Bachelor's degree in Real Estate, Finance, Business, Construction Management, or related field (or equivalent experience).
4-7 years of experience in multifamily asset management or affordable housing, with strong financial analysis and LIHTC program knowledge.
Experience with MRI or similar asset management systems, and comfort with automation/AI tools is preferred.
Responsibilities
Own monthly and quarterly property performance, including P&L review, occupancy, rent variance, and utility trends.
Develop and implement action plans to address variances and ensure properties meet or exceed underwritten expectations.
Maintain LIHTC compliance, ensuring annual recertifications and adherence to regulatory requirements.
Manage responses to Housing Finance Agency (HFA) 8823 reports and coordinate with Legal and Compliance for timely cures.
Oversee capital projects from scoping to completion, ensuring timely and on-budget delivery of initiatives.
Direct leasing and marketing strategies to maximize revenue and occupancy.
Champion process improvement and the adoption of AI/automation tools to enhance reporting and compliance.
Benefits
Opportunity to work in a pivotal role at a company dedicated to affordable housing.
In-office schedule promoting collaboration and regular team interactions.
Ability to impact the operation and performance of a significant portfolio of properties.
Full Job Description
Title - Asset Manager Company - Affordable Equity Partners, Inc, a subsidiary of JES Holdings, LLC Location - Atlanta, GA Schedule - In office Monday - Thursday and ability to travel about 10%. POSITION SUMMARY The Operating Property Asset Manager (OPAM) at Affordable Equity Properties (AEP) is responsible for the day-to-day oversight and performance of a portfolio of stabilized LIHTC (Low-Income Housing Tax Credit) properties. This role is pivotal in ensuring asset value, compliance, and operational excellence across the assigned portfolio. Key Responsibilities:
Asset Performance & Operations:
Owns monthly and quarterly property performance, including P&L review, occupancy, rent variance, and utility trends.
Develops and implements action plans to address variances and ensure properties meet or exceed underwritten expectations.
Compliance & Reporting:
Maintains LIHTC compliance in partnership with the Compliance team, ensuring annual recertifications and adherence to regulatory requirements.
Manages responses to Housing Finance Agency (HFA) 8823 reports and coordinates with Legal and Compliance for timely cures.
Prepares quarterly investor commentary and ad-hoc updates.
Risk Management:
Updates AHIC Operating Property Risk Ratings in MRI software, ensuring a clean audit trail for inspections, reserve draws, and capital projects.
Capital Projects & Reserve Management:
Manages reserve draw requests, validates eligibility, and oversees capital projects from scoping to completion.
Ensures timely and on-budget delivery of capital initiatives and closure of third-party inspection findings.
Leasing, Marketing & Revenue Optimization:
Directs leasing and marketing strategies to maximize revenue and occupancy.
Approves marketing expenditures and works with property management on resident retention and lease enforcement.
Capital Markets, Refinance & Disposition Support:
Supports refinancing and disposition efforts by providing accurate operating histories, capital projections, and compliance documentation.
Continuous Improvement & AI Adoption:
Champions process improvement and the adoption of AI/automation tools to enhance reporting, compliance, and portfolio monitoring.
Stakeholder Coordination:
Ensures smooth asset transitions from Development Asset Management and maintains responsive communication with internal and external stakeholders. Performance Measures (KPIs)
Occupancy and rent growth vs. underwriting and market comps.
NOI vs. budget (variance %).
Time to close Capital Projects from third-party inspections (avg days) and Capital project on-time/on-budget rate.
Number of reserve draws processed with complete documentation on first submission.
Timeliness of MRI risk rating updates (quarterly and monthly for watchlist).
Investor report accuracy and timeliness.
Number and timeliness of 8823 responses and cures.
Qualifications
Bachelor's degree in Real Estate, Finance, Business, Construction Management, or related field (or equivalent experience).
4-7 years of experience in multifamily asset management or affordable housing, with strong financial analysis and LIHTC program knowledge.
Experience with MRI or similar asset management systems, and comfort with automation/AI tools is preferred. #LI-MW
