Commercial Property Manager

POSITION DESCRIPTION We are seeking an experienced retail/commercial or mixed-use Property Manager to oversee the efficient operation of a complex, GTA-based portfolio comprising approximately 700,000 square feet of retail commercial space (~130 retail units) and ~50 residential units. The portfolio includes grocery-anchored shopping centres and street-front retail, requiring strong expertise in commercial property operations, tenant relations, and financial management, including CAM and realty tax recoveries, along with the ability to manage residential considerations within a predominantly retail environment. Reporting to the Vice President, Operations and working with our team at the Head Office location, the Property Manager will serve as the primary point of operational accountability for the portfolio. This is a hands-on, high-accountability role managing a complex, multi-site retail portfolio, with responsibility for day-to-day site operations, financial management and controls, regular monthly site visits and the oversight of capital and special projects. This includes accountability for operating and capital budgets, CAM and realty tax recoveries, cost recovery structures, and overall financial performance, as well as the ability to build and maintain effective working relationships with tenants, contractors, leasing brokers, and municipal stakeholders. Terracap maintains a dedicated leasing department; this role partners closely with Leasing to support operational coordination and site readiness. The successful candidate will bring 5–8 years of relevant commercial or mixed-use property management experience, ideally within retail-focused or multi-site portfolios, a strong understanding of major building systems, and the ability to manage multiple properties in a fast-paced, tenant-facing environment. Proficiency with Microsoft Office and property management software (Yardi preferred), along with the ability and willingness to travel and respond to after-hours and emergency situations, are essential to success in this role. KEY RESPONSIBILITIES Site Management Operations Serve as the primary operational lead responsible for the efficient day-to-day operation of the assigned portfolio, including the assessment, oversight, and management of major building systems; Conduct regular monthly site inspections at a minimum, increasing frequency as required; Identify operating efficiencies and recommend effective maintenance practices with a focus on risk management, site safety, and security; Ensure properties are maintained to Terracap’s standards while meeting ownership objectives. Tenant, Stakeholder & Community Relations Develop and maintain strong professional relationships with all tenants, addressing operational concerns and ensuring an effective tenant relations program is in place and adhered to; Contractors and consultants, ensuring services are competitively priced, high quality, and aligned with portfolio needs; Leasing brokers, supporting leasing initiatives through operational coordination (leasing negotiations handled by a dedicated leasing team); and City officials and community stakeholders, fostering a positive public image for the properties and Terracap; Assist the internal leasing team as required by coordinating operational, construction, and tenant-related matters; Assist with marketing initiatives for the properties, as required; Manage and track Certificates of Insurance for all tenants; Review and abstract lease documents, noting key obligations and terms. Coordinate, oversee, and manage repair and maintenance work performed by technicians, vendors, and contractors, including landscaping, janitorial services, snow clearing and removal, electrical, painting, plumbing, HVAC, roofing, and security systems; Tender, negotiate, and manage maintenance contracts and oversee all property-related service agreements and repair work; Serve as a technical resource on electrical, mechanical, and HVAC systems, including troubleshooting, preventative maintenance, and repair; Direct and control personnel and resources to ensure properties are properly maintained, including the hiring, training, evaluation, and supervision of site staff, where applicable. Operational Responsiveness & Professional Development Respond to after-hours and emergency calls, as required; Maintain up-to-date knowledge of industry best practices through participation in educational opportunities, professional publications, and industry organizations; Take ownership of new and evolving responsibilities and actively seek opportunities to add value to the portfolio. Financial Oversight, Budgeting & Recoveries Assume primary responsibility for the financial performance of the portfolio, including operating budgets, capital budgets, and cost recovery structures; Create annual operating and capital budgets for each property and manage performance against approved budgets by analyzing variances and initiating corrective actions as required; Collect and analyze market data, including competitive CAM and realty tax rates, to support budgeting, recoveries, and tenant discussions. Revenue Management, CAM & Tax Recoveries Ensure rents and other charges are billed and collected accurately and in a timely manner; Conduct weekly accounts receivable analysis, including detailed review of tenant balances, arrears, and recoveries; Respond to tenant inquiries related to account balances, CAM, and year-end reconciliations; Prepare and issue default notices and negotiate payment plans, as required; Review and approve monthly rent charges for processing; Create and process chargeback invoices for recoverable costs and post to tenant accounts; Ensure cash receipts are properly banked and posted in a timely manner. Accounts Payable & Financial Controls Ensure timely and accurate processing of accounts payable, confirming that work has been completed and invoices are complete, accurate, and properly supported; Maintain appropriate financial controls to ensure alignment with approved budgets and ownership objectives. Reporting & Stakeholder Communication Prepare quarterly operational and financial reports for investors, including commentary on portfolio performance, tenant matters, capital expenditures, and accounts receivable; Support senior management with financial analysis and reporting related to operations, tenant performance, and capital initiatives, as required. Capital and Special Projects Capital Planning, Project Oversight & Redevelopment Support Attend monthly scheduled senior management meetings (via conference call) to discuss matters related to operations, development, leasing coordination, accounts receivable, tenant issues, and capital planning; Assist with the overall redevelopment and repositioning of properties, including coordination related to leasing support, tenant build-outs, landlord’s work, construction activities, and required municipal approvals; Oversee and supervise capital projects and major repairs, ensuring projects are delivered on time, within approved budgets, and in accordance with Terracap’s standards and ownership objectives; Coordinate closely with internal teams, consultants, and contractors to ensure that day-to-day property operations and tenant use are maintained throughout construction and capital project activities; Monitor project progress, manage risks, and resolve issues proactively to minimize disruption to tenants and portfolio operations. QUALIFICATIONS / REQUIREMENTS 5–8 years of progressive experience managing commercial or mixed-use properties, with a strong preference for retail-focused portfolios, including grocery-anchored assets (experience limited to residential-only property management will not be considered); Demonstrated experience managing large, multi-site portfolios with significant tenant counts and complex operating structures; Proven experience with CAM and realty tax recoveries, operating and capital budgeting, variance analysis, and financial controls; Strong working knowledge of major building systems, including electrical, mechanical, HVAC, roofing, and life safety systems; Experience overseeing capital projects and major repairs in live, tenant-facing environments; Ability to operate with a high degree of autonomy and accountability, exercising sound judgment in a fast-paced environment; Excellent verbal and written communication skills, with the ability to be assertive while maintaining a professional and collaborative demeanour; Strong organizational and time-management skills, with the ability to manage multiple priorities across a complex portfolio; Demonstrated negotiation and problem-solving capabilities. Technical & Professional Requirements RPA designation or equivalent real estate accreditation is considered an asset; Proficiency in Microsoft Office and real estate software (Yardi preferred); Ability and willingness to travel across the GTA; Valid G driver’s license; Ability to respond to after-hours and emergency situations, as required. BENEFITS Health, dental, and RRSP matching provided. CONTACT US Qualified candidates are invited to submit a resume and cover letter by February 2, 2026. Only those selected for an interview will be contacted. #J-18808-Ljbffr