Regional Portfolio Manager

Bader•Saint Louis Park, MN

9h•Onsite

About The Position

Bader has been successfully managing rental communities in the Twin Cities of Minneapolis and St. Paul for more than 50 years and is one of the largest locally owned property management firms in Minnesota. This opportunity allows you to utilize your skills at Bader. The Regional Portfolio Manager is accountable for the preparation of annual budgets, maintaining control over budget execution, training site employees on financial management, analyzing financial reports, and developing corrective action plans for properties. The role also involves reviewing and abiding by Management Agreements, visiting properties, inspecting conditions, assessing physical condition for capital improvements, ensuring preventative maintenance schedules, and attending property inspections. Additionally, the manager interviews, hires, mentors, and supervises Property Managers, oversees staffing, resolves employee issues, performs performance reviews, and enforces safety policies. They maintain awareness of market conditions, consult with Marketing for plans, and analyze reports. The position also requires collaboration with various departments to ensure compliance with affordable housing programs like LIHTC and Section 8, developing procedures, training employees, and monitoring properties for HUD rules. The manager establishes and maintains industry contacts, supports company values, ensures Fair Housing compliance, and seeks continuous professional development.

Responsibilities

Accountable for the preparation of a proposed annual budget of income, expenses and capital improvements for each property under their supervision to be submitted to and approved by the property owner.
Maintains control throughout the year over the execution of the approved budget to ensure budget guidelines and administrative, physical and financial goals are achieved.
Trains site employees on financial management including expense control to ensure budget compliance.
Approves non-budgeted expenses or revenue changes and authorizes any expenditure within budget that is over the spending limit of the Property Manager.
Seeks approval of owner, as necessary regarding budget variances.
Analyzes monthly financial reports, prepare monthly variance reports and ensures the report is sent, along with the agreed upon financial reports, to the owner in a timely fashion.
Reviews financial and other property metrics/reports such as employee turnover, resident turnover, per unit expenses reports, accounts receivable and collections, accounts payable, applicant approve/decline ratio, leasing statistics, maintenance work order statistics, social media comments, and resident surveys, etc. to ensure each assigned property is performing at an optimal level, and within company and industry standards.
Develops a corrective action plan (recovery plan) for any property off budget.
Identifies opportunities to improve revenue and reduce expenses and work with team members to implement changes.
Ensures that Property Managers maintain accounts receivable at less than 1% of the Gross Potential Rent at time of close of monthly books.
Reviews and abides by all terms of the Management Agreements.
Visits each property in their portfolio no less than once per month, but more frequently, if needed.
Physically walks and inspects the entire property semi-annually to verify the condition of the overall property, including interior and exterior common areas, amenity areas, signs and vacant apartments, and ensure the property and curb appeal is being maintained to the owner and Bader standards.
Observes any unsafe conditions and arrange for immediate corrective action.
Reviews office procedures, safe keeping of company property and accurate maintenance of any and all resident files.
Meets with site employees on apartment turn over procedures to ensure prompt and thorough readiness of vacant apartments within three days of vacancy.
Assesses physical condition of the property and makes recommendations for capital improvements and asset preservation.
Ensures that there is a Preventative Maintenance schedule in place, for each property, based on the specific property needs.
Reviews the Preventative Maintenance Schedule with the site Property Manager and Lead Maintenance Technician monthly to confirm the plan is being followed.
In conjunction with the Director of Facilities evaluates and makes changes or addresses problems with the plan, as needed.
Reviews service maintenance level reports including property turnover; make ready statistics, service request reporting, inspection reports and safety level reporting and directs resources and changes if performance standards are not being achieved.
Attends property inspections with mortgage companies, insurance companies, City Inspection Departments and REAC, if applicable.
Follows-up on items requiring completion as a result of the inspection and corresponds in writing with completion details.
Ensures continued compliance with governing entity requirements.
Reviews all reports of liability and property incidents within their portfolio.
Ensures that all workers' compensation claims are reported and proper paperwork is completed.
Accountable to make sure all employees and contractors working at a property are informed of any O&M Plans for the property and use safe work practices in handling hazardous materials.
Ensure that all site employees operate within OSHA (Occupational Safety & Health Act) standards and company safety policies at all times.
Provides direction on all residential issues, mediate resident complaints and respond to resident inquiries in a timely, professional manner.
Interviews, hires, mentors and supervises Property Managers to achieve financial and operational goals of each assigned property.
Monitors compliance with all required reporting and company policy and procedures.
Works with Director of Training to ensure property personnel receive thorough and timely training.
Oversees adequate staffing at each property and works on developing functional teams at the site.
Consults with Property Manager to resolve employee issues concerning performance or employee disciplinary actions.
Works with the Property Manager/Human Resources department to design and implement corrective action plans, as needed, to guide employee performance.
Performs annual and periodic performance review with direct reports and recommend compensation changes in accordance with Bader policies.
Leads teams with a positive customer service and “can do” attitude and congratulates on success by using and encouraging the High Five Program.
Enforces safety policy and procedure and use of protective equipment by all employees.
Maintains awareness of market/industry conditions and trends via trade publications, professional organizations, shopping the competition, etc.
Consults with Marketing for property repositioning opportunities.
Consults with the Marketing department to develop and implement a marketing plan for the property that maintains the highest revenue, by maximizing rents on vacant apartments and lease renewals while minimizing vacancy loss.
Reviews traffic, conversion ratio, reasons for move outs and other marketing reports with the Property Manager and make plans for corrective action, as needed.
Analyzes Satisfact reports and follow up with site employees on action plans to respond.
Collaborates with Compliance Partner, Marketing, Asset Management, Development, and Accounting, and other departments to adhere to contract requirements and meet performance milestones.
Familiar with LIHTC, Section 8, and other affordable housing programs.
Develops and disseminates procedures to ensure compliance with all policies and procedures.
Trains employees and audits files to insure complete and accurate documentation of all operational, compliance and financial performance requirements, including tenant income certifications (TIC) and annual recertifications.
Oversees site team’s interaction and coordination with local housing authorities, with regards to documentation, inspections, lease renewals, account status and any issues related to residents participating in the agency’s programs.
Monitors properties for compliance with HUD rules and regulations.
Establishes and maintains industry contacts and relationships in the property's marketplace through involvement in trade organizations, property management associations and networking opportunities with vendor outreach and peer groups.
Supports the company’s mission, vision, values philosophy and adhere to policies.
Responsible for ensuring that all personnel comply with all industry Fair Housing rules.
Responsible for seeking educational opportunities and self-improvement for personal growth and development.
Keeps abreast of new technologies, systems and procedures related to property management.
Other duties as assigned or as periodically required due to changes in best business practices, statutes or owner requirements.