Job DescriptionThe Asset Manager is responsible for the overall performance of a portfolio of residential assets with the purpose of creating asset value through execution of an investment strategy on a short, intermediate and long-term basis.
This position has responsibility for the execution of the investment strategy, re-evaluated annually. Throughout the year, the Asset Manager is responsible for monitoring the performance of each asset to ensure annual goals and overall strategy are achieved and that the assets are properly operating and positioned in the market.
Asset Managers are experts in the property types in which they specialize and the markets in which they operate. They are expected to build and maintain strong working relationships with municipalities, operating partners, and property managers as well as with key brokers, leasing agents and other contacts that operate in their markets.
PR/IP
ResponsibilitiesPRIMARY DUTIES & RESPONSIBILITIES:- Develop annual asset business plans and operating/capital budgets to achieve investment strategies
- Justify economically and qualitatively the appropriateness of maintenance/capital expenditures
- Recommend higher utilization of assets and methods to increase overall return, including possible sales
- Prepare accurate financial valuations and market/accounting analyses to support business plans and budgets
- Ensure accurate monthly financial reporting and other accounting information on managed assets including payments made/received, and analyze variances with annual budgets
- Select, direct, and evaluate property managers, leasing agents and other third-party service providers to achieve goals established in the investment strategy
- Maintain a reliable asset-level information system as it relates to the central filing system, various contracts, management reports, analyses and other documents or materials pertaining to the asset
- Quickly resolve day-to-day management problems
- Prepare financial analyses and property valuations, including cash flow modeling, and prepare effective presentations for the executive team and potential clients
- Prior to any acquisitions of new or related party transfers, determine the effort and structure of property management necessary in coordination with related parties or others involved in the transaction
- Support in monitoring NOI performance, capital projects and various other responsibilities
- Be familiar with and follow approved policies and procedures as set forth by the organization
- Conduct property site visits to monitor property performance, manage execution of property goals and objectives, determine capital needs and analyze market
QualificationsPOSITION REQUIREMENTS & QUALIFICATIONS:- Member of the Church of Jesus Christ of Latter-day Saints and currently temple worthy
- Bachelor's degree in economics, accounting, finance, or related field; MRED/MBA strongly preferred
- 5+ years experience as an Asset Manager of residential and/or hotel properties strongly preferred
- Fundamental understanding of real estate finance, economics, market analysis accounting principles
- Ability to select and manage the activities of internal resources and third-party service providers
- Ability to make effective decisions in response to changes in real estate markets
- Strong analytical skills and grasp of time-value-of-money concepts
- Sound understanding of relevant real estate accounting and legal documentation
- Excellent verbal and written communication skills, including negotiation and facilitation of group presentations
- Strong work ethic, an entrepreneurial spirit; passion for excellence and desire to learn.
- Ability to prioritize assignments to meet numerous deadlines
- Strong knowledge of principles and processes for providing customer and personal services, including assessment of customer needs, meeting quality standards for services, and evaluation of customer satisfaction
- Superb interpersonal skills, including the ability to quickly build rapport with both internal and external customers
- Innovation and problem-solving skills that include the ability to develop and propose solutions for clients
- Some travel required
