JOB PERFORMANCE STANDARD – Due Diligence & Property Transition Coordinator

The Due Diligence and Property Transition Coordinator works closely with the VP of Client Relations and the Director of Property Transitions to ensure due diligence and property transitions are completed in a thorough and organized manner.

ESSENTIAL FUNCTIONS:

Responsibilities include but are not limited to:

Due Diligence

• Work closely with the VP of Client Relations to schedule all aspects of 3 party due diligence.
• Ensure Certificate of Insurance (COIs) are received prior to DD from any vendors/sub contractors attending the DD if needed.
• Inventory and verify that all DD reports requested from seller are received and saved appropriately to the HRP server. Follow up on any items not received to secure them from the responsible party.
• Review and summarize completed lease file audit. May participate in completing lease file audits when files are available electronically.
• Verify that all HRP due diligence deliverables are received and saved appropriately to the HRP server. Follow up on any items not saved to secure them from the responsible party.
• Verify contract list is completed thoroughly and all contracts are received and saved on the HRP server. Follow on any contracts not received.
• At end of due diligence if purchase will take place,
• Follow up with seller representative to ensure all lease file audit discrepancies are addressed before transition reports are provided.
• Confirm seller has provide a list of all utility and telecom accounts along with copy of the bills.

Property Takeovers

• Assist the Director of Property Transitions to ensure the takeover workbooks for each new property are updated in a timely manner by the responsible parties.
• Inventory and verify that transition reports/documents requested from seller are received and saved appropriately to the HRP server. Follow up on any items not received to secure them from the responsible party.
• Confirm all lease file audit discrepancies were corrected on transition reports provided for Yardi setup. If not, work with Software Support to correct before property goes live in Yardi.
• Coordinate utility account transfers (electric, water/sewer, natural gas) including setting up common area account, revert to owner agreements, auto draft, and online access for CM & accounting. Follow up post closing to confirm all accounts are transferred correctly. Complete utility transfer summary report to hand off to accounting. Adjust new account dates with providers if the closing date is changed. Assist with obtaining bonds/deposits and filing for NCUC docket and TX PUC when applicable.
• Back up for setting up business licenses for new owning entity in city/counties where required.
• Verify that operations documents and assets needed for each new takeover are saved to the virtual server in the appropriate filing system. Follow up on any items not saved to secure them from the responsible party.
• Conduct a phone call two weeks prior to the takeover date to include the Community Manager (if applicable), Regional Manager, and Regional Vice President to review the transition workbook. Confirm all supplies have been ordered. Confirm all RM takeover items have been completed & documented in the akeover workbook. Report any feedback or pending items from that call to executive team.
• Conduct a debrief phone call one week post-takeover for each new property to include the Community Manager, Regional Manager, Regional Vice President to collect feedback from the team on the transition. Confirm all post-takeover items have been completed & documented in the takeover workbook. Report any feedback or pending items from that call to executive team.
• Follow up with the Community Manager and Regional Manager 90 days post takeover to close out the transition and ensure no other needs.

Property Dispositions

• Pull due diligence reports for buyer as approved by Director of Property Transitions.
• Pull utility account tracker and copies of utility invoices for buyer as approved by Director of Property Transitions.
• Assist the Director of Property Transitions to ensure disposition checklist is completed in a timely manner by the responsibility parties.
• Conduct a phone call with the Regional Manager to determine if there are any pending items or issues that need to be addressed two weeks prior to disposition date. Confirm all RM disposition items have been completed and documented in the disposition workbook.
• Assist with transfer of telcom accounts.
• Post closing, confirm buyer setup new utility accounts and final bills have been received with accounting.
• Confirm operations has cancelled all contracts not being assumed by buyer.
• Pull transition reports for buyer as approved by Director of Property Transitions after property is on manual folders. Assist Director of Property Transitions with any transition report questions from buyer.
• Back up for creating and mail disposition notification letters to vendors.

REPORT TO: Director of Property Transitions

FLSA STATUS: Exempt

PHYSICAL DEMANDS: Must be able to perform the physical functions of the position, which may include but are not limited to: Must be able to see, hear, talk, sit, stand, walk, reach, climb, stoop, kneel and crouch.

COMMUNICATION: Must be able to communicate effectively both verbally and in written form with Executive Leadership, Regional Managers, and Hawthorne team members.

DISCRETION / CONFIDENTIALITY: Exercise discretion and maintain confidentiality in carrying out responsibilities; approach and resolve sensitive situations using tact and diplomacy.

INITIATIVE: Take initiative in problem-solving and to ensure matters requiring attention are managed appropriately.

EXPERIENCE: A minimum three years of experience in the multifamily industry; experience in a corporate support role is preferred. Must have exceptional quantitative skills.

EDUCATION: Bachelor’s Degree or equivalent work experience is preferred.

PRE-EMPLOYMENT TESTING: Drug testing and background screening. Successfully complete pre-employment psychological and basic skills exam, including interest patterns.

LANGUAGE SKILLS: Ability to read, write and verbally communicate in English.

REASONING ABILITY: Has the ability to apply common sense understanding to carry out detailed written or oral instructions.

MATHEMATICAL SKILLS: Advanced knowledge of mathematics required. Ability to apply mathematical concepts to practical situations. Ability to calculate interest, fractions, percentages, and ratios.

COMPUTER SKILLS: Microsoft Word, Microsoft Outlook, Microsoft Excel. Yardi Voyager knowledge preferred.

PERSONAL APPEARANCE: See Hawthorne’s employee handbook for details on dress code.