Position Summary: This position is responsible for overseeing all asset management activity, thus ensuring that all owned assets are managed, financed, operated, and physically maintained to optimum potential.
Ensure optimal operation and performance of each asset through development and execution of strategic business plans, ongoing management reviews, accounting forensics, and operating expense trends.
Maintain in-depth knowledge of HUD, RD, tax credit, and state HFA regulatory policies and procedures, and provide internal technical training and assistance with budgets and regulatory compliance, as necessary.
Manage capital needs assessments, including understanding the physical condition of properties, forecasting capital plans and budgets, and monitoring reserve levels. Ensure positive financial plans through the review, approval, and analysis of annual operating budgets.
Establish performance benchmarks for properties, monitor ongoing performance, and compare results against initial projections and market forces. Development and maintain the integrity and quality of property data systems.
Monitor, analyze, and report on audited financial statements, financial performance, and current and historical financial and program performance, including providing periodic updates.
Develop and implement exit strategies for tax credit properties at or near year 15, making recommendations for dispositions as necessary. Prepare updates for third party investor reports and client reporting, as applicable.
Through market research and periodic site visits, maintain an understanding of the rental market in general, and Avesta properties in relation to the market. Coordinate asset management departmental activities with internal and external customers and vendors.
Supervise, train, and evaluate Asset Management Associate.
Participate on committees as assigned.
Other duties as assigned.
Bachelor’s Degree in related field, or commensurate combination of education and work experience.
Minimum of 5-10 years of real estate and asset management experience with focus on affordable housing.
Strong organizational skills with exceptional attention to detail, ability to multi- task, and think systematically and strategically in developing and refining procedures and systems to meet business objectives.
Extensive knowledge of HUD, RD, state HFA, and tax credit regulatory compliance.
Demonstrated expertise and knowledge of property management policies, procedures and systems.
Experience with HUD, RD, tax credit and conventional financing mechanisms.
Knowledge of the multi-family housing environment and market.
Demonstrated ability in interpersonal and business communications and a collaborative approach and respectful relationship style with colleagues and consultants.
Sound fundamental knowledge of accounting, financial analysis, and real estate valuations.
Experience in reading and interpreting contractual agreements.
High proficiency in information technology tools, primarily database programs and Microsoft Office products including Excel, Word and PowerPoint.