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VP, Property & Asset Management

Company: Abode Communities
Location: Los Angeles
Posted on: April 10, 2021

Job Description:

  • 1149 S Hill St, Los Angeles, CA 90015, USA
  • Full-time Company Description Abode Communities is a regional non-profit architectural, real estate development and property management firm.--Abode Communities Property Management manages 40 multifamily residential communities with over 2700 units serving some 7,000 low-income people throughout California. The organization, with a 98% portfolio-wide occupancy rate, offers a full range of professional services to ensure our residential portfolios, and housing portfolios of similar community development organizations, remain physically solvent and in compliance with regulatory requirements. Property management staff members go above and beyond to ensure each property managed becomes a pillar within its community. This is accomplished through the creation of vibrant, connected spaces that support each resident's emotional, physical and financial ability to thrive. Our mission is to open new doors in people's lives through creative and responsible design, development and operation of service-enhanced affordable housing. Job Description Under the direction of the Executive Vice President and Chief Operating Officer, the Vice President, Property & Asset Management is an officer of the organization and oversees the property management and asset management functions which consist of approximately 100 employees. Direct reports to the Vice President, Property & Asset Management include: Director of Compliance, Director of Facilities, Assistant Director of Asset Management and three to four Property Supervisors. Responsibilities include overseeing the operations and management of the portfolio ensuring the properties' physical and financial well-being, making sure the properties are in compliance with their legal and regulatory requirements. Responsibilities also include overseeing the operations and management of the portfolio and ensuring that the properties are properly managed and maintained consistent with the financial, physical and social goals, standards and requirements of Abode Communities, third-party clients and regulatory agencies and funders. Specific Duties and Responsibilities
    • Oversee the operations and management of the organization's residential portfolio ensuring that the properties' performance meet or exceed financial expectations, are physically well maintained at or above company standards, and comply with all regulatory requirements.
    • Manage and direct the Property Management and Asset Management staff which includes hiring, supervising, coaching, and professional development.
    • Oversee the initial marketing and lease-up and transition to operation for new properties ensuring that all units are leased in compliance with the owner's and all regulatory requirements.
    • Ensure that policies and procedures are in place and followed that promote and maintain positive relations with residents and community representatives.
    • Oversee the preparation of the annual operating and capital improvement budgets and long-term management plans for all properties and ensure timely completion and submission financial reports to regulatory agencies, partners and investors.
    • Maintain capital improvement plans and provide solutions to capital improvement needs through management of reserves, and securing soft funding through public sources, restructuring of existing debt, or seeking refinance opportunities.
    • Develop and maintain portfolio-wide scan to identify and evaluate financial and physical needs of properties within Abode Communities' existing portfolio. Problem solve property and portfolio level issues through research, analysis, and implementation
    • Oversee and manage tax credit investor buyout activities for all existing projects in the portfolio that are at the completion of the initial 15-year compliance period.
    • Conduct physical, financial and operational due diligence of specific properties at or beyond 10 years of the initial occupancy and compliance period.
    • Ensure that all properties are managed, leased and operated in compliance with all regulatory requirements; and ensure accurate, thorough and timely reporting to and promote and maintain positive relations with the California Tax Credit Allocation Committee (TCAC), the U.S. Department of Housing and Urban Development (HUD), Internal Revenue Service, and other funders, regulators, investors and partners.
    • Work in collaboration with the Real Estate and Architecture Divisions to ensure that issues affecting property management are integrated into the design, development and underwriting of new development projects; and prepare management agreements, management plans, initial operating budgets, lease-up and marketing plans for all new projects.
    • Work with the Real Estate Division to support the acquisition, new development and/or repositioning of properties.
    • Establish and maintain effective business relationships with all financial partners including lenders and tax credit investors.
    • Develop and meet annual Division Budget for revenues and expenses.
    • Review, analyze, interpret and summarize financial, occupancy, and other property operating reports and advise the Executive Vice President and Chief Operating Officer.
    • Carry out other duties as required to advance Abode Communities' mission in the provision and management of affordable rental housing. Qualifications --- Bachelor's Degree (preferred) and 15 years of progressive property and asset management experience including LIHTC and HUD, including minimum of seven years' experience in a management or supervisory position, preferably with a focus on affordable housing. --- National compliance certification and State of California Department of Real Estate Brokers License.-- --- Strong leadership, management, and supervisory skills; demonstrated ability to effectively manage a diverse employee base; experienced in effectively leading, managing, and developing professional staff, with a track record of successfully recruiting and retaining staff. --- Demonstrated ability to operate and manage a complex and dynamic property management and asset management firm, including understanding and implementing best practices in the field of property and asset management.-- --- Demonstrate a high level of analytical ability, financial acumen, strategic visioning and customer service.-- --- Thorough knowledge and understanding of federal, state, and local law as it applies to tenant and landlord relations. --- Strong technical knowledge of various federal, state, and local affordable housing programs and regulatory requirements. --- Ability to read and understand legal, loan and regulatory agreement documents. --- Ability to prepare and analyze property operating budgets, budget variance reports, occupancy reports, income and expense statements and financial statements. --- An entrepreneurial and creative approach to problem-solving in the field of property management; enthusiasm and team building spirit. --- Able to work effectively and collegially across multiple disciplines within an organization. --- Demonstrated track record of promoting and facilitating strong communication internally with the team and externally with colleagues; possesses good client, resident relations, and public presentation skills. --- Possesses excellent written and oral communication skills; demonstrated track record of working effectively with community groups including clients with diverse economic and educational backgrounds. --- Proficient with standard computer programs such as Microsoft Word, Excel, and Outlook and comparable property management software such as MRI and Boston Post. --- Access to reliable transportation. Additional Information The salary is commensurate with experience. Benefits include medical, dental and vision insurance, life, AD&D and long-term disability insurance, voluntary retirement plan with employer match, vacation and sick leave, and a 9/80 flexible schedule with alternating Fridays off. Abode Communities is an equal employment opportunity employer. We--welcome candidates of diverse backgrounds and experiences, and actively seek to promote diversity and inclusion within our hiring practice and throughout our workforce.
      • 1149 S Hill St, Los Angeles, CA 90015, USA

Keywords: Abode Communities, Los Angeles , VP, Property & Asset Management, Executive , Los Angeles, California

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