ResponsibilitiesRelated California is seeking an Asset Manager to oversee ~25 affordable housing properties in Southern California, reporting to a Senior Asset Manager who is responsible for the entire region. The position is full-time located in Related's Newport Beach office. The ideal candidate will have at least 3-5 years of Affordable Housing Asset Management experience, with a strong understanding of property operations, financial analysis, compliance and risk management. Our approach to Asset Management spans the full property lifecycle; successful Asset Managers will demonstrate strong communication skills, a broad base of experience and an ability to manage multiple priorities effectively. Candidates must possess a strong work ethic, an intellectual curiosity for learning and strong working knowledge of affordable housing operations and finance.
- Support day-to-day asset management activities for a defined group of affordable housing properties, under the guidance of a Senior Asset Manager
- Provide analytical and administrative support to the Senior Asset Manager across the region
- Oversee property management or operating partners to ensure execution of business plan; conduct site visits to assess physical condition, operations, and compliance, and ensure timely resolution of action items
- Analyze monthly property reporting (income statement, balance sheet, rent roll, etc.) and meet regularly with regional or site staff to review and course correct where necessary
- Participate in annual budgeting and periodic reforecasting process; monitor performance against budget and explain key variances
- Oversee and monitor loans and regulatory agreements for continued compliance
- Respond to all stakeholder inquiries regarding property operations & performance
- Participate in refinances, recapitalizations, acquisitions, and dispositions of assets
- Take ownership in identifying value-add opportunities and strategies throughout the assets
- Oversee cash management for each property, including tracking capital improvements, managing operating and reserve balances, and annual cashflow distributions. Manage all real estate tax exemptions, including submission of annual filings. Manage database of property valuations and ensure accuracy of tax billings
- Report, track and manage all insurance-related incidents
- Support Loan Conversions on new property deliveries and participate in the transition from development to operations
Qualifications- Bachelor's degree and/or 3-5 years of relevant experience in property management, asset management, or a related real estate role
- Strong understanding of property operations, financials performance and budgeting
- Experience reviewing monthly financial statements and annual operating budgets
- Strong organization skills with an ability to manage multiple deadlines, tasks and assignments
- Complex thinker with intellectual curiosity and a propensity to question established tenets
- Keen attention to detail and innate time management skills
- Suitability to an entrepreneurial culture that places a premium on performance
- Exceptional interpersonal skills to represent the firm in a professional manner externally with third-party partners and their affiliates
- Commercially conscious with an entrepreneurial spirit who demonstrates sound judgment and an aptitude for identifying opportunities and crafting creative solutions
- Highly organized with an ability to process multiple active projects and initiatives simultaneously
- Effective at idea generation, strategic planning and implementation
- Excellent written and verbal communication skills
- Must be a team player but also a self-starter that can perform with limited direction or oversight
- Candidates that have a passion for real estate, a strong work ethic and a desire to advance professionally
- Strong MS Office, Excel, Outlook and Word skills are a prerequisite; experience with database management and/or web-based application development a significant plus
- Familiarity with Southern California Housing Authorities preferred but not required
CompensationThe anticipated base salary range for this position is listed below. In addition to a competitive base salary, you will be eligible to receive discretionary bonus incentives and a comprehensive benefits package.
Anticipated base salary range: $100,000 - $140,000
Actual base salary within the anticipated range will be determined by several components including, but not limited to, the individual's experience, skills, qualifications, and market factors.
