio Strategy: Develop and implement strategies to maximize the performance and value of the portfolio

Asset Performance: Oversee asset performance, manage risk, optimize revenue, and maintain strong stakeholder relationships.

Financial Analysis & Reporting: Oversee financial analyses, budgeting, & reporting to ensure profitable asset performance

Market Analysis: Analyze market trends and data to inform asset management decisions

Collaborate with internal teams & external partners to align objectives and drive portfolio success

Pain Points

The VP of Asset Management frequently tackles challenges arising from market fluctuations, resource allocation dilemmas, aligning various stakeholder expectations, and adhering to industry regulations.

Market Fluctuations: Navigating the complexities of volatile real estate markets.

Resource Allocation: Making informed decisions on capital expenditure and resource allocation

Stakeholder Alignment: Ensuring alignment of goals and expectations among various stakeholders Regulatory Compliance: Keeping abreast of, and complying with, changing industry regulations and standards.

Motivation

People in this role are typically motivated by the prospects of portfolio growth, asset optimization, team leadership excellence, and achieving a prominent position in the industry

Portfolio Growth: Driving the growth and diversification of the real estate portfolio.

Asset Optimization: Enhancing asset value through strategic management and improvements

Team Leadership: Leading a high-performing asset management team-

Industry Recognition: Aspiring to be recognized as a leader in the real estate asset management space.

Success Metrics

The success of a VP of Asset Management is gauged through improved asset performance, portfolio diversification, stakeholder satisfaction, and regulatory compliance

To be Collected

Asset Performance: Demonstrated growth in asset value and financial returns.

Portfolio Diversification: Successful expansion and diversification of the portfolio.

Stakeholder Satisfaction: Positive feedback and strong relationships with stakeholders

Regulatory Compliance: Maintaining compliance with industry regulations and standards.

VP of Construction

Overview

The VP of Construction takes charge of overseeing all construction activities within the property portfolio. Their role is pivotal in ensuring that construction projects align with the company's strategic goals, are completed on time, within budget, and meet the requisite quality standards

Common Titles

Vice President of Construction, Head of Construction, Senior Director of Construction

May Also Report To

Chief Operating Officer (COO), Chief Executive Officer (CEO), or Chief Investment Officer (CIO)

Jobs to Be Done

The VP of Construction is tasked with overseeing construction projects, managing budgets, fostering contractor and vendor relations, and ensuring compliance with industry regulations and permitting processes.

Project Oversight: Oversee the entire lifecycle of construction projects, ensuring alignment with organizational objectives

Budget and Financial Management: Manage budgets meticulously to prevent cost overruns and maximize project profitability

Contractor and Vendor Management: Develop and maintain fruitful relationships with contractors and vendors, ensuring the highest standards of work and timely delivery.

Regulatory Compliance and Permits: Ensure adherence to industry regulations and secure necessary permits for construction activities

Pain Points

They often face challenges related to budget overruns, construction delays, quality control issues, and navigating regulatory hurdles which may impede project timelines

Budget Overruns: Managing unexpected costs and mitigating the risks of budget overruns.

Construction Delays: Addressing unforeseen delays that can push back project timelines.

Quality Control: Maintaining high quality standards amidst various challenges, including contractor issues.

Regulatory Hurdles: Navigating complex regulatory landscapes and securing the necessary permits in a timely manner

Motivation

They are motivated by the opportunity to influence the strategic direction of the portfolio, lead and develop a highperforming team, achieve industry excellence, and drive innovation in construction projects

Where

Influencing the strategic direction of the property portfolio through successful construction projects.

Developing a cohesive and high-performing team capable of executing complex construction projects

Striving to set benchmarks of excellence within the construction segment of the real estate industry

Driving innovation to enhance efficiency and profitability in construction projects.

Success Metrics

Their success is assessed through the lens of project completion within timelines and budget, maintaining quality standards, achieving stakeholder satisfaction, and adherence to regulatory requirements

Real Talk

To be Collected

Strategic Influence: Influencing the strategic direction of the property portfolio through successful construction projects

Team Leadership and Development: Developing a cohesive and high-performing team capable of executing complex construction projects

Industry Excellence: Striving to set benchmarks of excellence within the construction segment of the real estate industry

Innovation and Efficiency: Driving innovation to enhance efficiency and profitability in construction projects.

Director of Ancillary Services

Overview

The Director of Ancillary Services focuses on enhancing and managing additional services that increase property value and resident satisfaction. They oversee non-core services like parking, laundry, community events, pet services, and other amenities that contribute to the overall living experience and generate additional revenue.

Common Titles

Head of Additional Services, Amenities Director, Ancillary Revenue Manager

May Also Report To

Chief

Executive Officer

Jobs to Be Done

Responsible for strategically implementing and managing programs and services that increase NOI, strengthen community efficiencies, minimize risk, and enhance the resident experience

Service Development & Management: Identifying, developing, and managing a range of ancillary services that cater to residents' needs and preferences

Policy and Training Development and Delivery: Creates standard policies and procedures and training material for ancillary programs such as renters insurance, utility management, security deposit alternatives, etc

Vendor Coordination: Collaborating with external vendors or service providers to offer quality ancillary services.

Revenue Optimization: Strategizing to maximize revenue from these services without compromising resident satisfaction.

Market Analysis: Researching current trends and resident feedback to align services with market demands

Performance Monitoring: Tracking the performance, profitability, and resident satisfaction of each ancillary service

Pain Points

Challenges include ensuring high resident engagement with services, balancing service costs with benefits, maintaining vendor quality, and adapting to changing market and resident needs.

Resident Engagement: Ensuring ancillary services are utilized and appreciated by residents.

Balancing Costs and Benefits: Offering valuable services without significantly increasing operational costs or rental prices

Vendor Reliability: Managing external vendors to maintain service quality and consistency

Market Variability: Adapting to changing resident preferences and market trends.

Motivation

They are motivated by the drive to enhance the resident living experience, generate additional revenue, innovate in service offerings, and achieve operational efficiency in service management.

Enhanced Resident Experience: Providing services that significantly improve the quality of living for residents

Revenue Growth: Creatively generating additional revenue streams for the property-

Innovation in Services: Introducing unique and trendsetting services that set the property apart.

Operational Excellence: Efficiently managing ancillary services for optimal performance and profitability

Success Metrics

Their effectiveness is measured by the utilization of services by residents, revenue generated, positive resident feedback, and the efficient operation of these services.

Service Utilization Rates: How frequently and consistently residents use the offered services

Revenue Generation: Additional income generated from ancillary services

Resident Satisfaction: Positive resident feedback and low complaint rates regarding services.

Operational Efficiency: Smooth running of services with minimal disruption and cost-effectiveness

Director of Acquisitions

Overview

The Director of Acquisitions plays a pivotal role in identifying, evaluating, and securing valuable real estate properties for the organization. They are responsible for the expansion and diversification of the portfolio, ensuring the assets acquired align with the company's strategic growth objectives.

Director of Real Estate Acquisitions, Head of Acquisitions, Senior Acquisitions Manager, VP of Acquisitions, Acquisitions Executive Common Titles

May Also Report To

Chief Executive Officer

Jobs to Be Done

The Director of Acquisitions is dedicated to identifying potential properties, conducting rigorous financial analyses, leading acquisition negotiations, and guiding the acquisitions team

Property Identification: Spot and assess potential properties for acquisition based on market trends and company criteria

Financial Analysis: Undertake financial modeling and evaluations to determine the potential ROI of properties

Negotiations: Lead and manage negotiations with sellers, brokers, or agents

Team Leadership: Guide and mentor the acquisitions team, ensuring alignment with strategic goals.

Pain Points

They grapple with unpredictable market conditions, complexities in due diligence, fierce competition for assets, and challenges in integrating new acquisitions

Market Volatility: Dealing with fluctuating real estate markets that impact property valuations

Due Diligence Complexities: Ensuring thorough and accurate due diligence is conducted on potential acquisitions

Competition: Encountering intense competition for prime properties

Integration Challenges: Ensuring smooth integration of new acquisitions into the existing property portfolio.

Motivation

Their primary drivers include ambitious portfolio growth, achieving strategic acquisition goals, leading a high-performing team, and gaining industry recognition

Portfolio Growth: Expanding the company's real estate portfolio in a manner that brings value and growth

Strategic Wins: Securing acquisitions that align perfectly with the company's vision and objectives

Team Achievement: Seeing their acquisitions team excel and deliver results

Industry Recognition: Being recognized as a leader and influencer in the real estate acquisitions sector.

Success Metrics

The success of a Director of Acquisitions is marked by the volume and value of acquisitions, positive ROI, accurate due diligence outcomes, and successful property integration

Acquisition Volume: Number and value of properties acquired

ROI on Acquisitions: Positive return on investments made. Due Diligence Accuracy: Minimal post-acquisition surprises or pitfalls

Integration Success: Seamless transition and integration of new properties into the portfolio

Asset Manager

Overview

The Asset Manager oversees the financial and operational performance of a property or portfolio on behalf of the owners or investors They are tasked with maximizing the value of the assets and achieving the owner's financial goals

Asset Manager, Investment Manager, Real Estate Portfolio Manager, Fee Manager, Regional Asset Manager, Portfolio Asset Manager Common Titles

May Also Report To

Chief Financial Officer

Jobs to Be Done

Analyzing market data to make informed decisions on pricing, marketing, and leasing strategies.

Creating and measuring capital plans in line with their investment strategy

Building relationships with key stakeholders, such as lenders, investors, and vendors

Managing or overseeing the budget and financial performance of the property or portfolio

Overseeing capital improvement projects and other renovations.

Monitoring and reporting on key performance metrics, such as occupancy rates, rental income, renovation performance, and expenses.

Overseeing property sales or purchases

Identify investment opportunities and assist in the acquisition of all individual and portfolio investments

Pain Points

The role faces challenges during economic downturns, which can jeopardize property profitability. The stakes are high, as incorrect investment choices can lead to significant losses and missing financial goals

Market Fluctuations: Real estate market unpredictability affecting asset performance

Resource Limitations: Managing assets with restricted resources or budgets

Stakeholder Expectations: Meeting varied expectations of investors, tenants, and internal teams.

Regulatory Challenges: Navigating complex, ever-changing property and investment regulations.

Stakeholder Coordination: Coordinating with property management, finance, and acquisitions teams to align strategies and achieve goals

Motivation

TheirprimarymotivationrevolvesaroundmaximizingROIand

Success Metrics

The financial performance of their portfolio quantifies success for asset managers, the ROI they achieve, and the consistent growth in the capital value of the properties they manage

Asset Value Growth: Demonstrated appreciation in the value of managed assets

Financial Performance: Meeting or exceeding financial targets and KPIs for assets.

Stakeholder Satisfaction Levels: Positive feedback and satisfaction rates from tenants and investors

Operational Compliance: Adherence to regulatory standards and best practices

Operations Analyst

Overview

An Operations Analyst evaluates, improves, and streamlines operational processes They use data-driven methods to identify inefficiencies, recommend improvements, and support the successful execution of property management strategies

Jobs to Be Done

Common Titles

Process Improvement Analyst

May Also Report To

President, CEO

Data Collection & Analysis: Gathering and interpreting data related to property operations, from tenant satisfaction to maintenance costs.

