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Senior Vice President of Property Operations

2 months ago

Memphis, Tennessee, United States 2020 Foresight Executive Talent Solutions Full time

Company Overview

With over five decades of experience, the Company is a leader in the ownership and management of well-maintained, sustainable affordable housing. The portfolio encompasses around 6,000 units across various markets in the Southeast, showcasing the Company’s commitment to providing quality living environments. Renowned for its expertise in property redevelopment, the Company aims to deliver affordable homes to its residents and has been consistently recognized as one of the Best Workplaces in the Multifamily sector.

Position Summary

The Senior Vice President of Property Operations will report directly to the Chief Operating Officer and will oversee the Property Management Division. This role is pivotal in establishing and achieving the goals of the Property Management Department. The SVP will directly supervise the Company’s Regional Property Managers and indirectly oversee the entire Property Management team, including on-site staff. As a key member of the Leadership Team, the SVP will collaborate to shape company policies and objectives while striving for operational and financial excellence. Additionally, the SVP will participate in the Investment Committee, which plays a crucial role in guiding the Company’s acquisition and redevelopment strategies. The ideal candidate will possess a robust background in multifamily property management, particularly within the affordable housing sector, and demonstrate strong leadership capabilities.

Key Responsibilities

  • Lead, mentor, and develop a team of Regional Property Managers to ensure exceptional service delivery and foster a culture of teamwork and collaboration.
  • Establish policies and procedures for managing affordable apartment communities to enhance financial and operational performance.
  • Oversee the annual operating and capital improvement budgeting process, securing ownership approval and ensuring portfolio performance meets expectations.
  • Ensure efficient and cost-effective community operations to achieve or surpass budgeted net operating income.
  • Guarantee compliance with tax credit, Section 8, and other relevant program, lender, and partner regulations.
  • Collaborate with internal and external Compliance teams to uphold Compliance standards.
  • Ensure communities are maintained according to Company and regulatory standards.
  • Regularly assess and recommend enhancements to maintenance programs.
  • Identify opportunities for process improvements and implement innovative operational strategies.
  • Develop and update Best Practices through the creation of guidelines, playbooks, and training materials.
  • Work closely with the Acquisitions and Development Department on re-syndication, renovations, refinancing, and new acquisition proposals.
  • Coordinate with internal teams during the operational setup of new communities and initiate cross-functional kickoff meetings as necessary.
  • Actively participate in the Leadership Team to establish company goals and policies, promoting transparent communication across all organizational levels.
  • Engage in the Investment Committee to guide the Company’s acquisition and investment strategies.
  • Maintain ethical, professional, and courteous relationships both internally and externally.
  • Represent the Company in professional and industry organizations.
  • Stay informed on industry trends and best practices.
  • Lead special projects, including technology upgrade initiatives.
  • Perform other duties as assigned.

Qualifications

  • Bachelor’s degree in business administration, accounting, real estate, or a related field from an accredited institution; a graduate degree or MBA is advantageous. A Real Estate Broker’s License is a plus.
  • 10+ years of experience in multi-site multifamily property management or operations.
  • Strong knowledge and experience in affordable housing programs (e.g., Section 8, LIHTC) are highly preferred.
  • Ability to analyze and utilize financial data and property operations reports to make informed decisions and solve issues.
  • Proficient in researching and understanding regulatory and compliance requirements to direct property operations effectively.
  • Experience in providing construction recommendations for rehabilitation and capital improvement projects.
  • Demonstrated leadership abilities and commitment to fostering a collaborative team environment aligned with company core values.
  • Extensive experience with operating budgets, capital budgets, and P&L responsibilities.
  • Willingness to travel overnight as needed.
  • Availability to be on-call after hours for emergency situations.
  • Proficient in Microsoft Office (Outlook, Word, and Excel) and knowledgeable in property management and financial software (e.g., Yardi, Voyager 7S, RentCafe).
  • Must meet underwriting standards for fidelity bond insurance.
  • Must not be listed on the Denied Participation list issued by the U.S. Department of Housing & Urban Development or similar agencies.