About the Role
Position Summary The Property Manager is responsible for the overall operational and financial management of a portfolio consisting primarily of commercial properties, together with a smaller residential component. The Property Manager has direct responsibility for property operations, tenant relations, lease administration, operating budgets, additional-rent recoveries, accounts receivable oversight, service contracts, preventative maintenance, capital projects, and leasing support. The successful candidate will take an ownership-oriented approach to the portfolio, with a focus on maximizing property performance, controlling operating costs, maintaining strong tenant relationships, minimizing vacancies and arrears, and protecting the long-term value and physical condition of the assets. The role requires a strong combination of commercial real estate knowledge, financial discipline, building operations experience, tenant management, and hands-on problem solving.
1. Financial & Property Performance
- Take responsibility for the operating and financial performance of assigned properties.
- Prepare annual property operating budgets and periodic forecasts.
- Review monthly financial statements and compare actual performance against budget.
- Investigate material revenue and expense variances and provide explanations and recommended corrective actions to senior management.
- Monitor property Net Operating Income (NOI) and identify opportunities to increase revenue and reduce controllable operating expenses.
- Review property expenses, utility costs, repair and maintenance expenditures, service contracts, and other operating costs.
- Review and approve invoices within delegated authority and ensure expenses are accurately allocated to the appropriate property and expense category.
- Monitor accounts receivable, tenant arrears, and collection activity.
- Coordinate with accounting regarding tenant accounts, adjustments, credits, recoveries, and other property-related accounting matters.
- Assist management with financial analysis and recommendations relating to property operations and capital investment.
2. Commercial Lease Administration & Recoveries
- Develop a strong working knowledge of the commercial leases within the assigned portfolio.
- Review leases, amendments, renewals, extensions, and other lease documentation to understand the landlord's and tenant's respective obligations.
- Maintain and monitor critical lease dates, including expiries, renewal options, termination rights, rent escalations, and other material provisions.
- Ensure base rent, additional rent, parking, storage, utilities, and other tenant charges are accurately implemented.
- Review operating-cost and tax recovery provisions contained within commercial leases.
- Coordinate annual additional-rent/CAM and realty-tax reconciliations.
- Review recoverable and non-recoverable expenses and ensure appropriate allocation between tenants and the landlord.
- Identify potential missed recoveries or billing discrepancies.
- Monitor tenant insurance certificates, security deposits, letters of credit, and other documentation required under leases.
- Monitor tenant compliance with material lease obligations and escalate significant issues to senior management.
3. Leasing, Renewals & Vacancy Management
- Work closely with ownership, senior management, and leasing representatives to minimize vacancy and maximize rental income.
- Maintain an up-to-date schedule of vacancies, upcoming lease expiries, renewal options, and leasing opportunities.
- Proactively identify upcoming expiries and initiate renewal discussions sufficiently in advance.
- Assist with lease renewals, extensions, amendments, and new leasing transactions.
- Coordinate property tours for prospective tenants and brokers.
- Provide operating-cost, utility, building, parking, and other property information required during lease negotiations.
- Assist in evaluating prospective tenants from an operational and property-management perspective.
- Coordinate landlord work and tenant-improvement requirements associated with new leases and renewals.
- Ensure leased premises are delivered in accordance with agreed landlord obligations.
- Coordinate tenant move-ins and move-outs and ensure appropriate documentation and inspections are completed.
4. Tenant Relations & Retention
- Serve as the primary day-to-day management contact for commercial tenants.
- Develop professional relationships with tenants and maintain regular communication regarding property and operational matters.
- Respond promptly to tenant concerns, maintenance requests, complaints, and service issues.
- Proactively identify tenant concerns that could affect tenant satisfaction or retention.
- Conduct periodic tenant meetings and property visits where appropriate.
- Balance tenant service with the owner's financial and contractual interests.
- Escalate material tenant issues, disputes, defaults, or potential vacancies to senior management.
5. Building Operations & Preventative Maintenance
- Oversee the day-to-day operation and physical condition of assigned properties.
- Conduct regular property inspections and identify required maintenance, repairs, improvements, and potential risks.
- Ensure properties maintain a professional appearance and appropriate standards of cleanliness, landscaping, signage, lighting, parking, and common areas.
- Establish and monitor preventative maintenance programs for major building systems.
- Oversee HVAC, electrical, plumbing, elevators, fire and life-safety systems, roofing, building envelope, parking facilities, drainage, security, access control, and other property systems.
- Ensure deficiencies are documented, prioritized, and corrected in a timely manner.
- Coordinate emergency repairs and building incidents.
- Monitor utility consumption and identify opportunities to improve energy and operating efficiency.
- Maintain appropriate service records, warranties, inspection reports, equipment information, and maintenance documentation.
6. Vendor, Tendering & Contract Management
- Manage contractors and service providers across the portfolio.
- Obtain competitive quotations and tender significant service contracts and repair work.
- Prepare bid comparisons and recommendations for management approval.
- Negotiate pricing, scope, service levels, and contractual terms within delegated authority.
- Regularly review existing contracts to identify opportunities for improved pricing or service.
- Monitor contractor performance and verify that work is completed according to contract specifications.
- Review contractor invoices against approved quotations, contracts, and completed work.
- Maintain current contractor insurance, WSIB documentation, licences, and other required documentation.
- Develop reliable relationships with qualified contractors while maintaining competitive procurement practices.
7. Capital Planning & Project Management
- Identify short- and long-term capital requirements for assigned properties.
- Participate in preparation of annual and multi-year capital expenditure budgets.
- Distinguish between operating repairs and capital improvements and make appropriate recommendations to management.
- Develop scopes of work and obtain competitive pricing for capital projects.
- Coordinate consultants, engineers, architects, contractors, and other professionals as required.
- Manage approved capital projects from procurement through completion.
- Monitor project costs against approved budgets and report anticipated variances promptly.
- Monitor construction schedules, quality, deficiencies, change orders, and project close-out.
- Ensure warranties, drawings, manuals, permits, inspection records, and other project documentation are properly maintained.
8. Tenant Improvements & Construction Coordination
- Coordinate tenant construction and renovation projects within the properties.
- Review tenant construction plans from a property-management and building-operations perspective.
- Coordinate required approvals with ownership and appropriate consultants.
- Ensure tenant contractors comply with building rules, insurance requirements, access procedures, and applicable regulations.
- Coordinate shutdowns, deliveries, elevator access, security, after-hours work, and other construction logistics.
- Monitor construction to protect base-building systems and minimize disruption to other tenants.
- Complete pre- and post-construction inspections as appropriate.
9. Residential Property Management
For the smaller residential component of the portfolio, the Property Manager will:
- Oversee residential leasing, tenant relations, maintenance, and unit turnover.
- Coordinate showings, applications, move-ins, move-outs, and inspections as required.
- Monitor residential rent collection and arrears.
- Coordinate unit repairs, cleaning, painting, and preparation for re-leasing.
- Address residential tenant maintenance requests and concerns.
- Administer rent increases, notices, and other tenancy matters in accordance with applicable Ontario requirements.
- Maintain appropriate residential tenancy records and documentation.
- Coordinate with legal counsel or senior management regarding significant tenancy matters when required.
10. Health, Safety, Risk & Regulatory Compliance
- Ensure properties are managed in accordance with applicable building, fire, health and safety, accessibility, environmental, and other regulatory requirements.
- Coordinate required inspections and testing of building and life-safety systems.
- Maintain appropriate compliance and inspection records.
- Identify property risks and ensure corrective measures are implemented.
- Coordinate insurance inspections and assist with insurance claims and restoration work.
- Ensure contractors follow appropriate health and safety requirements while working at the properties.
- Promptly report material incidents, property damage, potential liabilities, and safety concerns to senior management.
11. Reporting & Administration
- Prepare concise monthly property-management reports for senior management.
- Report on financial performance, occupancy, leasing activity, arrears, tenant issues, maintenance, capital projects, contracts, and significant operational matters.
- Maintain accurate property, tenant, lease, vendor, and building information.
- Maintain organized electronic property files and supporting documentation.
- Track lease expiries, renewal dates, service-contract expiries, insurance certificates, inspections, warranties, permits, and other critical dates.
- Ensure property-management and accounting systems contain accurate and current information.
Qualifications & Experience
- Minimum 5–7 years of commercial property management experience, preferably managing office, retail, industrial, or mixed-use assets.
- Experience managing a smaller residential portfolio is an asset.
- Strong understanding of commercial lease administration and additional-rent/CAM recoveries.
- Demonstrated experience preparing and managing property operating budgets.
- Strong understanding of building operations and major mechanical and electrical systems.
- Experience managing contractors, tendering service agreements, and overseeing capital projects.
- Working knowledge of Ontario residential tenancy requirements.
- Strong financial and analytical capabilities.
- Excellent negotiation, communication, organizational, and problem-solving skills.
- Ability to manage multiple properties, projects, tenants, and priorities simultaneously.
- Strong proficiency with Microsoft Excel, Outlook, and property-management/accounting software.
- RPA, CPM, FMA, or similar property-management designation would be considered an asset.
Key Performance Indicators
The Property Manager's performance should be measured against clear operating and financial objectives, including:
- NOI performance versus budget
- Operating expense performance versus budget
- Accuracy and maximization of additional-rent recoveries
- Occupancy and vacancy levels
- Tenant retention and successful lease renewals
- Accounts receivable and arrears
- Tenant satisfaction and response times
- Preventative maintenance completion
- Building condition and presentation
- Service-contract cost and performance
- Capital expenditures versus approved budgets
- Capital project completion against schedule
- Reduction of emergency repairs and avoidable building failures
- Compliance with regulatory, insurance, and life-safety requirements
- Accuracy and timeliness of management reporting
Reporting Relationship
Reports to: Senior Management, as applicable.
The Property Manager may supervise or coordinate the activities of Property Administrators, Building Operators, Maintenance Personnel, Superintendents, and external contractors depending on the size and structure of the asset.