Process Optimization: Identifying bottlenecks and recommending changes to improve efficiency and effectiveness

Reporting: Summarizing findings and insights into clear, actionable reports for decision-makers

Stakeholder Collaboration: Working with various teams, from maintenance to leasing, to understand challenges and implement solutions

Technology Vendor Management: Working with technology vendors to ensure their products work within the organization Performance Tracking: Monitor the success of implemented process changes and recommending further tweaks as needed.

Pain Points

People in this role face challenges like navigating disjointed data sources, overcoming resistance to change, grappling with complex operational systems, and adjusting to evolving priorities.

Data Silos: Navigating fragmented or disjointed data sources across different departments

Change Resistance: Encountering resistance from teams or stakeholders when suggesting operational changes

Technology Vendor Priorities: Experiencing difficulties in advocating for features or changes that make their products work better for the company

Complex Systems: Dealing with intricate or outdated operational systems that hinder process improvements

Shifting Priorities: Adapting to rapidly changing organizational objectives or market dynamics.

Motivation

Operations Analysts are driven by the pursuit of operational excellence, making informed data-driven decisions, a mindset of continuous improvement, and collaborative problem-solving

Operational Excellence: Streamlining processes to foster a more efficient and productive property management environment

Data-Driven Decisions: Leveraging data to make informed and impactful recommendations.

Continuous Improvement: Adapting and iterating operations based on real-world feedback and results

Collaborative Growth: Working alongside various teams to collectively enhance property operations.

Success Metrics

The success of Operations Analysts is measured through tangible operational gains, stakeholder engagement and feedback, the accuracy and reliability of data, and meeting set KPIs

Operational Efficiency Gains: Demonstrable improvements in process speed, resource utilization, or cost savings

Stakeholder Buy-In: Positive feedback and adoption rates from teams affected by process changes.

Data Accuracy: Maintaining reliable, up-to-date, and comprehensive data sources for analysis

To be Collected Follow

Achievement of KPIs: Meeting or exceeding Key Performance Indicators set for operational improvements.

Due Diligence Inspector

Overview

The Due Diligence Inspector performs inspections and assessments of properties during acquisition or disposition. Their expertise ensures potential investments are sound, properties meet necessary standards, and no hidden liabilities exist.

Common

Titles

Property Inspector, Acquisition Inspector, Real Estate Due Diligence Examiner

May Also Report To

President, Asset Manager

Jobs to Be Done

Physical Property Assessment: Conducting detailed on-site inspections of properties to assess the condition of structures, systems, and grounds

Document Review: Analyzing property-related documents like past inspection reports, maintenance logs, and any recorded deficiencies.

Defect Identification: Identifying and documenting visible and potential defects or issues that may affect the property's value or require future remediation

Recommendation Report: Providing a detailed report with findings, potential risks, and recommendations.

Pain Points

Limited Access: Encountering areas of the property that are inaccessible or challenging to inspect

Incomplete Historical Data: Dealing with gaps or missing records in past property documentation

Time Constraints: Often working under tight deadlines that might impact the thoroughness of the inspection

Communication Barriers: Coordinating with and explaining findings to stakeholders who might not have a technical background.

Motivation

Driven by the desire to offer comprehensive property insights, make impactful recommendations, continuously grow professionally, and ensure properties uphold the necessary standards.

Thorough Analysis: Taking pride in providing a comprehensive understanding of a property's condition

Impactful Recommendations: Guiding investment decisions with detailed and accurate findings

Professional Growth: Continuously expanding knowledge about construction, real estate trends, and inspection methodologies

Upholding Standards: Ensuring properties meet all requisite safety and quality standards

Success Metrics

The effectiveness of people in this role is gauged by the accuracy and depth of their reports, positive stakeholder feedback, timely inspections, and the influence of their recommendations

Report Accuracy: Providing detailed and error-free inspection reports

Real Talk

To be Collected

Stakeholder Satisfaction: Receiving positive feedback from investment teams or potential buyers.

Efficiency: Completing inspections within the given timelines without compromising on quality

Recommendation Uptake: Seeing recommendations lead to informed decision-making or corrective actions

Due Diligence Administrator

Overview

The Due Diligence Admin is crucial in the multifamily residential real estate sector, ensuring all due diligence activities during property acquisitions or dispositions are conducted thoroughly and efficiently. They organize, support, and oversee the compilation of all required documentation and coordinate with various stakeholders to ensure timely and accurate due diligence.

Common Titles

Due Diligence Coordinator, Due Diligence Specialist, Acquisitions Support Specialist

May Also Report To

President, Asset Manager

Jobs to Be Done

Documentation Collection and Review: Gathering, organizing, and reviewing necessary documents for property transactions

Stakeholder Coordination: Liaising with internal and external stakeholders, including sellers, buyers, legal teams, and inspectors.

Report Compilation: Creating detailed reports that highlight findings from the due diligence process

Timeline Adherence: Ensuring all due diligence activities are completed within the stipulated timelines

Pain Points

People in this role grapple with potential gaps in documentation, the challenge of coordinating among multiple parties, tight due diligence deadlines, and the need to stay abreast of changing property regulations.

Incomplete or Missing Information: Encountering gaps in the required documentation

Coordination Challenges: Managing communications and requirements among multiple stakeholders

Tight Deadlines: Working under stringent timelines that may not allow for a comprehensive review

Changing Regulations: Staying updated with the ever-evolving local, state, and federal property regulations.

