Asset Manager

Responsibilities

• Oversee a portfolio of up to 10 assets, including Low-Income Housing Tax Credit, HUD, Bond, Home, and market-rate properties.
• Responsible for overseeing the 3rd party management companies on their portfolio.
• Work closely with property staff to analyze and report on monthly financial performance; monitor budgets (comparing to actuals) and various key performance indicators including maximizing rents, occupancy, collections, and capital needs as necessary.
• Review and approve annual budgets for reasonableness upon submission by the 3rd party management companies.
• Complete capital renovation projects while working directly with vendors/contractors, ensuring projects are completed on time and on budget.
• Work closely with the Construction Asset Manager on the completion of capital projects.
• Review and approve Reserve withdrawals and track the balances in the Reserve accounts.
• Develop an “Action Plan” in conjunction with the other key partners or property management for concern properties, monitoring effectiveness of the “Action Plan” on a monthly or more frequent basis.
• Conduct all required site visits. Concern properties must be visited more regularly.
• Review partnership agreements, regulatory agreements, financing documents and other sources to determine financing structures and constraints.
• Ascertain and work to resolve problems through collaboration with partners, property managers, lenders, and governmental/regulatory entities.
• Analyze monthly, quarterly, year-end, and annual financial audits.
• Conduct quarterly distribution calculations and present proposed distribution projections to department head.
• Review potential communities for acquisitions, and provide feedback on market, physical condition, management, and other analysis as required.

Requirements

• Advanced Excel, Power Point, Yardi, PowerPoint, Power BI Familiarity with multi-family asset class
• Positive attitude and desire to take initiative
• Detailed oriented with attention to accuracy and organization
• Proficient oral and written communication skills
• Professional and courteous

Qualifications

• Bachelor’s degree in Real Estate, Finance, Accounting, or related subject; or 2-5 years of previous related experience