Portfolio Leasing Manager in Chicago, Illinois at Cross Street Real Estate LLC

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 confidentiality