Associate Property Manager

Job Description

ABOUT BAUM ASSET MANAGEMENT

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Baum Asset Management (“Baum”) is a commercial real estate management firm with more than 35 years of continuous property management experience. Baum manages all commercial property asset classes — multi-family, retail, industrial, office, and mixed-use — across Chicagoland and the greater Midwest.

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We are a technology-forward company. We have designed our asset and property management systems from the ground up to take advantage of best-practice solutions across the asset management spectrum, and we actively deploy AI and modern collaboration tools in our day-to-day operations. By pairing exceptional human capital with industry-leading technology, Baum approaches asset management from an owner’s perspective to maximize property value.

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Baum Asset Management is owned by Baum Realty Group, a Chicago-based commercial real estate firm.

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THE ROLE

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We are seeking an associate property manager. You will be responsible for overseeing and directing operations at properties, including multi-family, retail, industrial, and office buildings, with the support of the VP of Property Management. You will manage the day-to-day needs of these properties, including coordinating maintenance and custodial tasks, while interacting with tenants to collect and process rental payments, maintain lease agreements, show spaces to potential lessees, and enter into new leases with tenants. You may also need to assist in showing the property to new vendors and contractors, turning over spaces to new tenants, and terminating tenants.

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You need a high level of organization and the ability to resolve multiple simultaneous client service questions successfully. Communication is key – you will be the point of contact for tenants and building owners, as this manager role would oversee several buildings at varying locations.

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DUTIES AND RESONSIBILITIES

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Manage Leases

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Property managers are often the go-to contact for tenants and potential tenants. They may be responsible for executing lease documents, updating leases before they expire, and sometimes showing available spaces to businesses seeking commercial space. They also enforce the lease clauses, including rent steps, escalation requirements, maintenance requirements for both landlord and tenant, exclusive clauses, kick-out clauses, insurance, co-tenancy requirements, etc. The Property Manager will report any questions relating to this task to the VP of Property Management. 

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Direct Maintenance Activities

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Property managers are also responsible for working with third-party service providers to repair and maintain crucial building systems like HVAC, plumbing, and electrical. For any sites where internal Baum maintenance handles duties for a site, the manager must be sure to bill all activities to the property per the management agreement weekly at a minimum to ensure accurate payable and cashflow depiction for Ownership and accounting. In this role, you will negotiate and prepare contracts for long-term maintenance activities and individual projects and often supervise maintenance projects to ensure they are completed according to expectations. You will solicit bids from multiple contractors for projects like repaving parking lots, roof replacement, etc. You will also serve as the point of contact to ensure that vendors are correctly paid, and that Management has proper insurance and W-9s from each vendor. You will also ensure all reporting is saved to send at year-end for 1099 procedures.

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Residential Tenant Leasing and Commercial Service

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You will prepare advertisements and other marketing materials for apartment rentals as necessary. You will be the first line of defense and respond to all tenant complaints, including repair requests and disputes concerning other tenants. You will also be required to collect all monies due from tenants and follow up with correct action during any periods of delinquency. 

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Report Financial Information

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Reporting financial information is a critical component of this job to ensure that our clients are fully informed. You will gather financial data and prepare reports on budgets, occupancy, and overhead costs to help support decision-making and ensure profitability. You may also submit monthly or annual reports on property income, tenant payments, vendor payments, and reconciliations. The manager is responsible for reviewing financials with accounting to ensure all expenses are properly coded.

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Manage Cash Flow

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In addition to reporting on financial information, property managers also actively manage cash flow, establishing budgets and identifying opportunities to reduce overhead costs. You will analyze tenant trends and leases to generate ideas to enhance income. You will also be responsible for collecting rent payments and paying subcontractors. You will identify if large projects that will cause a cash issue are coming to fruition so that Ownership can make necessary funding decisions. Where there is excess cash, you will inform Ownership for distribution purposes. Property managers also assist with the data entry of payables and receivables to ensure that cash flow is up to date. Manager must communicate regularly with Ownership, tenants, internal senior management team members, and potentially legal regarding tenant delinquencies that affect cash flow.

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REQUIRED SKILLS AND QUALIFICATIONS

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Property managers must be highly organized and able to successfully interact with tenants, property owners, and third-party contractors; they also must communicate fully with the Management team. Accordingly, we expect you to have the following skills:

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• Work experience – one to three years of experience in property management, commercial real estate, facilities, hospitality, or a comparable client-service and operations role. Strong candidates directly out of a real estate or finance program will be considered.
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• Customer service – commercial property managers are often the go-to contact for tenants; they need to possess excellent customer service skills and the ability to resolve conflicts
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• Negotiation skills – commercial property managers frequently assist in the negotiation of leases or lease clauses with clients, so diplomacy and skill with compromise are vital for creating leases that benefit both parties
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• Software skills – practical fluency with Microsoft 365 (Outlook, Word, Excel), and demonstrated willingness and ability to learn property management software.
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• AI tools – some experience with tools like Claude and Notion, as well as practical, day-to-day familiarity using AI to abstract leases, summarize correspondence and meeting notes, draft tenant and vendor communication, analyze operating-expense variances, and prepare first drafts of reports. You do not need to be a technologist; you do need to understand what these tools are good at, where they need human verification, and how to use them to increase your own throughput.
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• Financial management – creating budgets, reporting on financial performance, and collecting tenant rent payments are all important aspects of this role, so familiarity with financial management is also necessary
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• Contractor relations – commercial property managers hire and supervise contractors to conduct maintenance and cleaning activities, so they should have a background in supervising personnel and directing projects
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• Maintenance background – manager should be able to identify issues in a building, and come up with a reasonable solution and expectant range of budget from experience with the assistance and guidance of senior-level managers
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• Organization and multitasking skills – commercial property managers should be highly organized and able to quickly pivot between the varied responsibilities of this position
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• License requirements – Illinois real estate license (Leasing Agent or Broker), or the ability to obtain one within six months of hire. Baum will support the cost and coursework.
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ROOM TO GROW

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This role is the entry point into property management at Baum. As you demonstrate command of the work, you will take direct responsibility for individual properties, with a path to Property Manager as the portfolio grows.

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COMPENSATION AND BENEFITS

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Base salary: $67,000 annually, commensurate with experience and credentials

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Bonus: Discretionary annual performance bonus

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Benefits include medical, dental, and vision coverage; a 401(k) plan; paid time off and paid holidays; mileage and cell phone reimbursement; and company-paid licensing, continuing education, and professional association dues (IREM, BOMA, and comparable). Salary and benefit information is provided in accordance with the Illinois Equal Pay Act.

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WORK ENVIRONMENT AND PHYSICAL REQUIREMENTS

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• Chicago-based, in-office and on-site role. This is not a remote position — our buildings require eyes on them.
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• Regular travel among properties throughout Chicagoland. A valid driver’s license, reliable insured vehicle, and acceptable driving record are required; mileage is reimbursed.
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• Participation in an after-hours and weekend emergency on-call rotation.
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• Ability to conduct property inspections, including walking building interiors and exteriors, climbing stairs, accessing roofs and mechanical rooms, and occasionally lifting up to 25 pounds.
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EQUAL OPPORTUNITY

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Baum Asset Management is an equal opportunity employer. We do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, marital status, military or veteran status, order of protection status, or any other characteristic protected by federal, state, or local law. Reasonable accommodations are available to applicants and employees with disabilities; please contact us to request one.

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Baum participates in pre-employment background screening consistent with applicable law.