Motivation

Due Diligence Administrators are motivated by ensuring accuracy in their work, playing a role in successful real estate transactions, employing their organizational skills, and continuously updating their knowledge.

Accuracy and Thoroughness: The satisfaction of ensuring all information is complete and accurate

Facilitating Successful Transactions: Playing a part in successful property acquisitions or dispositions.

Organization: Leveraging and honing organizational and attention-to-detail skills.

Continuous Learning: Staying updated with industry trends, regulations, and best practices

Success Metrics

The success of people in this role is marked by the accuracy and timeliness of their work, positive feedback from stakeholders, and adherence to the latest regulatory standards

Accuracy of Reports: Delivering error-free due diligence reports

Real Talk

Timeliness: Completing all due diligence activities within the stipulated timeframes.

To be Collected

Stakeholder Satisfaction: Positive feedback from internal teams and external parties involved in the transaction

Regulatory Compliance: Ensuring all due diligence activities adhere to current regulations and standards

Due Dilligence LEA Agent

Overview

A Due Diligence Lease File Audit (LFA Agent) audits lease files to validate their accuracy, completeness, and compliance They ensure that lease agreements are transparent, legally compliant, and well-documented, safeguarding both the property management and tenants

Common Titles

Lease Auditor, Lease Compliance Agent, Lease File Reviewer

May Also Report To

Jobs to Be Done

LFA Agents are responsible for methodically reviewing lease files, ensuring regulatory compliance, validating associated documentation, and promptly reporting any discrepancies.

Lease File Review: Reviewing leases for accuracy and completeness.

Compliance Check: Verifying that all lease agreements adhere to local, state, and federal regulations

Documentation Validation: Ensuring necessary supplementary documentation (like security deposits, addendums, and tenant background checks) is present and correctly filed

Reporting Discrepancies: Highlighting and documenting any anomalies, missing files, or compliance issues.

Pain

Points

People in this role frequently grapple with inconsistent lease documentation, changing rental regulations, the sheer volume of lease files, and potential communication gaps with property teams.

Inconsistent Lease Documentation: Encountering varying lease formats or missing sections across files

Complex Regulations: Staying updated with frequently changing rental and property-related laws

Volume of Files: Handling a vast number of lease files, especially during large acquisitions

Limited Collaboration: Potential lack of communication or cooperation from property management teams.

Motivation

LFA Agents are driven by their attention to detail, the desire to ensure legal compliance, the challenge of solving documentation issues, and collaborating effectively with stakeholders.

Attention to Detail: Taking pride in meticulous scrutiny and thoroughness

Ensuring Compliance: Playing a crucial role in upholding property legality and standards.

Problem-Solving: Navigating challenges and finding solutions to documentation issues.

Stakeholder Engagement: Collaborating and communicating with various teams to ensure streamlined lease management

Success Metrics

The performance of people in this role is marked by the accuracy of their audits, the timeliness of their reports, positive stakeholder interactions, and the swift resolution of audit findings.

Audit Accuracy: Delivering precise and error-free audit results

Real Talk To be Collected

Timely Reporting: Completing audits within given timelines

Stakeholder Feedback: Receiving positive input from property management teams and acquisition parties.

Resolution Rate: Effective addressing and resolution of highlighted discrepancies

Appraiser

Overview

An Appraiser in the real estate sector evaluates properties to determine their market value Leveraging a combination of on-site evaluations, market trends, comparable sales, and expertise, they provide essential valuation insights that guide sale prices, loan amounts, and investment decisions

Real Estate Appraiser, Multifamily Property Appraiser. Commercial Real Estate Appraiser, Residential Property, Appraiser, Certified Appraiser, Investment Property Appraiser Common Titles

May Also Report To

CEO

Jobs to Be Done

Appraisers assess properties on-site, analyze real estate market trends, document their findings in detailed reports, and liaise with relevant stakeholders

On-Site Evaluation: Conducting physical inspections of properties to assess condition, features, and location.

Market Analysis: Studying local real estate trends, recent sales, and property values to inform valuations.

Report Compilation: Documenting findings and providing detailed reports with the property's assessed value

Liaison with Stakeholders: Collaborating with lenders, brokers, and property owners to discuss appraisal findings and address concerns.

Pain Points

They deal with challenges like market volatility, valuation subjectivity, changing regulations, and time pressures in high-demand periods.

Fluctuating Market Conditions: Adapting to rapidly changing real estate markets and pricing fluctuations.

Subjectivity: Addressing the inherent subjectivity in property valuations and handling disagreements from stakeholders

Regulatory Changes: Staying updated with evolving valuation standards and regulatory requirements

Time Pressures: Conducting thorough appraisals under tight deadlines, especially in busy markets

Motivation

Appraisers are driven by the aim of precise valuations, upholding professional standards, staying updated on market dynamics, and nurturing robust stakeholder relationships.

Accurate Valuations: Providing stakeholders with the most precise and up-to-date property values.

Professional Integrity: Upholding industry standards and ethical considerations in all appraisals

Continuous Learning: Staying informed about market trends, innovative appraisal techniques, and emerging property types

Stakeholder Relationships: Building and maintaining strong relationships with clients and other real estate professionals.

Success Metrics

The performance of Appraisers is marked by the accuracy of their appraisals, the promptness of their reports, positive stakeholder feedback, and strict regulatory compliance.

Accuracy of Appraisals: How closely appraised values align with actual sale prices or independent assessments.

