Director of Asset Management

About Savarino Companies:

Savarino Companies is recognized as an industry leader in project development, property management, construction, and real estate asset management in Western New York. Our team manages the day-to-day operations of over 600 residential dwelling units and 750,000 SF of commercial space in more than a dozen properties throughout Western New York. The Savarino portfolio contains market rate, mixed-income, workforce, and full tax credit affordable housing properties. Savarino serves as property/asset manager for properties within its own portfolio as well as for third-party owners.

As a property/asset manager our differentiation in the market is that we are managers who care. To be accessible, responsive, and friendly is our mantra — and our way of enhancing tenant relationships and exceeding expectations. We do not just manage properties we create communities. Our property management professionals are tenant-focused and detail-oriented. We take pride in our ability to provide exceptional service to residents and commercial tenants every day.

About the position:

Savarino’s portfolio of real estate owned is growing. The company maintains a robust pipeline of mixed-use properties being developed, constructed, owned and coming under management of the company. These projects are predominantly multifamily, many with an affordable component subject to regulatory requirements. To meet the needs of the company’s growing portfolio of real estate owned, Savarino is seeking a Director of Asset Management that will report to the President and CEO and be an integral member of Savarino’s leadership team. The director will serve as the company’s lead subject matter expert and advisor for asset management and directly oversee the property operations department for the company’s owned assets. The director will maintain responsibility for all assigned assets and/or managed properties pursuant to the needs of the company, lenders, and investors. A successful director will assemble a team to lead performance management of property management operations and will use goal setting, action plans, and performance monitoring to improve service delivery, and regulatory compliance. The director will evaluate and improve tools for financial management, work methods, employee engagement, and resident engagement. The director will be an experienced leader in the fields of property management, facilities operations, or related industries. He/she will have demonstrated extensive team management experience in challenging public and/or private sectors.

The director will be an effective communicator and a results-driven problem solver who leads diverse management and technical teams. The Director of Asset Management must also have a strong background in commercial/retail, market-rate, and affordable housing property management, as well as demonstrated extensive capital project management experience.

Responsibilities:

  • Manage the operational aspects of the portfolio with an emphasis on financial performance and enhancing the residential and commercial service experience.
  • Serve as the senior leadership figure and oversee the Property Management team to ensure all on-site operations are meeting or exceeding financial performance expectations.
  • Develop, establish goals, and monitor portfolio performance of Property Managers and all on-site personnel.
  • Implement and manage programs to maximize revenue, control expenses, and improve resident experience and satisfaction.
  • Cultivate and maintain strong relationships with commercial tenants, partners, asset management, investors, lenders, and agencies that are highly engaged in the portfolio – manage expectations as a senior leadership figure.
  • Play a highly active role in due diligence efforts in collaboration with development, pre-construction, and construction management teams (in-house and partners) – which includes, but is not limited to underwriting model review/analysis, start-up analyses, physical assessment of an asset to be developed, etc.
  • Identify and manage capital projects, develop the scope of work, level contractor bids, and monitor/approve payment requisitions.
  • Set standards for apartment community maintenance and turnover and ensure established turn time and quality of turns are consistently achieved.
  • Source, review and level all portfolio vendor contracts (costs, scope compliance, etc.) And enforce the established approval thresholds.
  • Manage and ensure the physical condition of the property is maintained and contributes to the company’s and investors’ annual business goals.
  • Establish and enforce safety and inventory control procedures.
  • Ensure portfolio implementation and execution of appropriate risk mitigation procedures, including disaster and emergency response protocols.
  • Assist in the creation of annual operating and CAPEX budgets.
  • Closely monitor all property financials, especially on under-performing assets – collaborate with Asset Management to set performance standards, add-value and manage unforeseen variances. This includes, but is not limited to AR/AP management, cash flow analyses, and operating/replacement reserve targets.
  • Hire and develop key leaders/managers within the portfolio; assist in management of portfolio maintenance personnel including onboarding, regular training, performance evaluations, and goal setting, associate training/development and disciplinary actions; make decisions or recommendations regarding hiring and termination.
  • Ensure portfolio compliance with all federal, state, and local laws (building, business/labor law, and affordable housing regulatory compliance).
  • Strategize, brainstorm, and execute corporate-level initiatives – including sops to maximize the efficiency, accountability, and performance of all associates and the overall performance of Savarino.
  • Closely monitor/oversee all agency-specific inspections and annual compliance functions.

Minimum Education Requirements:

  • Bachelor’s degree required.
  • Master’s in Business Administration preferred.
  • Preferred Certifications: OSHA, LSWP, RRP and/or EPA, Assisted Housing Manager (AHM), CCAM, LIHTC, ARM, RAM and/or CPM designations.

Minimum Years of Experience Required:

  • 8+ years of progressive experience across a variety of asset classes in the Property Management industry with at least 5 years serving in various leadership capacities at the site, regional, and Director-levels.

Additional Knowledge, Skills, and Abilities:

  • Strong computer skills, including MS Office products (Word, Excel, PPT, Publisher, etc.).
  • Familiarity with realpage onesite, Yardi, sitecompli, and various PHA portals.
  • Demonstrated experience and proven track record in managing large, single & multi-development residential assets (250+ units), as well as demonstrated experience in managing the associates and operations of a scattered site/regional portfolio.
  • Strong understanding and experience in affordable housing, including – but not limited to Mitchell-Lama requirements, Public Housing Authority requirements (HPD, HDC, HCR, CGI), and affordable.
  • Proven experience engaging and working with diverse portfolios, such as Low-Income Housing Tax Credits (LIHTC), Project Based (PBV), or Enhance Vouchers (EV).
  • DIRECTOR will set clear and measurable expectations, creating synergies, enhance efficiencies, and establishment of high-level operational solutions.
  • Demonstrated experience and successful track record in managing Property and Asset Management teams.
  • Strategic Communicator with a proven ability to communicate clearly, both written and verbal, while maintaining an acute discernment of audience.
  • Experience engaging with a wide variety of stakeholders, including from community residents, governmental staff, small business owners, advocacy groups, etc.
  • Housing leasing operations.
  • Strong understanding of local housing court law.