Real estate manager performance evaluation
1. Identify KRAs of Real estate manager
“Key Result Areas” or KRAs refer to general areas of outputs or outcomes for which the department’s role is responsible. You also need to understand some definitions: Key performance areas, Key performance indicators.
2. Identify job objectives
Do you set up objectives for Real estate manager?
• 1 month.
• 3 months.
• 6 months.
• 12 months.
3. Identify job description of Real estate manager
You can use some tasks of Real estate manager as follows:
• Reviews tenant billings.
• Negotiate lease renewal or lease termination terms, including amount to be paid, length/timing, tenant improvement allowances and/or landlord work, etc.
• Directs property management staff in the administration of lease terms, tenant and landlord responsibilities, and tenant default actions. Participates in lease negotiations on renewal or workout lease transactions, and coordinates move-ins/move-out.
• Preparation of reports for and participation in periodic property/portfolio reviews, which can require detailed market research.
• Develops operating income, expense budgets and capital budgets to reflect the owner’s objectives for operating the property, cash flow requirements and leasing strategy.
4. Job standards/procedures
It is very difficult to appraise Real estate manager if you have not job standards, job procedures for this positions.
Try it now:
• How to do each task?
• How to measure performance of each task?
• How to control/monitor each step of a process?
5. Real estate manager evaluation forms
You can you types of performance evaluation as follows:
• Peer form.
• Self appraisal form.
• Customer/Other department appraisal form.
• Superior appraisal form.
• Subordinate appraisal form.
6. Related docs to Real estate manager evaluation
• Real estate job descriptions
• Real estate interview questions
• Performance evaluation handbook
• Performance evaluation examples
• Performance evaluation methods
• Performance evaluation process
• 360 degree performance evaluation