Timeliness: Delivering appraisal reports within the agreedupon timeframes

Stakeholder Satisfaction: Receiving positive feedback and trust from lenders, brokers, and property owners

Regulatory Adherence: Ensuring all appraisal activities comply with industry and regulatory standards.

IT Manager

Overview

An IT Manager oversees the technological infrastructure supporting property management activities They are responsible for ensuring that all IT systems, from resident portals to maintenance request platforms, operate smoothly, securely, and align with the organization's objectives.

Jobs to Be Done

Common Titles

IT Director, Information Systems Manager

May Also Report To

IT Managers ensure technology systems are operational and updated, prioritize cybersecurity, align tech initiatives with organizational goals, lead the IT team, and communicate with property stakeholders about tech needs.

System Maintenance & Upgrades: Ensuring all technological systems are up-to-date, functional, and optimized for user needs

Cybersecurity Management: Safeguarding sensitive resident and property data from potential breaches

Technology Strategy: Aligning IT initiatives with the company's objectives and future growth plans

Team Leadership: Managing and mentoring the IT team, ensuring they have the resources and training to excel.

Stakeholder Communication: Liaising with property managers, executives, and other stakeholders to understand their IT needs and address concerns.

Pain Points

They grapple with challenges like integrating legacy systems, managing within budget limits, accommodating diverse user tech proficiencies, and keeping pace with rapid technological advancements.

Legacy Systems: Working with outdated systems that may not integrate well with newer technologies.

Budget Constraints: Navigating limited budgets while trying to implement top-tier IT solutions

Diverse User Needs: Catering to a wide range of technical proficiency levels among staff and residents

Rapid Tech Evolution: Keeping up with the fast-paced changes and updates in the technology world

Motivation

They're driven by achieving operational efficiency through technology, safeguarding sensitive data, staying on the cutting edge of tech trends, and nurturing a proficient IT team.

Operational Efficiency: Implementing technology solutions that streamline and enhance property management processes

Data Security: Ensuring the utmost protection for organizational and resident data.

Innovation: Staying ahead of tech trends to provide the organization with a competitive edge

Team Development: Cultivating a skilled, efficient, and motivated IT team

Success Metrics

Their effectiveness is gauged through system uptime, minimized security incidents, successful tech project rollouts, and positive feedback from technology users.

System Uptime: Maintaining high availability and minimal downtime for all critical IT systems

Talk To be Collected

Security Incidents: Keeping cybersecurity incidents close to zero

Project Implementation: Successful rollout and adoption of new IT projects or system upgrades.

Stakeholder Satisfaction: Receiving positive feedback from users regarding IT systems and support

Investor Relations Manager

Overview

The Investor Relations Manager in multifamily real estate cultivates and maintains relationships with current and potential investors They communicate financial performance, market dynamics, and investment opportunities, ensuring transparency and trust.

Common Titles

Investor Relations Manager, Investor Relations Officer, Investor Relations Specialist

May Also Report To

Chief Executive Officer

Jobs to Be Done

Investor Relations Managers are tasked with routinely updating investors on property financials and strategies, orchestrating investor meetings and calls, presenting financial summaries, addressing any investor concerns promptly, and offering insights into real estate market trends

Communication: Regularly update investors on financial results, market trends, and company strategy

Stakeholder Engagement: Organize investor meetings, conferences, or calls.

Financial Reporting: Prepare and present financial summaries and projections to investors

Feedback Handling: Address investor queries, concerns, or feedback promptly.

Market Analysis: Stay updated on market trends and provide insights to both the company and its investors.

Pain Points

The challenges Investor Relations Managers face include dealing with investor apprehensions, articulating intricate financial matters in digestible formats, catering to varied investor profiles and their differing expectations, and ensuring communication is comprehensive yet not overwhelming

Volatile Markets: Navigating investor concerns during market downturns or instability.

Communication Challenges: Conveying complex financial data in understandable terms.

Varied Investor Expectations: Managing diverse investor personalities and expectations

Information Overload: Striking a balance between transparency and information overload

Motivation

Investor Relations Managers aim to build trust within the investor community, support the overarching growth and vision of the company, remain updated on multifamily real estate market dynamics, and constantly refine the methods and channels of investor communication

Stakeholder Trust: Building and maintaining trust with the investment community.

Company Growth: Supporting the company's growth through positive investor relations.

Market Savviness: Being informed and updated about multifamily real estate market trends

Effective Communication: Streamlining and enhancing investor communication channels and methods.

Success Metrics

The achievements of Investor Relations Managers are marked by high levels of satisfaction among investors, successful and engaging investor events and communications, overwhelmingly positive feedback and minimized grievances, and the consistent clarity and transparency of all financial dialogues

Talk

To be Collected

Investor Satisfaction: High levels of satisfaction and trust among the investor community.

Engagement Levels: Effective and well-attended investor meetings and communications.

Positive Feedback: Receiving positive feedback and minimal concerns from investors

Financial Clarity: Consistently clear and transparent financial communications without misunderstandings.

Inspection Engineer

Overview

An Inspection Engineer evaluates the structural, mechanical, and technical aspects of properties Their in-depth technical expertise ensures that properties adhere to safety standards, are structurally sound, and all systems function optimally.

Common Titles

Structural Engineer, Building Inspection Engineer

May Also Report To

Jobs to Be Done

Inspection Engineers undertake technical assessments of properties, ensure safety compliance, document their findings in detailed reports, and engage with various stakeholders to convey their insights.

Technical Evaluations: Conducting detailed inspections of structural elements, electrical systems, HVAC units, and other technical aspects of a property

Safety Compliance: Ensuring properties meet safety standards, including fire safety, seismic resilience, and accessibility norms

Report Compilation: Documenting technical findings, noting any potential risks, and providing repair or upgrade recommendations.

Liaison with Stakeholders: Collaborating with property managers, owners, and regulatory bodies to discuss inspection findings and offer technical guidance

Pain Points

People in this role face challenges like complex structural or technical defects, updating themselves on ever-changing regulations, inspecting under tight timelines, and managing differing stakeholder expectations

Complex Defects: Dealing with intricate technical issues that require deeper investigation

Regulatory Changes: Keeping abreast of evolving construction standards and safety regulations

Resource Constraints: Conducting thorough inspections within tight schedules or with limited tools/equipment.

Stakeholder Disagreements: Navigating discrepancies between inspection findings and stakeholder perceptions or expectations

Motivation

Engineers are driven by ensuring the structural soundness of properties, achieving professional excellence in evaluations, resolving intricate engineering issues, and collaborating across disciplines.

Structural Integrity: Ensuring properties are safe and fit for occupancy or use

Professional Excellence: Delivering meticulous and comprehensive technical evaluations

Problem Solving: Diagnosing and offering solutions to complex engineering challenges.

Interdisciplinary Collaboration: Engaging with professionals from various sectors for holistic property evaluations

Success Metrics

The efficacy of Engineers is determined by the accuracy of their assessments, prompt report deliveries, the trust they foster with stakeholders, and ensuring properties adhere to safety and technical standards.

Real Talk

To be Collected

Precision of Assessments: Providing technical evaluations that align with actual property conditions and potential risks

Timely Reporting: Delivering technical reports within the specified timelines

Stakeholder Trust: Gaining confidence and trust from property stakeholders for unbiased and accurate evaluations. Safety and Compliance: Ensuring all inspected properties align with current safety and technical standards

Loan Inspector

Overview

Loan Inspectors specialize in evaluating properties on behalf of lending institutions to determine their suitability as collateral for loans. They provide an impartial assessment, focusing on the property's value, condition, and potential risks to ensure the lender's financial interests are secured.

Common Titles

Collateral Inspector, Bank Property Inspector, Lending Assessment Specialist

Jobs to Be Done

Loan Inspectors focus on property valuation, physical assessments, documentation checks, risk evaluations, and providing feedback for loan decisions

Property Valuation: Determining the market value of properties to ensure adequate loan-to-value ratios

Physical Assessment: Inspecting structural elements, systems, and overall condition of the property

Documentation Review: Scrutinizing property titles, permits, zoning, and other pertinent records.

Risk Evaluation: Assessing potential environmental, regulatory, or market-related risks that might impact property value.

Loan Recommendation: Providing the lender with comprehensive feedback to guide loan origination or adjustment decisions

Pain Points

These inspectors grapple with dynamic market valuations, incomplete property records, unpredictable market influences, and pressures from lending stakeholders

Subjective Valuations: Navigating the complexities of fluctuating real estate markets and subjective valuation criteria

Incomplete Documentation: Dealing with properties that lack comprehensive records or have legal ambiguities.

External Influences: Economic downturns or local market events that can suddenly affect property values.

Stakeholder Expectations: Managing pressures from lending institutions that seek optimistic evaluations to sanction loans

Motivation

Loan Inspectors are motivated by offering unbiased property assessments, ensuring the financial security of lenders, upholding professional standards, and keeping updated with market dynamics

Objective Assessment: Striving for unbiased and comprehensive property evaluations

Financial Security: Ensuring lenders' investments are backed by genuinely valuable assets.

Professional Integrity: Upholding the highest standards of accuracy and fairness in inspections

Continuous Learning: Staying abreast of market trends, regulatory changes, and inspection best practices.

Success Metrics

Success is gauged through valuation accuracy, adept risk identification, prompt reporting, and positive feedback from lending institutions.

Real Talk

Accuracy of Valuations: How often inspection findings align with actual property sale prices or independent valuations

To be Collected

Risk Identification: Effectiveness in highlighting potential financial risks associated with properties

Timely Reporting: Delivering evaluations within the required timelines set by the lending institution.

Stakeholder Satisfaction: Meeting or exceeding the expectations of the lending institutions in terms of report thoroughness and insights

Accountant

Overview

An Accountant is responsible for activities associated with maintaining and reviewing ledger accounts, generating and reviewing financial statements and reports, as well as completing financial analysis projects and reporting as needed

Common Titles

Bookkeeper, Financial Analyst, Accounting Assistant, Controller

May Also Report To

Finance Manager, Chief Financial Officer

Jobs to Be Done

Accountants manage financial transactions, reconcile accounts, handle invoicing, produce financial reports, assist in tax preparations, process vendor payments, and support budget preparations.

Transaction Recording: Accurately log all financial transactions, including rent collections, expenses, and vendor payments

Account Reconciliation: Ensure consistency and accuracy by reconciling bank statements with ledger entries

Invoice Management: Process incoming bills, produce and send out invoices to tenants or vendors.

Report Preparation: Generate basic financial reports like profit and loss statements, balance sheets, or cash flow summaries

Tax Prep Assistance: Organize and maintain records necessary for tax preparation

Vendor Payment Management: Track and process payments to service providers, contractors, and suppliers.

Budget Assistance: Help in preparing and maintaining property budgets

Pain Points

Bookkeepers grapple with errors in data entry, payment issues, evolving financial regulations, limitations of their accounting software, and handling large volumes of transaction data

Data Entry Errors: Mistakes made during manual entry of transactions.

Changing Regulations: Keeping up with evolving accounting or tax laws.

