Questions to ask at a commercial retail property managment interview. - national firm
I have a job interview tomorrow for a commercial property management position, that I feel like I’m the perfect for. I’ve worked in PM for 5-7 years residential mostly , but also a bit commercial (office mostly). What are some impressive questions or comments I can make during the interview.
[{"id": "fle65nt", "text": "Have you done research on the firm? Do you know what type of assets they manage? How many? Type of companies in their portfolio?\n\nDo you know the different type of lease contracts(gross vs net)? \n\nWith how bad the situation is going to be for property owners everywhere you really need to show value in how to problem solve when a tenant asks for rent abatement or a discount\n\nEdit: depending how big the firm is, you should also ask what their network of maintenance personnel is like", "replies": [{"id": "fle9ewm", "text": "This is for property managment for a national retail chain, so I\u2019m not working for a nation real estate firm. I do know the difference between the different type of leases and plan to ask what amount of stores are NNN vs gross. \n\nI\u2019ve done a lot of research on the firm. this is actually my third interview. I have years of high end luxury residential managment, but I do hold an MBA in real estate which is all commercial real estate based. So hopefully that fills the gap on commercial real estate knowledge. \n\nBut good point I\u2019m going to ask how much is subcontracted and how much Maintennace is inhouse", "replies": [{"id": "flh8m59", "text": "I'd ask about their typical lease responsibilities and how diverse they are (do they require their own lease or are these on different landlord leases?).  Also what systems they have for tracking this.  I'm not sure that will impress them but I'd want to know that lol.\n\nI'd assume this position will be heavy in maint management?  I'd ask about the capital repair schedules too, if that is your job and how good the existing work is.  \n\nIE is your day to day generally going to be to update things as per schedule and deal with contractors in an orderly way (say once a month you schedule all hvac services for your portfolio that are do in the next month) vs you get a call from some random store manager freaking out everytime something needs attention.\n\nAlso I've never done pm for a retail company, but in my experience res and com management are night and day.  Com has been mostly construction management and the guys who are good at that do well.  Leasing, accounting etc are done by professionals for that specific thing.  In res its like you wear all hats in everything.", "replies": [{"id": "fm490q7", "text": "Hi! Thought I\u2019d give an update, they called and said I got the job, and would send over the offer letter this week, got a call yesterday that the entire company is on a hiring freeze for two months because of the corona virus. (I anticipated that to happen though with everything going on) I have a connection there too, so I know it\u2019s not a BS excuse. \n\nI\u2019m bummed, but I\u2019m still employed at my current role. So if it works out , it works out.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]