Associate, Multiplex Residential Asset Management & Leasing

Position Summary

The Associate, Multiplex Asset Management & Leasing, is integral to the firm’s end-to-end investment strategy and operational execution for its Multiplex Residential Venture. This unique, dual-focus role provides critical support across the entire investment lifecycle, from capital raising and acquisitions through to asset management and leasing. The successful candidate will oversee asset management of the existing portfolio, including coordination with property management, leasing oversight for multiplex units, and ongoing performance monitoring, while supporting the Vice President, Multiplex Developments and the Chief Investment Officer on strategic initiatives and portfolio management activities.

Multiplex residential assets are the primary focus of this role. Montcrest’s multiplex portfolio consists of newly developed and recently acquired multiplex rental properties across the GTA, and the Associate is accountable for their performance from pre-occupancy lease-up planning through to stabilized operations – setting rents, filling units, holding property managers and vendors to account, and protecting NOI. The role suits someone comfortable moving between an underwriting model and a unit turnover in the same day, and willing to be hands-on in a portfolio with no on-site staff.

Key Responsibilities

Asset Management Support

Fundraising & reporting: Develop and manage fundraising pitch books and reporting, including quarterly reports, business plans, and marketing materials for debt and equity offerings

Portfolio performance monitoring: Track asset- and portfolio-level performance against the approved business plan and acquisition pro forma; prepare monthly and quarterly asset reports covering occupancy, rent roll, arrears, capital spend and NOI variance for the VP, Multiplex Developments and the Chief Investment Officer.

Valuation & lender reporting: Maintain the asset-level data supporting quarterly valuations, lender and covenant reporting, and investor reporting packages.

Value-add initiatives: Assistance to Identify and execute value-add opportunities across the portfolio – unit renovations and repositioning, ancillary revenue (parking, storage, laundry), utility sub-metering and cost recovery, and expense reduction – each supported by a written return analysis before capital is committed.

Residential Rental Ventures Duties – Multiplex Focus

Deal sourcing: Support sourcing and identifying acquisition opportunities for residential rental development using market data, broker networks, and off-market channels.

Investment analysis support: Support with underwriting tasks, including financial modelling, market and comparable analysis, and coordinating due diligence to support acquisition evaluation. For multiplex assets, build unit-mix and rent-roll scenarios, test achievable rents against comparable active listings and leased comps, and stress occupancy, turnover and operating cost assumptions.

Purchase & sale management: Manage acquisition and disposition processes end-to-end, including P&S documentation, amendments, deposit handling, and closing materials; receive, review, and organize documentation into finalized closing binders.

Due diligence coordination: Support acquisition of properties during due diligence by maintaining checklists and tracking critical dates.

Financing: Support financing strategy and execution for all residential rental properties, including acquisition, construction, and term loan phases; any matters relating to guarantors will be provided internally, and coordination will be required as part of the financing process. Maintain the financing calendar (maturity dates, renewal windows, covenant tests and reporting deadlines) and help to assemble lender packages; support CMHC-insured financing applications where an asset qualifies.

Leasing: Act as primary leasing lead for residential rental assets; oversee tenant acquisition from outreach and credit checks to coordinating with brokerages and compiling tenant proposal packages. Own achieved rents and lease-up timing against underwriting for every multiplex unit; set asking rents from live market evidence, approve concessions within delegated authority, and manage renewals and the annual rent increase cycle.

