VP of Operations - Multifamily

Job Description

Job Description

VP of Property Operations - Birmingham, AL

The VP of Property Operations is the senior executive leader responsible for portfolio-wide operational performance, financial execution, and field leadership. This role owns occupancy, revenue growth, expense control, resident experience, and NOI delivery relative to approved budgets. The VP develops and owns all site-level financial assumptions during the annual budget process and is accountable for execution against the final approved financial plan. This role oversees operational performance across a growing multi-family portfolio of approximately 17 communities.

Portfolio Performance & Financial Results (Primary Accountability)

· Own portfolio-wide operational and financial performance.
· Drive occupancy, rent growth, renewal capture, delinquency control, and revenue optimization.
· Deliver NOI performance in alignment with approved budgets.
· Translate operational execution into measurable NOI growth.
· Lead monthly portfolio performance reviews with Regional leadership.
· Identify underperformance early and implement structured corrective action plans.
· Maintain margin discipline through proactive expense management.

Annual Budget Assumption Ownership

· Develop all site-level revenue assumptions including market rent growth, lease trade-out, concessions, and occupancy projections.
· Own payroll and staffing models aligned with service standards and operational workload.
· Forecast controllable operating expenses using field-level insights and historical data.
· Provide scenario modeling for varying market and occupancy conditions.
· Partner with the Director of Portfolio Business Strategy, who governs the timeline, consolidation, and executive presentation of the budget.

Operational Execution & Field Leadership

· Provide direct leadership and accountability oversight to Regional Managers.
· Ensure consistent execution of leasing, maintenance, and service standards.
· Conduct structured property performance reviews and site visits.
· Oversee turn performance, work order completion.
· Serve as executive escalation point for material operational matters.
· Drive consistency in policy enforcement, compliance, and service delivery.

Revenue Optimization & Demand Oversight

· Partner with Marketing to align demand generation with leasing velocity.
· Monitor cost-per-lease, conversion ratios, and source performance.
· Oversee renewal strategy execution and trade-out growth.
· Evaluate pricing and concession strategies to protect revenue integrity.
· Ensure reputation management standards are upheld across the portfolio.

Organizational Leadership & Culture

· Build and develop high-performing Regional leadership teams.
· Establish clear KPI ownership across the portfolio.
· Implement structured coaching cadence and accountability frameworks.
· Develop succession plans and leadership bench strength.
· Champion a culture of accountability, operational discipline, and resident-focused service.
· Develop leaders who embody company values and deliver consistent results across communities.
· Promote collaboration between on-site operations and corporate support teams.

Systems Utilization & Performance Accountability

· Ensure accurate field utilization of Yardi and enterprise systems.
· Leverage standardized dashboards designed at the portfolio level to drive accountability.
· Maintain reporting discipline across occupancy, revenue, and service metrics.
· Ensure data integrity through operational compliance.

Portfolio Growth & Operational Scalability

· Support the continued growth and expansion of the company portfolio by building operational systems, processes, and leadership infrastructure that scale effectively with the business.
· Partner with executive leadership to ensure operational readiness for portfolio expansion, including new acquisitions and lease-up communities.
· Evaluate operational processes and identify opportunities to standardize procedures that support efficient growth.
· Build scalable operational frameworks across leasing, maintenance, and resident services to support portfolio expansion.
· Ensure leadership bench strength within the Regional Manager team to support future community additions.
· Collaborate with teams to support operational due diligence and integration of new communities.
· Identify operational efficiencies and process improvements that enhance portfolio performance as the organization grows.

Executive Performance Metrics

· Portfolio NOI Growth ≥ Target
· Revenue Growth vs Budget ≥ Target
· Expense Variance within approved thresholds
· Occupancy ≥ Portfolio Target
· Renewal Rate ≥ Goal
· Turn Time ≤ Standard
· Work Order Compliance ≥ Target
· Resident Satisfaction ≥ Benchmark

Qualifications & Experience

· Bachelor’s degree in Business, Real Estate, Finance, or related field required; MBA preferred.
· 10+ years of progressive property management experience, with at least 5+ years in senior multi-site leadership.
· Demonstrated success driving portfolio-level financial performance across multiple assets or markets.
· Proven experience developing and executing annual operating budgets in excess of multi-million-dollar portfolios.
· Strong P&L ownership experience with clear accountability for NOI growth and expense discipline.
· Deep understanding of revenue management, lease-up strategy, and renewal optimization.
· Operational expertise across leasing, maintenance, service delivery, and compliance.
· Experience leading large, distributed on-site teams with structured performance management cadence.
· Proven track record executing successful portfolio acquisitions.
· Advanced working knowledge of Yardi or comparable enterprise property management systems.
· Strong analytical capability with ability to translate operational trends into financial outcomes.
· Executive presence with ability to influence senior leadership and ownership stakeholders.
· CPM designation or equivalent professional certification preferred.