Full Job Description
This position is for a full time Asset Manager to work in in Portland, OR. This is a remote position. Qualified candidates should be based in Oregon. Qualified candidates will have a Bachelor's degree or equivalent combination of education/training/experience. Ideal candidate will have 3 - 5 years in affordable housing.1+ years reporting to and working with agencies such as HUD, TCAC, CHFA, HOME, USRDA, HCD, RHCP, and investors. Salary range: $81,000.00 - 133,200.00 per year; hiring range for new employees is generally $81,000 - $107,000.00 per year, DOE. Please note an offer will take into consideration the experience of the final candidate and the current salary level of individuals working at EAH in a similar role.
POSITION OVERVIEW
Directly responsible for ensuring the long-term financial and physical health of EAH properties and that the properties meet EAH, owner, and lender requirements. Acting on own initiative is responsible for reviewing and analyzing the portfolio against benchmark performance and assisting in the development of corrective action plans to address Watch List property issues. This position is integrally involved in monitoring budget-to-actual variances and communicating issues and proposed solutions to Real Estate Management (REM) and Real Estate Development (RED) departments as well as Senior Management.
RESPONSIBILITIES
3 Acts as primary contact for lenders, investors, and regulatory agencies for budget approvals.
3 Reviews and distributes annual audits to lenders, investors, and regulatory agencies.
3 Submits monthly, quarterly, and annual reporting as required by lenders, investors, and regulatory agencies.
3 Works with REM Directors/Property Supervisors to analyze budgets against EAH benchmarks and goals and proposes creative solutions to operating cash flow, financial ratio issues, and long-term capital needs.
3 Works with the Compliance Director to confirm Maximum Rent, establish rent burden policies, and set goals for annual rent adjustments/increases.
3 Reviews budgets and participates in budget review meetings to ensure properties are meeting rent increase objectives, affordability, operating expenses per unit, reserve funding, EAH affiliate fees, and surplus cash distribution goals required under all agreements or regulations.
3 Assists the Budget Committee to refine current procedures and workflow.
3 Reviews, tracks, and submits all reserve draw requests.
3 Reviews long-term capital plans for portfolio properties.
3 Monitors portfolio to ensure that operating expenses are in line with budget and that variance explanations meet EAH and investor/lender requirements.
3 Manages LIHTC capital accounts through annual analysis and exit tax projections.
3 Ensures that all financial plans and regulatory agreements meet asset management requirements.
3 Reports quarterly in the Asset Management meeting with any issues.
3 Provides enhanced review and analysis of Watch List properties and properties outside of established benchmarks.
3 Monitors properties moving into operations and ensures that these properties meet pro forma performance through the first complete fiscal year of full operations. Prepares DCR worksheets for perm loan closing.
3 Completes Asset Management Plans and summary reports as required.
3 Maintains and updates fields and information in MRI including important dates and loan information as required.
3 Identifies and creates reports in Yardi and MRI to help assist Property Supervisors and Senior Management.
3 In collaboration with REM, prepares initial operating budgets for RED to incorporate into their development proformas.
3 Attends agency/investor-sponsored training.
3 Attends mandatory meetings and training.
3 Actively participates in EAH's Injury and Illness Prevention Plan.
3 Regular and predictable attendance.
QUALIFICATIONS
Education - Bachelor's degree or equivalent combination of education/training/experience.
Experience - 3 - 5 years in affordable housing.1+ years reporting to and working with agencies such as HUD, TCAC, CHFA, HOME, USRDA, HCD, RHCP, and investors.
DESIRABLE ADDITIONAL QUALIFICATIONS
AMS/CHAM Designation
Knowledge of YARDI & MRI
Accounting and/or Finance Education
