Our client is seeking an experienced Director of Property Management to oversee a portfolio consisting of approximately 6,500 NYC rent-regulated residential apartment units, a small portfolio of retail and mixed-use properties and a few Manhattan co-op and condo units. All the properties are located within the New York City five boroughs and a few in the surrounding counties. The Director of Property Management will report directly to Managing Members and the CFO of the business and s/he will be responsible for leading a team of seven (7) on site Property Managers and the team s in-office support staff. The Director will also work closely with other Department Directors, such as Accounts Payable, Accounts Receivable, Leasing, and Legal, since these departments intersect with the Property Management Department. For this role, we are looking to identify a leader who will effectively manage the team and the Property Management responsibilities as outlined below, while also working closely with the principals to help transition the operations of the Property Management Department by making recommendations and introducing improvements to help them automate manual processes and create greater efficiency. Key Responsibilities Daily
- Manage the day-to-day physical plants for all property within the portfolio. Lead and advise individual Property Managers and communicate directly with building superintendents and contractors as needed.
- Initiate purchase orders for items that exceed the signature authority of the Property Managers.
- Ensure that all buildings are operating in a code-compliant manner, especially as it relates to permits, signage, registration, violations, etc.
- Implement all needed property level protocols and procedures by working with all property managers until procedures and protocols are fully implemented.
- Oversee, track, and report status of repairs from bank and insurers.
- Oversee larger capital projects and report to Managing Members.
- Secure and Analyze bids and implement all capital projects with a cost in excess of $25,000.
- Meet with staff of Property Management Department.
- Gather company-wide information from all property managers as needed.
- Manage the team "special projects" with an emphasis on bringing the senior management group apprised of new technology. (e.g. current projects include: LED lighting installation and installing internet-ready camera systems.)
- Direct and review the production of monthly reports on fuel and water usage while working to take these reviews in-house in order to eliminate the need for third party consultants.
- Manage and direct renovation and renting of all vacant units while also recommending any needed repairs/upgrades.
- Work closely with third party vendors who currently track water and fuel usage. Work with the information provided by these vendors to help create savings and thereby directing the property managers through specific cost-saving implementation.
- Responsible for quarterly review of all repair and maintenance expenses for all properties in the portfolio.
- Review and advise the CFO on annual budgets for each property and portfolio.
- Develop and update the annual and five-year capital plans for each property and the whole portfolio.
- Ten or more years of experience working for a private owner or other real estate investment or real estate services company focused on residential / apartment Property Management working with New York City apartment buildings.
- NOTE that we may also consider outstanding candidates with extensive Property Management experience working in other asset classes such as office, retail or hospitality.
- Five plus years of management experience managing a property management function or similar team management.
- Experience and the desire to lead the team in the development and implementation of improved streamlined processes, procedures, and reporting to replace some existing manual processes and help create greater operating efficiency. This may include adopting and implementing technology.
- Prior experience with NYC agencies such as New York Rent Stabilization, Rent Control, MCI's and IAI's is preferred
- Prior experience navigating New York City and similar state regulatory agencies, such as DHPD, DOB, DOHMH, DHCR, and DEP is helpful/preferred.
- Financial Analysis
- Property Management
10+ to 15 years