Asset Manager

Essential job functions

Essential functions for this position relate to the responsibility of asset manager including but not limited to:

• Project and work to increase cash generated from operations

• Understand LPA, waterfall and GP responsibilities for timely distributions to HDC and partners

• Understand financing, affordable programs and regulatory requirements

• Provide oversight for the portfolio to remain in good standing with the applicable file and physical compliance requirements in governing documents such as loans, partnership agreements, tax credit allocations, affordability restrictions, etc.

• Programs: LIHTC, HUD Programs, State and Local programs, HOME, TIF, REAC, RAD, Public Housing, Housing Choice Vouchers, etc.

• Monitor and report on property management capacity and performance:

• Organize/Monitor data and workflow systems in use at corporate office and at sites to track and plan for critical events

• Measure and manage property performance against projections and annual budgets.

• Develop project operating forecasts to determine potential operational challenges, corrective actions, and opportunities for improvement.

• Review and approve annual property budgets

• Review monthly and quarterly operating statements

• Review tax returns and audits for portfolio properties.

• Respond to questions from lenders, partners, or other approving agencies on property financials

• Provide information for internal, board and external presentation of property and portfolio performance and strategic outlook on long term operations

• Participate in pipeline discussions of prospective projects and feasibility

• Create/review operating projections

• Facilitate in project lifecycle transitions (Development to Operations, Re-syndication, Dispositions, etc.)

• Work with HDC’s development department to prioritize and advance necessary funding requests and applications

• Site visits, curb stops, preventive maintenance contracts, maximizing rents, controlling expenses, marketing, reserve analysis, reserve draws, long-term capital plans

• Anticipate and prevent liability risks through monitoring of operational and financial matters:

  • Legal issues and contracts
  • insurance
  • property tax issues/exemption
  • utility consumption, security
  • neighborhood issues

• Bring Asset Management perspective into communications with internal staff and external parties to achieve property goals.

• Work cross-functionally with other departments within HDC to develop and implement annual asset management plans, set operating benchmarks, and achieve defined property goals consistent with HDC’s strategic plan.

• Participate in review and development of owner standards for condition of units, buildings, and site within budgetary limitations

• Prepare Board reports on portfolio performance, trends, goals, events, etc.

• Connect with funders, investors and local partners as owner representative for HDC, developing trust and building consistent and constructive problem-solving approaches

• Coordinate all responses to questions from investors/lenders on assigned portfolio

• Meet investors during site visits where feasible and on troubled properties

• Negotiate with partners and/or lenders to ensure the long-term physical and financial health of the properties.

• Maintains internal control system to ensure integrity of data and works to achieve transparency in accounting and financial reporting processes.

• Keeps abreast of changes in laws, policies, and HUD regulations related to property operations and ensures adherence to appropriate policies, procedures, regulations, and guidelines.

• Promotes equality of opportunity in all aspects of employment, housing management, maintenance, and service delivery, and ensures compliance with all relevant legislation; ensures that qualified individuals are not excluded from participation in, denied the benefits of, or are subjected to discrimination under any program or activity.

• Bachelors degree in Finance, Accounting or Economics or related field with experience.

• Must have previous experience in real estate where processing transactions and management of details are important.

• Expereince with LIHTC program is helpful but not required.

• Must possess sound judgment and decision-making skills with a strong ability to self-manage, drive objectives and meet deadlines.

• Solid business acumen required, as well as, the ability to work cooperatively and collaboratively at all levels, internally and externally, to maximize performance and results.

• Must be forward thinking with the ability to improve operational efficiencies.

• Ability to multi-task and exhibit strong organizational and project management skills is required.

• Must excel in a high stress deadline oriented environment.

• Authorized to work in the United States

• Working (intermediate or better) knowledge of Microsoft Office Suite expecially Excel.

• Yardi Experience is a plus (if not a requirement)