Under the direction of the Senior Vice President, the Vice President - Property Management (VPPM) leads and is accountable for all aspects of the assigned portfolio’s business results. Serving as a critical link between the overall business strategy and day-to-day field operations, the VPPM guides execution that is aligned with the enterprise and is appropriately tailored to the portfolio, and partners closely with Investments on a shared ownership of portfolio strategy and financial performance. The VPPM will align multiple departments in a collaborative effort to maximize the potential of the real estate assets and field employees, including oversight of financial performance; employee recruitment, retention, engagement, and performance management; pricing; property maintenance; marketing and leasing; resident satisfaction metrics; acquisitions/disposition/development due diligence; and the rehab and repositioning of assets. The VPPM will guide, support, and contribute to company-wide programs and initiatives by integrating corporate and property management resources to remove obstacles and deliver results; communicating the “why” in order to lead change and deliver results; adapting company initiatives within the scope of the program to meet the needs of the region; and identifying and initiating change within the region. Additionally, the VPPM will represent Equity to industry groups and the investment community.
As a Vice President - Property Management (VPPM), your days will be full, fast-paced, and challenging. You will monitor a wide array of performance metrics, implement strategies to meet operational and leasing goals, analyze and respond to changing market conditions, and identify areas for improvement. You will direct operational, sales, and maintenance initiatives throughout your portfolio, exemplifying Equity Residential’s brand each and every day by thinking like an owner and ensuring that your team members have the resources they need to be successful and to deliver on our resident commitments. You will also leverage your strengths in relationship building on a daily basis, partnering with colleagues across all levels and departments of the organization (Facilities, Investments, HR, Capital/Renovation, etc.) with the shared goal of maximizing the potential of asset performance and the performance of property employees in your region.
WHO YOU ARE
- A Leader. You build effective teams and provide direction to help those teams achieve goals and operate cooperatively and cohesively.
- Strong Communicator. You are articulate, effective, and persuasive in your verbal and written communication, helping you connect well with others.
- A Talent Owner. You will use a variety of approaches to help others develop their capabilities.
- Savvy Operator. You understand the business and use good judgment to guide it.
- Organized and Accountable. You have exceptional management abilities and are able to juggle the needs of changing priorities at your communities while accomplishing objectives through motivating a high-performing team.
- Creative. You are an idea person and like coming up with smart solutions and new challenges.
- Levelheaded. You keep your cool during stressful situations and quickly find solutions.
- Flexible and Adaptable. You understand that the world does not exist through black and white lenses and embrace opportunity to live in the gray.
- Confident and Decisive. You take initiative, trust your gut, and are not afraid to make decisions or deliver a difficult message.
- Motivated. You invest extra energy to reach your goals and help your teams reach theirs.
- Solution-Oriented. You follow through on commitments, letting your teams and residents know that they matter.
WHAT YOU’LL DO
- Ensure proper business strategies are developed and executed to maximize growth and profitability of assigned geographic portfolio (typically 25-40 communities, 10,000+ units).
- In collaboration with other support departments, develop and direct the strategic and tactical activities of the portfolio consistent with the established company direction and provide resources to achieve goals.
- Provide leadership and direction to a team of Regional Managers, who manage assigned properties across one or more geographic locations. Motivate team through positive recognition and strong leadership. Ensure recruitment and human resource strategies are executed to attract, retain, engage, reward, and recognize employees.
- Implement company-wide initiatives by marshalling resources within the portfolio to remove obstacles and deliver results, communicating the “why” in order to lead change effectively, and adapting company initiatives within the scope of the program to meet regional or property-specific needs.
- Monitor performance of portfolio, people, and functional groups. Analyze financial statements and property metrics to assess portfolio performance and drive business results.
- Play a key role at regional meetings/conferences, presenting information such as company goals, regional results, and employee recognition to all levels of employees.
- Act as a liaison with support departments in the implementation of programs and processes relative to the property management organization; serve as a liaison between the Regional Managers and senior management.
- In partnership with the Business Analyst, conduct monthly financial reviews of individual properties to ensure operating budgets and performance are in line with market conditions and objectives. Ensure compliance with changes and action plans.
- Perform inspections of communities within the portfolio to ensure proper curb appeal, leasing and maintenance operations, delivery of our brand promise to residents, and professionalism of team members. Work closely with Regional Managers concerning property, resident or personnel issues.
- Perform essential management function duties such as hiring, training, coaching, succession management, performance management, salary administration, career development, disciplinary counseling, and termination of subordinates. Maintain an open-door policy to address employee issues and concerns.
- Collaborate with Investments Officers on property performance issues and/or capital needs to maximize the performance of the real estate.
- Lead the property management role in the due diligence process and actively participates in the financial underwriting. Ensure a smooth transition during the management of property dispositions or acquisitions within assigned portfolio.
- Collaborate with the Revenue Department to review and implement marketing, advertising, and pricing strategies.
- Teach and model good real estate and people judgment.
- Maintain an active presence in the industry and remain informed of industry trends.
- Represent the company in a professional manner at all times. Consistently maintain a professional, courteous attitude when dealing with residents, subordinates, coworkers, and the general public.
- Minimum of 8-10 years of progressive real estate portfolio management experience with a proven track record of financial results and leadership
- Must be knowledgeable about industry regulations, trends, and practices
- Top-notch communication skills, including excellent writing, presenting, and public speaking abilities
- Demonstrated leadership abilities with direct reports (Regional Managers), community teams and peers, with exceptional personnel management skills
- Solid track record of employee development and engagement
- Proven performer with a reputation for results and attention to detail
- Advanced computer skills with Internet and email capabilities; proficiency with property management software (MRI, Yardi, OneSite, Ops Technology, Building Link, etc.), Google applications (Gmail, Calendar, Drive, Sheets, Slides), and MS Office (Word, Excel, PowerPoint)
- Must be tech-savvy, forward-thinking, and resourceful in terms of navigating online management and pricing systems and conducting industry research
- Availability for travel required
- BA/BS degree strongly preferred
- Relevant industry designation (CAM, CPM, etc.) and active involvement with industry associations (NAA, IREM, etc.) a plus
- Conventional, high-rise, and mixed-use (retail) experience highly desired
We recognize everyone has different needs outside of work. That’s why, in addition to a competitive benefits package (medical, dental, vision and paid time off), we offer many unique options to employees, like adoption benefits and paid time off for community service projects. To learn more, view our Total Wellbeing page here:
- Portfolio Management
- Property Management
7+ to 10 years
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