The primary responsibility of the Asset Management Associate is to support the Asset Manager with the oversight of all aspects of an affordable housing portfolio of over 700 units. Serving as a fiduciary, this position will assist with monitoring the performance of all real property assets to ensure the buildings operate cost-effectively; identify capital needs and develop a program for the implementation of such capital improvements for individual properties; oversee general contractors working in selected properties; and actively oversee third party property management activities including operational, financial and program compliance.
Primary Job Duties and Responsibilities:
- Assist with the review and analysis of project financial statements including income/expense reports and balance sheets, existing financing and regulatory agreements.
- Assist with the preparation of yearly financial property budgets.
- Prepare and analyze operating cash flow pro-formas including presentation of hold-sell recommendations.
- Coordinate with third-party property management companies and other consultants as needed.
- Evaluate requests from property managers to improve existing units and buildings.
- Monitor the activities of property management firms responsible for the daily operations of the properties.
- Oversee and assist with obtaining bids for construction work to rehab properties.
- Inspect buildings on a regular basis and determine capital needs improvements including the development of proper schedules to complete capital needs improvements.
- Establishing project/property objectives, policies, and performance standards to successfully complete rehab of buildings.
- Working with general contractors to ensure proper scope of work and execution of rehab projects.
- Attends and participates in required organizational programs, board, committee and staff meetings.
- Performs other duties as assigned.
Essential Knowledge and Skills:
- Bachelor’s Degree in finance and/or real estate management with previous experience in finance, operations, and accounting.
- Minimum three-years’ work experience with increasing responsibilities in real estate portfolio management or a related field including experience working with property management and construction.
- Familiarity with compliance of Section 42 low income housing tax credits, and other low income multifamily housing funding programs.
- Minimum three years of experience in budget development and financial analysis, residential lease negotiations, and real estate operations. Proven track record of success in these areas.
- Have a commitment to community development.
- Possess strong analytical and interpersonal skills.
- Represent the organization professionally.
- Demonstrated ability to build relationships and work effectively with people of diverse social, faith, economic and racial/ethnic backgrounds.
- Excellent written and oral communication skills.
- Demonstrated ability to use Word, Excel, Access and other relevant software.