The Commercial/Condo Portfolio Manager is responsible for the operations of a portfolio of commercial spaces and condo associations located within Bellwether owned affordable multi-family properties. Portfolio Managers are expected to manage their properties in compliance with fair housing and landlord/tenant laws, maintain high standards of customer service to residents and commercial tenants, and ensure that properties are in compliance with all applicable funding requirements. Portfolio Managers are also expected to participate as members of the Property Management Leaders Team, contributing to the development of property management and maintenance policies and procedures, and be a transparent, strong communicator who conveys compassion and interacts with humility.
Bellwether properties vary in size from 9 units up to 164 units with 750 units in the development pipeline in the next 5 years. Most are funded through the IRS Section 42 tax credit program, City of Seattle grants, and some have HUD Section 8 contracts or project-based units. All properties are income-restricted and require annual compliance reporting. Units are set aside for households with annual incomes between 30% to 80% of area median (AMI), with the majority between 50% to 60% AMI. Approximately one-third of Bellwether households have either Housing Choice Vouchers or occupy HUD Section 8 properties or project-based units.
Provide commercial property management:
• Manage relationship with brokers to list vacant commercial space, adjusting marketing and listings as necessary to generate interest.
• Review LOI’s and conduct reviews of business plans and financials to ensure financial solvency of proposed tenant.
• Negotiate lease terms and draft the leases.
• Administer lease terms for all tenants, including notifications of upcoming lease termination dates and collection of insurance documents.
• Establish CAM charges for each building and oversee the billing of CAM and annual reconciliation, with assistance from accounting staff.
• Manage commercial leases, maintaining excellent communication with tenants and enforcing lease terms.
• Work with Asset Management on property tax appeals
Provide condo management:
• Provide property management support to condominium associations.
• Understand condo bylaws,
• Coordinate regular meetings
• Prepare budgets and review condo billings for accuracy
• Manage capital projects for work
• and maintain excellent communications with other condo owners and tenants.
Develop property budgets and manage properties to ensure budgeted financial performance:
• Draft annual operating budgets.
• Implement rent increases necessary to generate sufficient operating revenue, and to fund building replacement reserves.
• Manage marketing and leasing processes to maximize rental income. Develop and oversee implementation of marketing plans to maximize occupancy and ensure new buildings are leased up quickly.
• Manage building expenses efficiently and effectively to minimize negative budget variances, working with Finance to provide prompt explanations of significant budget variances to the Director of Property Management.
• Prepare quarterly financial performance and management reports to building investors, owners (including Bellwether Housing wholly-owned buildings), and lenders.
Ensure that Bellwether properties are maintained to high standards:
Oversee the unit turnover process to ensure that units are ready for new resident move-ins, and that their condition meets Bellwether standards.
• Ensure the identification, completion, and tracking of preventive maintenance actions to keep buildings in excellent condition.
• Research, qualify, and contract with vendors and other service providers for maintenance projects or other building improvements beyond the scope of Bellwether Maintenance staff; manage contracted services to completion.
• Collaborate with the Maintenance Department to plan and implement capital projects, and propose projects annually at budget time based upon building CNAs, energy-efficiency audits, and building inspections. Following budget approval, meet with facilities and maintenance staff to plan implementation, and serve as project manager for projects as agreed.
• Respond, as needed, to after-hours emergencies, helping to contact resources and providing support and guidance to staff.
• Apply proven green and sustainable operating practices, participating in actions to reduce environmental impacts and promote healthy living and work environments.
Ensure excellent customer service to residents:
• Ensure that lease and house rules are applied fairly across the portfolio, and that all residents live in an environment free from discrimination.
• Ensure that all resident concerns and complaints are handled promptly and in accordance with Bellwether’s grievance process.
• Encourage Site Mangers to actively engage in community building activities in properties.
• Monitor resident satisfaction through responses to move-in and annual resident surveys.
• Ensure that building and maintenance staff together manage the work order process in order to promptly address maintenance requests.
• Provide oversight of resident accounts in eSite to ensure that residents are billed accurately, account balances are accurate and accounts are reconciled monthly.
