Asset Manager II
Position Responsibilities
Manage a portfolio of approximately 15 assets, including Tax Credit, HUD, Bond, HOME, and Rural Development properties, serving as the primary point of contact for the assigned management companies.
Oversee financial and operational performance by monitoring budgets vs. actuals, occupancy levels, rent rolls, and monthly/quarterly/annual financial statements; review and approve annual budgets, reserve withdrawals, and year-end audits.
Develop and implement Action Plans for high-risk properties in collaboration with partners and property management, tracking effectiveness on an ongoing basis.
Calculate and collect the annual Return-to-Owner (RTO).
Conduct required site visits, with greater frequency for high-risk properties, and provide follow-up reporting to ensure compliance and progress.
Evaluate management company performance and provide feedback on a quarterly, annual, or as-needed basis.
Review governing agreements, financing documents, and regulatory requirements to assess structures, obligations, and constraints.
Identify and resolve issues by collaborating with partners, property managers, lenders, and governmental/regulatory entities.
Participate in portfolio review discussions with internal teams, stakeholders, and management companies.
Complete special projects and assignments as directed by the department.
Requirements
Minimum of five years’ experience in multi-family housing, with direct asset management responsibility.
Strong financial and analytical skills, with the ability to evaluate property performance, cash flow, distributions, and investment projections.
Working knowledge of Low-Income Housing Tax Credit (LIHTC) and HUD programs; Rural Development experience preferred but not required.
Solid understanding of multi-family real estate operations, including budgeting, forecasting, and leasing practices.
Proficiency in Microsoft Office applications (Outlook, Word, Access, and Excel) with the ability to prepare detailed financial reports and analyses.
Excellent communication, organizational, and interpersonal skills for collaboration with partners, property management companies, and internal teams.
Ability to manage multiple priorities in a fast-paced environment.
Partner with third-party property managers to direct and oversee business plans, budgets, forecasts, and approvals, ensuring alignment with ownership goals.
Negotiate third-party contracts and monitor execution.
Maximize total return for each asset by analyzing efficiencies and identifying opportunities for improved performance.
Qualifications
Bachelor’s degree in Real Estate, Finance, Accounting, or related subject. Or, comparable experience as an Asset Manager.
Benefits & Opportunities
The compensation listed represents the expected salary for this position. A candidate's work experience and other job-related factors will also be considered.
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