Area Manager

Description

The Area Manager (AM) is responsible for overseeing multifamily housing properties – both affordable and market-rate in the geographic area for which the AM is responsible. The AM possesses a passion for customer service that inspires associates and vendors to deliver the highest quality product, comprehensive services, respect, and hospitality that customers expect. Additionally, the AM focuses on the management of any communication between properties in the region. The AM works closely with both the Property Managers and the Regional Directors.

• 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 are reinforced.

Requirements

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 8 to 10 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 for the Area Manager

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 Community 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 Community 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.

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 and on-site personnel, reviews the results and establishes a plan to address issues.
• Completes weekly 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.
• Review and oversee the implementation of the property marketing plans.
• 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 week or more frequently as indicated by property performance.
• Recruits, hires, trains, coaches, develops and disciplines on-site Community 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 Community Managers semi-annually and ensures that all site employees are reviewed two times each year.

• Establishes periodic performance goals and objectives for each Community 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 Community 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 appropriate Regional Manager.

Essential Functions for the Area Manager

Client Service

• Ensure the delivery of excellent client service
• Compile information for clients and owner reports accurately and on time
• Respond in a timely fashion to questions, correspondence, e-mails and phone requests from clients, lenders, investors, contractors, vendors, and regulatory agency personnel
• Anticipate resident needs and promptly respond to them
• Treat all customers, visitors, vendors, and associates with respect
• Ensure best-in-the-industry response times to unit issues, repairs, and resident needs
• Work through resident disputes in a fact based and solution driven way

Marketing/Sales/Leasing

• If applicable, develop, implement, and monitor marketing plan for the lease-up of the property that maximizes lease up pace, net revenue of the property and client requirements
• If the property has a regulated housing program, ensure that all eligibility requirements are met for applicants and residents.
• Generate a sustaining flow of qualified prospective residents
• Regularly conduct marketing surveys to be aware of competitors’ activities in the surrounding marketplace and make recommendations based on survey analysis
• Show and lease apartments
• Achieve and maintain designated occupancy goals / objectives
• Create and monitor occupancy and associated reports in order to monitor traffic and closing performance
• Participate in community affairs and maintain positive public image for the property

Customer Retention

• Develop, implement, and monitor marketing strategy to maximize resident retention
• Develop and implement positive resident relations program for the community
• Respond to resident needs and input
• Resolve any conflicts between residents and address issues promptly

Staffing Responsibilities

• Assist Human Resources with employee issues following company policies
• Hold staff accountable to the highest standard of customer service and to meet their job requirements
• Interview, hire, train, recommend performance evaluations, resolve problems, provide open communication and recommend discipline and/or termination when appropriate
• Develop and delegate improvement plans for operations and review performance of management team
• Recruit, train and develop qualified talent to achieve property goals
• Create and sustain a positive work environment at the community and accomplish the objectives of the client
• Inspect the property on a regular basis and schedule improvements and repairs

Financial Responsibilities

• Prepare and manage the operating budget in order to control expenses and meet financial objectives
• Supervise the collection of rents and all monies on site and ensure prompt deposit and accurate record keeping of these funds.

Other Expectations

Dress Code: Professional

Contacts/Liaisons: The Area Manager will communicate regularly with all necessary company 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.

Job Type: Full-time

Pay: From $45,000.00 per year

Benefits:

• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Schedule:

• 8 hour shift
• Monday to Friday

Ability to Relocate:

• Minneapolis, MN: Relocate before starting work (Required)

Work Location: In person