Senior Vice President of Property & Asset Management

We are seeking a Senior Vice President of Property & Asset Management.  This position will be responsible for the overall successful operations of a non-for-profit’s residential housing portfolio located in the Midwest.  The VP oversees the organization’s property management’s portfolio which consist of both owned and third-party properties to ensure the portfolio is run in an efficient, economical, and customer service-driven way. This position is a member of the leadership team and contributes to the development of new concepts and long-range operational and strategic planning.

Responsibilities Include:

Business Management

• Seamlessly collaborates across the organization to develop and execute an integrated approach ensuring that the Company financial and business objectives are achieved.
• Work closely with Vice President of Property Management to drive consistency of operations, identify best practices and leads implementations.
• Consults with Construction partners for property management-related considerations for developed assets as well as assets undergoing renovation.
• Collaborates with VP of Property management to ensure processes and funding are in place to maintain properties in the portfolio according to company standards.

Planning and Strategy 

• Develops the Asset Management Plan for the portfolio and updates it annually to define the strategies and action steps need to achieve desired outcomes and owner goals.
• Assists in the creation and updates of property tenant selection plans.
• Leads the implementation of an affirmative fair housing marketing plan, along with assisting property management staff in developing a marketing plan for each property.
• In conjunction with property management, creates operating and replacement reserve strategies for all properties.
• With Executive Staff reviews/evaluates proformas for new developments and collaborates with development consultant on financial analysis of rehab and other special projects.

Compliance and Reporting 

• Monitors critical timelines (e.g., program compliance deadlines, contract expirations, loan repayment terms, and maturity dates, etc.).
• Ensures that organization maintains compliance with the rules and regulations of applicable funding sources by maintaining a competent understanding of HUD, HOME, LIHTC, and other funding sources and staying abreast of any updates or changes. 
• Ensures timely renewal of key rental and other subsidy contracts for assigned properties.
• Ensures that all regulatory agency, lender, investor, and funder reporting is compiled and submitted within specified timelines for the portfolio and responds to requests for information.
• Monitors key metrics such as occupancy levels, month's expendable net ratio, debt service coverage ratio, lease enforcement actions, waiting list operations, and tenant receivables for all properties owned or managed by the organization.
• Serves as the liaison between the owner and the asset management staff of the LIHTC asset management department.

Resident-Centered Program Delivery

• Designs, implements and evaluates program delivery model in collaboration with VP of Property Management to address resident issues.
  
• Works in partnership with VP of PM on major decisions and assures that portfolio objectives and work plans are implemented as established.

Maintenance 

• Builds effective, positive, respectful working relationships across functions/business areas within Property Management and other functional areas to achieve stated property and portfolio goals.
• Serves as a resource for other departments regarding partnership agreements, loan documents, tax returns, restrictive covenants, and other concerns as necessary.
• Ensures that all eviction procedures are followed exactly as established by service plans and tenant selection plans.
• Ensures contracts are in place at properties for preventative and ongoing maintenance or service of systems.
• Ensures that all properties have financial plans for capital needs and works in partnership with the Property Management firms and maintenance staff to ensure that the physical condition of the rental housing portfolio is preserved and well maintained.
• Coordinates with VP of Property Management, brokers, vendors on annual bidding of contracts, as well as insurance bidding and renewals.
• Conducts and coordinates regular and as needed inspections of properties with staff, investors, lenders, and others as well as prioritizing properties on watch list when needed.
• Performs other duties as assigned
  
  

Risk Management

• Partners with management teams to effectively define and document business process and initiatives to assist in risk assessment and control identification
• Assesses the spectrum of risks and how those risks arise
• Leverages available tools and processes to support site staff in the design and development of effective controls and monitoring methods, with a focus on safety and best practices.
• Handles all real estate insurance claims for properties out of warranty period.
• Serves as the owner's representative on insurance claims within the portfolio. 

Required Qualifications:

• Bachelor's degree with an emphasis in real estate, urban planning, business administration, finance a closely related field.
• Certified Property Manager (CPM) status preferred.
• Consortium for Asset Management and Housing (CHAM) certification a plus.
• At least 10 years of property management experience overseeing a large multi-family affordable housing portfolio at a regional level with strong knowledge of tenant/landlord practices, laws, rules and regulations.
• Previous experience in managing affordable housing Section 8 and Low-Income Housing Tax Credits.
• Five+ years of housing asset management, real estate development, or other equivalent role.
• Real Estate Broker’s license required.
• Experienced in P&L, lease, negotiations, vendor and contracts management.
• Expertise in finance, marketing, revenue maximization, strategic planning, budgeting, forecasting, administration, operations, training, and effective leadership are required.
• Knowledge of market, feasibility analysis and financial structures is a must.
• Excellent interpersonal communication skills, including the ability to inspire, motivate and lead a growing team of professionals.
• Strong reasoning, analytical, critical thinking, and problem-solving skills.
• Must have excellent computer and software skills.
• Strong customer service track record.
• Vehicle, driver’s license and insurance is required.

Compensation:

Organization offers a competitive salary, commensurate with experience, and an excellent benefits package.