Asset Manager

$130,000 - $150,000 yearly
  • The Paulsen Group
  • Remote
  • Jun 14, 2022
Full time LIHTC Developer Real Estate

Job Description

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 terms.
  • Manage initial tenant file certification, property lease up, and tax credit timing adjusters.
  • Work with Controller and outside auditors on Cost Certifications, place in service packages, shepherd receipt of 8609s, and completion of annual audits and tax returns.
  • Manage tax credit equity pay-ins, 8609 procurement and low-income housing tax credit compliance.
  • Process construction draws and manage construction budgets/schedules for substantial renovations.
  • Other relevant duties as assigned. 

Qualifications 

  • Bachelor’s Degree or equivalent work experience in real estate or property management, preferably with low-income housing tax credit projects.
  • Previous experience developing, and continuously improving property management operations.
  • Understand the financial and nonfinancial performance drivers.
  • Strong organizational and analytical skills and ability to handle 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.
  • Desire to travel and hold a valid driver's license.
  • Familiarity with affordable housing development, asset management or property management in the public or nonprofit sector.
  • Previous experience with Yardi/RealPage.
  • Ability to read/interpret limited partnership agreements, loan documents and regulatory agreements.