Edgewood Properties, a leader in Real Estate development, seeking a Senior VP of Residential Operations.
Since its founding in 1992, Edgewood Properties has established itself as a leading real estate development, construction and property management company.
Based in New Jersey, the Company is on a course of growth leading to activities all across the nation.
Edgewood Properties was created and is owned and managed by real estate entrepreneurs who bring a hands-on approach to all projects it develops, leases and manages.
We're currently seeking a Senior Vice President of Residential Operations for our Residential Multi-Family portfolio.
This position will work out of our corporate headquarters in Piscataway, NJ.
As the head of Residential, SVP role will have leadership and oversight responsibility for a national portfolio comprised of approximately 6,000 apartment homes contained within a 20-property portfolio, and direction-setting for 4-5 Regional Property Managers. Position is responsible for the overall leadership and the effective and successful management of Edgewood Properties’ and its joint venture luxury and affordable portfolio. In addition, leading all phases of opening new multi-family rental communities; lead all initiatives as it relates to new development/lease-up activity of approximately 15,000 units in the pipeline. Be a market expert and familiar with all markets we operate in; currently we are in NJ and Florida. Assist in determining unit mixes, floor plans and amenity programming based on targeted demographic of our renter. Work closely with Ownership, Design, Construction, Maintenance and Marketing to manage all aspects of bringing a new community on line; includes setting rents, overseeing marketing and ensuring absorption and leasing goals are realistic and all targeted milestone dates are met.
The executive leadership position is strategic, financial and operational in nature and requires directing and leading the development and standardization of comprehensive business plans, programs, initiatives, and strategies that promote the achievement of superior operational, financial and business performance of the company.
The SVP of Residential will work closely with Ownership and report to the President/CEO of Edgewood Properties.
- Instill a sense of operational excellence, pride and teamwork amongst all employees by establishing and executing on a vision and set of principles that drive all aspects of operations.
- Assume direct responsibility for Residential’s P&L; prepare annual budgets and review monthly variance reports for each community to ensure achievement of budgeted revenue expectations and operating expenses are controlled and within stated budgets.
- Responsible for conduction of interviews, hiring, training, coaching and development of all personnel; create engaged associates through motivation and inspiration.
- Ensure all business decisions by the properties align with company policies and procedures; enforcement of Edgewood Properties’ Standard Operating Policies and Procedures
- Ensure “best-in-class” service is delivered to all residents and prospective residents; enforce compliance of “E.D.G.E customer service promise”.
- Ensure each property’s on-line reputation management is a focus and overall rating is at a “4” or higher.
- Ensure each community passes their quarterly “Neat, Clean and Working” audits with score of 90 or better; all community appearance and maintenance deficiencies are addressed in a timely manner per Company’s guideline.
- Ensure all state and local housing violations are addressed and rectified/abated per requirement.
- Review all market surveys at a minimal on a monthly basis to ensure opportunities to increase market rents are identified and taken; review monthly renewal increase strategies and make recommendation to Ownership
- Lead all operation efforts as it relates to opening new multi-family rental communities.
- Determine who the targeted renter and renter profile is prior to preparing the proforma, taking into consideration who the comps are.
- Review all floorplans and blueprints to ensure all applicable and desired design elements, amenities, work areas, and clubhouse functions are captured by the architects.
- Propose unit mixes and amenity programming based on market research and our targeted renter profile.
- Conduct market research/analyses and determine who the comps are; set and position community and rents accordingly against the competitors.
- Manage and coordinate all marketing and advertising efforts by working alongside the marketing team.
- Prepare lease-up plan and leasing goals which are realistic based on absorption schedule from Construction.
- Ensure all targeted milestones and leasing & occupancy goals are met.
- Collaborate with Construction, Engineering, Design, Marketing, Accounting and Maintenance to manage all aspects of bringing a new community on line.
- Ensure Residential Marketing is supporting all company initiatives and Residential goals
- Participate in Lease-Up asset team meetings with all functional groups.
- Oversight of all event planning from Marketing and the site teams such as:
- Community Grand Opening and Ribbon Cutting Ceremony
- Marketing/Promotional events
- Special broker and open house events
- proven experience in customer and market research
- relevant product and industry knowledge in luxury multi-family residential experience in New Jersey, Florida and California (preferred)
- experience with Proforma and budgets creation and analysis
- experience opening at least 5 luxury lease-ups, preferably in the NJ market
- knowledge of NJ and Florida housing laws and requirements
- talent management experience as it relates to recruitment, hiring and training of staff
- prior minimum 5 years’ experience in a senior executive level with an established multi-family property management company, owner or operator.
- bachelor degree required
- must possess great organization skills and ability to prioritize work
- must possess great business acumen
- must possess ability to read and interpret architectural drawings
- experience in all aspects of developing and maintaining marketing strategies as it pertains to lease-ups
In return, we offer competitive compensation, along with comprehensive benefits, including medical and dental and vision benefits, life insurance,
a 401(k) with company match and a corporate team environment with opportunity of advancement. Also includes on-site company fitness gym, discounts on housing and home appliances.
For immediate consideration, please apply online at www.edgewoodproperties.com/careers.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.