The Portfolio Manager is responsible for the operational, financial, and team performance of an assigned portfolio of multifamily communities, including company owner-managed assets and communities managed for third-party clients. This position translates ownership and client objectives into property-level business plans; holds site teams accountable for results; and serves as the primary operational liaison among Property Managers, ownership/clients, asset management, accounting, human resources, marketing, maintenance/capital teams, and executive leadership. The Portfolio Manager protects each asset, strengthens client relationships, maximizes net operating income and long-term value, and supports an exceptional resident and employee experience.

This position is responsible for overseeing a diverse portfolio of apartment communities from Tacoma to Tumwater, requiring regular collaboration with on-site teams across multiple markets. The portfolio includes properties in a variety of stages and operating environments, offering the opportunity to support performance, drive consistency, and provide leadership throughout the South Sound region.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

The responsibilities below describe the primary expectations of the role. The Portfolio Manager is expected to exercise sound judgment, communicate proactively, and perform other duties as assigned.

1. PORTFOLIO OPERATIONS AND PERFORMANCE

• Direct, support, and hold accountable the Property Managers and site teams assigned to the portfolio, adapting oversight to each asset business plan, management agreement, market, ownership structure, and stage of operations.

• Establish portfolio priorities, annual operating plans, and measurable short-term action plans; monitor follow-through and adjust strategy when performance, market conditions, or client objectives change.

• Conduct regular property visits and operational reviews, including curb appeal, common areas, vacant units, leasing performance, resident service, maintenance operations, life-safety readiness, files, and team effectiveness.

• Identify operational risks and performance gaps early; implement corrective action plans, assign ownership, establish deadlines, and provide timely escalation to leadership and ownership/clients.

2. FINANCIAL MANAGEMENT AND ASSET VALUE

• Lead the annual operating budget, reforecast, and capital planning processes in collaboration with site teams, accounting, asset management, and ownership/clients.

• Review monthly financial statements, general ledger detail, rent rolls, variance narratives, accruals, accounts payable, accounts receivable, deposit accounting, write-offs, payroll, and owner/client reporting for accuracy, completeness, and timely delivery.

• Develop and execute strategies to improve revenue, manage concessions and loss-to-lease, control expenses, reduce delinquency and bad debt, and maximize net operating income without compromising safety, compliance, or the resident experience.

• Review and approve invoices, purchases, contracts, and expenditures within delegated authority; ensure proper coding, documentation, approval controls, and timely processing.

3. OWNER AND THIRD-PARTY CLIENT RELATIONS

• Serve as the primary operational point of contact for company ownership and third-party clients, providing responsive, transparent, and solutions-oriented service.

• Prepare and lead owner/client calls, property reviews, site visits, and presentations; provide accurate performance updates, forecasts, risks, recommendations, and documented follow-up.

• Ensure each asset is operated in accordance with the approved business plan, management agreement, budget, reporting calendar, approval thresholds, ownership directives, and confidentiality requirements.

• Support new business, management agreement renewals, portfolio transitions, acquisitions, dispositions, due diligence, takeovers, and offboarding as assigned.

4. TEAM LEADERSHIP AND TALENT DEVELOPMENT

• Recruit, select, onboard, coach, and develop Property Managers and other assigned leaders; ensure each asset has an appropriate staffing plan and clear performance expectations.

• Conduct regular one-on-one meetings and portfolio leadership meetings; provide training, resources, feedback, and recognition that strengthen accountability, collaboration, and team morale.

• Complete or oversee performance reviews, succession planning, corrective action, employee documentation, compensation recommendations, incentive plan administration, timecard review, and paid-time-off approvals in partnership with Human Resources and leadership.

• Model professional conduct, confidentiality, reliable attendance, ethical decision-making, and compliance with company policies and the employee handbook.

5. LEASING, MARKETING, REVENUE, AND RESIDENT EXPERIENCE

• Oversee pricing, revenue management, concessions, renewal strategy, market surveys, advertising, digital lead management, outreach, reputation management, and resident retention plans.

• Ensure application, screening, leasing, move-in, renewal, transfer, move-out, deposit disposition, collection, legal notice, and eviction processes are timely, accurate, and compliant.

• Provide direction and escalation support for resident complaints, conflict resolution, service recovery, and sensitive resident matters while balancing policy, fair treatment, risk, and client objectives.

6. MAINTENANCE, CAPITAL PROJECTS, AND VENDOR MANAGEMENT

• Partner with maintenance and facilities leadership to maintain property condition, curb appeal, preventive maintenance, unit turns, service standards, inventory controls, emergency readiness, and life-safety compliance.

• Oversee vendor selection, competitive bidding, contracts, insurance and compliance documentation, performance, invoice approval, and dispute resolution in accordance with company and accounting requirements.

• Manage renovation and capital improvement work to approved scope, budget, schedule, quality, and communication standards; coordinate resident impact and operational continuity.

7. COMPLIANCE, RISK MANAGEMENT, AND EMERGENCY RESPONSE

• Maintain current working knowledge of Fair Housing, landlord-tenant requirements, local rental laws, employment practices, safety standards, licensing requirements, and other regulations applicable to the assigned portfolio.

• Ensure completion of operational, financial, file, vendor, safety, and policy audits; correct findings promptly and maintain reliable supporting documentation.

• Oversee incident reporting, insurance claims, legal matters, code violations, resident safety concerns, data privacy, and coordination with counsel, insurers, law enforcement, or public agencies as appropriate.

• Participate in emergency and after-hours response when required; ensure site-specific emergency plans, communication protocols, vendor contacts, and escalation paths are current and understood.

8. SYSTEMS, REPORTING, TRANSITIONS, AND CONTINUOUS IMPROVEMENT

• Ensure accurate and timely data entry in property management, accounting, revenue management, customer relationship management, maintenance, and reporting systems.

• Lead or support asset transitions, including staffing, system setup, vendor onboarding, resident communication, financial cutover, file transfer, physical inspections, and opening balance validation.

• Identify scalable best practices, process improvements, training needs, and technology opportunities; partner across departments to improve consistency, efficiency, resident service, and portfolio results.

KEY MEASURES OF SUCCESS

Financial Performance

NOI, revenue, controllable expense, budget and forecast accuracy, cash collection, and capital execution.

Portfolio Operations

Occupancy, exposure, turns, work orders, property condition, resident service, compliance, and risk reduction.

Owner and Client Experience

Reporting quality, responsiveness, trust, issue resolution, business-plan execution, and third-party client retention.

People Leadership

Staffing stability, performance management, talent development, engagement, accountability, and succession readiness.

QUALIFICATIONS AND COMPETENCIES

• Minimum of five (5) years of progressive multifamily property management experience, including demonstrated multi-site or regional leadership responsibility.

• Experience overseeing both owner-managed and third-party fee-managed assets is strongly preferred, including direct owner/client communication and reporting.

• Strong financial acumen with the ability to interpret profit-and-loss statements, budgets, forecasts, general ledger detail, rent rolls, variance reports, capital plans, and operating metrics.

• Proven ability to lead Property Managers, influence cross-functional partners, manage conflict, establish accountability, and develop high-performing teams.

• Working knowledge of Fair Housing, landlord-tenant laws, employment practices, vendor compliance, resident relations, risk management, and multifamily operational standards.

• Proficiency with property management and accounting systems such as Yardi and On-Site, revenue management and CRM platforms, Microsoft Office, and standard business communication tools.

• Valid driver's license, reliable transportation, and ability to travel regularly throughout the assigned portfolio, including occasional overnight travel.

• Ability to work a flexible schedule and respond to urgent operational needs outside normal business hours, including occasional evenings, weekends, and holidays.

PHYSICAL DEMANDS AND WORK ENVIRONMENT

• Work is performed in office, residential, exterior, maintenance, and construction or renovation environments, with regular computer, telephone, meeting, and travel activity.

• Must be able to access and inspect all areas of assigned properties, including stairs, exterior grounds, vacant units, maintenance areas, and uneven surfaces, with or without reasonable accommodation.

• The position may encounter weather conditions, noise, dust, odors, and other conditions typical of multifamily property operations and active project sites.

Benefits