Residential rental property management:

• Liaise with external property management and in-house accounting and administration team to ensure properties are managed:
• Prepare annual budget and establish processes to control costs and revenue collection;
• Administer tenant-related documentation including leases, insurance records, correspondence, notices, payment records, and supporting materials;
• Oversee rent collection processes, maintain rent rolls, and monitor outstanding balances;
• Prepare and issue tenant notices (e.g., notices of entry, late payment, default, and termination);
• Coordinate utility account setup and disconnections as required;
• Liaise with external property management providers to support preparation and execution of management agreements; and
• Maintain up-to-date site photos and ensure timely collection and filing of vendor reports (e.g., security, pest control, maintenance inspections, and related services).
• Hold property managers to a written scope of services, response-time standards and a monthly reporting calendar; review and approve invoices against the approved budget;
• Conduct scheduled site inspections of each multiplex (units on turnover, common areas, mechanical, exterior and grounds) and maintain a dated deficiency and follow-up log;
• Manage unit turnovers end-to-end – move-out inspection, cleaning, paint and repairs, staging where applicable, and re-listing – to a target turnaround time

Multiplex Lease-Up & Project Handover

Lease-up planning: Build and own the lease-up plan for each new multiplex ahead of occupancy – target rents by unit type, marketing launch timing, absorption assumptions and concession strategy – and reconcile achieved results against the development pro forma.

Construction-to-operations handover: Coordinate handover from the development team at occupancy, including deficiency and warranty tracking, keys, fobs and access control, appliance and equipment documentation, and written confirmation that each unit is rent-ready.

Marketing & listings: Manage listing preparation and distribution – professional photography, floor plans, listing copy, MLS and rental-platform syndication, signage and digital advertising – and track cost-per-lease by channel.

Showings & tenant selection: Run or oversee showings, applications, credit and employment verification and reference checks; prepare tenant proposal packages and recommend approvals within delegated authority.

Staging & model units: Oversee staging of model and rental units and manage the staging vendor for initial set-up and ongoing turnovers, including furniture inventory, storage and unit allocation.

Service & account set-up: Establish utility, internet, waste, cleaning, landscaping and snow, pest control, security and fire and life-safety monitoring accounts at occupancy, then transition them to ongoing property management.

Lease-up debrief: Complete a written debrief per asset – achieved rents versus underwriting, time to stabilization, concessions given, marketing spend and lessons to carry into the next project.

Key Attributes for Success

Asset Management Expertise – Strong ability to monitor and enhance asset performance, identify risks and opportunities, and drive value across the portfolio

Operational Oversight – Proven experience managing property managers and overseeing day-to-day operations to ensure efficient asset performance

Leasing & Market Knowledge – Solid understanding of leasing dynamics, tenant management, and local market conditions, particularly within multiplex residential assets

Problem-Solving Mindset – Proactive in identifying operational challenges and implementing practical, results-driven solutions

Stakeholder Communication – Clear and concise communicator, able to effectively collaborate with property managers and support senior leadership

Strategic Support – Ability to contribute to portfolio-level strategy and provide timely, high-quality support to the VP, Multiplex Developments and the Chief Investment Officer

Ownership & Attention to Detail – Hands-on, detail-oriented approach with a strong sense of accountability for asset performance and outcomes

Adaptability – Comfortable operating in a dynamic environment and balancing multiple priorities across the portfolio

Lease-Up Execution – A track record taking newly completed rental units from pre-leasing to stabilized occupancy on schedule and at underwritten rents

Vendor & Contractor Management – Able to source, price, schedule and hold accountable trades and service providers across a geographically dispersed portfolio

Tenant Relations – Professional, firm and consistent with residents; able to de-escalate a situation and to document it properly

Commercial Judgment – Understands the NOI and valuation consequence of an operating decision, and can defend a rent, concession or capital recommendation with data

Required Experience

• 3-5 years of working experience in private equity and real estate, including at least 2 years with direct responsibility for residential rental assets
• Bachelor’s degree in Business, Finance, Real Estate, or a related field
• Licensed REALTOR is an Asset
• Demonstrated working knowledge of the Ontario Residential Tenancies Act and Landlord and Tenant Board procedures, including preparing and serving notices and filing applications
• Experience managing third-party property managers, brokerages and service vendors
• Valid Ontario Class G driver’s licence and access to a vehicle; regular travel to sites across the GTA
• Working experience with artificial intelligence tools and systems is an asset