A regional manager, sometimes called a portfolio supervisor, has responsibility over a large number of properties, frequently covering a broad geographical area. This portfolio can comprise commercial properties or residential properties or a mix of both.
No matter the property type, the regional manager has supervisory responsibilities over the property managers of each property in the portfolio as well as the properties themselves. For this reason, recruitment, training, development, and supervision of property managers are key duties. On a regular basis, regional managers will visit the properties in their portfolios, which can entail extensive travel when properties are widespread. These site visits are vital to monitoring property performance, auditing operational and financial activities, conducting market analyses, and making marketing and rental rate recommendations.
A regional manager monitors property performance, scrutinizing revenues from the portfolio and analyzing costs to ensure a profitable operation. In many cases, responsibility for identifying and analyzing major capital expenditure programs or repositioning a property to ensure highest and best use rests with the regional managers. More routinely, regional managers ensure that the operating and capital budgets for each property are prepared properly and approved and that monthly operating statements prepared for submission to the owner are in accordance with client objectives.