Title: Asset Manager
Manager: Director, Asset Management
Status: Full Time, Exempt
Location: Irvine, CA
We’re looking for dedicated team members to join Orange County’s largest nonprofit developer of high quality affordable housing and services that transform lives and strengthen communities.
Primary Objective of Position:
The Asset Manager works under the direction of the Director, Asset Management to act as a liaison with property management agents, lenders, and permanent supportive community partners. This position will be assigned a portfolio of properties and will assist with setting specific asset management objectives and goals. The Asset Manager oversees property operations, including permanent supportive housing, to ensure that all properties assigned maintain a strong financial position, comply with contractual, regulatory and statutory requirements, and completes all internal and external reporting requirements in an accurate and timely manner. The Asset Manager is responsible for annual budgeting, oversight of capital improvement projects, property claims, lender and investor reporting, maintenance of the database, financial analysis, funding applications, refinancing and initiating limited partner buyouts and year 15 discussions.
Major Areas of Accountability:
•Monitors the fiscal status of all communities assigned –including monthly financial statement review, monitoring vacancy, ad-ministration of reserves, implementation of solutions for properties which are not meeting performance targets, and governing documents compliance
•Researches partnership agreements, financing documents, regulatory agreements, tax returns, audits and other source documents as needed
•Administers the physical improvement plan of all communities assigned –includes PNAs, long term improvement plans, re-serve withdrawal processing, oversight of capital improvements, disaster contingency plans
•Manages and evaluates third party property management companies
•Ensures and supports timely and accurate reporting to investors, lenders, agencies, corporate boards
•Manages the lease-up process for newly developed properties, creates rent schedules, reviews marketing plans and lease-up office leases, coordinates these efforts with third party property management companies and ensures that rents and tenant mix is in compliance with governing documents
•Participates in the development process for new properties –including review of selected materials and proposed operating budgets
•Participates in sustainability initiatives for assigned portfolio
•Responsible for annual property processes –including preparation of operating budgets, site inspections, filing of welfare ex-emptions, OCC’s and SCC’s and 1stfilings and resident demographic and satisfaction surveys
•May supervise and train asset management staff
•Support asset management staff on newly acquired properties pertaining to funding applications, expense comparisons, welfare exemptions, replacement reserve requests, and management agent agreements.
•Maintains databases and collection of demographic data on residents
•Other duties as assigned
Level of Education, Experience and Skill Set:
•Bachelor’s degree or equivalent
•Five plus years’ experience with some years of permanent supportive housing experience
•Tax credit compliance certificate preferred
•Knowledge of municipally financed multifamily projects, tax credits and HUD
•Experience in affordable housing, fair housing laws, property management/operations and practices. Mobile home law experience preferred.
•Knowledge of methodologies for budgeting and cash forecasting, financial analysis and portfolio asset management practices
•Skilled in usage of spreadsheet and word processing computer software
•Detail oriented with a good, strong ability to think and communicate strategically
•Strong verbal and written communication skills; including ability to effectively give presentations
•Valid California driver’s license, clean DMV record and personal insured vehicle for travel within Jamboree’s service area
•Job may include occasional evening or weekend work hours
•Job will include travel to assigned portfolio and trainings
Physical Demands: The Asset Manager is required to talk and hear. The employee is often required to sit and use their hands. Vision abilities required by this job include close and far vision. Ability to operate a computer keyboard, and lift files and reports. Exposure to glare from a computer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Must be able to lift 25 lbs. and travel via automobile and/or plane 30%.
Work Environment: The work environment will usually be in a professional office setting, with possible shared workspace. The noise level is usually quiet to moderate. When traveling the environment will change dependent upon the site visiting.