VP OF PROPERTY OPERATIONS

Description:

The Vice President (VP) of Property Operations is a key member of the 360 Leadership Team, responsible for overseeing all aspects of property operations, asset management, and investor relations. This role ensures the effective implementation, monitoring, and management of programs, budgets, contracts, and vendor services to maintain high operational standards across the portfolio.

The VP of Property Operations must have in-depth knowledge of federal, state, and local regulations governing public and private housing, with expertise in Low-Income Housing Tax Credits (LIHTC), Housing Choice Vouchers, Low-Income Public Housing, and Rental Assistance Demonstration (RAD) developments. The VP of Property Operations is accountable for monitoring key performance indicators (KPIs) to drive operational excellence, enhance tenant satisfaction, and support a high-performing property management team.

The VP of Property Operations must demonstrate the ability to navigate complex affordable housing environments, collaborating effectively with investors, regulatory agencies, government officials, and senior executives. Reporting directly to the Senior Vice President of 360 Management Group, this position serves as a key leader and decision-maker. In the absence of the Senior Vice President, the VP of Property Operations will represent 360 Management Group, ensuring continuity of leadership and operational success.

1. Strategic Leadership & Oversight

• Develop and implement operational strategies to ensure that managed properties provide residents with high-quality housing, exceptional services, and a well-maintained living environment while maintaining financial and regulatory compliance.
• Lead, mentor, and develop Portfolio Directors and Director of Capital Assets, ensuring strong leadership and operational effectiveness at all levels.
• Establish performance metrics and accountability measures for operations teams to drive operational success.
• Identify training needs and oversee the implementation of professional development programs to enhance staff competencies in property operations.
• Oversee retention and succession planning strategies to ensure a high-performing operations team.

2. Operational Efficiency & Process Improvement

• Identify and implement process improvements to enhance operational efficiency across the property management portfolio.
• Develop and standardize best practices for property management, leasing, maintenance, and compliance to drive consistency and excellence.
• Utilize property management software and technology solutions to streamline operations, enhance reporting, and improve tenant services.

3. Financial & Budget Oversight

• Lead the development, review, and approval of annual operating budgets for the property management portfolios, ensuring financial sustainability and cost control.
• Monitor financial performance, including revenue, expenses, and net operating income (NOI), making recommendations for improvement where needed.
• Collaborate with finance to ensure accurate financial reporting, budgeting, and forecasting for managed properties.
• Approve large expenditures, contracts, and capital improvement projects in accordance with budgetary constraints and organizational policies.

4. Capital Planning & Asset Management

• Oversee the Director of Capital Assets, ensuring effective planning, budgeting, and execution of capital improvement projects across the property portfolio.
• Ensure properties remain well-maintained, safe, and competitive by implementing long-term capital planning strategies aligned with the organization’s mission and budgetary constraints.
• Develop and oversee asset management plans to optimize property value, lifespan, and operational efficiency.
• Work closely with Portfolio Directors and the Director of Capital Assets to ensure preventative maintenance programs are effectively implemented and capital needs are proactively addressed.
• Review and approve capital expenditure proposals, ensuring cost-effectiveness and alignment with organizational priorities.
• Collaborate with finance and senior leadership to secure funding and grants for capital improvement projects.

5. Safety & Risk Management

• Ensure that all properties comply with safety regulations, risk management protocols, and emergency preparedness plans.
• Enforce workplace safety standards for staff and residents, collaborating with Portfolio Directors to mitigate hazards.
• Collaborate with Portfolio Directors and HR to develop and implement safety training programs for property management staff to promote a culture of workplace safety and compliance.
• Serve as the first point of contact during major emergencies, as outlined in the notifications plan, ensuring timely communication and coordination of response efforts.

6. Resident Experience & Customer Service

• Drive initiatives to improve tenant satisfaction and retention, ensuring properties provide a high-quality living experience.
• Develop and implement resident feedback mechanisms to assess service quality and address concerns proactively.
• Enforce timely resolution of tenant complaints, maintenance requests, and service issues to enhance resident engagement and community reputation.

7. Compliance

• Collaborate with ECC/HANH’s procurement department to ensure that all purchasing activities comply with federal and state laws while maximizing operational efficiency and cost-effectiveness.
• Ensure the integrity and effectiveness of all property management policies, administrative plans, and operating procedures by reviewing, revising, and updating them regularly.

8. Regulatory & Board Reporting

• Attend board meetings and provide timely reports on property management performance, occupancy trends, financial metrics, and compliance matters.
• Prepare and present operational reports to senior leadership, investors, and regulatory agencies as required.

9. Stakeholder & Partner Relations

• Represent 360 Management Group to external stakeholders, investors, and community partners, effectively marketing the organization’s property management services.
• Strengthen partnerships with local agencies and organizations to enhance service offerings for residents.

10. Strategic Growth & Business Development

• Identify and assess opportunities for portfolio expansion, including acquisitions, redevelopments, and new property management contracts.
• Build relationships with key stakeholders, including investors, community leaders, and government agencies, to support the organization's mission and strategic objectives.
• Support marketing and branding efforts to position the property management division as a leader in affordable housing and community development.

11. Issue Resolution & Escalation

• Identify and address operational challenges proactively, providing timely updates and recommendations to the SVP of 360 Management Group.

12. Other Duties

• Perform all other duties as assigned by the Senior Vice President (SVP).

Requirements:

KNOWLEDGE, SKILLS, ABILITIES:

• Knowledge of Connecticut Tenant\Landlord law.
• Proven ability to develop and work within property-level budgets.
• Knowledge of HUD regulations related to occupancy management.
• Knowledge of Low-Income Housing Tax Credit, Low Income Public Housing, Housing Choice Voucher and Rental Assistance Demonstration regulations.
• Knowledge property management key performance indicators and industry standards.
• Knowledge of data review and analysis.
• Strong verbal and written skills.
• Bilingual in Spanish and English, preferred but not mandatory.
• Sophisticated knowledge of Microsoft Office Suite with demonstrable proficiency in Excel and Microsoft Project Management.
• Ability to obtain a Certified Associate in Project Management (CAPM)® or equivalent credential within one year from the date of hire.
• Experience in conducting tenant grievance hearings.
• Understanding of public procurement laws.
• Excellent organizational skills and ability to analyze complex situations and develop solutions timely.
• Strong computer skills, including but not limited to use of spreadsheets, purchase order and work order systems, public housing authority software and/or real estate financial management systems.
• Ability to communicate effectively, both orally and in writing, including preparing technical.

PHYSICAL DEMANDS AND WORK ENVIRONMENT:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.

• Must be able to remain at a desk for a period of up to 8 hours.
• Regularly work a 35-hour workweek.
• Fast-paced working environment.
• Travel between locations required.

EDUCATION AND EXPERIENCE:

• Master’s degree in related field (Business Administration, Real Estate or Public Administration) strongly preferred with a minimum of 7-10 years’ experience managing affordable and low-income housing tax credit (LIHTC) programs required.
• C3P Tax Credit Certification and Tax Credit Specialist Certification (TCS) required; Certified Property Manager strongly preferred.
• Proven experience managing, developing, and retaining high performing team members.
• Thorough knowledge of management principles, practices, and procedures, including landlord/tenant practices and laws.
• Proven track record of success in management of affordable and subsidized multifamily rental properties.
• Strong experience in project management and budgeting.