Ensure that properties are operated in compliance with applicable laws, and in compliance with funder requirements:
• Monitor building operations for compliance with established Bellwether policies and procedures, fair housing laws, and landlord/tenant regulations.
• Understand basic ownership structure of each building and the related compliance issues surrounding tax credits and/or bond financing.
• Understand the process of resident “recertification” as required by tax credit, project-based Section 8, HUD project-based and other financing.
• Ensure the completion of annual certifications. Work with the Compliance Manager to resolve issues and obtain annual recertifications and funder reports completed accurately and by the due dates.
Participate as Property Management Leader and collaborate with other Bellwether departments
• Contribute and participate as a team member with Property Management Leaders to troubleshoot problems as they arise and suggest/initiate procedural changes as needed.
• Participate in Property Management Leaders weekly meetings and monthly PM team meetings.
• Share responsibility for implementing quarterly Property Management Department Training Conferences (PMTC), sharing knowledge and helping train department staff.
• Collaborate with the Development and Property Management departments during the planning and design of new projects, including design review with architects and development team to represent building operating perspectives.
• Represent Bellwether in a local association or stakeholder group, reporting back to the PM leaders on concerns and initiatives.
Self and Team Development:
• Embody Bellwether values of respect, integrity, community and excellence in your work. Promote a culture of trust, mutual support and accountability.
• Collaborate with Director of Property Management to develop and implement annual diversity, equity, and inclusion (DEI) work plans for the department that further Bellwether’s DEI efforts; champion and cultivate an inclusive work environment.
• Maintain confidentiality of applicant and resident information.
• Work together with all Bellwether coworkers to learn effectively from and with each other, and to incorporate the lessons learned.
• Attend trainings and meetings as directed.
• Undertake other duties as assigned.
• BA Degree (years of experience may be substituted for education)
• Minimum of 4 years’ successful experience as a residential Property or Portfolio Manager, responsible for a portfolio of affordable housing properties
• Conversant in local, state and federal fair housing and landlord/tenant laws
• Excellent English written and verbal communication skills. Ability to communicate clearly and concisely, both orally and in writing.
• Highly organized and strong attention to detail, capable of taking personal initiative in a project as needed, making sure all work is completed and of high quality.
• Ability to exercise discretion and confidentiality at all times.
• Exceptional customer service aptitude, including problem-solving skills and the ability to respond quickly and tactfully to customer requests.
• Strong HUD Section 8 and Tax Credit knowledge and experience
• Strong budgeting and property accounting experience
• Experience investigating resident grievances and alleged civil rights violations
• Strong analytical and problem-solving skills
• Collaborative leadership style and effective team builder
• Proficient in Microsoft Office applications, specifically Excel, Word, and Outlook.
• Proficiency with property management systems such as Yardi
• Hold a real estate broker’s license in Washington state
• Commercial property management experience
• CPM or equivalent certification.
• C3P, COS certification, or equivalent certification.
• Project management skills.
• Familiarity with Sound Families, HOPWA, and service enriched housing programs.
• Familiarity with Seattle Housing Authority Project Based and Tenant Based voucher programs
Other Position Requirements:
• Candidates selected for this position must pass a criminal history background check prior to employment with Bellwether Housing.
• A personal vehicle is a requirement of this position. If using a personal or company-owned vehicle in the performance of job duties, the incumbent must possess and maintain a valid Washington State driver’s license, the appropriate amount of automobile insurance, and a safe driving record.
Hours: 40 hours per week, flexible work schedule.
Compensation: $95,000 to $107,000 per year DOE, benefits
Benefits: Bellwether Housing provides 24 days of PTO and 11 paid holidays in the first year of employment for all employees working over 20 hours per week. We have a 403(b)-retirement plan with immediate eligibility for employee contributions and employer matching after 15 months of service; three medical plans to choose from, one with an employer funded HSA; dental; vision; flexible spending accounts, disability (short- and long-term); employer paid life insurance; and commuter benefits.
Bellwether Housing is an equal opportunity employer. We value diversity, including the diversity of thought and experience. We are committed to building an open and inclusive culture for all employees. We consider all applicants without regard to education, race, ethnicity, national origin, religion, gender, gender identity, sexual orientation, age, skills, and level of experience. All interested candidates are encouraged to apply.