Vice President, Property & Asset Management

Full time
Locationlacounty Calendar10/25/2021   Full time

POSITION DESCRIPTION

Title: Vice President, Property & Asset Management

Organization: Abode Communities

Reports to: Executive Vice President & COO

Direct Reports: Director of Compliance, Director of Facilities, Assistant Director of Asset Management and three to four Property Supervisors

Employee Count: 100

Location: Los Angeles, CA

Website: https://abodecommunities.org/

 

THE ORGANIZATION

Abode Communities is a nonprofit social enterprise that has been rooted in community development throughout the State of California since 1968. More than an affordable housing provider, our work fosters a culture of housing inclusion by integrating families and individuals with neighborhoods so communities at-large can thrive.

  

EQUAL OPPORTUNITY POLICY 

Abode Communities embraces equal opportunity and diversity is a core value. We define diversity as “Fostering an organizational culture of inclusion, where different experiences and perspectives of those we serve and those with whom we work are respected and valued.” Abode Communities fosters a work environment that is free of discrimination and harassment, whether based on race, national origin, gender, gender expression, religion, ethnic background, age, disability, marital status, sexual orientation, or any other criterion prohibited by applicable federal, state, or local laws. We seek to recruit, develop, and retain talented people from diverse candidate pools. Applications from traditionally underrepresented communities are encouraged.

 

MISSION
Our mission is to create service-enhanced affordable housing and socially beneficial community facilities that promote the social, economic and physical transformation of underserved communities.

 

VISION
At Abode Communities, our vision is for a California filled with vibrant communities that strengthen neighborhoods, enhance livelihoods, respond to the environment, and connect people and places. 

 

VALUES 

Collaboration

Harnessing the knowledge and expertise of each of our disciplines and forging enduring partnerships with residents and stakeholders to achieve the best collective results.

Diversity

Fostering an organizational culture of inclusion, where different experiences and perspectives of those we serve and those with whom we work are respected and valued.

Excellence

Challenging ourselves to attain the highest quality standard and level of performance in order to achieve the greatest impact.

Innovation

 Seeking opportunities to continuously adapt and improve our services and work product, while advancing the industry in practice and policy to expand our collective impact.

Integrity 

Fulfilling the mission by conducting business in an open, honest and transparent manner, and accepting responsibility for our individual and collective actions.

  

OUR SERVICE MODEL

Real Estate

Our mission is to create service-enhanced affordable housing and socially beneficial community facilities that promote the social, economic and physical transformation of underserved communities.

Architecture

At Abode Communities, we are deeply committed to achieving our clients’ visions by fostering a culture that promotes progressive thinking, design excellence, collaboration, innovation through sustainable design, and above all, superior client service.

Property Management

Abode Communities began professionally managing multifamily residential and mixed-use developments in 1998 in an effort to support long-term housing retention and improve the quality of life for low-income residents.

Property Management

Recognizing that low-income families and individuals are typically one single crisis event away from losing their housing or worse, becoming homeless, Abode Communities offers complimentary on-site resident (social) services.

 

POSITION SUMMARY

Abode Communities’ affordable housing portfolio consists of more than 40 properties with approximately 2,700 units which generates over $30 million in annual revenue.  Its pipeline includes another 900+ units in 11 projects either under construction or in predevelopment.  

Under the direction of the Executive Vice President and Chief Operating Officer, the Vice President, Property & Asset Management is an officer of the organization and oversees the property management and asset management functions which consist of approximately 100 employees. 

Responsibilities include overseeing the operations and management of the portfolio ensuring the properties’ physical and financial well-being, making sure the properties are in compliance with their legal and regulatory requirements.  Responsibilities also include overseeing the operations and management of the portfolio and ensuring that the properties are properly managed and maintained consistent with the financial, physical and social goals, standards and requirements of Abode Communities, third-party clients and regulatory agencies and funders. 

 

CORE COMPETENCIES OF OUR NEXT VP, PROPERTY & ASSET MANAGEMENT

Inherent to Abode Communities is our commitment to Racial Equity, Diversity, and Inclusion – what we call our “REDI” work. Research shows that creating an exhaustive list of required and preferred skills, knowledge, and abilities often becomes a structural barrier for diverse and underrepresented talent to even considering to apply for roles; much less to executive roles. We are embracing a different way of evaluating candidates by looking for indicators of the following core competencies during the recruitment process.

 

Leadership

  • Applies skills and knowledge to achieve department and organizational goals
  • Helps others perform at their best
  • Self-aware and open to feedback
  • Adds value and performs high quality work
  • Understands and supports organizational goals
  • Builds wide sphere of influence to enhance individual and organizational effectiveness

 

Strategic Planning

  • Understands and communicates strategic goals and plans to achieve them
  • Mobilizes resources to achieve shared strategic vision and goals
  • Aligns knowledge and people with program goals
  • Develops and implements metrics to measure results
  • Anticipates and solves problems

 

Managing People

  • Inspires and motivates employees to perform at their best
  • Communicates organization’s vision and team’s integral role in realizing that vision
  • Hires and develops staff to maximize productivity, innovation, and teamwork
  • Recognizes and rewards accomplishments
  • Delegates and assigns work based on skills, performance objectives, and development opportunities

 

Adapting & Responding to Change

  • Adapts to changing circumstances
  • Accepts new ideas and change initiatives
  • Adapts interpersonal style to suit different people or situations
  • Shows respect and sensitivity towards cultural and religious differences
  • Deals with ambiguity, making positive use of the opportunities it presents

 

