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