Job Description
Affordable housing developer is seeking a motivated, team-oriented Asset Manager to join a growing multifamily real estate investment, development, and property management firm. The company owns approximately 600 million in real estate across thirteen states throughout the United States. Under the direction of the company’s principals, the Asset Manager shall be responsible for all functions of Asset Management for properties in Texas and surrounding states. Responsibilities include oversite of property operations and management to ensure physical and financial well-being of the properties and monitoring compliance with property specific regulatory agreements. The Asset Manager will produce reports used for analyzing and evaluating property needs and will be a key contact for coordination and collaboration with internal team and outside parties.
Essential Duties and Job Responsibilities
- Responsible for the evaluation and monitoring of financial performance against benchmarks and requirements as stated in lender and limited partnership documents.
- Prepare and coordinate the distribution of quarterly, annual and periodic reporting to lenders, investors and regulatory agencies.
- Participate in the development of annual property budgets in collaboration with all stakeholders involved.
- Prepare and submit in a timely manner annual renewals of welfare tax exemptions for all properties.
- Conduct property site visits and evaluate physical condition of the asset.
- Maintain an annual project compliance and monitoring schedule for all properties.
- Maximize revenue and net operating income of portfolio.
- Maintain organized, systematic electronic and, as appropriate, traditional files for all properties in assigned portfolio.
- Assist in negotiations of vendor contracts and ensure vendors adhere to agreed upon terms.
- Other relevant duties as assigned.
Qualifications
- Bachelor’s Degree or equivalent work experience in real estate or property management, preferably with tax credit projects.
- Previous experience developing, and continuously improving property management operations to enhance team efficiency, quality and performance.
- Understand the financial and nonfinancial performance drivers.
- Strong organizational and analytical skills.
- Ability to handle shifting and multiple priorities in a fast-paced environment.
- Excellent judgment and decision-making, interpersonal and time management skills with the ability to work under pressure and successfully meet deadlines.
- Strong verbal/written communication skills with demonstrated ability to exercise tact and diplomacy with internal team and outside parties.
- Highly skilled in the use of MS Word and MS Excel software.
- Valid driver's license and availability to drive as necessary to properties splitting time 50% between site visits and Santa Monica office location.
- Familiarity with affordable housing development, asset management or property management in the public or nonprofit sector a plus.
- Previous experience with Yardi Voyager a plus.
- Ability to read/interpret limited partnership agreements, loan documents and regulatory agreements.
