Portfolio Leasing Manager
2 days ago
Chicago
Job DescriptionDescription: Position: Portfolio Leasing Manager Job Summary: The Portfolio Leasing Manager (PLM) will lead and support leasing operations of multiple portfolios on behalf of third-party ownership partners. The PLM is responsible for monitoring and streamlining leasing activities to ensure optimal leasing results. In addition to managing their assigned portfolio, the PLM will play a critical role in mentoring leasing staff and gathering strategic market intelligence across multiple markets. This role is ideal for a tenured professional with deep industry experience who thrives in both execution and leadership. Expectation for all Employees: Supports the organization’s mission and values by exhibiting the following behaviors: excellence and competence, collaboration, innovation, commitment, accountability, and ownership. To thrive in this role, employees should have a desire to learn and grow and be able to work effectively with and inspire other team members. In-Office Work Expectation: • Required to work four days per week, from 9:00 a.m. to 5:00 p.m., at Cross Street’s Chicago headquarters. One work from home day allocated per week., • Flexibility may be required to address business needs outside of established working hours., • Regular local property travel and occasional additional travel may be required. Essential Duties & Responsibilities: Leasing Operations • Oversee leasing activities and performance across an assigned portfolio of residential properties., • Maintain a clear understanding of leasing metrics including availability, pricing, concessions, occupancy and absorption targets., • Monitor the lead funnel, including response times, follow-up quality, appointments, tours, applications, and conversions to ensure timely follow-up by leasing team., • Ensure agents and brokers have accurate property knowledge, appropriate unit access, defined tour paths, and clear follow-up expectations., • Monitor application progress and troubleshoot leasing, access, system, booking, or operational issues., • Manage and maintain property availability sheets and ensure inventory is accurate across applicable systems., • Establish and support renewal strategies, including setting recommended renewal rates and consulting on renewal negotiations., • Ensure website, MLS, Internet Listing Service, CRM, and other digital property information remains current and accurate. Client Reporting and Communication • Consolidate and distribute recurring client reporting., • Lead client calls, presenting leasing performance, challenges, market conditions, and recommended actions., • Provide rent, concession, renewal, and leasing strategy recommendations., • Maintain accountability for client follow-up items and communicate material performance or market changes in a timely manner., • Support ownership reporting, budgeting, and forecasting as needed. Broker and Agent Management • Monitor broker and agent performance against established key performance indicators., • Provide ongoing coaching, performance feedback, and troubleshooting support., • Train new brokers and agents on CRM usage, deal management, lead follow-up, property procedures, and reporting expectations., • Ensure brokers are knowledgeable about assigned properties, units, pricing, concessions, availability, and positioning., • Identify performance gaps and partner with the Director of Leasing on corrective action and staffing needs. Market Intelligence and Strategy • Maintain a strong understanding of the competitive landscape, new development pipeline, and real-time market changes for each assigned portfolio/asset., • Evaluate prospect sentiment, broker feedback, objections, lost-lead reasons, and non-conversion trends., • Identify patterns and proactively use findings to inform pricing, concessions, marketing, positioning, release strategy, and operational recommendations., • Partner with Market Analyst to review competitive market research and communicate relevant insights to clients and internal teams., • Collaborate with the Marketing department to identify marketing needs based on lead volume, lead quality, conversion, inventory, and market conditions. Lease-Up-Specific Responsibilities • Provide recommendations regarding initial unit-level rental rates, concessions, release and absorption schedule., • Collaborate cross functionally to establish lease-up strategy that aligns with ownership goals., • Conduct weekly building walks to identify leasing challenges, opportunities, readiness concerns, and tour-experience improvements., • Monitor the booking and tour process and make adjustments based on agent and prospect feedback., • Ensure availability, unit status, pricing, concessions, and release timing remain current and clearly communicated. Qualifications: • Five to seven years of multifamily leasing, residential property management, sales, or related real estate experience., • Strong analytical, communication, presentation, and relationship-management skills., • Ability to evaluate performance and market data and translate findings into actionable recommendations., • Proficiency with CRM systems, leasing software, market research tools, reporting platforms., • Working knowledge of Fair Housing requirements and applicable leasing regulations., • Valid driver’s license and reliable transportation required. Key Competencies: • Advanced Market Analysis, • High level of integrity, honesty, and discretion, • Strong Negotiation and Relationship Management Skills, • Cross-functional Communication and Team Collaboration, • Detail-oriented and adaptable in fast-paced environments, • Self-motivated with the ability to work independently, • Constructive interpersonal skills with coworkers and clients in a positive manner; the ability to find mutually acceptable and practical business solutions, • Effective problem-solving and creative thinking, • Commitment to confidentialityRequirements: