Key Responsibilities of an Asset Manager:
The responsibilities of an Asset Manager will vary depending on the nature of the company they are employed by and the type of investment profile that company has - i.e., opportunistic, value add or core/core+. Roles where more value-add work is taking place will typically be more numerical in nature, for example. Typical role responsibilities include:
Work-up and deliver value-add projects supporting the short, medium and long term performance goals including (but not limited to) capex programmes, new lettings, lease regears, renewals, rent reviews, dilapidations and service charge strategy. Tasks within this include:
Leasing of properties, usually via external agents
Driving forward lease regears and renewals
Overseeing of projects - refurbishments, reconfigurations and redevelopment
Overseeing the delivery of arrears targets, rates mitigation and dilapidations through collaboration with the Property Management advisors.
Third-party management – instruct, lead, co-ordinate and supervise external professional teams (leasing agents, lawyers, project managers).
Overseeing the valuation process of assets.
Responsible for making commercially aware and financially robust recommendations to appropriate committees.
Maximise the financial performance, with key measures including NRI, valuation, return on investment and total return.
The production of quarterly reports and production of other internal reports as required
Deliver appropriate cost management against Business Plan.
A property degree
Qualified Chartered Surveyor
Experience in property management (if for a role which would be a first asset management position for the successful candidate) and asset management experience (if the role requires existing asset management experience)
Negotiation and leasing skills
Strong writing, reporting and presentation skills
Strong commercial acumen and market awareness
Numerically able including skills for working with cashflows and asset level models (typically a requirement for more value-add focused positions, particularly when either working for a PE house or in a role with a JV relationship with one)
Well-presented and strong communication skills