Software Limitations: Working with outdated or limited financial software

Data Overload: Managing vast amounts of transaction data, especially for larger properties

Motivation

Bookkeepersloveaccuracyandhavetheambitionto streamlineoperations,theeagernesstostayupdatedin theirfield,andtheaimtocontributesignificantlytothe property'sfinancialhealth.

Accuracy&Detail:Prideinmaintainingmeticulousand error-freefinancialrecords.

OperationalEfficiency:Streamliningfinancialprocesses fortheproperty'sbenefit

ContinuousLearning:Keepingupdatedwiththelatest inaccountingpracticesandsoftware TeamContribution:Playingavitalroleinthefinancial healthanddecision-makingprocessesoftheproperty

Success Metrics

The effectiveness of Bookkeepers is gauged by the accuracy and timeliness of their records, the property's adherence to its budget, and the readiness and cleanliness of audits

Record Accuracy: Consistently error-free books and accounts

Timeliness: On-time processing of all financial tasks, from invoicing to report generation

Budget Adherence: Helping ensure the property operates within its budget.

Audit Readiness: Clean and straightforward audits, with all necessary documentation readily available

Lender

Overview

Lenders provide loans to developers, property management companies, or individual investors for the acquisition, development, or refinancing of properties. They assess the creditworthiness of borrowers, evaluate the viability of projects, and manage risk to ensure a return on their investment.

Common Titles

Loan Officer, Mortgage Broker, Commercial Real Estate Lender

Jobs to Be Done

Lenders focus on assessing client creditworthiness, analyzing project risks, originating loans, managing their loan portfolio, and maintaining compliance with financial regulations

Client Assessment: Evaluating the financial health and creditworthiness of potential borrowers.

Risk Analysis: Assessing the viability and potential profitability of proposed real estate projects

Loan Origination: Structuring loan terms, setting interest rates, and initiating the loan process.

Portfolio Management: Monitoring outstanding loans and managing relationships with borrowers.

Regulatory Compliance: Ensuring all lending activities adhere to local, state, and federal financial regulations

Pain Points

People in this role grapple with the risks of loan defaults, the repercussions of economic downturns, evolving regulatory landscapes, and intense industry competition.

Loan Defaults: Navigating the challenges of borrowers defaulting on their loans

Economic Fluctuations: The impact of economic downturns on the real estate market and loan repayments.

Regulatory Changes: Continuously evolving financial and lending regulations.

Competition: The highly competitive nature of the lending industry, with many players vying for the same clients

Motivation

Lenders are driven by the desire to grow their financial portfolio, the satisfaction of aiding client projects, mastering risk management, and establishing a prominent industry position

Financial Growth: Growing the lending portfolio and ensuring healthy returns on investments.

Client Success: Facilitating client projects and seeing them come to fruition

Risk Management: Perfecting the art of balancing profitable lending with risk minimization.

Industry Influence: Being a recognized and respected figure in the real estate lending space

Success Metrics

Lenders measure success through timely loan repayments, portfolio growth, sustained client relationships, and strict adherence to lending regulations.

Loan Repayment Rate: The percentage of loans being repaid on time

be Collected

Portfolio Growth: Expansion of the lending portfolio and acquisition of new, creditworthy clients

Client Retention: Maintaining long-term relationships with borrowers.

Regulatory Adherence: Ensuring all lending practices are compliant and avoiding legal complications

Property Owner

Overview

A Property Owner owns one or more residential multifamily properties. They may actively manage the property or delegate to a property management team.

Common Titles

Property Owner, Landlord, Real Estate Investor

May Also Report To

Investors, Board of Directors

Jobs to Be Done

Property Owners are responsible for setting an investment strategy, acquiring and disposing of properties, hiring senior leaders, and ensuring the company's financial health

Investment decisions

Property acquisition

Hiring a property management team

Financial oversight

Pain Points

Property Owners are always wary of risk, both internal and external, and there is always a lot to go around! Regardless of their investment strategy, the owner will want to ensure that their property value is maximized, fully rented, and profitable. Managing risk

Maintaining property value

Dealing with vacancies

Ensuring profitability

Ensuring regulatory compliance

Motivation

While their chosen strategy will dictate their activities, at the end of the day, Property Owners want a return on their investment

Long-term investment growth

Passive income

Tax advantages

Success Metrics

Property Owners need to show investors, lenders, and other stakeholders that their properties are performing to the expected standards and are becoming increasingly valuable over time.

ROI/NOI

Property appreciation

Occupancy rates

Resident satisfaction

To be Collected

Legal Counsel

Overview

A Legal Counsel in the multifamily real estate domain provides expert legal advice on property acquisitions, tenant disputes, contract negotiations, and regulatory compliance. They safeguard the property or company from legal pitfalls and ensure all operations adhere to local, state, and federal laws.

Jobs to Be Done

Common Titles

Legal Counsel, Attorney, Legal Advisor

May Also Report To

Chief Executive Officer, General Counsel

Legal Counsel manages contract drafting and negotiations, ensures all property operations align with regulations, handles and resolves any arising disputes, stays updated on all housing and real estate legal changes, and provides insights into legal risks and their mitigation

Contract Drafting & Review: Draft, review, and negotiate various contracts, including leases and vendor agreements

Legal Compliance: Ensure property operations comply with relevant regulations and laws.

Dispute Resolution: Manage and oversee any tenant or vendor disputes, seeking amicable solutions or representing the property in legal proceedings

Regulatory Updates: Stay updated on changing real estate and housing laws and inform stakeholders.

Risk Management: Identify potential legal risks and advise on mitigation strategies.

