Third Party Regional Manager

JOB PURPOSE or JOB SUMMARY:

Responsible for oversight of an assigned portfolio of affordable housing communities managed by third-party property management companies. This position serves as Align Properties’ primary operational liaison to third-party management partners and works to preserve and grow the financial and physical health of the assets while ensuring strong property performance, regulatory compliance, and alignment with ownership expectations.

• Monitor third-party management companies for adherence to management agreements, approved policies and procedures, ownership expectations, and applicable federal, state, and local laws.
• Ensure third-party management partners and property operations adhere to Fair Housing requirements and regulations.
• Oversee compliance requirements for affordable housing programs and funding sources, with a primary focus on LIHTC/Section 42 requirements, as well as other applicable programs (e.g., HOME).
• Conduct routine site visits and property inspections based on portfolio needs to evaluate operations, physical condition, curb appeal, resident experience, and adherence to ownership standards.
• Review monthly financial statements, operating reports, variance explanations, and property performance; report internally to senior management and coordinate external reporting, as needed, to lenders, investors, and state housing finance agencies.
• Monitor accounts receivable, delinquency, bad debt, occupancy, leasing, and collections performance and hold third-party management partners accountable for timely corrective action when performance falls below expectations.
• Review property expenditures and capital needs to ensure operations remain within approved budgets and capital expenditure guidelines. Partner with third-party management teams to address variances, obtain supporting documentation, and implement corrective action plans as needed.
• Review and monitor marketing, leasing, and occupancy strategies developed by third-party management companies to support property performance and stabilization goals.
• Coordinate the annual budgeting process for assigned properties in partnership with third-party management companies; review proposed operating budgets, assumptions, staffing plans, and capital needs before submission for approval.
• Manage the relationship and performance of third-party property management companies, including regular communication, performance reviews, follow-up on action items, and escalation of operational concerns.
• Provide direction and accountability to third-party management partners regarding property goals, deadlines, reporting requirements, compliance matters, and ownership priorities.
• Partner closely with internal departments, including accounting, development, asset management, compliance, and leadership, to communicate property performance, risks, and operational needs.
• Support management transitions, onboarding of new third-party management partners, and changes in management agreements or portfolio assignments, as needed.
• Travel is expected regularly as required to effectively oversee the assigned portfolio. Other duties as assigned by supervisor.

An individual in this position must be able to successfully perform the essential duties and responsibilities listed above. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.