Senior VP of Property Management

Foster City, California, United States
Full-time
Posted

Description

MISSION AND VALUES

MidPen Housing is a non-profit organization that develops high-quality affordable housing communities, professionally manages the properties in those communities, and provides services to residents. The three affiliated corporations are MidPen Housing Corporation, MidPen Property Management Corporation and MidPen Resident Services Corporation.

Our mission is to provide safe, affordable housing of high quality to those in need; to establish stability and opportunity in the lives of residents; and to foster diverse communities that allow people from all ethnic, social, and economic backgrounds to live in dignity, harmony, and mutual respect.

MidPen Housing associates advance a culture of belonging, inclusion, diversity, and equity to effectively bridge across differences that are representative of the communities we serve. We seek to have a high performing, inclusive, and engaged workforce that is centered around constant learning.

COVID-19 Vaccination Mandate - Booster Included in MidPen Mandatory Vaccine Policy!

  • All MidPen employees are required to be fully vaccinated against COVID-19.
  • Starting April 1st, 2022, boosters will be required for employment at MidPen. (As a reminder, booster eligibility means that at least 5 months have passed from your 2nd shot of Moderna or Pfizer or 2 months from your Johnson & Johnson shot.)
  • Employees will have 30 days past their eligibility date to get the booster. (By April 1, all employees should have the booster — unless 30 days have not passed since their eligibility date.)
  • Subject to applicable law, all prospective hires will be required to demonstrate they have been fully vaccinated for COVID-19; or qualify for an accommodation to this vaccination requirement.
  • Employees with an approved accommodation will be required to test for COVID-19 on a weekly basis.

SUMMARY

The Senior Vice President, Property Management reports to the Chief Operating Officer and is a member of the Stewardship Team, MidPen’s most senior leadership team. S/He/They are a highly collaborative solutions-oriented leader with influencing capability able to align the property management strategy with the business strategy. Senior Vice President, Property Management must be a strategic doer, demonstrating agility and collaboration throughout the organization. Empathy and strong interpersonal skills are essential. S/He/y must be compassionate, self-aware, and able to skillfully manage their emotions and those of others.

The Senior Vice President, Property Management is responsible for the physical integrity, safety, compliance, occupancy levels, and client satisfaction for the MidPen Housing portfolio of managed properties. This includes over 125 individual properties and over 8000 units in Northern California. The Senior Vice President, Property Management will also provide leadership responsibility for over 250 employees, located at our regional offices and in the field. In addition, the Senior Vice President, Property Management will manage a $30M+ yearly operating budget and oversee a significant capital budget. This role will also develop long-term financing and asset preservation strategies for MidPen Housing’s portfolio of affordable housing to leverage assets and support the organizational mission.

The Senior Vice President, Property Management will manage property refinancing, recapitalization, and rehabilitation. Foster and maintain investor and lender relationships in partnership with the Leadership Team to enhance MidPen Housing’s interests with respective properties. The Senior Vice President, Property Management will also monitor and evaluate MidPen portfolio performance and provide analytical support to the property budget development and review process.

The Senior Vice President, Property Management plays an important role in advancing MidPen’s culture of diversity, equity, inclusion, and belonging (DEIB) through MidPen’s Collective Voices for Equity Council. S/He/They will partner with MidPen’s DEIB leader to advance and deepen these principals across the organization.

ESSENTIAL DUTIES

Organization Development: Sets Strategic Direction; develops effective programs and policies; leadership and team development:

