What are the responsibilities and job description for the Assistant Vice President - (Regional) -Tax Credit position at Sunridge Management?
POSITION: Assistant Vice President - AVP (Regional) -Tax Credit
REPORTS TO: Vice President - VP
JOB PURPOSE
The Assistant Vice President is a key position within our Residential Management operation. The position serves as the leader in quality control for our on-site operation, the heartbeat of our organization. This critical job requires that the Assistant Vice President remain in close contact with his/her properties and people. Occupancy, expenses, collections, and leasing must be monitored closely to increase profits and reduce financial exposure. The Assistant Vice President must look to Senior Management for guidance and support to succeed in this position. The person must be a self-starter, highly motivated, and skilled in managing people and product. Tax Credit experience is required.
OPERATING PHILOSOPHY
SunRidge’s operating philosophy is to manage projects for a long-term hold with an underscoring objective to increase revenue, control expenses, and achieve growth goals in net operating income based on each owner’s objectives for the property. In addition, property replacement expenditures will be reviewed and approved based on how they will enhance the overall project revenue, protect the overall investment, or, in some cases, reduce the operating expenses to increase the value of the property. Limits for such approval are based on the specific contract guidelines per property.
DUTIES AND RESPONSIBILITIES
To organize, direct and manage the operation of multiple apartment communities in accordance with SunRidge’s policies to achieve the owners’ objectives. The primary Assistant Vice President’s general responsibilities include, but are not limited to, motivating, directing, and following through with on-site managers to achieve the following:
FINANCIAL
MARKETING
The monthly financial statement and weekly reports are designed to track the financial, marketing, and overall operational performance of each property. The marketing and operational aspects are reviewed on an ongoing basis but are reported by the Assistant Vice President weekly. The financial aspect is reported by the Assistant Vice President to the Vice President monthly. The Assistant Vice President is responsible for assessing market trends, revenue trends, and the overall performance of each property and translating this assessment into monthly objectives. The objectives should focus on improving each property’s performance. The Assistant Vice President and Vice President must work weekly and even daily to achieve their performance objectives.
SKILLS, KNOWLEDGE, EXPERIENCE, & EDUCATION:
SPECIAL CONSIDERATIONS
The job requires more than a forty-hour week. Periodic weekend visits to properties might be necessary. Travel and/or relocation may be necessary.
SunRidge Management Group is an equal opportunity employer and a drug-free workplace that has been in business for over 30 years.
REPORTS TO: Vice President - VP
JOB PURPOSE
The Assistant Vice President is a key position within our Residential Management operation. The position serves as the leader in quality control for our on-site operation, the heartbeat of our organization. This critical job requires that the Assistant Vice President remain in close contact with his/her properties and people. Occupancy, expenses, collections, and leasing must be monitored closely to increase profits and reduce financial exposure. The Assistant Vice President must look to Senior Management for guidance and support to succeed in this position. The person must be a self-starter, highly motivated, and skilled in managing people and product. Tax Credit experience is required.
OPERATING PHILOSOPHY
SunRidge’s operating philosophy is to manage projects for a long-term hold with an underscoring objective to increase revenue, control expenses, and achieve growth goals in net operating income based on each owner’s objectives for the property. In addition, property replacement expenditures will be reviewed and approved based on how they will enhance the overall project revenue, protect the overall investment, or, in some cases, reduce the operating expenses to increase the value of the property. Limits for such approval are based on the specific contract guidelines per property.
DUTIES AND RESPONSIBILITIES
To organize, direct and manage the operation of multiple apartment communities in accordance with SunRidge’s policies to achieve the owners’ objectives. The primary Assistant Vice President’s general responsibilities include, but are not limited to, motivating, directing, and following through with on-site managers to achieve the following:
- Assist with Fair Housing, Section 42 Tax Credit and/or HUD Section 8 Program compliance
- Knowledge of LIHTC (Low-Income Housing Tax Credit), Affordable Housing, Section 8, Fair Housing Laws, Health and Safety issues
- Stay informed about changes to affordable housing regulations and requirements
- Maximum utilization of on-site resources (people, time, material, capital, and facilities) to increase sales, increase prospect base and retain residents under contract.
- Accurate implementation of SunRidge accounting, marketing, and maintenance policy and procedure.
- On-going protection, maintenance, and effective use of ALL property equipment, facilities, material, landscape, and other assets within the manager’s control.
- Recruitment, training, and development of all property personnel to create a motivated team to provide a positive company/community relationship.
- Timely and accurate financial and accounting controls to provide a clear financial picture of each property.
