AVP Asset Management Multifamily

Job Description

• Develop and implement asset management strategies to maximize property performance, cash flow, and portfolio value while maintaining affordability commitments.
• Prepare investment recommendation reports for new construction and rehabilitation, including a market assessment, proposed construction scope, and accompanying operating proforma

• Oversee a regional portfolio of affordable housing properties, ensuring compliance with HUD, LIHTC, and other federal, state, and local regulatory requirements.
• Monitor and analyze property performance metrics, including occupancy, rent collections, operating expenses, and capital needs.
• Conduct regular property and market evaluations to identify opportunities for improvement or risk mitigation.
• Physically inspect each property within their portfolio with regular cadence

• Manage property budgets and long-term financial planning, ensuring alignment with ownership goals.
• Collaborate with property managers to optimize NOI (Net Operating Income) and meet financial targets.
• Oversee annual audits, financial reporting, and tax credit compliance submissions.
• Analyze neighborhood or market conditions and trends, identifying the potential impact on the existing portfolio

• Partner with property management companies to ensure consistent execution of operational strategies.
• Collaborate with Development and Acquisitions teams to ensure seamless transitions of newly acquired or developed properties into the portfolio.

• Identify and mitigate potential risks, including physical, financial, and regulatory challenges.
• Develop and implement corrective action plans as needed to address performance or compliance issues.

• Understanding of affordable housing programs and compliance requirements.
• Strong analytical and problem-solving skills with a data-driven approach.
• Excellent interpersonal and communication skills to collaborate with a diverse range of stakeholders.
• Strategic thinker with a proactive and results-oriented mindset.
• Ability to manage multiple priorities in a fast-paced environment.

• Education: Bachelor’s degree in Business Administration, Finance, Real Estate, or a related field preferred
• Experience: Minimum 7 years of experience in asset management, real estate, or property management, with a strong focus on affordable housing.
• Demonstrated understanding of LIHTC, HUD programs, and other affordable housing regulations.
• Strong financial acumen, including experience with financial modeling, budgeting, and reporting.
• Communicates Effectively: Listens effectively and confirms understanding when needed.  Cooperates effectively with teammates(intact team and cross functionally) and provides and takes feedback with ease
• Drives Results: Works hard to ensure understanding of all critical performance targets.  Lines up personal and team performance to deliver results.  Accepts feedback and pivots activities and behaviors when needed to improve results
• Plans and Aligns: Understands plans communicated and asks for clarity when needed.  Provides input when plans require front line input. Makes an effort to ensure teammates are aligned on daily and weekly actions supporting the plan.
• Manages Ambiguity: Carefully listens to need for change or need to wait for instruction in times of change.  Keeps moving daily and weekly tasks forward while waiting for any pivots to workstream.
• Develops Talent/Professional Development: Works with leadership to execute individual development plans for self and others.  Makes time to become the best in their current role and to learn aspects of future potential roles.
• Resilient: Stays abreast of results individually and for the team and reacts with persistence especially when results are less than planned.  Keeps a positive attitude and entertains and develops ideas to enhance results.