Entrepreneurial & Commercial Thinking

  • Keeps up to date with market information and trends
  • Identifies opportunities for the organization
  • Demonstrates financial awareness
  • Controls costs and thinks in terms of profit, loss and added value

 

These core competencies aren’t always quantifiable, but here are some experiences and education that we believe correlate:

  • A Bachelor’s Degree, or cumulative years of experience in property and/or asset management enough for someone to have a deep understanding of the field
  • About 15 years of progressive property and asset management experience including Low-Income Housing Tax Credit (LIHTC) and Housing and Urban Development (HUD)
  • Seven years of experience in a management or supervisory position, preferably with a focus on affordable housing.
  • National compliance certification and State of California Department of Real Estate Brokers License (the broker’s license can be earned during the first year of employment with Abode Communities.)
  • Experiences working in a multi-faceted, matrixed, and complex organization where change management is embraced in service to social impact

 

ESSENTIAL DUTIES & ACCOUNTABILITIES: 

  • Oversee the operations and management of the organization's residential portfolio ensuring that the properties’ performance meet or exceed financial expectations, are physically well maintained at or above company standards, and comply with all regulatory requirements
  • Manage and direct the Property Management and Asset Management staff which includes hiring, supervising, coaching, and professional development
  • 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
  • Ensure that policies and procedures are in place and followed that promote and maintain positive relations with residents and community representatives
  • Oversee the preparation of the annual operating and capital improvement budgets and long-term management plans for all properties and ensure timely completion and submission financial reports to regulatory agencies, partners and investors
  • Maintain capital improvement plans and provide solutions to capital improvement needs through management of reserves, and securing soft funding through public sources, restructuring of existing debt, or seeking refinance opportunities
  • Develop and maintain portfolio-wide scan to identify and evaluate financial and physical needs of properties within Abode Communities’ existing portfolio. Problem solve property and portfolio level issues through research, analysis, and implementation
  • Oversee and manage tax credit investor buyout activities for all existing projects in the portfolio that are at the completion of the initial 15-year compliance period
  • Conduct physical, financial and operational due diligence of specific properties at or beyond 10 years of the initial occupancy and compliance period
  • Ensure that all properties are managed, leased and operated in compliance with all regulatory requirements; and ensure accurate, thorough and timely reporting to and promote and maintain positive relations with the California Tax Credit Allocation Committee (TCAC), the U.S. Department of Housing and Urban Development (HUD), Internal Revenue Service, and other funders, regulators, investors and partners

 

MEASURES OF FIRST YEAR SUCCESS:

Strategy & Operations

  • Define/Refine Property & Asset Management Objectives and Key Results and align to Abode Communities’ Strategic Plan
  • Develop a Property & Asset Management dashboard, helping stakeholders across the organization to proactively assess areas of risk while fortifying strength areas
  • Define/Refine Property Management Policies and Procedures ensuring that these standard business operating procedures are consistently carried out across each property
  • Support the development of our next strategic plan, the 2022 work plan, and the 2022 budget

 

Evaluation & Assessment

  • Assess the complete Abode Communities’ portfolio and pipeline
  • Develop a focused quality assurance and continuous process improvement process
  • Understand how property and asset management is deeply interwoven with our other functional divisions: Architecture, Development, and Resident Services

 

Team & Culture

  • Begin working closely with our Talent & Culture Division in recruiting and filling roles and developing professional development and career progression opportunities for all property management staff
  • Build a sense of “one team” by evaluating the capabilities of the Property Management supervisory staff across the division and make sure that the work of Property Management, Asset Management, and Compliance all blend seamlessly with each other
  • Working closely with our VP, Talent + Culture to bridge the divide between our corporate and site staff to further refine this concept of “one team”
  • Assess the team for efficiencies and redundancies and develop a plan to maximize the use of talent across the division

 

 

COMPENSATION:

The salary is commensurate with experience.  Benefits include: 

  • Health
  • Dental
  • Vision Insurance
  • Life, AD&D and Long-Term Disability Insurance
  • Voluntary Retirement Plan with Employment Match
  • Vacation and sick leave, and a 9/80 flexible schedule with alternating Fridays off

 

Los Angeles ranks as the second-largest city in the nation; its citizens hail from 140 countries and speak 86 different languages. In fact, Los Angeles is one of only two U.S. cities without a majority population.

 

The City of Los Angeles holds many distinctions. L.A. is the entertainment capital of the world, a cultural mecca boasting more than 100 museums, many of them world-class, and a paradise of idyllic weather. From tourist attractions like the Walk of Fame’s collection of stars (numbering more than 2,614 and growing by one or two a month) to career opportunities, Los Angeles is the place to be.

 

Candidate Inquiries

Abode Communities has retained BroadView Talent Partners to lead this search. “Interested and Qualified” candidates should contact:

 

Melania DaSilva Deaver  
Vice President, Senior Associate
120 Northwood Road, 2nd Floor

Fairfield, CT 06825
office 203.651.8300
melania@broadviewtalent.com

 

 

About BroadView Talent Partners

Executives in affordable housing, nonprofit, and middle market organizations retain BroadView Talent Partners to fill senior leadership team positions because they value our specialized knowledge and proven process for identifying executive talent using our unmatched national network, commitment to diversity, equity, and inclusion (DEI), and record of long-tenured placements.

 

This job was posted by SCANPH on behalf of BroadView Talent Partners.

Abode Communities has retained BroadView Talent Partners to lead this search. “Interested and Qualified” candidates should contact: Melania DaSilva Deaver Vice President, Senior Associate 120 Northwood Road, 2nd Floor Fairfield, CT 06825 office 203.651.8300 melania@broadviewtalent.com