Lease Up Specialist
Overview:
The Lease Up Specialist (“LUS”) will be a part of a dynamic team responsible for initial lease up of new Pennrose properties. The LUS will work alongside the stabilized property management team, as well as other LUS team members, to ensure efficient and effective lease up of new properties.The position requires leadership over the onsite application and compliance processes, excellent customer service to new and existing residents, and ability to adeptly manage multiple asks effectively, efficiently and accurately. The LUS role will be engaged at a property from pre-leasing thorugh the substantial completion of a lease-up process, at which point they will leave the in-place stabilized operations team and move onto the next lease-up project.
With expertise in the Pennrose leasing process, the LUS will be skilled in the technological platforms upon which the lease-up process relies. The LUS will not only ensure that applications and leases are completed, but will work alongside Compliance and Yardi to set up resident files, first year tax credit files, and complete first-year file audits.The LUS will also interact with internal departments including marketing, development and IT to ensure efficient communication of lease-up status and challenges.
The LUS will relentlessly pursue full occupancy and optimize rental income following program requirements / market conditions thus being a responsible steward for the success of each property. The LUS will successfully work as part of the overall lease up team to hit all important targets such as tax credit guarantees, developer fees, financial installments, breakeven, conversion, etc.
The Lease Up Specialist will demonstrate professional leadership and will support the development and training of those onsite and will diligently pursue their own professional development by fully utilizing the Pennrose Academy.
The Lease Up Specialist will report to the Regional Transition Manager.
Pay range: $28 - $32/hour depending on experience + bonus potential.
Responsibilities:
- Effectively manage the overall lease up process for assigned developments to include rent achievement, clean compliance file submissions, accurate move ins, accurate tracking of all activities using tools provided, resident file setup, and first year file setup.
- Process and approve accurate and complete files for upload to Yardi Right Source for compliance review with minimal corrections
- Report out frequently with accurate detail about very specific items about the lease up including details on status of specific files and application volume per unit type, and keep internal tracking database updated with current status of lease-up progress
- Proactively advise the broader lease up team about concerns/issues that are foreseen due to current activity, low activity, housing partner challenges, etc.
- Consistently market the property to high standards, optimize curb appeal and successfully convert applicant traffic / waitlists to successful residency while meeting all Fair Housing requirements
- Understand all aspects of the affordable housing / market rate program features of the assigned properties – optimize the financial and operational performance of the property within this construct
- Proactively manage housing authority partner subsidy programs /relationships as needed
- Proactively manage agency and other partner relationships as needed
- Ensure utilities are placed into new residents’ names at move in and all utility benchmarking addendums are signed
- Inspect the leasing spaces and any property that has been turned over to operate daily – attend to maintenance needs and conditions being mindful of safety
- Provide meaningful input to the transition and development planning process, lease up, stabilized and first year budget processed and examine expenditures for cost savings and efficiencies – share best practices with colleagues
- Participate in unit/other acceptance walks as needed
- Process re-certifications (when applicable), build / manage credible waiting lists for each unit type – anticipate issues impacting occupancy and financial performance – meet deadlines – work proactively
- Teach new team members about customer service, professionalism, safe work practices, effective property inspections, vendor management and the optimum use of technology / Mobile Maintenance/Yardi and Fair Housing and Risk Management initiatives
- Serve as a role model, mentor, coach and trusted resource to field staff and residents
- Support the Pennrose Academy efforts to heighten the technical expertise of staff
Qualifications:
Performance Metrics:
- Developments will successfully meet all aspects of the lease up budgets
- Developments will successfully meet all development deadlines & targets; when this is not feasible for construction related reasons, damage will be mitigated
- Developments will be successfully stabilized in conjunction with the Operations team
- First Year File audits will be successfully accepted by investor/state angecies with no more than one round of corrections
- Property will not experience insurance claims due to neglect on the part of staff
- Resident/Applicant satisfaction surveys will yield consistently positive results
Required Education and Experience:
- High School Diploma / College degree a plus
- Four years of increasing property management responsibilities preferred
- Knowledge of both affordable and market rate housing. Lease up experience a plus.
- Industry training credentials which authenticate understanding of rental housing programs
- Requires a valid driver’s license, an insured vehicle, and the ability to travel (between properties)
Working Conditions:
- Ability to work periodic flexible hours is required.
- Ability to travel by plane, train and automobile is required.
- Ability to work at property locations within or near transitional neighborhoods
- Ability to climb stairs, take elevators, bend, squat and reach overhead.
- Ability to travel by car, train, plane or bus 75% - 90% of the time.