Regional Manager - Kentucky And Surrounding Areas

Description

Principal Objectives of the Regional Manager

Principal Objective of Position: The Regional Manager (RM) is responsible for overseeing multifamily housing properties - both affordable and market-rate. The RM will ensure that each property meets or exceeds its financial performance targets, regulatory requirements and ownership objectives. Financial performance, regulatory requirements 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 is reinforced.

The Regional Manager will also be charged with the responsibility of assisting with building the multifamily housing portfolio through business development by identifying third party fee business from owners of multifamily housing in the geographic area for which the RM is responsible.

Requirements

Requirements for the Regional Manager

Training/Education/Other

• College degree or commensurate experience

• Valid driver's license and reliable private transportation

• CPM designation preferred

• Real estate broker license preferred

Experience/Skills

• Minimum of 5 years' experience in multi-site management of at least 3,000 multifamily housing units and/or 8 to 16 multifamily projects with demonstrated ability to deliver financial results.

• Experience in budgeting, revenue enhancement and expense control.

• Strong track record of successful personnel management.

• Experience with identifying third-party fee business.

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

• Knowledge of the regulatory requirements for managing HUD-assisted, LIHTC and RD assets.

• Experience with Yardi property management software preferred.

Special Requirements

• Excellent oral and written communication skills

• Excellent organizational and time management skills

• Strong interpersonal and consensus-building skills

• Excellent training skills

• Proven analytical skills

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

• Ability to travel overnight a minimum of 10 nights per month either by ground or by air.

• Ability to conduct property inspections as outlined.

Essential Functions

Property Performance

• Oversees the annual preparation of property budgets for review by deadlines established by owners or as outlined in management agreements.

• Oversees the preparation of monthly owner reports, including variance analysis and operations narrative.

• Ensures that property budgets are monitored closely to meet or exceed budgeted NOI.

• Monitors expenses prudently to achieve an optimum Operating Expense Ratio.

• Reviews property financial performance monthly with on-site Area Managers and Property Managers and addresses variances.

• Oversees the preparation of documentation for monthly financial reviews with ownership.

• Develops a mechanism for re-forecasting each property's financial performance on a monthly basis.

• Monitors rent collection efforts, including accounts receivable, bad debt, evictions, and the timely approval of write-offs.

• Monitors purchasing and expense control through the periodic approval of invoices and review of property general ledgers.

• Ensures that special purchasing arrangements established for the properties are followed.

• Oversees and monitors the bid process for all contract work and looks for efficiencies and economies of scale.

• Works collaboratively with other Regional Managers to compare "best practices" and revenues/expenses per unit on other properties.

• Manages the process of passing through appropriate fees and utility payments to maximize NOI.

• Oversees all aspects of regulatory compliance, when applicable.

New Development and/or Property Acquisitions

• Works collaboratively with the development or acquisition teams to provide market intelligence, operational data and preliminary budgets on new projects.

• Provides input into pro-forma budgets and assists with due diligence efforts as requested by the team.

• Participates in all development, construction and/or transition meetings to ensure the success of all future projects.

Asset Preservation

• Manages approved capital improvement projects by coordinating scope of work, establishing detailed specifications, soliciting bids and contracting for work to be done.

• Ensures that regular, periodic site inspections are being performed by Area Managers and on-site personnel, reviews results and establishes a plan to address issues.

• Completes quarterly comprehensive inspections of each site, including preventive maintenance, safety, and regulatory compliance issues.

• Identifies enhancement initiatives to increase the value of each property, where applicable.

• Monitors potential liability issues and ensures that risk management exposure is minimized.

• Ensures that moisture management plans are followed on each property.

Marketing/Leasing

• Oversees the development, implementation and revision of individual property marketing plans to maximize occupancy.

• Ensures that market information and market surveys (rental comparison grids) are updated at least monthly and that this information is available on the Egnyte.

• Maximizes property revenues by evaluating occupancy levels and making appropriate rent and/or concession adjustments, when applicable.

• Has a complete understanding of each of the markets in which properties are located and monitors those markets regularly.

• Develops and implements a system for tracking the effectiveness of all traffic generation initiatives.

• Develops and implements a system for monitoring resident satisfaction and for increasing resident retention.

Personnel Management

• Visits each property no less than one time each month or more frequently as indicated by property performance.

• Recruits, hires, trains, coaches, develops and disciplines on-site Property Managers and Area Managers and assists with staffing issues for other site positions.

• Administers the compensation program at each property in adherence with the approved budget and the established compensation plan.

• Completes performance appraisals for Area Managers semi-annually and ensures that all site employees are reviewed two times each year.

• Establishes periodic performance goals and objectives for each Area Manager and Property Manager and monitors their attainment.

• Monitors the established incentive compensation programs for all site positions (where applicable) and ensures the incentive payments are processed correctly and on time.

• Conducts periodic staff meetings with Area Managers, Property Managers and Maintenance Supervisors to address property performance, policy issues, regulatory compliance and other business.

• Identifies "bench strength" in the field and communicates that information to peers and the Vice President of Property Services.

Regulatory Compliance

• Understands and stays up to date on all requirements of the specific affordable housing programs in place on assets within the portfolio.

• Collaborates proactively with the Compliance Department to ensure that all documentation is accurate and complete and that any required corrective measures are implemented expeditiously.

• Responds to regulatory agencies with requests for information in a timely and professional manner.

• Ensures that all assets successfully pass all regulatory physical inspections and operational reviews.

Client Service

• Compiles information for clients and owner reports accurately and on time.

• 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 Vice President of Property Services.

Other Expectations

Dress Code: Professional

Contacts/Liaisons: The Regional Manager will communicate regularly with all necessary HGPS employees, lenders, property owners, financial partners, fee clients, regulatory agency personnel, vendors and other individuals as deemed necessary to fulfill the responsibilities of the position.