Job DescriptionLOCATION - Atlanta, GA
SCHEDULE - Initially in office Mon-Fri....can move to hybrid after training period.
The Operating Property Asset Manager (OPAM) is the owner's day-to-day point person for a portfolio of stabilized LIHTC properties. The OPAM drives operating performance, ensures continuing LIHTC and lender compliance, manages reserve draw requests and capital projects, oversees leasing & marketing execution to maximize revenue/NOI, prepares quarterly investor commentary and budgets, and coordinates refinancings or dispositions with Portfolio Management. The OPAM also maintains the AHIC Operating Property Risk Ratings in MRI, leads responses to third-party inspection findings and 8823 notices, and partners closely with Compliance, Property Management, Accounting, Legal, and Investor Relations.
Role Overview: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- Own monthly/quarterly property performance: evaluate P&L, occupancy, rent variance vs. budget, concession usage, utility expense trends, and prepare action plans to correct variances.
- Develops and implements action plans to address variances and ensure properties meet or exceed underwritten expectations.
- Ensures LIHTC compliance is maintained working with the Compliance team.
- Prepares quarterly investor commentary and ad-hoc updates.
- Updates AHIC Operating Property Risk Ratings in MRI software.
- Ensures a clean audit trail for inspections, reserve draws, and capital projects.
- 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.
- Oversee leasing and marketing strategies to maximize rents while maintaining target occupancy: evaluate rent comps, make recommendations on concessions, lease terms, and staffing changes; approve marketing expenditures and track results.
- Supports refinancing and disposition efforts by providing accurate operating histories, capital projections, and compliance documentation.
- Champions process improvement and the adoption of AI/automation tools to enhance reporting, compliance, and portfolio monitoring.
Performance Measures (KPIs)- Occupancy, Total Revenues and Net Operating Income (NOI).
- Timeliness and quality of capital project delivery.
- Accuracy and timeliness of investor reporting.
- Compliance response rates and cure timelines.
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 financial analysis and LIHTC program knowledge.
Experience with MRI or similar asset management systems, Excel and comfort with automation/AI tools is preferred.
