Property Management Services

The Los Angeles City Employees’ Retirement System (LACERS) seeks a qualified property management firm to oversee day-to-day operations at its headquarters, located at 977 North Broadway, Los Angeles - a five-story 65,000 square feet facility with 3 levels of underground parking. The selected Property Manager (PM) will ensure compliance with all legal, safety, and ethical standards, maintain tenant relationships, and manage financial reporting, budgeting, and capital expenditures. Responsibilities include hiring and supervising staff, maintaining an on-site office, and engaging outside vendors through competitive bidding, with a preference for unionized firms. The PM will provide monthly, quarterly, and annual financial reports, manage leases, collect rent, and ensure timely maintenance and repairs. Additionally, the PM may serve as project manager for construction projects beyond routine maintenance and will oversee contractor performance and compliance. The PM must maintain all property-related agreements and cooperate with audits. Financial management duties include maintaining operating accounts, producing GAAP-compliant reports, and issuing necessary tax documents. The PM will act in a fiduciary capacity, ensuring high standards of service aligned with buildings of similar class and quality, while providing LACERS with timely updates and proactive communication.

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