Primary Responsibilities Include:
- Provides financial oversight of the property in context of the overall portfolio, including drafting the initial business plan, provide guidance on operating budgets and 5 year cap-ex plans to meet or exceed business plan goals, monitoring the monthly financials to assess performance against budget. Acts swiftly to address budget variances exceeding 5%. Fully understands the economics of a deal and continuously seeks to optimize value.
- Drafts timely, detailed and accurate reporting by synthesizing relevant information and extracting data from several sources for both internal use and external investor reporting on a quarterly and annual basis. Meets or exceeds all deadlines. Produces effective and accurate reporting that requires only strategic input from Managing Director.
- Is the liaison between ownership and property management. Ensures property management is operating to the budget and is responsible for the property managers' performance. In the instance that the property is transferred from one management company to another, the asset manager assists in the transition. Can resolve challenges with strategic input from Managing Director.
- Visits stabilized properties no less than quarterly and transitional properties no less than monthly. Assesses the general physical condition of the building systems, housekeeping and grounds. Confirms effectiveness and efficiency of property site staff. Responsible for overall execution, including scope, design, budget and on-time completion of capital improvements in conjunction with the assigned project management staff. Has a deep understanding of Company goals and missions in rehabbing buildings.
- Understands that Asset Management requires after hours monitoring and accessibility. In the event of crisis management, determines how to proceed in partnership with the property. In real time, conveys the issues to executive team and to investors as appropriate. Confers with Managing Director on public relations.
- Monitors the leasing and marketing of the property. Provides guidance to property management on occupancy issues and advises on changes to rental rates and offered concessions. Reviews property marketing materials. Seeks market data and assesses comparable properties on a regular basis. Has a strong command of the company brand.
- Leads the refinancing and disposition of properties and is responsible for the successful completion of the transaction. Drafts sales /refinance analyses in conjunction with the asset management analyst and is responsible for making the recommendation to the investment committee. Takes the lead on identifying lenders, brokers or other third parties required in the transaction and takes the lead on related communication.
- Contributes to the Asset Management Practice as a whole by providing mentorship to other team members, leads and completes portfolio, practice and / or organizational initiatives that result in wide spread positive results. Publicly represents the company well, embraces its mission and effectively communicates to the communities in which we develop and within the real estate industry.
Bachelors or better in Accounting or related field.
Bachelors or better in Finance or related field.
Bachelors or better in Real Estate or related field.
3-4 years: Experience in Real Estate and HUD or State Housing Authority