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Vice President of Property Services

Salary
Competitive
Employment
Full Time
Work Place
Part Remote
Real Estate Field
Location
Indianapolis
 IN
Postal Code
46077
Country
United States

This job is no longer active.

Description


Principal Objective of Position: The Vice President of Property Services (VPPS) is responsible for overseeing the Company's multifamily housing portfolio of properties – both owned and fee. The VPPS will ensure that each property meets or exceeds its financial performance targets, regulatory compliance requirements, and ownership objectives. Financial performance and attainment of ownership objectives will be achieved by ensuring that:

  • Revenues are maximized.
  • Expenses are carefully monitored and controlled.
  • Properties are staffed optimally.
  • Employees are properly trained.
  • Properties meet lease-up goals and/or occupancy goals.
  • Stakeholder satisfaction is a continual focus – owners, lenders, regulatory personnel (when applicable), employees, and residents.
  • Assets are preserved and maintained to the highest standards.
  • Regulatory compliance and adherence to all legal requirements are reinforced.
  • Efforts to secure new third-party property management engagements are supported.

The Vice President of Property Services will also be charged with the responsibility of assisting with building the multifamily housing portfolio through business development by identifying third-party fee business opportunities with current and existing clients. The VPPS will also act as the point person for due diligence on any new properties on which Company will be taking over management.

Requirements:

1. Training/Education/Other
College degree or commensurate experience

Valid driver’s license and reliable private transportation

CPM® designation preferred

Real estate broker license preferred

Ability to be away from home overnight at least 50% of the time

2. Experience/Skills
Minimum of 10 years experience in multi-site management of at least 5,000 multifamily housing units and/or 50 to 80 multifamily projects with demonstrated ability to deliver financial and operational results.

Experience with affordable housing programs – specifically HUD project-based Section 8, Low Income Housing Tax Credit, and Rural Development.

Experience in budgeting, revenue enhancement, regulatory compliance and expense control.

Strong track record of successful personnel management, especially in remote locations.

Experience with developing third-party fee business.

Knowledge of the development/construction process and undertaking new lease-ups..

Experience with property renovations and value-add rehabs.

Experience working with multiple clients and non-profit boards.

Experience interacting with regulatory agency personnel at local, state and federal levels

3. Special Requirements
Excellent oral and written communication skills

Excellent organizational and time management skills

Strong interpersonal and consensus-building skills

Ability to hire, train and motivate personnel

Excellent team-building skills

Proven analytical skills

Excellent computer skills, with emphasis on the MS Word, Excel, PowerPoint, and Yardi

Ability to travel overnight a minimum of 15 nights per month either by ground or by air

Ability to conduct property inspections as outlined

Essential Functions:

1. Property Performance
Oversees the annual property budget process and ensures that all deadlines established by owners, regulatory agencies, or as outlined in management agreements, are met.

Ensures that property performance against budget is reviewed monthly, variances are addressed, and action agendas are published to correct any deficiencies.

Ensures that monthly owners’ reports are prepared accurately and on time.

Ensures that each property’s financial performance is re-forecasted on a monthly basis.

Monitors compliance with all corporate purchasing programs

Meets regularly with Regional Managers to build collaboration and share best practices.

Manages the process of passing through appropriate corporate expenses to the properties.

2. Regulatory Compliance
Understands and stays up to date on all requirements of the specific affordable housing programs in place on assets within the Company's portfolio.
Maintains strong relationships with all state housing finance agencies and personnel from the U.S. Department of Housing and Urban Development.

Oversees the work of the Company's compliance group to ensure that all program and regulatory requirements are being met in a timely fashion.

Works actively with Regional Managers to address and resolve any regulatory agency findings resulting from MORs, REAC inspections, file audits, and agency inspections within prescribed deadlines.

Ensures that all required regulatory reports are completed accurately and on time.

3. Asset Preservation

Ensures that the Director of Maintenance is managing all approved capital improvement projects and communicating with appropriate personnel to complete projects on time and on budget.

Ensures that regular, periodic site inspections are being performed by regional and corporate personnel, reviews results and ensures that plans are established to address issues.

Serves as the Company's consultant to clients in developing ownership objectives and strategies for assets.

Works with the Chief Operating Officer to ensure that risk management exposure is minimized.

4. Marketing/Leasing
Provides oversight to Regional Managers to ensure that individual properties implement and update marketing plans to maximize occupancy and rents.

Establishes a process to ensure that market information and market surveys (rental comparison grids) are updated regularly and available on Egnyte.

Conducts regular reviews with regional staff to evaluate occupancy levels, status of renewals and collections.

Ensures that regional staff has a complete understanding of each of the markets in which properties are located and monitors those markets regularly.

5. Personnel Management
Visits each property at least semi-annually to ensure that policies and procedures are being followed.

Recruits, hires, trains, coaches, develops and disciplines regional staff, including Regional Managers, Director of Compliance and Director of Maintenance.

Administers the compensation program for the corporate team in adherence with the approved budget and the established compensation plan. Looks for opportunities to create staffing efficiencies that reduce corporate overhead.

Completes performance appraisals for the regional team semi-annually and ensures that all site employees are reviewed two times each year.

Establishes periodic performance goals and objectives for each Regional Manager as well as the Director of Compliance and Director of Maintenance and monitors their attainment.

Monitors the established incentive compensation programs for all positions and adjusts those programs to meet client and Company objectives.

Conducts periodic staff meetings with regional and corporate staff to address property performance, policy issues, and other business.

Identifies “bench strength” in the field and communicates that information to senior management.

Works actively to ensure cooperation and collaboration between corporate support staff and property management personnel.

Works proactively to improve and develop infrastructure to support company growth and expansion.

6. Client Service
Periodically attends non-profit board meetings on behalf of Company to ensure that board requirements are being addressed.
Maintains ongoing communications with clients and owners to ensure that owner objectives are being met and issues are being promptly addressed.

Periodically attends client meetings with the Chief Operating Officer to assess client satisfaction and identify any pain points that need to be resolved.

Ensures that information and reports required by clients and owners is completed accurately and on time.

Communicates any potential concerns or issues raised by clients and/or owners to senior management promptly.

Responds in a timely fashion to questions, correspondence, e-mails and phone requests from clients, lenders, investors and regulatory agency personnel.

 

Other duties as assigned by the Chief Operating Officer.

 

Job Sector


 

Experience


10+ to 15 years


This job is no longer active.

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