Position Title: Summer Intern – Asset Management
Click here to apply: https://home.eease.adp.com/recruit2/?id=4427551&t=1
Location: 255 Washington Street, Newton, MA
Reports To: Asset Manager
Time Period: May 28 - August 16, 2013
Hours: Monday – Friday, 9:00am – 5:00pm, No OT
Position Summary
The Intern will work collaboratively with both the Asset Management and Leasing departments. The internship would focus on improving the reporting capabilities and processes and overall operational efficiency of both departments.
Responsibilities
· Work closely with both teams to improve reporting capabilities and processes and assist with the development of new reports.
· Assist with periodic property valuations and lease analysis utilizing ARGUS.
· Participate in the review of operational results and assist with the preparation of monthly and quarterly variance reports.
· Complete special ad hoc projects and analysis as needed.
· Assist in the creation of a new leasing market database.
o Create database for tracking leasing data for all RMR markets.
o Create processes for how the information will be maintained and updated/refreshed.
o Provide a source whereby decision makers can easily access leasing info and stats on all markets in which RMR operates.
o Determine where best the information should be stored (i.e. a separate drive, the LPS SharePoint site, etc).
o Coordinate with Regional VPs on sources of local data for smaller markets.
· Assist in the development of the Quarterly Asset Management & Leasing Report.
o Extrapolate data from existing systems in order to create and maintain reports.
o Test population of reports and explore opportunities to automate report creation through existing technologies (Yardi).
o Work collaboratively with Accounting and Systems to ensure accuracy and timeliness of data needed for report creation.
· Assist with improvements to the job cost process.
o Review the current job cost process and identify opportunities to improve the accuracy of information expedite the approval process
o Explore job cost reporting capabilities within Yardi that would support management in their review and approval of proposed jobs and swaps.
o Work with the IT and Systems departments to determine the process and timeline for migrating the job cost process into a SharePoint environment.
o Draft new job cost guidelines for inclusion in the Asset Management Policy & Procedure Manual.
· Assist in the implementation of Yardi Advanced Budgeting & Forecasting (ABF)
o If the company proceeds with Yardi ABF, compare reporting capabilities of Yardi ABF v. Idysys and RMR Reporting to identify any gaps.
o Review current budget process to identify opportunities to further automate the process.
· Complete special ad hoc projects and analysis as needed.
o Assist with the preparation and variance analysis of reports for the company’s Board of Trustees.
o Assist with the creation of ARGUS models for periodic valuations and lease analysis.
o Maintain the quarterly Property Profile Sheet database.
Requirements
Availability to work 40 hours per week.
Currently a Junior, Senior, or graduate student at an accredited college or university.
Business Related Degree, Minimum 3.0 GPA.
· Proficiency with Microsoft Office product suite. Experience with Yardi and ARGUS a plus.
· Strong analytical skills and ability to model complex transactions in Excel.
· Knowledge of finance and accounting principles.
· Interest in commercial real estate.
· Excellent written and oral communication skills.
Previous office experience is a plus.
Ability to work both independently and as a team player.
Strong work ethic and commitment to meeting deadlines.
Company Overview
Founded in 1986, Reit Management & Research LLC (RMR) is a privately held asset management company that manages one of the largest portfolios of publicly owned real estate in the United States with approximately $22.0 billion of assets under management, including more than 1,700 properties located in the 46 states, Washington D.C., Puerto Rico and Ontario, Canada. RMR has approximately 820 employees in its headquarters and regional offices located throughout the country. RMR manages CommonWealth REIT (NYSE: CWH), an office and industrial real estate investment trust, or REIT; Hospitality Properties Trust (NYSE: HPT), a hospitality REIT; Senior Housing Properties Trust (NYSE: SNH), a healthcare REIT; a government property focused REIT, Government Properties Income Trust (NYSE: GOV); and Select Income REIT (NYSE: SIR), a REIT that focuses on net leased, single tenant properties; and also provides management and administrative services to two publicly traded real estate based operating companies: Five Star Quality Care, Inc (NYSE Amex: FVE) and TravelCenters of America LLC (NYSE Amex: TA). An affiliate of RMR, Sonesta International Hotels Corporation, is one of HPT's hotel managers; and another affiliate of RMR, RMR Advisors, Inc. is the investment manager of a publicly owned mutual fund, which principally invests in securities of unaffiliated real estate companies.
