General Statement of Duties: The Vice President of Transition is a results-driven leader responsible for achieving satisfactory financial performance goals and maintaining the physical condition and marketability of newly acquired properties or properties in new construction/lease-up. Liaison with Home Office Management Committee members and appropriate Development Directors and Regional Vice President. Effectively develops and leads strong property management, compliance, leasing, maintenance and resident services teams to accomplish short and long-term objectives until the property reaches stabilization. Upon stabilization the property will transition back to the appropriate geographical Regional Vice President.
Supervision Received: Reports to the President, Beacon Residential Management.
Direct Reports: Property Managers, Senior Property Managers, Area Managers for lease-ups, acquisitions, and dispositions. Partners with the appropriate Regional Vice President, while having full responsibility for all aspects of the property through stabilization/transition.
Essential Functions of the Position: Any one position may not include all of the duties listed, nor do the listed examples include all duties that may be found in positions of this class.
- Plan and coordinate all aspects of property takeovers.
- Set up Beacon Acquisition Checklist for each new property at least 90 days prior to acquisition/lease-up.
- Create and sign off on, in conjunction with Senior Regional Vice President, the proforma ramp-up and stabilized budgets on all new assets coming into the portfolio.
- Coordinate weekly transition meetings; assign tasks to all departments, monitor and record progress from 90 days prior to take over to asset stabilization.
- Assist in coordination of construction related projects and monitor and facilitate progress.
- Establish and communicate timeline to transition each property from VP of Transition to appropriate Regional Vice President.
- At the time of stabilized operation, document items covered during transition time-period (construction, warranty information, rental rates, staffing, and compliance, etc.) and any other items as appropriate.
- Recruit, hire, evaluate, and train staff, and implement a stabilized staffing plan, working collaboratively with department heads and the appropriate Regional Vice President.
- Work with Asset Management to have an agreed upon a 5-year Asset Management plan for all new acquisitions, at time of stabilization.
- Guide Property Manager and review all first-year budgets to meet proforma and operating objectives.
- Communicate clearly and intelligently with multiple vendors, departments and financial agencies.
- Plan and coordinate exit strategy on properties when a property is sold, or management is terminated.
Responsible for achieving financial performance objectives and managing the portfolio’s financial operations following company and government agency rules, regulations and guidelines.
- Oversees preparation of annual operating budgets and performs budget projections for all properties. Analyzes actual income and expenses against approved budget guidelines, directs corrective action and requests appropriate budgetary adjustments.
- Ensures accurate and timely withdrawal of all reserve funds.
- Conducts financial results reviews with Property Managers, Assistant Property Managers, Area Managers, all site employees and Management Committee on a routine basis. Forecasts and identifies problems and takes corrective action.
- Reviews and approves annual bids for all contract services.
- Evaluates and monitors utility costs and energy conservation programs.
- Oversees preparation of rent increase packages and submissions.
- Ensures timely collection of resident and agency rents and/or subsidy payments. Implements appropriate collection practices.
- Prepares, reviews and maintains all data and information required by owners, investors, lenders and agencies for their region.
- Assesses and recommends changes to current policies and operational practices. Plans, develops and implements operating policies, procedures and organizational structure with Management Committee.
- Collaborates with Management Committee to set operational goals for each property and establishes company standards for property operations, sales and leasing, collections, customer service and workplace safety.
- Responsible for executing property start-up initiatives for newly developed and acquired properties in region.
- Enforces and adheres to company policies, rules and regulations.
- Preserves and respects resident and applicant confidentiality.
- Monitors and ensures program and regulatory compliance with the LIHTC and/or HUD program(s).
Represents Beacon Communities to the public and collaboratively develops a partnership with public officials, businesses and agencies.
- Acts as liaison to external parties and the Management Committee for all property-related emergencies.
Leads, manages, trains and develops a strong management team to drive the company’s growth.
- Determines staffing needs, creates new job descriptions and directs the hiring process.
- Manages, trains and develops Property Managers, Assistant Property Managers, and Maintenance Teams.
Oversees the physical condition and security of all communities within the portfolio.
- Maintains knowledge of the physical condition of all properties and REAC/inspection readiness.
- Conducts physical site inspections. Makes recommendations for exterior and interior apartment improvements.
- Oversees and negotiates capital improvements and contracts in conjunction with Senior Vice President of Operations.
- Oversees and reviews Security contracts and performance.
- Ensures program compliance: REAC, LIHTC, HUD, other agencies and lenders. Reviews Beacon’s Annual Inspection Report. Implements required corrective actions.
- Assists other Beacon properties outside the region as requested by the President, and the Senior Vice President of Operations.
- Establishes a good working relationship with Regional Maintenance Supervisors and supports their efforts to standardize and streamline processes and efficiencies.
Fosters a positive, active and collaborative relationship with residents and ensures residents are being serviced appropriately.
- Works with the Vice President of Resident Services to ensure regional RSC staff and programs are tailored to meet the needs of the communities.
- Troubleshoots and resolves complex resident and community issues.
Ensures all marketing initiatives are executed in accordance with the company’s marketing strategy and guidelines. Liaison with Vice President of Marketing.
- Executes marketing plan to reach owner approved occupancy and rental income targets.
- Oversees all lease renewal strategies and initiatives.
- Establishes rental rates with Property Managers, Assistant Property Managers, Area Managers and Vice President of Marketing.
Education: Bachelor’s Degree in business or related field, advanced degree and/or professional certification desired.
Experience: Minimum five years multi-state Regional Vice President property management experience including staff management and development, budgeting/ financial analysis. Multi-community, mixed income residential property management experience. CPM, C3P and COS certified.
Qualifications and Skills: Solid property management operational experience. Proven expertise in Project Based Section 8, Section 236, 13A, Low Income Housing Tax Credit Programs and HOME programs. Ability to manage projects from conceptualization to implementation. Strong interpersonal skills that include conflict management and employee motivation. Excellent analytical and problem- solving skills. Knowledge of Microsoft Word, Excel and Yardi. Excellent verbal and written communication skills. Entrepreneurial, flexible, creative and detail-oriented. Ability to handle emergency situations and pressure due to complexity and time sensitivity.
Extensive travel required. On call 24/7 for emergencies.
Beacon Core Competencies required for all positions:
Teamwork, Integrity/Ethics, Dependability, Customer Focus, Adaptability/Flexibility.
Beacon Management Competencies required for all Management positions:
Decision-Making/Judgement, Communication, Budgets/Cost Control, Managing for Results, People Development.
Vice President Functional Job Competencies required:
Job Knowledge, Organizational Savvy, Managing Diversity, Leadership.
Beacon Communities LLC seeks a diverse pool of candidates. We are committed to a policy of equal employment opportunity without regard to race, color, ancestry, national origin, religion, disability, gender, gender identity, sexual orientation, age, veteran status or other protected class.
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