Property manager h1.location_city

Regional Property Manager
Overall Functions
The Regional Manager is responsible for assisting Management in a given portfolio of properties in a given area. This person is focused on the support of the Region with the Regional Vice President/President. In addition, has specific training and experience to provide guidance on operating issues to those managers, and acting in place as a Property Manager if there is an absence at a property as requested by the Regional Manager/President.

Essential Functions Weekly
• Weekly Report: Review weekly report provided by on-site Property Manager. Review previous week’s leasing, closing and renewals with each Property Manager and ensure 50% make ready and NO vacant apartments not rent ready over 30 days vacant. Review availability to determine pricing or marketing needs. Suggested reports:
o Yardi Boxscore summary
o Yardi Delinquency report
o Weekly Delinquency report with additional comments provided by PM
o And/or weekly trend report
• Renewals: Review renewal worksheets sent from each community on a weekly basis. Ensure property guidelines are met with recertification requirements. In additional review renewal worksheet from Yardi to determine strategic plan on any month with higher potential exposure higher than 10%.
• Timesheets: Review on a bi-weekly basis and forward to Accounting. Manage overtime and make sure the overtime request form has been filled out with any person listed with OT. ADP –Approve time in EZ Labor. Regional Manager will go into ADP to approve payroll, OT, commissions (if applicable). OT must be approved in advance
• Property Visits – based on calendar provided monthly/quarterly
• Establish routine Property Manager Call. Provide agenda and back up to the AVM office. Management may join calls periodically, please include to monthly calendar. Minutes to be prepared and sent following meeting.
o Items suggested in discussion – weekly goals, delinquency improvement, open positions, Compliance requirements needed/Resident Services calendar
• Write-offs: Should be received, approved and submitted to accounting monthly. See write off policy.
• Weekly updates provided on Priority properties: Debt conversion, Cash flow issues.
o Items to discuss:
 Occupancy, Traffic update, Move ins scheduled, Leasing update, expenditure update, etc.
Monthly
• Calendar: Prior to the start of each month, distribute a monthly calendar to each community showing all required reporting due dates, meetings and events.
• Variance Reports/Market Survey: Review for each community on a monthly basis. Note variances and follow up with the Property Manager on corrective measures.
• Renewals: Review Yardi report sent from each community & approves Compliance requirements regarding each re-cert.
• Final Account Statements (Deposit Accounting) – Confirm this is done in the time requirements to refund Security Deposits.
• Leasing Commissions: Review leasing commissions on a monthly basis. Commissions – use copy of the lease, ledger, and score card and concessions addendum. *See attached recommended items to review prior to approving payment of commissions.
• Delinquency: Review each community’s delinquency weekly and provide the 20th report no later than the 20th of each month confirm accuracy in Yardi. Carefully, review prepaid balances. Review collections with applicable Collection Agency and confirm that accounts have been turned over by the end of each month. (Reviewing statement is acceptable)
• Quarterly Inspections: Complete periodic inspections for each community. Also review leasing and closing ratios with Manager.
o Pull three recently completed lease files and check for completeness.
o Confirm compliance requirements are met. Review Compliance binder during inspection and last compliance audit.
o Review Utility allowance update (quarterly)
o Review Work Order Status (Pending Work Order in Yardi).
o Review lease renewals/recertification’s and determine expiration goals and limits by month
o Review weekly meeting agenda’s
o Discuss outcome of the monthly marketing meeting and status.
o Review outside marketing log and discuss marketing efforts.

*****Monthly site visits are not required however recommended. Quarterly Property Evaluations are required.

• Market Survey Reports: Review market reports to understand trends in market (may be every six months).
Quarterly
• Confirm utility allowance update for each property.
• Manager’s Meeting: Hold a quarterly in person manager’s meeting. Discuss goals for each community, status of projects, personnel changes. Provide copy of agenda to Stephanie
• Confirm information in Yardi for accuracy as required for Compliance quarterly reports.

Annually
• Budget Preparation: Participate in budget preparation for each community.
o Provide any items needs/requested for upcoming year.
o Make recommendations as to any utility increase proposed.
o Payroll recommendations/salary adjustments
On-going
• Interview: Constantly review management candidates. Maintain a list of potential employees.
• Employee Reviews: Coach Property Managers on how to review employees.

Regional Managers are responsible for the management of a portfolio of communities. This person is focused on the day to day Compliance and Operations of each community, ensuring that it is properly staffed and managed. This person is responsible for the oversight of each property applicable compliance in accordance with the lender requirements. Responsibilities include:

• Meeting budgeted income, expense and leasing goals for the portfolio.
• Shop competitors in person every quarter with the Property Manager.
• Hiring and supervising Property Managers.
• Conducting quarterly meetings with Property Managers to keep them apprised of current issues. Encourage team meetings.
• Assisting each Property Manager in the development of marketing plans as needed and conducting marketing reviews on a periodic basis.
• Oversight of the expenses on a monthly/on going basis.
• Ensuring that all staff members provide the highest level of service to residents.
• Ensuring compliance by auditing and approving all new move-ins and recertification’s at renewal for all LIHTC Section 42 properties.
• Quarterly follow up to ensure the appropriate utility allowances are used at each respective location