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Senior Vice President, Property Management
3 months ago
Description: Position Overview: The Senior Vice President of Property Management will serve as a critical and visible leader, overseeing all multifamily assets within the Dweck portfolio. In this role, they will provide high-level supervision of day-to-day operations, including leasing strategies, pricing and revenue management, personnel policies, physical asset maintenance, capital expenditures, operating budgets, contract negotiations, resident concerns, risk management, and legal matters. Together with their team and key leaders, they will drive the execution of our business strategy and ensure alignment with our organizational culture. The ideal candidate will quickly inspire confidence and trust through their deep industry expertise, leadership characterized by compassion and directness, and a history of proven performance. They must foster strong, collaborative relationships with the management team based on earned trust and mutual accountability. As an industry veteran, the Senior Vice President will actively engage in the multifamily real estate sector, staying updated on trends and best practices. Effective and frequent communication across all stakeholders, independently and in collaboration with the COO and CEO, will be a pivotal aspect of this role. Key Responsibilities: Through immersion, due diligence, and collaboration, quickly gain an understanding of the organization’s culture, mission, vision, as well as operational strengths and weaknesses. Strive to quickly build substantive, meaningful relationships with direct reports and leadership by investing time to gain their perspectives and value their areas of expertise. Seek institutional context, both quantitative and qualitative, to gain an understanding of the current evolution of the company. Responsibilities include, but are not limited to: 1. Property Operations:Oversee day-to-day property operations and strategy for key areas or responsibility, including maintenance, leasing, pricing, resident and retail tenant relations, as well as vendor management.Ensure properties are well-maintained, safe, and compliant with regulatory standards and company policies.In collaboration with the leadership team, develop, implement or improve plans for operational infrastructure of systems, processes, policies and personnel designed to support and achieve the company’s objectives and ensure compliance with all company policies and Fair Housing and jurisdictional laws and regulations.Advise the Chief Executive Officer (CEO) & Chief Operating Officer (COO) on operational, systems and financial hurdles/barriers, and opportunities to maximize each potential investment. 2. Resident Relations and Customer Experience:Monitor variances and trends in resident retention and determine root causes. Lead the Regional Manager team to develop and implement resident relations strategies to enhance resident satisfaction and retention.Set expectations and oversee Regional Managers’ responses to resident inquiries, complaints, and maintenance requests in a timely and professional manner.Manage all escalated resident or retail tenant concerns or issues, including all emergency responses. Collaborate with Marketing, Chief Operating Officer (COO) and Chief Executive Officer (CEO) on needs for company-wide responses or communications. Champion and demonstrate Dweck Academy customer experience standards. Reinforce and evangelize Dweck’s elevated standards of performance in customer care. 3. Leasing and Occupancy Management:Working closely with the VP, Operational Analytics, gain a thorough understanding of Dweck’s revenue and pricing methodology and property level processes which translate to financial outcomes. Maximize the use of data to make fact-based decisions and utilize the in-house expertise of the VP, OA to develop further analytics to determine opportunities for increased revenue. Collaborate weekly with Marketing relative to property marketing strategies to increase visibility, traffic and increase leasing opportunities. Maintain a current and keen awareness of the portfolio competitive market and market trends which affect pricing and strategy.Monitor overall portfolio bad debt, delinquencies, and collections efforts to ensure financial performance goals are met. 4. Resident Retention and Marketing:Collaborate with the Marketing team for leasing and marketing strategies, campaigns, and initiatives. Contribute insights, market trends and revenue objectives. Consistently review our resident retention programs, referral incentives, and customer satisfaction surveys to improve resident loyalty and reduce turnover.Monitor marketing campaigns, advertising, and outreach efforts to assess effectiveness and recommend further guidance.Represent the company at various community events and activities; meet and network regularly with business leaders in the community. Evangelize the brand and develop a personal brand to include our value proposition and philosophies. 5. Maintenance, Facilities Management & CapEx:Oversee Director of Portfolio Engineering and Maintenance and ensure the development of property maintenance strategies and programs, preventive maintenance schedules and necessary capex or infrastructure improvements.Work closely with Construction Management on the planning of capital expenditures including retrofit and re-leasing strategies and budgets, oversight of conditions warranting capital investment and pricing considerations. Contribute to budgeting and financial strategies for CapEx projects. Investigate and propose sustainability initiatives, energy efficiency measures, and any environmental requirements from lenders or jurisdictions. Work with outside sustainability consultants and vendors for energy management programs of impact. 6. Financial Management and Budgeting: Oversee the portfolio operating budgeting process, and approve final site budgets. Lead quarterly budget review meetings to understand and discuss variances. Oversee and lead annual Budget Bootcamp process.Provide financial data to management and track operational objectives to ensure results are on track and in keeping with the company’s goals and objectives. Provide monthly accountability of portfolio progress through various operational and financial reporting mechanisms. Develop key performance indicators (“KPIs”) for the portfolio and overall property management business. Review and approve invoices, purchase orders, and vendor contracts related to overall portfolio management. Gain knowledge of property loan considerations and covenants; attend lender calls and tours as needed. 7. Due Diligence and Transactional Activities:Along with senior leadership, participate in due diligence processes and strategies related to potential acquisitions/dispositions of assets and the onboarding/offboarding of assets, operationally and technologically. Serve as primary point of contact in all transactions relative to operational issues. Lead successful integration of new assets, technology and operating systems, and team members into the portfolio, ensuring operational, financial and cultural immersion and continuity. 