Head of Asset Management

Why Flock?

There are 17 million Americans who own rental property. Most don't want to be landlords anymore, but  selling isn’t a good option. Why? You’d lose income and appreciation, trigger tax liabilities, kick out your tenants, have to fix up the house – the list goes on! Flock is here to help.

Flock is building the retirement solution for landlords. We’ve created the first tech-driven 721 Exchange to help individual rental property owners seamlessly convert their real estate into passively owned shares in a professionally managed portfolio of homes. Some people call it the UPREIT; we call it "The People’s REIT."

In a traditional property sale, the transaction marks an end to the buyer/seller relationship – not so with Flock. When owners contribute their real estate to Flock’s portfolio, a new journey begins: one that has been carefully crafted to both relieve their pain points and provide tangible benefits for years to come. It’s a better way to sell and a better way to own real estate.

We’re fortunate to be backed by a great group of venture capital firms, including Andreessen Horowitz, Human Capital, Susa Ventures, Box Group, and Primary Venture Partners, as well as a large network of strategic investors, including 1Sharpe Ventures, Redwood Trust (NYSE: RWT), and Fred Tuomi (former CEO of Invitation Homes).

The Position

Flock is hiring a Head of Asset Management to manage the performance of a portfolio of hundreds of single family rentals. You will own every aspect of the asset lifecycle at Flock: leasing, tenant relations, move-outs, maintenance, renovations, and dispositions. You will build and lead the internal property operations team and external property managers to ensure strong portfolio performance. 

Responsibilities

• Build and lead a lean, highly-capable, results-driven team of internal employees and external managers to manage hundreds of homes today (scaling quickly to thousands!). 
• Own and oversee the entire asset lifecycle post-acquisition, from leasing to resident onboarding, maintenance, tenant relations, move-outs, evictions, and renovations.
• Develop processes and standard operating procedures for all activities in the asset’s lifecycle. 
• Evaluate underperforming assets and determine optimal strategy for maximum value creation. 
• Manage to specific portfolio performance targets including occupancy, homes listed, homes in renovation, delinquencies, and portfolio yield.
• Own and report on portfolio and asset level PnLs.
• Work closely with Product to iterate on our centralized asset database to track, monitor , and report on costs and performance throughout an asset’s lifecycle. 
• Work with cross-functional stakeholders from Investments, Sales, and Capital Markets to identify opportunities for improved operating performance.  
• Drive organizational accountability and prioritization of follow-ups on key business initiatives discussed during senior leadership discussions. 

Qualifications

• Background in real estate, asset management, or related industry. Track record of owning high volumes of fixed assets with the goal of making accurate and timely decisions relative to maintaining assets and creating value through the asset lifecycle.
• Strong Analytical and Data Collection Capabilities. Ability to identify, prioritize and articulate trends across portfolio KPIs, leading to enhanced performance and profitability across the portfolio. 
• Problem solving skills. Ability and experience identifying problems and determining the causes and solutions to those problems across a wide range of assets. 
• A Bias to Action. Resourceful and able to take ownership of problem identification, solution development, projects and relationships; ability to work independently. 
• Results Driven Approach. Disciplined and hard-working with a focus on setting and meeting aggressive metric targets, deadlines and budgets. 
• Strong Attention to Detail. The ability to focus on all areas of a project or task, no matter how small. Thorough in reviewing and delivering high quality, accurate and timely work. 
• Adaptability. Ability to adjust rapidly and frequently to new situations and help others understand and adapt to change. Willing and able to work in a fast-paced atmosphere with a wide range of responsibilities and  deal with constantly evolving deadlines, requirements and challenges. 
• Vision, Judgment, and Action. Exceptional judgment and critical thinking abilities accompanied by a willingness to take calculated risks and evolve as new information is collected and factored  into future decisions. 
• Project Management Experience. Experience managing complex projects and the ability to support multiple strategic projects and initiatives simultaneously
• Stake-holder management Experience. Experience with, and sophisticated approach to, multi-stakeholder relationship management across tenants, vendors, and investors or equivalent industry stakeholders.  
• Excellent Communication Skills. Ability to communicate effectively (verbal and written) with both internal and external stakeholders. 
• Experience Leading Effective Teams. Strong interpersonal skills to enhance accountability on key initiatives and follow-ups. Work across other functional groups and influence people throughout the  organization who are not direct reports. 
• Proficiency in Excel required. Experience in Appfolio or other equivalent property management software preferred but not required. 
• Travel as needed.

The annual salary range for the target level for this role in NYC is $150,000-$225,000, target equity, and benefits (including medical, dental, vision, and 401(k).