*The primary location for this position will be in MAA's Corporate Headquarters in Memphis, TN or one of MAA's Regional Offices in Nashville, TN; Charlotte, NC; Raleigh, NC; Jacksonville, FL; Atlanta, GA; Dallas, TX. *
Job Summary
The Vice President of Lease-Up Operations reports to the EVP of Multifamily Investing and directs and supports the lease-up responsibilities on all in-house developments, pre-purchase (joint venture) developments, and non-stabilized acquisitions. Primary responsibilities include developing and implementing leasing strategies for each property to maximize value, directing the onsite teams to effectively execute on that strategy while operating as a liaison between the Transactions and Development departments and other internal and external parties with regard to all lease-up activities.
The successful candidate will embody and work to reinforce MAA's Core Values. Those values include:
Appreciating the uniqueness of each individual
Communicating openly and with integrity
Embracing opportunities
Doing the right thing at the right time for the right reasons
Duties and Responsibilities
Participates in the process to determine the identity of a new development and helps determine the property's proper position within the competitive landscape.Plays a prominent role in setting the marketing and pricing strategy for a new property and overseeing the implementation of that strategy through coordination with marketing and revenue management.
Coordinates the property pre-opening process for new developments.
For lease-up properties, hosts weekly calls with onsite management to track and address performance, including asset management stakeholders as needed (e.g., pricing, marketing, landscaping, maintenance).
Oversees all aspects of personnel on assigned lease-up properties, including hiring and training, coaching, and counseling.Develops property staff by ensuring that only the highest caliber personnel are recruited, selected and hired to represent the company. Provides one-on-one coaching, guidance, and mentoring to property leadership. Ensures that all personnel receive appropriate training.Delegates responsibility and authority as appropriate to facilitate staff development.
Supports onsite management with resolving resident issues, administering and negotiating resident lease renewals, monitoring maintenance/work order functions, and establishing a list of vendors to work for the property.
Regularly audits all assigned properties to ensure presentation of the highest quality image possible. Audits by physically walking the property and observing/inspecting any problem area, examining administrative procedures, and ensuring adherence to all company policies, applicable laws and compliance areas. Proactively identifies potential problems early and takes preventive and corrective action.
Assists the Transactions and Development departments with due diligence and budgeting for all non-stabilized acquisitions and developments.
Working alongside development partners and third-party management companies, establishes leasing parameters and screening policies for pre-purchase (joint venture or JV) developments with the assistance of other asset management departments as needed.
Consistently tracks property performance against pro forma and reports progress monthly.Identifies and addresses action items to manage performance.
Prepares annual operating budget and forecasts with feedback from other asset management departments. Using the pro forma as the basis, makes adjustments based on the current delivery schedule and property performance as well as the following year expectations.
Coordinates and supports the transition of each property at stabilization to division property management.
Travels frequently (approximately 40%) for site visits, stakeholder meetings and company events to support a geographically distributed portfolio of lease-up properties.
Perform other related duties as assigned to meet the needs of the business.
Required Qualifications
Bachelor's degree and 10-15 years of experience in property management or a related field required. An equivalent combination of education and experience may be considered.
Profit and loss (P&L) management experience required.
Direct experience managing or overseeing a lease-up or development property and staff required.
Valid driver's license from the state of residence required
Preferred Qualifications
Knowledge, Skills, and Abilities
Knowledge of real estate acquisition business practices and principles
Knowledge of lease-up property management operations and best practices
Business and financial acumen to manage and control budgets and expenses for assigned portfolio, including budgeting, analysis and forecasting
Critical thinking and problem solving skills with which to draw conclusions from diverse facts
Knowledge of all applicable laws and regulations relevant to employment law and landlord-tenant laws
Knowledge and skill to adopt, apply and ensure adherence to standard operating procedures
Working knowledge of landscaping, mechanical maintenance issues, and capital project planning and execution
Skill and ability to clearly and concisely communicate verbally and in writing, including executive presence to deliver proposals to senior and executive management
Strategic leadership and tactical management skills to select, develop, coach and direct the performance of others
General proficiency with Microsoft Office applications (Word, Excel, Outlook and PowerPoint)
Ability to operate a personal motor vehicle to travel within an assigned geographic region; ability to travel overnight by air on company business.
MAA recognizes that talented people are attracted to companies that provide competitive pay, comprehensive benefits and outstanding advancement opportunities. We offer a comprehensive benefits package* including, but not limited to, the following:
* Medical, Dental and Vision Insurance
* Life and Disability Insurance
* Employee Assistance Program
* Vacation, Sick Leave, and Holiday Pay
* 401(k) Retirement Plan
* Tuition Reimbursement
* Adoption Reimbursement
* Apartment Discount
* Opportunities for promotion and internal career advancement
*Eligibility for benefit plans and programs vary based on hours worked and length of employment.
We are committed to providing service excellence and value to those who depend on us at MAA. Our people-first approach has been transforming properties into communities and apartments into homes for over 25 years. As the largest owner-operator of multifamily apartments in the United States - we are established leaders in the real estate space - bringing tremendous opportunities to those looking to build their careers. We invite you to explore our Brighter View and find your place at MAA!
EOE M/F/V/D
Drug Free Workplace