Pain Points

Legal Counsel must often navigate the intricate realm of housing laws, manage time-consuming tenant or vendor disputes, balance legal guidelines and business demands, and keep up with frequently changing regulatory standards

Complex Regulations: Navigating the intricate web of housing and real estate laws.

Dispute Challenges: Time-consuming and potentially damaging disputes with tenants or vendors

Operational Disconnect: Bridging the gap between legal advice and business operations

Keeping Current: Constantly evolving real estate regulations and compliance standards.

Motivation

Legal Counsel are driven by the desire to protect the property from potential legal issues, harmonize business processes with legal standards, safeguard all stakeholder rights, and to stay abreast of legal evolutions.

Risk Minimization: Protecting the property or company from potential legal issues

Operational Efficiency: Streamlining processes to align with legal requirements.

Stakeholder Protection: Ensuring all stakeholders' rights and interests are legally protected

Continuous Learning: Staying updated with the latest legal changes and interpretations

Success Metrics

The efficacy of Legal Counsel can be gauged by minimizing legal disputes faced by the property, proactive risk identification and management, the outcome of legal resolutions favoring the property, and consistent adherence to all legal and regulatory norms.

Reduced Legal Issues: Few to no legal disputes or challenges faced by the property or company

Effective Risk Management: Proactive identification and mitigation of potential legal risks.

Positive Outcomes: Successful resolution of disputes or legal matters in favor of the property

Regulatory Adherence: Full compliance with all pertinent legal and regulatory standards

CEO: Chief Executive Officer

Overview

The CEO bears the primary responsibility for setting strategic direction, overseeing operations, and ensuring the organization achieves its goals. They are the driving force behind the company's vision, fostering a positive culture and ensuring sustainable growth in a competitive market.

Common Titles

President, Managing Director, Executive Director

May Also Report To

Jobs to Be Done

Strategic Direction: Setting the overarching vision, mission, and long-term objectives for the company.

Operational Oversight: Ensuring all departments, from acquisitions to property management, align with company strategy and deliver optimal performance

Stakeholder Relations: Building and maintaining relationships with key stakeholders, including investors, partners, and regulators

Team Leadership: Inspiring, mentoring, and leading senior executives and ensuring a cohesive, productive corporate culture.

Financial Management: Overseeing the company's financial health, ensuring profitability, and guiding investment decisions

Pain Points Owner

They face challenges related to unpredictable market conditions, stiff industry competition, evolving regulatory landscapes, and making tough resource allocation decisions

Market Fluctuations: Navigating the challenges posed by volatile real estate markets and economic downturns

Competition: Staying ahead in an industry with evolving dynamics and aggressive competitors

Regulatory Challenges: Ensuring compliance with ever-changing real estate regulations and legal mandates

Resource Allocation: Balancing budget constraints with the need to invest in growth opportunities

Motivation

Company growth, leading industry innovation, fostering a successful team environment, and consistently delivering value to stakeholders.

Company Growth: Driving sustainable expansion and profitability for the organization

Innovation: Staying at the forefront of industry trends and integrating innovative solutions for property management and development.

Team Success: Building a high-performing, motivated, and cohesive team

Stakeholder Value: Delivering consistent value to shareholders, partners, and clients

Success Metrics

Their effectiveness is measured through financial outcomes, the company's industry reputation, team satisfaction levels, and the trust they garner among key stakeholders.

Talk To be Collected

Financial Performance: Achieving and surpassing revenue, profit, and ROI targets.

Company Reputation: Elevating the brand's standing and reputation in the real estate industry

Employee Satisfaction: Maintaining high levels of team engagement, morale, and retention

Stakeholder Trust: Solidifying and enhancing trust with investors, partners, and clients.

PMC President

Overview

The President of a PMC is the top executive responsible for guiding the strategic direction, operational excellence, and financial performance of the company They oversee all facets of the property management business, from client relations to tenant satisfaction and team leadership.

Common Titles

“President, Property Management”, Chief Executive Officer (CEO), “Managing Director, Property Management”

May Also Report To

Chief Executive Officer, Property Owner

Jobs to Be Done

The PMC President is chiefly tasked with steering the company's strategic direction, overseeing operations, nurturing client relationships, and leading the team to success

Strategic Direction: Establish and refine the company's mission, vision, and long-term goals

Operational Oversight: Ensure smooth and efficient operations across all properties and departments.

Client Relations: Foster strong relationships with property owners and stakeholders

Team Leadership: Lead, mentor, and grow the entire PMC team, from managers to ground staff

Pain Points

They face challenges stemming from stiff industry competition, balancing tenant and owner expectations, addressing operational hurdles, and ensuring compliance with regulations.

Industry Competition: Navigating an increasingly competitive property management landscape

Tenant and Owner Expectations: Meeting the diverse and evolving needs of both tenants and property owners.

Operational Challenges: Addressing day-to-day operational issues, from maintenance to staff turnover.

Regulatory Compliance: Keeping up with ever-changing property and rental regulations

Motivation

The core motivators are the growth of the company, operational proficiency, team success, and carving a niche as an industry leader

Company Growth: Expanding the company's portfolio and market share

Operational Excellence: Achieving smooth, efficient, and profitable operations across all managed properties.

Team Success: Cultivating a high-performing, cohesive team that delivers exceptional service

Industry Leadership: Positioning the PMC as a top player in the property management sector

Success Metrics

A successful PMC President will see portfolio expansion, robust financial health, high client satisfaction, and tenant retention.

To be Collected

Portfolio Growth: Increase in the number of properties and units managed

Financial Performance: Profitability, revenue growth, and cost management.

Client Satisfaction: Positive feedback and retention rates from property owners

Tenant Retention: High tenant satisfaction and low turnover rates.