Property Stabilization Manager

JOB TITLE: Property Stabilization Manager

SCOPE & PURPOSE

Under the direct supervision of the Regional Director and Vice President, the Property Stabilization Manager is responsible for leading and stabilizing operations at distressed communities within the company portfolio. This role is focused on improving qualified occupancy, increasing rental collection performance, and enhancing overall operational efficiency. The Property Stabilization Manager ensures the effective implementation of strategies to optimize net operating income (NOI), preserve assets, develop staff, enforce policy, and improve resident satisfaction.

DUTIES & RESPONSIBILITIES

OCCUPANCY STABILIZATION STRATEGIES

• Develops and implements aggressive occupancy improvement plans, including strategic outreach, marketing optimization, and leasing workflow enhancements.
• Regularly analyzes leasing data to identify bottlenecks, lead-to-lease conversion rates, and opportunities for improvement.
• Supervises all leasing efforts, certifications, re-certifications, and move-out processes with a focus on reducing unit vacancy time.
• Enforces immediate action on units vacant over target timelines, and monitors turn-key readiness.
• Implements community-specific retention plans, incentive programs, and resident engagement strategies to reduce turnover.
• Tracks and ensures compliance with all Fair Housing and Affirmative Marketing Plan (AFHMP) requirements.
• Pre-audits new move-in files to ensure file quality and compliance.
• Maintains up-to-date knowledge of all affordable housing programs applicable to the community (e.g., LIHTC, Section 8).

RENT COLLECTION & FINANCIAL ACCOUNTABILITY

• Leads efforts to improve rental collection rates, achieve and maintain delinquency targets, and recover aged balances through structured collection procedures.
• Implements consistent rent collection policies including daily delinquency reporting, notice delivery, and coordinated payment plan tracking.
• Works with support staff to improve communication with residents regarding rent responsibilities, grace periods, and legal consequences of non-payment.
• Reviews Boston Post data to ensure alignment between rent collection records and bank deposits.
• Oversees AR/AP processes, move-out reconciliations, and security deposit handling.
• Collaborates with Regional Director to prepare and maintain operating budgets and explain monthly variances.
• Tracks key performance indicators (KPIs) related to rent collection, delinquency, eviction filings, and payment recovery.

REGULATORY COMPLIANCE & FILE MANAGEMENT

• Conducts regular in-house audits and ensures ongoing file readiness for investors or regulatory reviews.
• Ensures timely, accurate submission of affordable housing reports (monthly, quarterly, and annual).
• Verifies accurate rent/income limits and proper set-aside tracking.
• Attends court hearings and processes legal documentation for eviction when necessary.
• Supervises annual file purging, ensuring data integrity and compliance with records retention policies.

MAINTENANCE & ASSET PRESERVATION

• Supports staff in overseeing maintenance operations and ensuring adherence to service level standards.
• Assists in bidding and approving contract work, ensuring vendor compliance and timely execution.
• Promotes cost control measures in maintenance purchasing and inventory systems.
• Ensures compliance with preventive maintenance schedules and capital project planning.
• Monitors curb appeal and common area conditions as part of ongoing occupancy improvement efforts.

LEADERSHIP & OPERATIONS

• Reports directly to the Regional Director and provides daily updates on performance metrics, occupancy status, and financial outcomes.
• Oversees the performance of support staff across assigned sites, ensuring alignment with stabilization goals.
• Creates a positive, supportive environment that fosters team engagement and resident satisfaction.
• Conducts regular operational assessments and proposes corrective actions to address underperformance.
• Attends owner meetings; prepares and presents actionable data-driven reports.
• Enforces office standards, signage, and postings in compliance with employment and housing regulations.
• Performs and reviews annual performance evaluations for property-level staff.
• Provides direction, coaching, and ongoing support to community teams, including performance improvement plans when necessary.
• Leads preliminary interviews and staffing recommendations in partnership with the Regional Director.

ADDITIONAL RESPONSIBILITIES

• Enforces mandatory and supplemental staff training to strengthen site performance, compliance knowledge, and customer service.
• Maintains mastery of Boston Post software and trains others in best practices and workflow systems.
• Prepares Reserve for Replacement (RFR) documentation as required.
• Performs physical inspections, including:
• • Semi-annual unit inspections
  • Quarterly common area/grounds reviews
• Other duties as assigned by leadership.

QUALIFICATIONS

• High school diploma or GED required (Bachelor’s degree preferred).
• Minimum 7 years’ experience in multi-site residential property management (250 units).
• Minimum 5 years working with LIHTC/Section 8 programs.
• Proven record of driving occupancy growth and rental collection improvement.
• Strong leadership, communication, and problem-solving skills.
• Proficiency in Boston Post or similar property management software.
• Ability to analyze data and create actionable plans for underperforming assets.

Physical Requirements

• Office-based and field duties include walking, climbing stairs, and touring units.
• Extended periods of computer use, standing, and sitting.
• Ability to travel independently within the DMV area occasionally for required training and meetings.
• Ability to read and interpret documents, policies, and correspondence.
• Strong verbal and written communication skills to explain policies and resolve issues.
• Ability to report to your work location each day. No telework is permitted for this role.

Equal Opportunity/Affirmative Action Statement

It is the policy of Residential One that no person within the jurisdiction thereof shall, on the basis of race, religion, color, sex, age, disability, sexual orientation, gender identity or expression, veteran status, or national origin, be excluded from participation in, be denied the benefits of, or be subjected to discrimination or harassment (including all forms of sexual harassment and sexual violence).