JOB PROFILE
What Is a Contracts Manager?
IN THIS JOB PROFILE
You Will Learn.
- What is a Contracts Manager?
- What are the responsibilities of a Contracts Manager?
- What qualifications does a Contracts Manager need?
- What skills does a Contracts Manager need?
- Who employs a Contracts Manager?
- What is the average salary of a Contracts Manager?
- Where the latest Contracts Manager jobs are and how to apply for them.
What Is a Contracts Manager?
A Contracts Manager within property and asset management is a skilled professional responsible for overseeing and managing the contractual aspects of property and asset management activities.
This role entails working closely with property owners, tenants, vendors, and service providers to ensure that contractual agreements are properly drafted, negotiated, executed, and administered.
A Contracts Manager plays a pivotal role in the property and asset management industry, acting as a bridge between stakeholders and ensuring that contracts are effectively managed throughout their lifecycle.
They are responsible for drafting and reviewing contracts, negotiating terms and conditions, and ensuring compliance with legal and regulatory requirements. Additionally, they monitor contract performance, manage amendments and renewals, and handle any contract-related disputes or issues that may arise.
What Are the Responsibilities of a Contracts Manager?
The responsibilities of a Contracts Manager can encompass a wide range of tasks related to managing contracts and agreements associated with real estate properties and assets.
Contracts Managers will have to prepare, review, and negotiate contracts related to property leases, rental agreements, service contracts, vendor agreements, and maintenance contracts to ensure compliance with legal requirements and organisational standards.
They will oversee lease agreements for tenants, including lease renewals, amendments, and terminations, ensuring accurate and up-to-date lease documentation.
Contracts Managers are required to manage contracts with vendors, contractors, and service providers for property maintenance, repairs, renovations, and other services. They will monitor performance and ensure adherence to contract terms.
Contracts Managers must also identify and mitigate potential risks associated with property and asset management contracts, including liability, insurance, and environmental considerations.
While working as a Contract Manager, you will be required to:
- Oversee and manage the contractual aspects of property and asset management activities.
- Ensure that contractual agreements are properly drafted, negotiated, executed, and administered.
- Act as a bridge between stakeholders.
- Ensure that contracts are effectively managed throughout their lifecycle.
- Ensure compliance with legal and regulatory requirements.
- Handle any contract-related disputes or issues that may arise.
- Strike a balance between meeting the needs of stakeholders and safeguarding the interests of the organisation.
- Manage amendments and renewals of contracts.
Frequently Asked Questions
What Qualifications Does a Contracts Manager Need?
A Contracts Manager typically requires a combination of education, professional qualifications, and relevant experience.
Obtaining professional certifications can enhance a Contracts Managers desirability to employers. Recognised certifications include Certified Commercial Contracts Manager (CCCM) and Certified Professional Contracts Manager (CPCM).
Contract Managers are often sought after if they have a solid background in the property and asset management industry. This could include experience in drafting and negotiating contracts, vendor management, lease administration, risk management, and compliance.
To work as a Contracts Manager, you will also need a sound understanding of contract law, commercial agreements and relevant legislation regarding the property and asset management industry.
What Is the Average Salary of a Contracts Manager?
The average salary of a Contracts Manager is between £35,000 and £65,000 per year.
However, this can vary depending on factors such as experience, qualifications, location, and the size of the employer.
Who Employs a Contracts Manager?
Contracts Managers can be employed by property management companies who specialise in the management of residential, commercial, or mixed-use properties on behalf of property owners.
They may also be employed by real estate investment companies who invest in and manage real estate assets, such as real estate investment trusts (REITs) or private equity firms to oversee contracts related to property acquisitions, asset management, and leasing.
Alternatively, a Contracts Manager can also be employed by local councils, housing associations, and government agencies involved in property management and asset portfolios.
What Skills Does a Contracts Manager Need?
Contracts Managers requires a combination of skills related to contract management, real estate, and facility management.
Contracts Managers will need a strong understanding of real estate principles, including property values, market trends, leasing terms, and property types, which is essential for effectively managing contracts in this field.
They will also need proficiency in lease agreements, including commercial, residential, and retail leases, which is crucial for negotiating, reviewing, and managing lease contracts accurately.
Additionally, understanding the operational aspects of facilities, including maintenance, repairs, and tenant relations, is important for creating contracts that align with the property's management requirements.
Contracts Managers need skills in selecting and managing vendors, contractors, and service providers for property maintenance, repairs, and improvements.
Contracts Managers need strong negotiation skills to negotiate lease terms, service agreements, and other contracts related to property and asset management to secure favourable terms for the organisation.
Key skills of a Contracts Manager include:
- Contract law knowledge to draft, review, and negotiate contracts effectively.
- Negotiation skills to secure favourable terms and conditions, achieve cost savings, and maintain positive relationships.
- Effective communication is essential for Contracts Managers to clearly convey contract terms, expectations, and obligations to all parties involved.
- Analytical skills to review contract provisions, identify potential risks, and evaluate the financial and legal implications of different contractual scenarios.
- Attention to detail to ensure accuracy and completeness in contract documents.
- Organisational skills to deal with multiple contracts, deadlines, and documents simultaneously.
- Financial acumen for negotiating contract terms, assessing the financial viability of projects, and monitoring budgetary compliance throughout the contract lifecycle.
- Knowledge of property and asset management to navigate the unique challenges and requirements of the industry, ensuring effective contract management.
Planning Insights.
Searching for Your Next Contracts Manager Job?
If you're searching for your next career opportunity, why not take a look at all the latest Contracts Manager jobs available now?
We work with hundreds of local authorities and private sector organisations throughout the UK.
Why not get in contact with one of our specialists who can advise on current and upcoming opportunities?
Meet The Planning Team.
Upload CV
If you're searching for your next Contracts Manager job, why not upload your CV?
Once registered, your CV will be directed to the most relevant consultant and they will contact you when a suitable vacancy becomes available.