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Job Title: Asset Manager
Sector: ENGINEERING,CONSTRUCTION,PROJECT MANAGEMENT,ENERGY, QS
Location: NORTH -PORT OF SPAIN,WOODBROOK,ST. JAMES, MORVANT
Job Type: Permanent full-time
Reporting directly to the Portfolio Manager, the Asset Manager (AM) is responsible for the maintenance and enhancement of property value, maximising revenue and minimising costs, and has a strategic role in Planning, Leading, Organising, Coordinating and Controlling (Budgeting) all activities aimed at property development, enhancement, and maintenance (Facilities Management) – security, custodial, maintenance of plant and equipment, and make recommendations using the life cycle model, in the acquisition and disposal of retiring equipment and machinery.
The AM will also be responsible for marketing the list of properties within the portfolio, developing the product mix, and creating the demand.
Principal Duties and Functions
- Responsible for improving tenant satisfaction by ensuring an appropriate tenant mix and that they are evaluated and screened properly.
- Ensure that tenants comply with all Financial Intelligence Requirements and that proper documentation is requested and provided.
- Must ensure that tenants are provided with the best product offering, backed by a good lease (intention to create legal relations) on terms that are fair and market competitive, backed by warranties and guarantees that ensure the best tenant/ landlord experience.
- Advertise and market vacant spaces to attract tenants and negotiate lease/contracts with contractors in a timely and reliable manner.
- Maintain a positive, productive relationship with tenants.
- To ensure that the terms of leases are operationalised and parties are observing the terms of engagement and that violations are dealt with through established processes/provisions in the lease for terminations, evictions etc.
- Source and build relationships with prospective clients to expand business opportunities.
- To develop through an independent agency a method for measuring tenant satisfaction.
- Must lead employees by ensuring that the business goals of the organisation support their individual/ personal goals.
- To research best practice and update job and market information to build competency in job role.
- To craft employees growth and development by ensuring that employees with the right competencies are hired for their respective roles and that they are supported by learning & development initiatives, bi annual performance management and measurement assessment, compensation, reward and retention strategies.
- To develop through an independent agency a method for measuring employee satisfaction.
- Manage the regional property department; set appropriate standards of performance and monitor performance.
- Must establish an approach to operations that would create value by attaining the goals of the business in an efficient manner.
- To develop standard operating procedures for all areas of activities and examine the operating systems for service, tenancy, supply and distribution.
- To ensure compliance with laws and regulations as it pertains to Health, Safety and the Environment, Town & Country Planning, Water & Sewage Authority and other state agencies.
- To secure the assets within the portfolio from vandalism, pilferage and theft.
- To manage directly/indirectly projects established by a program of works undertaken by the organisation.
- To develop operational efficiency and effectiveness ratios to monitor the operations and report on its effectiveness.
- To establish and achieve financial targets, accounts receivable and payable objectives and develop budgets for recurrent and capital expenditures annually by forecasting requirements and analysing variances, data and trends and report periodically on financial performance
- BSc Management, Engineering (MEP), Civil Engineering or equivalent from a recognised University.
- Minimum four (4) years proven work experience as a Property/Asset Manager.
A combination of education and experience will be considered as qualifying competence for the position.
Knowledge, Skills and Abilities
- Strong planning, organizing, negotiation, analytical, problem solving, written and verbal communication skills.
- Proficient in the Microsoft Office Suite
- Familiarity in accounting principles and financial software is a plus.
- Customer focused and results - oriented.
- Excellent people management, accounting and business management skills
- Full understanding of property management and its financial aspects
- In depth knowledge of all rules and regulations surrounding property management
Key Performance Indicators (KPI)
Key Performance Indicators
- Customer Satisfaction
- Tenant satisfaction - Measured by an independent agency on a biannual basis to ascertain tenant satisfaction index.
- Standard - A minimum of 80 % customer satisfaction index achieved on all customer surveys.
- Occupancy Rates
- Occupancy Rate – A ratio of occupied spaces to vacant spaces.
- Standard - Above 95 % occupancy rate in urban areas and 75% in rural areas.
- Accounts Receivable
- Arrears - This is measured by the number of tenants in arrears as a percentage of the number of tenants and age receivable.
- Standard - No more than 5% of monthly rental in arrears not exceeding than 7 days.
- Property Inspections
4.1 Inspections – To identify potential problems or issues for corrective action.
- Standard - Ensuring compliance with the maintenance schedules and regulatory requirements.
- Rental and Lease Rates Validation
5.1 Rental and lease rates validation – A process to review rent and lease rates.
- Standard - review rents and lease rates on a regular basis and ensure valuations done in accordance with lease terms.