Job Details

Overview

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 owner's 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.

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

• Bachelor's degree in Business or related field required; graduate degree preferred.
• Experience with affordable multifamily housing and LIHTC required.
• 5–8 years of experience in Asset Management or Affordable Property Management.

Physical Abilities

• Ability to sit, stand, and move for extended periods.
• Move equipment weighing 20–35 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.