Regional Manager (Market Rate)
Bethesda, MD Property Management
Job Type
Full-time
Description

 

Fairstead is a vertically integrated real estate company specializing in affordable and mixed-income housing. Since 2014, Fairstead has acquired and/or developed more than $4 Billion of multifamily property across the country, and today owns a portfolio of 16,500 apartments in 18 states. The company’s comprehensive platform provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design and construction, energy and sustainability, property management and social services. 


Fairstead’s primary mission is to provide high quality housing to all regardless of income, and to make our stakeholders feel “Right at Home.” We accomplish this through an empathetic and innovative approach, and by utilizing our interdisciplinary platform as an investor, developer, owner, and operator. Fairstead provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design, construction, energy, sustainability, property management and social services. With a long-term commitment to its residents, communities, and partners, the Fairstead team stands out by:

  • Listening to and understanding the needs of its residents, communities, partners, and stakeholders alike
  • Developing and preserving high quality affordable housing in an innovative and sustainable fashion
  • Creating a positive social and environmental impact within the properties and communities it serves

Fairstead’s Core Values

  • Empathy
  • Innovation
  • Entrepreneurship
  • Determination
  • Integrity

Position Description:

 

The Regional Manager, Market Rate oversees the day-to-day operations of the Market Rate Portfolio. The Regional Manager, Market Rate implements policies, procedures and best practices to enable each property to meet financial goals, achieve operational performance targets and to ensure all customer service objectives are achieved. At the direction of the VP, Operations, the Regional Manager, Market Rate is directly responsible for the following:

  • Complete oversight of all real estate property management functions including managing the day-to-day administrative and maintenance operations
  • Partner with the Director of Leasing to create and implement leasing and marketing plans and resident relation strategy
  • Implementing programs, initiative and strategy to promote the optimum performance of the portfolio
  • Responsible for budget preparation and financial reporting
  • Hire and supervise all site staff, including initial screening and interviewing for all administrative staff, building superintendents, and leasing staff where appropriate. Parts of the process may be delegated to the appropriately trained site property managers where applicable and with validation that required training and skills are in place
  • Develop hospitality training program for all site teams within portfolio to deliver best in class customer service to residents
  • Collaborate with teams to identify KPI’s for portfolio performance
  • Responsible for income optimization and recommendations for ancillary income opportunities including storage, on-site parking garage, pet services, valet and other ancillary services
  • Prepares monthly variance analysis reports (Financial Overviews) for submission to CFO
  • Conducts monthly budget review to ensure sites are meeting NOI
  • Ensures that all resident complaints are handled expeditiously, diplomatically, and professionally
  • Supervises the appropriate building security measures, incident documentation, lease violation reports and proper notification of management, owner and/or insurance carriers where necessary
  • Develops, implements, and assures continued implementation of preventive maintenance programs.
  • Ensures that maximum economic rents are achieved through the active rent level management, general and targeted outreach methods, assurance of leasing skills, and resident retention programs
  • Coordinates with staff & 3rd party contractors to ensure all work orders are closed out with signatures and photos for all work
  • Oversees RFP process for strategic maintenance contracts to leverage pricing for sites in the portfolio
  • Maintain 5-year capital plan, identifying needed capital improvements for any maintenance or value add projects
Requirements
  • Bachelor’s Degree
  • 2 – 5+ years’ experience as a Regional Property Manager or equivalent
  • Proficient in YARDI
  • Exceptional communication, customer service, and organizational skills
  • Ability to diffuse difficult situations
  • Knowledge of the local residential market
  • Proficient in Microsoft Word and Excel
  • Ability to manage multiple priorities while demonstrating the initiative to produce results and resolve problems
  • Must be willing to travel (50%)