Job Title: Area Director Reports To: Regional Director of Property Management Employment Type: Full-Time Annual Salary Range: $70,000 - $80,000 Position Overview We are seeking a highly experienced Area Director to lead operational recovery and long-term stabilization efforts across a diverse affordable housing portfolio. This position will primarily focus on underperforming properties, including communities requiring operational turnaround, compliance correction, physical rehabilitation, and lease-up stabilization. The portfolio includes properties operating under USDA Rural Development (RD), LIHTC, HUD, and Missing Middle housing programs. The successful candidate will bring strong leadership, compliance expertise, and proven experience improving occupancy, financial performance, team culture, and regulatory standing in challenged assets. This is a hands-on leadership role requiring decisive action, strategic thinking, and the ability to drive measurable results in complex environments. Primary Responsibilities Distressed Asset Stabilization & Turnaround - Lead recovery strategies for underperforming or distressed communities including operational, financial, compliance, and physical challenges
- Assess property performance and implement corrective action plans focused on occupancy growth, expense control, and resident retention
- Stabilize site operations through leadership restructuring, training, and performance accountability
- Partner with ownership and asset management to execute turnaround timelines and performance benchmarks
- Provide intensive oversight during transition periods, staffing changes, or agency interventions
Affordable Housing Compliance Oversight - Ensure portfolio compliance with:
- USDA Rural Development regulations
- LIHTC program requirements
- HUD housing programs
- State and local affordable housing guidelines
- Correct compliance deficiencies and prevent recurrence
- Prepare properties for agency reviews, audits, MORs, and investor inspections
- Act as senior compliance resource for regional and site teams
Lease-Up & Rehabilitation Leadership - Provide executive oversight for active lease-up communities, ensuring compliance-driven leasing strategies and milestone achievement
- Oversee operational execution during property rehabilitation and capital improvement projects
- Coordinate closely with construction, development, and relocation teams
- Maintain resident communication standards and minimize operational disruption
Financial & Operational Performance - Analyze financial statements, budgets, and operational KPIs to identify risk and improvement opportunities
- Drive improvements in occupancy, collections, expense management, and NOI performance
- Develop stabilization budgets and recovery forecasts
- Monitor delinquency trends and implement collection strategies
Leadership & Team Development - Directly supervise Regional Managers and/or Property Managers within assigned portfolio
- Recruit, mentor, and develop high-performing operational teams
- Establish accountability standards and performance expectations
- Intervene quickly to resolve leadership or culture challenges at struggling sites
Stakeholder & Agency Relations - Serve as primary operational liaison with ownership groups, investors, lenders, and regulatory agencies
- Provide clear reporting on stabilization progress and risk mitigation efforts
- Collaborate with Asset Management, Compliance, Maintenance, and Development teams to align operational strategy
Required Qualifications - Minimum 8–10 years of progressive property management experience with multi-site or regional leadership
- Demonstrated success stabilizing distressed or underperforming affordable housing assets
- Extensive experience with RD, LIHTC, and HUD programs
- Proven experience overseeing lease-ups, repositioning efforts, or rehabilitation projects
- Strong financial analysis and operational troubleshooting skills
- Ability to lead through change and manage high-pressure environments
- Willingness to travel frequently within assigned region
Preferred Certifications - HCCP, COS, SHCM, or equivalent affordable housing certifications
- CPM or ARM designation preferred
- Experience working with agency corrective action plans or receivership/transitional assets a plus
What Success Looks Like - Stabilized occupancy and improved financial performance across distressed assets
- Successful completion of lease-ups and rehabilitation transitions
- Reduced compliance findings and improved audit outcomes
- Strong, sustainable on-site leadership teams
- Properties transitioned from recovery phase to stabilized operations
Compensation & Benefits - Competitive salary
- Performance-based bonus opportunities tied to stabilization goals
- Comprehensive benefits package
- Professional development and leadership growth opportunities
- Opportunity to directly impact communities through housing revitalization
PK Housing is an Equal Opportunity Employer!
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