A Real estate agency with a large multi-state portfolio, including Affordable Housing properties and initiatives, is seeking a Director of Property Management.
Director of Property Management is instrumental to achieving the mission of providing high quality, safe and healthy affordable housing.
This position is responsible for the overall successful operations of properties and works to ensure the department operations meet or surpass industry standards.
The Director of Property Management will provide leadership and direction to six or more Regional Property Managers and their teams.
Seeking a friendly leader, with strong mentoring, management and operations skills. The ideal candidate is someone with analytical and problem solving skills; familiarity with building maintenance systems; good command of leasing practices; strong knowledge of property management and tenant/landlord practices, laws, rules and regulations; knowledge of government housing programs and regulatory requirements; strong team-building and interpersonal skills, strong written and verbal communication skills; and proficient with computer systems. Candidate must enjoy mentoring and have the ability to create a cohesive team. Experience with implementing processes or procedures would be very helpful.
- Under the direction of Senior leadership, oversees the property management for each community in the portfolio, ensuring that building operations are fiscally sound and achieving the financial performance goals, and the properties are well managed and maintained.
- Assures compliance with all laws, rules, regulations, policies and procedures.
- Promotes the company’s mission and philosophy.
- Review financial and variance reports on monthly and quarterly basis and implement timely correction measures, as necessary.
- Review vacancy reports; monitor resident income re-certifications; supervise provision of a variety of additional analytical/statistical reports on the operations, program compliance, government and investor compliance and other activities to ensure desired occupancy levels and return on investment.
- Report regularly to management.
- Oversee the preparation of month-end property performance and financial narratives, ensuring the property managers are explaining to property owners the relevant activity for each month.
- Review, interpret, and apply applicable laws and regulations, and company policies and procedures.
- Responsible for compliance with Fair Housing, Non-Discrimination and housing legislation.
- Ensure Regional managers are monitoring that lease agreements are up to date, and provisions are enforced with each tenant.
- Continuously research and study innovative practices in top performing companies across various industries and pilot new and borrowed ideas in the property management team.
- Negotiate management contracts and other contracts in accordance with established criteria; as to protect the company’s interest. Must be able to determine when contracts warrant investor, partner and/or lender review and/or approval.
- Implement an effective financial strategy, including budgeting, cost control, forecasted expenditures and revenue improvements, oversee the development of yearly operating budgets/forecasts. •
- Maintain clear line of communication with each property owner/partner and foster client relations.
- Oversee risk management; ensure monthly property walkthrough inspections are completed and reporting with findings is documents.
- Responsible for understanding and complying with public funding sources at each property, HUD, Section 8 as an example.
- Develop and maintain property management systems, including policies and procedures.
- Ensure coordination of property operations, including building maintenance and rehabilitation work.
- Responsible for ensuring all Regional and property managers understand, monitor and are approving and properly coding all of the expenses for each property.
- Responsible for taking care of all escalated tenant complaints and responding to emergencies.
- Responsible for overseeing responses to and following up with all emergency situations at each property and if needed, coordinating with insurance adjusters and overseeing the management of any claim process. Ensure partners/investors/lenders remain informed.
- Monitor watchlist properties and assist in the development and implementation of workout plans to resolve Watchlist issues and maintains Watchlist data.
- Work collaboratively with Regional and property management staff, Maintenance and Accounting to prepare annual operating and capital improvement budgets and long-term management plans for all properties and ensure timely completion and submission of financial reports to regulatory agencies, partners, investors and company leadership.
- Conduct project investment reviews, including quarterly financial reviews, annual site inspections, tenant file review and periodic reviews of insurance, property tax, debt service coverage and reserve for replacement requirements.
- Participate in coordinated effort with HR in the recruitment, interview, selection and evaluation process for property management staff.
- Mentor, coach, supervise, develop and direct Regional and property managers in their job responsibilities and the operation, maintenance and leasing activities of the properties to maintain company standards.
- Provide oversight to Regional managers regarding property maintenance and repairs.
- Mentor employees and train them on various best practices through a hands-on training approach and through special focused training seminars lead and designed by you.
- Lead regular staff engagement between PM staff and across agency departments.
- Assure proper training and use of all equipment/supplies.
- Assist Senior leadership and Acquisitions dept. with new project development by preparing needed reports, responding to requests for information in a timely fashion, and managing project transition.
- Prepare annual management plans, as needed, with input from Senior Leadership, Regional Manager, CFO, Integrator, partners and investors.
- Set performance goals by property, related to industry standards; monitors performance, adjust strategies as needed.
- Participate in organizational planning with CEO.
- Work with staff to ensure maximum use of property management and other software.
- Develop annual property management work program and long-range strategic plan.
- Work with owners, managers, site staff and accounting personnel to develop and manage individual site business plans including investment objectives, compliance goals, market positioning, personnel, asset quality, financial goals and objectives.
- Stay abreast of property management and other real estate related industry standards, legislation impacting department and industry practices, policies and procedures.
- Affordable housing property management experience. 3+ years of experience preferred.
- Supervisory experience required.
- Bachelor's Degree in business, real estate development or related field a plus.
- Experience in generating property budgets and supervision of management staff.
- History of managing staff, strong supervisory skills, and the ability to develop the skills of staff.
- Prior experience with Yardi and Rent Manager highly preferred.
- Effective leadership skills.
- Ability to communicate and work with all levels of the company’s employees & partners.
- Ability to recognize and communicate problems appropriately.
- Ability to motivate people to superior performance, while working through complex people issues in an organization with multiple relationships.
- Ability to maintain accurate records and provide information as requested and required.
- Ability to communicate proficiently in English, verbally and in writing.
- Must provide proof of valid driver’s license and vehicle liability insurance.
- Position experiences interruptions, need for frequent shifting priorities, and deadlines.
- Requires site visits and use of own vehicle.
- Requires some evening meetings.
- Regular attendance is required in accordance with a regular schedule established for the positions by the supervisor.
Location: Northern, NJ