- Identify households with income reporting discrepancies and adjust rent
- Maintain and audit HUD files
- Maintain HUD compliance requirements in accordance with goals, policies, and procedures of the HUD-subsidized multifamily housing program
- Ensure compliance with HUD income requirements, utility allowances, and yearly rent updates
- Determine eligibility for assistance and occupancy in accordance with program guidelines
- Train colleagues to ensure program compliance
FINANCIAL
- Prepare annual budgets in detail with the cooperation of on-site managers supported by complete and detailed budget assumptions.
- Design budgets based on formulas prescribed by owners and senior management.
- Review monthly financial statements, collection reports, and budget status in detail with managers and Vice President for problem areas, correction, and variance reporting.
- Complete standardized monthly variance report for assigned properties.
- Approve all replacement expenditures by issuance of purchase orders to managers based on contract approval limits. All replacement expenditures must have a referencing purchase order/funding request.
- Issue purchase orders on budget variances within appropriate approval levels.
- Approve all bills and security deposit dispositions incurred on assigned projects.
- Audit lease renewal worksheets monthly and delinquent reports weekly, or daily if required, to determine whether manager 1) is giving appropriate rent increases, 2) is collecting all rental receipts, and 3) is preparing the paperwork accurately.
- Review the delinquency report weekly, or daily if required, in detail with managers to determine the status of evictions or collection potential on individual residents.
- Cooperate in unbiased and unannounced property audits.
- Every twelve months or sooner, re-bid all recurring contracts to ascertain the best price.
- Coordinate major project supervision and payments with the company president and/or the owner’s representative.
MARKETING
- Review the weekly reports prepared by the managers to review problem floor plans and recommend rent adjustments or specials where floor plans remain leased at high levels. Review the report to evaluate traffic, capture rate progress, and recommend improvements.
- Review weekly marketing objectives and implement recommendations as requested to improve marketing.
- Motivate personnel on-site so that a high level of accomplishment and professionalism is maintained.
- Coordinate brochure design, signage, and advertisements.
- Review monthly market studies of assigned projects to stay abreast of changing market conditions and recommend changes depending on the market.
- Recommend rental rates or rental concessions to the Vice President. No changes should be made without good reasoning, studies, or identification of trends and the changes cannot be made without the Vice President’s approval.
- Utilize company marketing and training resources to develop “service-oriented management teams.”
- Monthly sign-off on lease renewal worksheet.
- Adhere to deadlines on the monthly calendar.
The monthly financial statement and weekly reports are designed to track the financial, marketing, and overall operational performance of each property. The marketing and operational aspects are reviewed on an ongoing basis but are reported by the Assistant Vice President weekly. The financial aspect is reported by the Assistant Vice President to the Vice President monthly. The Assistant Vice President is responsible for assessing market trends, revenue trends, and the overall performance of each property and translating this assessment into monthly objectives. The objectives should focus on improving each property’s performance. The Assistant Vice President and Vice President must work weekly and even daily to achieve their performance objectives.
- Responsible for knowing the rental application, lease, and all applicable Texas property code laws.
- Responsible for keeping up to date with the TAA Redbook and any changes relating to the TAA application, lease, and related lease forms.
- Set specific objectives for on-site managers to evaluate accomplishment (marketing, collections, and motivation).
- Motivate on-site personnel to obtain better productivity and professionalism.
- Inspect properties at least weekly (based on geographies, monthly) to evaluate the quality of vacant units, collections, leasing progress, report preparation, and personnel motivation.
- Coordinate salary administration review with the Vice President annually of on-site personnel.
- Coordinate the hiring of on-site personnel through the manager.
- Discuss problem areas and recommend solutions with the Vice President for direction and approval.
- Coordinate on-site staff with marketing, systems, and maintenance training to improve productivity.
- Involve on-site managers with follow-up on all audits.
- Inspection with sales or syndication personnel by requests for project visits or mortgage inspections and eventual closings or takeovers.
SKILLS, KNOWLEDGE, EXPERIENCE, & EDUCATION:
- Excellent written and oral communication skills.
- Can create a motivating environment.
- Can demonstrate and apply basic sales techniques (in person and on the telephone).
- Ability to model and demonstrate company operational practices and policies.
- Prior sales experience is helpful.
- 3-5 years’ experience in Real Estate.
- Experience in varied apartment marketplaces.
- Proven track record in hands-on apartment management operation(s).
- Can operate a personal computer, software, and office-related peripherals i.e. printer, fax, copier, etc.
- Experience using the Internet, Microsoft Windows, and Microsoft Office (Outlook, Word & Excel).
- Knowledge of industry-related programs such as OneSite, Yardi, and Bluemoon (Apartment Association Forms).
SPECIAL CONSIDERATIONS
The job requires more than a forty-hour week. Periodic weekend visits to properties might be necessary. Travel and/or relocation may be necessary.
SunRidge Management Group is an equal opportunity employer and a drug-free workplace that has been in business for over 30 years.
