Regional Property Manager

Job Description:

The Regional Property Manager is a professional position responsible for monitoring and managing third-party Property Managers. Regional Property Managers are responsible for evaluating assigned multifamily and scattered site properties' physical, fiscal, regulatory, and operational activities. The Regional Property Manager is critical to the Agency's ability to optimize resident satisfaction, budgetary performance, and HOC mission outcomes.

The incumbent must possess a fundamental knowledge and understanding of managing both market rate and affordable housing and a comprehensive knowledge of property management processes, systems, and procedures. This incumbent is responsible for ensuring properties are fiscally sound and viable investments that are physically well-maintained and in compliance with all lender, U.S. Treasury, HUD, and other regulatory requirements, as well as HOC policies and procedures, agreements, programs, and covenants. The Regional Property Manager must also be proficient at identifying underperformance, providing operational data analysis, coordinating with counterparts at third-party property management firms where applicable, and supporting Property Manager performance.

This position is responsible for reviewing monthly property summaries including variance reports on income statements, occupancy and vacancies, accounts receivable, and other important property metrics; preparing and synthesizing property reports, forecasts, and projections for reporting to leadership; and providing property operations analyses to the Director of Property Management and Director of Asset Management. The incumbent in this position must maintain a current awareness of local and regional market conditions that may impact property occupancy and leasing and may recommend positioning assets appropriately in respective submarkets. The Regional Property Manager must be proficient at team building and be proactive in training and supporting Property Managers in regulatory environments for LIHTC, PBRA, MPDU, REAC, and other HUD programs. The position requires a thorough knowledge and understanding of industry practices for operating procedures such as rent collections, evictions, accounting, maintenance, and purchasing.

Example of Duties:

• Responsible for monitoring and managing third-party property management companies and HOC-managed scattered properties by possessing fundamental knowledge and understanding of managing both market rate and affordable housing.
• Review, analyze, and interpret market data to identify emerging trends that may impact the portfolio's performance, and work with the onsite teams to develop and implement market plans that drive occupancy and revenue growth.
• Develop the annual budget(s) for the properties in the assigned portfolio, and oversee the attainment of budgeted goals by analyzing and evaluating financial statements, completing budget variance reports, and working with the Director of Property Management to address and resolve gaps in the portfolio's economic performance.
• Promotes resident satisfaction and retention through timely responses/resolutions to resident concerns, questions, and requests.
• Ensures that the appearance and physical aspects of the properties meet the established standards through routine site and safety inspections, and communicates concerns and requests for capital as needed to provide for the physical upkeep of each property in the portfolio.
• Responsible for reviewing monthly property reports including budget variance reports, occupancy/vacancies reports, and accounts receivable reports. For properties with affordable programs, Regional Managers are also responsible for reviewing applicable reports to ensure compliance with regulatory requirements, subsidy collections, and certification.
• Accompany stakeholders' on-site visits; travel to and between assigned properties on an average of a biweekly basis.
• Respond to emergencies as needed, and report all emergency situations; attend property meetings as required; function as liaison and advisor to Property Managers.
• Attend periodic meetings with HOC Property Management and Asset Management leadership teams, Third-party Property Managers, Third-party Property Management Company personnel, the Mortgage Finance Division, the Real Estate Development Division, the Finance Division, and Lenders.
• Display a high level of self-discipline, time management skills and responsibility in managing daily activities and adhering to organizational guidelines to execute tasks without the need for continuous oversight.

Minimum Qualifications:

Experience:

• At least six (6) years of progressively responsible experience in the area of multifamily property management focusing on affordable housing, with considerable knowledge of real estate finance, finance/accounting, property management and development. The preferred candidate has experience as a regional property manager.
• Solid background in real estate property operations and comprehension of related fiscal and financial statements for a real estate development company.
• Demonstrated knowledge of applicable federal, state regulations, policies, and procedures for affordable housing compliance and management, with the ability to interpret and apply.
• Experience in assessing market competitiveness and comparability in revenue and expense performance.

Education:

• Graduation from an accredited college or university with a Bachelor's degree in either Business or Public Administration or in a related field
• An equivalent combination of education and experience may be accepted.

Knowledge, Skills and Abilities:

• Ability to explain complex or technical information regarding rules, rights, regulations, policies, procedures, programs, or services to answer questions, resolve problems, or communicate decisions or actions.
• Proficient at identifying underperformance and coordinating with counterparts at third-party property management firms where applicable to stabilize underperforming properties.
• Ability to clearly and effectively communicate both verbally and in writing through active listening and sharing relevant information.
• Effectively organizes multiple assignments, sometimes of a complex nature or involving competing priorities, to produce work products that are accurate, thorough and on time.
• Ability to adapt to changing business needs, conditions, and work responsibilities; responds positively to change, embracing and using new practices or values.
• Proficiency using Office programs including Outlook/Gmail, Word, Excel and other analytical software programs.

* Grade 27 - Min: $83,429 / Mid: $111,702 / Max: $139,975 | Salary determined by departmental budget - Offer commensurate with experience.

This position is designated by the County Executive as one requiring the incumbent to file a Public Financial Disclosure Statement (FDS) pursuant to Montgomery County Ethics Policy. You must file a FDS within 15 days of your hire date, on an annual basis, and when you leave this position. Instructions to file an Initial Financial Disclosure Statement (FDS) are at www.montgomerycountymd.gov/financialdisclosure. You will receive a username and password from Montgomery County to provide access for online submission of your FDS. If you have questions or need assistance, please contact the Ethics Commission at [redacted].