Job Summary:
We are seeking an experienced Asset Manager to oversee the operations of affordable rental housing communities within a diverse portfolio. The Asset Manager will serve as the owners representative, ensuring financial performance, compliance, and long-term sustainability of multifamily properties. This role requires strong financial, operational, and project management skills, with the ability to coordinate across teams, direct third-party property management firms, and ensure properties meet regulatory, operational, and resident needs.
Role & Responsibilities:
Oversee a portfolio of affordable multifamily rental properties and land parcels slated for future development.
Achieve projected Net Cash Flow for each property through budgeting, financial oversight, and long-term planning.
Monitor activities of third-party property management firms to ensure effective operations.
Coordinate with internal teams on asset management, development, and community development issues, providing regular reporting and feedback.
Negotiate agreements and review bids from property management companies and vendors, making recommendations for approval.
Ensure compliance with lease-up, marketing, outreach, waiting list management, and regulatory requirements.
Conduct quarterly site inspections, evaluate physical conditions, and recommend capital improvement or energy retrofit projects.
Address deferred maintenance issues that pose safety risks or asset deterioration.
Review, update, and approve management and marketing plans; obtain lender and partner approvals.
Monitor property management reports for compliance with budgets, plans, and regulations.
Approve and process Reserve Replacement Requests and ensure timely updates to reporting systems.
Prepare and deliver scheduled reports such as Construction Reports, Performance Reports, and Portfolio Reviews.
Analyze property financial statements and prepare for monthly portfolio reviews.
Support resident boards as needed and respond to insurance inspection findings.
Represent the organization professionally to stakeholders, vendors, residents, and property managers.
Manage project budgets, expenses, payments, and reporting to lenders/funders.
Approve and oversee marketing and leasing programs for new developments; lead leasing meetings once properties reach 50% completion.
Ensure quality and cost control through inspections, reporting, and oversight.
Collaborate with property management and leadership to resolve resident concerns and operational issues.
Perform additional duties as assigned.
Education and Experience:
Bachelors degree in Business or related field required; graduate degree preferred.
Experience with affordable multifamily housing and LIHTC required.
58 years of experience in Asset Management or Affordable Property Management.
Physical Abilities:
Ability to sit, stand, and move for extended periods.
Move equipment weighing 2035 pounds independently; more than 35 pounds with assistance.
Navigate office, outdoor areas, and construction sites with varying ground levels and textures while adhering to safety protocols.
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