Description Job Overview: The Senior Property Manager is responsible for all aspects of client relations from financial reporting to building staff performance and productivity. This role requires extensive affordable housing experience and a strong working knowledge of properties governed by multiple regulatory agencies and financing/program structures, including HUD, HCR, NYC HDC, NYC HPD, LIHTC, Section 8, HOME, tax-exempt bond programs, rent stabilization, regulatory agreements, and other federal, state, and local affordable housing programs
Responsibilities include (but are not limited to): - Provide overall leadership and oversight for an assigned portfolio of affordable, mixed-income, and regulated multifamily properties.
- Maintain accountability for property operations, financial performance, regulatory compliance, resident experience, physical condition, and client satisfaction.
- Develop and execute property-specific operating strategies consistent with ownership objectives, regulatory requirements, and company standards.
- Conduct regular property inspections and operational reviews to identify risks, deficiencies, and opportunities for improvement.
- Oversee property transitions, lease-ups, stabilizations, management takeovers, and other special projects as assigned.
- Provide operational oversight of properties subject to regulatory agreements and affordability requirements administered by HUD, HCR, HDC, HPD, and other applicable agencies.
- Maintain strong working knowledge of LIHTC, Section 8/HCV/PBV, HOME, tax-exempt bonds, rent stabilization, income and rent restrictions, regulatory agreements, subsidy programs, and other applicable affordable housing requirements.
- Partner closely with the Affordable Housing/Compliance team to ensure timely and accurate initial certifications, annual and interim recertifications, lease renewals, income eligibility determinations, rent calculations, utility allowances, regulatory reporting, and required notices.
- Ensure site teams understand the regulatory requirements applicable to their individual properties rather than applying a one-size-fits-all approach across the portfolio.
- Monitor regulatory deadlines, affordability restrictions, subsidy requirements, rent limits, household eligibility, and other property-specific compliance obligations.
- Support responses to regulatory agency reviews, management and occupancy reviews, file audits, LIHTC audits, investor reviews, lender reviews, and other compliance monitoring activities.
- Ensure findings, deficiencies, late certifications, documentation issues, and other compliance concerns are corrected in a timely and appropriate manner.
- Maintain familiarity with each property's regulatory agreements, financing structure, tenant selection plan, marketing requirements, subsidy contracts, and other governing documents.
- Partner with compliance and legal teams on complex regulatory matters and appropriately escalate potential noncompliance concerns.
- Provide oversight of rental subsidy programs applicable to the portfolio, including tenant-based and project-based Section 8 and other local rental assistance programs.
- Monitor subsidy collections, HAP payments, tenant portions, abatements, suspended payments, discrepancies, and outstanding subsidy receivables.
- Ensure rent increases and subsidy renewal opportunities are pursued in accordance with applicable regulatory and program requirements.
- Work with affordable housing and property teams to identify opportunities to maximize legally permissible rental and subsidy revenue while maintaining full regulatory compliance.
- Monitor legal rents, restricted rents, actual rents, preferential rents, contract rents, and subsidy rents as applicable to each property.
- Maintain accountability for portfolio-level financial performance, including revenue, operating expenses, NOI, collections, vacancy, bad debt, and controllable expenses.
- Prepare, review, and manage annual operating budgets, forecasts, variance analyses, and capital plans.
- Review monthly financial statements and develop corrective action plans for unfavorable variances.
- Monitor accounts receivable, subsidy receivables, delinquency, collections, vacancy loss, concessions, and other revenue opportunities.
- Identify opportunities to improve property performance without compromising regulatory obligations or resident service standards.
- Partner with accounting and ownership groups on financial reporting, audits, reserves, capital expenditures, and other financial requirements.
- Serve as a primary point of contact for ownership and clients regarding portfolio operations, financial performance, regulatory matters, and strategic initiatives.
- Prepare and present property performance, financial results, compliance status, operational risks, and action plans during client and ownership meetings.
- Develop productive working relationships with regulatory agencies, subsidy administrators, lenders, investors, auditors, consultants, legal counsel, and community partners.
- Coordinate with internal compliance specialists and regulatory agencies to resolve complex affordable housing matters.
- Ensure material operational, financial, and regulatory risks are communicated promptly to senior leadership and ownership.
- Maintain oversight of resident relations, escalated complaints, reasonable accommodations, lease enforcement, legal matters, and other complex resident issues.
- Ensure compliance with Fair Housing, reasonable accommodation, accessibility, and all applicable federal, state, and local housing requirements.
- Partner with legal, compliance, and risk management teams on matters involving litigation, regulatory exposure, resident disputes, and potential liability.
- Ensure properties maintain appropriate documentation and consistently apply approved policies and procedures.
- Perform leasing and sales activities as needed, including greeting and qualifying prospects, conducting property tours, processing applications, and preparing lease agreements.
- Inspect apartments prior to resident move-in and ensure units meet move-in-ready standards.
- Collaborate with community social workers and service providers to support resident needs and community initiatives.
- Provide leasing support on an as-needed basis to maintain occupancy and operational goals.
Skills & Qualifications :
- 5-7+ years of progressive multifamily property management experience, including substantial direct experience managing affordable and regulated housing.
- Demonstrated experience managing a multi-property portfolio and supervising property management teams.
- Extensive working knowledge of affordable housing programs and regulatory environments, including HUD, LIHTC, Section 8, NYS HCR, NYC HDC, NYC HPD, HOME, tax-exempt bond programs, rent stabilization, and other federal, state, and local affordability programs.
- Experience interpreting and implementing regulatory agreements and property-specific affordability requirements.
- Strong understanding of income certifications, recertifications, rent restrictions, subsidy administration, leasing, renewals, compliance monitoring, and regulatory reporting.
- Demonstrated financial management experience, including budgeting, forecasting, financial statement analysis, variance management, collections, and NOI performance.
- Experience managing regulatory audits, agency reviews, investor and lender inspections, and corrective action processes.
- Strong leadership, communication, organizational, problem-solving, and client relationship management skills.
- Ability to effectively manage multiple properties, regulatory structures, deadlines, and competing priorities simultaneously.
- Experience with affordable housing and property management software systems, including Yardi.
- Affordable housing certifications such as COS, TCS, SHCM, C3P, HCCP, or equivalent are strongly preferred.
- NYS Sales License preferred; must obtain license within 150 days of hire if not currently licensed.
- Fair Housing Certification required within 60 days of hire.
- LIHTC Certification required; must obtain within 90 days of hire.
What We Offer: As a full-time exempt associate, you will be eligible for full comprehensive benefits to include your choice of multiple medical plans, dental, vision, life insurance, short term disability, legal, and identity theft. You will also be eligible for company paid life insurance, long term disability, and benefits from our employee assistance program. In addition, you will be eligible for paid time off, paid holidays, and a 401k with company match.
Compensation: $135,000 - $150,000 / year
Automated Employment Decision Tool (AEDT) Usage: We may utilize an Automated Employment Decision Tool (AEDT) in connection with the assessment or evaluation of candidates. The AEDT is designed to assist in objectively evaluating candidate qualifications based on specific job-related characteristics.
Job Qualifications and Characteristics Assessed: The AEDT evaluates candidates based on job qualifications and characteristics pertinent to the role, including skills, experience, and competencies relevant to the position requirements. These qualifications are determined by the unique needs of each role within our company.