  • Work with senior management and board to establish and implement policies regarding capital assets and debt management
  • Track partnerships including distributions, soft loans, reserves, and capital accounts
  • Partner with Asset Management to analyze options for re-financing to maximize property cash flow and resources for recapitalization
  • Partner with Asset Management to develop and execute corrective action plans for properties not meeting benchmarks
  • Partner with Asset Management to develop long-term financial plans for each property to support adequate capital planning
  • Review property budgets and long-term capital plans for overall reasonableness, comparison to portfolio and industry averages, and special financing provisions such as balloon payments or special reserves
  • Partner with Asset Management to develop alternative financing strategies and implement for the existing portfolio
  • Plan and coordinate physical rehabilitation work in partnership with Development
  • Partner with Asset Management to plan long-term portfolio strategies to sustain affordability into perpetuity
  • Partner with Asset Management to manage lender relationships to ensure debt and regulatory issues are addressed appropriately
  • Partner with Asset Management to provide effective analysis and reporting to all investors and lender
  • Incorporate new properties into asset management review and reporting after occupancy and monitor early financial performance closely. Coordinate adjustments with Development and Property Management as necessary
  • Work with Asset Management to coordinate investor relations to ensure all approval rights and partnership terms are met
  • Assist Development staff in soliciting and evaluating investor proposals for new developments
  • Develop and annually update a five-year strategic plan
  • Monitor property financial performance compared to projections at time of financing
  • Manage performance reports for distribution to the Executive Team and Board of Directors
  • Work with Property Management during budget development to ensure adherence to investor, lender, and regulatory requirements
  • Provide long-term analysis and review as input to the property budget process, particularly in the long-term capital planning arena
  • Provide analytical support to Property Management’s presentation of budgets to the Finance, Property and Asset Management Committee
  • Create and communicate expectations for staff and hold staff accountable for results
  • Prepare objectives, key results, and quarterly check-ins for staff on a timely basis
  • Embrace a learning mindset with a focus on individual development
  • Build and maintain strong organizational relationships with Human Resources, Information Technology and Business Systems
  • Assure the integrity and consistency of all compliance and other required reporting related to the property portfolio

Performs other assignments as requested.

QUALIFICATIONS

To perform this job successfully, an individual must be a individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the education, knowledge, skill, and/or ability required.

KNOWLEDGE, SKILLS AND ABILITIES

  • A minimum of 10 years experience in the field of asset or real estate management sector. Experience must have been while working in a supervisory capacity
  • Some experience managing affordable housing properties, laws and regulations that apply to them (HUD, IRS, State Agencies and OSHA) is preferred
  • The ability to communicate effectively and with impact both internally (all levels of staff and the Board of Directors) and externally (regulators, government officials, lenders, investors, vendors, and the media)
  • Experience in leading the management of a significant portfolio of multi-unit properties and significant number of overall units with high levels of client satisfaction
  • Proven results and effectiveness in leading and developing a large organization with multiple levels of staff, is required
  • Proven ability to recruit, train and develop staff, especially supervisory and management staff, is required
  • Proven ability to effectively manage and control significant operating and capital budgets, as well as train and delegate budget management responsibility and accountability to appropriate staff, is required
  • Experience in a formal strategic planning process - development through implementation is highly desirable
  • The ability to create, delegate and monitor operational plans and objectives for the Property Management function is required
  • Proven results in working as a highly functional team player in terms of communication, individual and departmental accountability and decision making
  • A working knowledge of facility maintenance and enhancement is highly desirable. This includes both physical repair and enhancement as well as applicable codes or code processes
  • The ability to create and deploy both quantitative and qualitative processes to audit levels of client satisfaction, as well as all compliance requirements
  • Skill and experience in the selection, implementation, training, and oversight of information systems that directly support or interface to the Asset and Property Management function
  • Ability to create or collaborate on marketing programs to expedite the lease-up of new properties is highly desirable. This also includes oversight of the process for qualifying potential tenants
  • Create and collaborate on extensive functional training programs (job skills, client satisfaction, planning and organization, safety, financial understanding, and accountability)
  • Knowledge of federal, state, local and private financing sources for low-income housing
  • Excellent analytical skills with proven ability to create and analyze financial feasibility reports, project development proformas, budgets and cash flows
  • Excellent problem solver – one who enjoys complexity.
  • Excellent written and verbal communication skills, with experience presenting before governing bodies such as boards of directors and regulatory agencies
  • Proven ability to collaborate with cross functional leaders and teams
  • Experience with system enhancement specifications and development and proven ability to create and manage performance data base
  • Demonstrated leadership and management experience with proven results

PHYSICAL REQUIREMENTS

  • Constantly perform desk-based computer tasks
  • Frequently sitting
  • Occasionally stand/walk, reach/work above shoulders, grasp lightly/fine manipulation, grasp forcefully, use a telephone, sort/file paperwork or parts, lift/carry/push/pull objects that weigh up to 10 pounds
  • Rarely twist/bend/stoop/squat, kneel/crawl

This description reflects management’s assignment of essential functions, it does not proscribe or restrict the tasks that may be assigned

Consistent with its obligations under the law, MidPen Housing Corp. will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of his or her job.

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