8. Risk Management and Compliance: Constantly anticipate and assess potential issues which may have an impact on the business and provide both strategic and tactical counsel and expertise to the Chief Operating Officer (COO) and Chief Executive Officer (CEO). Oversee risk management and create mitigation strategies for all areas of liability. Ensure direct reports have exposure to and some management of insurance claims and all liability associated with managing the portfolio. Ensure appropriate representation of the Company in all landlord/tenant issues and any legal affairs relating to property management claims or concerns. Ensure resolution of all escalated resident matters. Work with outside counsel for RFIs and resolution strategies as needed. Include direct reports in legal processes as an opportunity for expanded knowledge and responsibility. Ensure compliance with lease agreements, rental laws, and any fair housing regulations.Ensure property inspections, audits, and risk assessments are completed, and analyze for recommended improvement or outcomes to maintain property standards.Manage portfolio insurance coverage and annual renewal process. Serve as point of contact for property level insurance claims. Oversee the successful and compliant operations of Dweck’s Captive Insurance program throughout the portfolio. 9. Culture, Team Leadership and Development: Work closely with all leadership to continually evolve culture in positive and meaningful ways. Consistently lead by example, a culture of transparency with a strong and collaborative service mindset featuring teamwork, ingenuity, empathy, responsiveness, accountability and empowerment across the organization.Demonstrate daily the Dweck Team Member Commitments and reiterate their importance to a successful and meaningful team member experience.Promote and foster the culture of team member recognition. Actively seek opportunities to positively reinforce team member choices and performance through public and private recognition. Champion and participate in companywide DEI initiatives and show up as a vocal proponent of equality and equity in the workplace. Foster a collaborative and high-performing team culture through coaching, performance feedback, and professional development. Conduct regular performance evaluations, goal setting, and career development planning for direct reports.Together with the Chief People Officer (CPO) develop and implement performance standards of excellence and contribute to the design and implementation of fair and transparent personnel policies. Work closely with CPO on annual and mid-year performance assessment processes. Consistently execute performance assessments at scheduled milestones, leading by example and driving portfolio wide compliance of deadlines. Identify high performing and high potential team members, as well as underperforming employees, and together develop strategies to manage talent to the benefit of the organization. Work closely with CPO to develop and implement compensation programs and practices which align with performance, reward outstanding outcomes, and create strong retention of top performers. Partner with Learning & Development to ensure team member development programs align with overall business and operational strategy. Work closely with Talent Acquisition to ensure an outstanding candidate experience, but also to align hiring goals with the business strategy. 10. Technology and Innovation:Stay abreast of new property management software, digital tools, and technology solutions. Consider and recommend products to streamline operations and enhance efficiency.In conjunction with the accounting team, develop and utilize data analytics, reporting systems, and key performance indicators (KPIs) to track property performance and make data-driven decisions.Stay updated on industry trends, best practices, and emerging technologies in property management. 11. Legal and Contract Management: Manage lease agreements, vendor contracts, service agreements, and insurance policies.Coordinate legal matters, eviction proceedings, lease enforcement, and tenant disputes in compliance with legal requirements.Work with legal counsel, risk management, and insurance providers to address legal and insurance issues. 12. Retail Lease Management: Ensure Property Managers (PMs) with retail leases are trained and able to manage retail tenants. Property Managers should engage with retail tenants, have awareness of the lease terms, obligations and requirements for both parties and respond to issues based on their awareness of Dweck’s responsibility.Respond to and manage escalated retail concerns or questions. Ensure high retention of retail clients.Requirements: Key Requirements: Fifteen (15) + years of progressively responsible experience in multifamily residential industry in a competitive, metropolitan area (DC market highly preferred). Stellar reputation in the industry with outstanding past performance and references. Active participant in industry events and abreast of best practices and trends in the industry. Five (5) plus years as the top line executive, successfully managing >5,000 units of multifamily assets in a competitive, metropolitan market. Proven, inspirational leadership with strong personal brand. Experience with both third (3rd) party and owner managed assets is highly preferred.Experience with asset acquisition/disposition due diligence processes is required. Knowledge of lender considerations and underwriting criteria is necessary. Bachelor of Science degree. Advanced degree preferred. Certified Property Management credential is strongly desired.Fully knowledgeable and experienced with current information technology strategies, tools, and software applications to maximize efficiency of all aspects of the company. Yardi experience required. Solid business acumen and judgement. Strong financial skills and orientation including capital markets exposure, financial management concepts, profit orientation and margin and cash flow optimization.Experience successfully resolving site employee issues with a strong understanding of underlying laws.Extensive knowledge of fair housing laws and landlord tenant issues (DC market highly preferred).Creativity and resourcefulness, a critical thinker with the proven ability to lead an organization through growth and change. Outstanding communication skills, both written and verbal. Active listening and diplomacy skills, inspiring a culture of open-exchange and collaboration. Strong ability to effectively interact with and influence all levels of staff.Demonstrated strong “hands-on” leadership and a proven developer of talent. Must possess a compelling desire to develop key team members and a keen interest in developing and maintaining a culture of constant exploration and discovery.Must be a collaborator with high “EQ”; team player who engenders a sense of fairness and respect in dealing with employees at all levels; open and honest with peers and superiors – no surprises – no politics and a willingness to compromise.Must possess strong personal values and commitment to integrity and honesty.Must have excellent time management and organizational skills.Must possess initiative with a natural energy, motivation, and endurance to work in an entrepreneurial, evolving, fast-paced environment. About Dweck Dweck owns and manages approximately 7,000 multifamily residences in the Washington DC area and is one of the largest apartment owner/manager in Amazon’s new neighborhood in National Landing. Even more important than our array of quality properties in great neighborhoods, Dweck believes its greatest assets lie in the talent, commitment, and creativity of its team. Through a culture grounded in transparency, excellence, im
