Director of Property Management
Cabrillo Economic Development Corporation (CEDC) develops and manages service enriched, inclusive residential communities, ensuring access to affordable, secure, quality housing that creates the foundation for our residents to grow and thrive.
An industry leader since 1981, CEDC has built 45 affordable housing developments totaling close to 1,700 ownership and rental units. It currently has an ownership interest in 1,237 rental units that it manages. CEDC has an annual operating budget of $6,750,000 and multiple projects in the early stages of development.
CEDC is looking for a seasoned Director of Property Management (DPM) to oversee the day-to-day operations of a portfolio of 25 multifamily properties. This position acts as an intermediary between Asset Management and the Property Managers, directing and coaching site staff to ensure best industry practices are being implemented.
Our portfolio currently consists of 25 communities including one fee-managed property, with 1,237 affordable housing units with approximately 49 staff members.
The Director of Property Management is responsible for overseeing the management of all multi-family properties and ensures that the properties are managed and maintained consistent with the physical, financial, and social goals, standards and requirements of CEDC, third party clients and regulatory agencies and funders with the support of a team of community builders and various community partners. This position also works closely with other departments such as the Real Estate Development to ensure the delivery of high quality, well-designed housing, and resident services within Cabrillo’s residential portfolio. This position interacts with key external partners in the development and maintenance of strategic partnerships.
The DPM holds Resident Managers and Supervisors accountable for maximizing revenues, minimizing operating expenses, adhering to the annual budget, and following all company policies and procedures. At each property we also connect our residents to services through Resident Service Coordinators who report to the Director of Permanent Supportive Housing.
As DPM, this position focuses on individual leadership development, access to resources for individuals and families, and community empowerment. The department works at a grassroots level in CEDC rental developments and in communities where CEDC has developed housing or is planning to develop housing to strengthen the voice of those typically disenfranchised and to create systemic change. The division works in conjunction with other CEDC divisions and program areas to further community building efforts, particularly around strengthening the grassroots voice in the development process and furthering policy and advocacy goals in support of affordable housing.
In addition, the Director of Property Management will work with a new division within CEDC in the provision of permanent supportive housing to the unhoused to identify social services partners and to work in tandem with the Director of Permanent Supportive Housing to develop service plans for new residential properties. The PM Director prepares and implements programs, policies, and procedures, directs, manages, and trains staff, develops, and controls program budgets, and participates in fundraising. The Director of Property Management reports to the CEO, is a key member of the management team and is an instrumental partner to housing stability for the residents.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
• Team building and coaching site teams to guide in the development and training of Property Managers, Operations and Maintenance Staff including REAC, LIHTC, HUD, Rural Development regulations; resident retention practices; reporting; and best industry practices for operating procedures such as rent collections, evictions, accounting, maintenance, and purchasing.
• Review/prepare monthly property summaries including variance reports on income statements, vacancies, accounts receivable and submit them to the CEO, the CFO and lenders and/or investors as required.
• Visit sites on a regular basis to mentor Property Managers and monitor ongoing issues at the properties.
• Write and present status reports to leadership team and Board of Directors.
• Direct staff in preparing for reviews by regulatory agencies, lenders and investors and attend in preparation for these inspections. Review responses to findings or citations and ensure they are submitted to the agencies on time.
• Identify strengths and challenges in each team to improve efficiency and effectiveness.
• Foster a professional culture of site offices where staff can accomplish goals and feel good about their contributions.
• Ensure that teams comply with current applicable landlord-tenant law and fair housing law including reasonable accommodation procedures and policy.
• Approval of market rent changes, write-offs and reimbursements.
• Review site budget estimates with the CFO and Asset Management to submit complete budgets to CEO and Board for approval.
• Collaborate with the Director of Permanent Supportive Housing to define and coordinate roles and responsibilities between RCS and property managers.
• Create, refine and implement operational policies and procedures.
• Work with site staff to address resident complaints.
• Create and monitor budget for the property management division.
• Manage and direct Property Management staff which includes hiring, firing, supervising, training, coaching, and completion of performance evaluations.
• Ensure that all properties are managed, fiscally sound, leased and operated in compliance, including ADA, with all regulatory requirements; and ensure accurate, thorough and timely reporting to as well as, maintain positive relations with the California Tax Credit Allocation Committee (TCAC), the U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Agriculture- Rural Development, the State Department of Housing & Community Development (HCD), the Internal Revenue Service, and other funders, regulators, investors and partners.
• Collaborate with the Real Estate Development Department to ensure that issues affecting property management are integrated into the design, development and underwriting of new development projects; and prepare management agreements, management plans, initial operating budgets, lease-up and marketing plans for all new projects.
• Oversee the initial marketing and lease-up and transition to operation for new properties ensuring that all units are leased in compliance with the owner’s and all regulatory requirements.
• Work collaboratively with the Chief Financial Officer (CFO) to prepare annual operating and capital improvement budgets and long-term management plans for all properties. Ensure timely completion and submission of financial reports to regulatory agencies, partners, and investors.
• Ensure all new and existing vendor contracts are evaluated annually through the RFP process.
• Review, analyze, interpret, and summarize financial, occupancy and other property reports for presentation to the CEO, the CFO, and the CEDC Board of Directors.
• Ensure that policies and procedures are in place and followed to promote and maintain positive relations with residents and community representatives.
• Implement an effective business development and marketing strategy to secure third-party management contracts; and oversee and manage client relations.
• Bachelor’s degree in management/finance or equivalent industry experience a plus.
REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES:
• Minimum of 8 years of Property Management experience in affordable housing specifically required.
• Knowledge of Section 42 low-income housing tax credit, Section 8 HUD,REAC, Section 515, VASH, USDA Rural Development and similar housing programs.
• Solid knowledge of the Fair Employment & Housing Act (FEHA), the Unruh Act and the Federal Fair Housing Act.
• Strong leadership, management, and supervisory skills; demonstrated ability to effectively manage a diverse employee base.
• Demonstrated leadership skills using performance incentives and team-building strategies.
• Strong written, oral, and reading comprehension skills to accurately obtain, interpret and transcribe complex programs at all levels of the organization.
• Strong computer skills and experience with Yardi, MRI, Boston Post or other industry software
• Excellent public presentation skills.
• Ability to work with diverse community groups, while maintaining sensitivity to the needs and concerns of low-income individuals.
• Problem solving, strategic thinking and analytical abilities.
• Familiarity with financing, federal and state affordable housing regulations, income eligibility determination, fair housing law, tenant-landlord law, maintenance, and property insurance.
• Bilingual (English/Spanish) written and verbal highly desirable.
• Appreciation of and commitment to the mission of Cabrillo Economic Development Corporation.
• Demonstrated ability to initiate and maintain effective cooperative relationships with low-income residents, community groups, service providers, business leaders, and local government.
• Extensive experience in program development and implementation with an emphasis on
programs related to children, youth, veterans, special needs populations and their families.
• Knowledge of public benefits and social service systems; ability to promote independent living with residents.
• Nonprofit housing experience, including experience with resident councils or limited equity housing cooperatives
LICENSES & OTHER REQUIREMENTS:
• A valid California driver’s License and proof of automobile liability insurance.
• Certified Property Manager (CPM) designation and Certified Occupancy Specialist (COS).
• National compliance certification and State of California Department of Real Estate Broker’s License, preferred.