People People
Position Summary
The Director of Operations, Illinois Properties, is a senior leadership role responsible for overseeing and optimizing the performance, operations, and site level strategic direction of a group of large multifamily apartment complexes. This person works with a team of direct reports and colleagues to ensure that all aspects of property operations - from leasing and maintenance to financial performance and capital improvements - are executed efficiently, profitably, and in compliance with applicable regulations.
Key Responsibilities
Strategic & Operational Oversight
- Provide leadership and direction for the operations and asset management of a group of properties within the firm's multifamily property portfolio.
- Develop and implement operational strategies, policies, and standard operating procedures for property management, maintenance, leasing, resident services, and vendor management.
- Collaborate with ownership/senior leadership to align operational plans with investment business plans, growth objectives, and long‑term value‑add strategies.
Financial Management & Reporting
- Work with executive management to develop budgeting, forecasting, and financial reporting across assigned properties - including operating budgets, capital expenditure planning, and monthly/quarterly performance reporting.
- Monitor financial performance (income, expenses, cash flow), analyze variances, and implement corrective action plans to maximize revenue and control costs.
- Approve or coordinate capital improvement plans: scope, budgets, timelines, draw requests, and oversight of construction or renovation work across the portfolio.
Property & Asset Operations
- Monitor KPI's with a closed loop feedback system and provide performance recommendations and feedback for property level personnel on leasing, marketing, resident retention and satisfaction, occupancy goals, and rent collection.
- Provide guidance for property maintenance, preventive maintenance programs, vendor/contractor management (e.g., maintenance, landscaping, janitorial, repairs), and physical condition of properties.
- Ensure compliance with regulatory requirements, local/state/federal housing laws (including fair housing), lease compliance, safety standards, and any applicable funding program guidelines (if affordable housing aspects exist).
Leadership & Team Management
- Build, supervise, mentor, and develop property management teams - including property/site managers, maintenance staff, leasing/marketing staff, and administrative personnel - across multiple properties.
- Set performance expectations, conduct performance reviews, and ensure accountability for all team members and, if applicable, third‑party management vendors.
- Conduct ongoing property site visits and inspections to monitor operations, staff performance, and property conditions; identify issues and ensure timely resolution.
Growth & Value‑Add Initiatives
- Identify value‑add opportunities and implement initiatives to improve property performance and returns (e.g., renovations, repositioning, enhanced services, branding, cost efficiencies).
- Support acquisition, due diligence, and onboarding of new properties – ensuring integration into the existing operations framework. (If applicable)
Qualifications & Experience
- Bachelor's degree in Business, Real Estate, Finance, Property Management, or a related field. (Advanced degree a plus but not always required.)
- Significant experience (typically 8–15 years, depending on portfolio size) in multifamily property management, or related rental real estate operations.
- Proven track record of managing multiple properties, overseeing third‑party management, and leading cross‑functional teams across leasing, maintenance, finance, and resident services.
- Strong financial acumen – budgeting, forecasting, P&L analysis, capital planning.
- Deep knowledge of property operations: maintenance, leasing, resident relations, regulatory compliance (housing laws, fair housing, safety), vendor/contractor management.
- Excellent leadership, communication, interpersonal, and organizational skills. Ability to make strategic decisions and manage complex, multi‑site operations.
- Familiarity with property management software and tools (Yardi, MRI, or similar) preferred. (Typical in large‑scale multifamily operations.)
Key Competencies & Personal Attributes
- Strategic mindset with ability to balance big‑picture thinking and day‑to‑day operational details.
- Results‑oriented, with focus on maximizing occupancy, revenue, and resident satisfaction while controlling expenses.
- Leadership and people management skills – able to build, mentor, and motivate a high‑performing team across multiple locations.
- Excellent problem‑solving, conflict resolution, and decision‑making capabilities.
- Ethical and compliance‑oriented: ensures all operations align with laws, regulations, and industry best practices.
- Strong communication and interpersonal skills – able to liaise with owners/investors, staff, vendors, and residents.
What Success Looks Like in This Role
- A well‑maintained portfolio of properties with high occupancy rates, strong resident retention, and high resident satisfaction.
- Consistent performance to or above budgeted financial targets (revenue, expenses, NOI, cash flow).
- Efficient, streamlined operations across all properties – maintenance, leasing, resident services, vendor management, reporting.
- Successful execution of capital improvement plans and value‑add initiatives that enhance property value and returns.
- A strong, productive, and engaged property management and operational team, with low turnover and high morale.
- Compliance with all regulatory, legal, and safety requirements; minimal liabilities or compliance issues.