San Francisco, CA, USA
Job Title: Senior Asset Manager
Location: San Francisco. Hybrid.
Department: Asset Management
Reports To: Director, Asset Management
Job Status: Exempt, Full-Time
Compensation: $110,000.00 to $125,000.00 per year, DOE; medical, dental, vision & retirement plan To Apply: Send cover letter and resume to firstname.lastname@example.org
Note: Vaccination against COVID-19 is not a requirement of the job, but it is optional and strongly recommended.
About the Role
Under the direct supervision of the Director of Asset Management, the Senior Asset Manager will be responsible for maintaining Mission Housing’s high-quality assets and for the design and implementation of strategies within the multifamily unit. The individual will oversee the third-party property management company, possibly supervise other Asset Managers in the future, and lead teams involved in the strategic management of Mission Housing’s portfolio of apartments and other residential buildings.
The objective of this role is to optimize the performance of the portfolio by thinking mid-term to long-term while accomplishing short-term projects. This position requires the candidate to provide high level financial, physical, regulatory and administrative services for Mission Housing’s multifamily affordable rental communities, while functioning independently, and reporting clearly, with recommendations to the Director of Asset Management.
The Senior Asset Manager will customarily and regularly exercise discretion and independent judgment in the following job duties:
· Independently monitor the activities of property management firms responsible for the daily operations of the properties, and report significant information to the Director of Asset Management.
· Lead and monitor the third-party property management company in the performance of lease-ups in both new construction and occupied rehabs.
· Identify, evaluate and recommend capital improvement and replacement projects in the agency’s operating portfolio, including potential energy efficiency retrofits.
· Manage LIHTC (low income housing tax credits) capital accounts through annual analysis and exit tax projections; exit limited partner.
· Collaborate with development and finance teams to identify opportunities for rehab and re-syndication; work with Mission Housing’s team to accomplish goals for portfolio, new construction and acquisitions; establish a feedback loop with the current Asset Manager and project development team to capture learnings from portfolio investigations; collaborate with Resident Services on a continual basis to help ensure current services are effective and practical.
· Represent Mission Housing’s ownership concerns and coordinate with property managers, project managers and other development team members to ensure that lease-up, marketing and outreach and maintenance of waiting lists are handled in accordance with the management plan, Mission Housing’s policies and all regulatory requirements; ensure that goals for development are met on time.
· Work collaboratively to create and refine reporting procedures, database and other informational systems to collect data, track projects, enhance communication and distribute to Mission Housing management.
· Directly supervise Asset Manager(s) possibly in the future and provide necessary training.
· Review and analyze monthly property financial statements for reporting to the Executive Director and Board of Directors, as requested.
· Review annual operating budgets to ensure implementation of multi-year plans and coordination with property management.
· Ensure properties are meeting financial goals as projected and required under all agreements and regulations.
· Contribute to preparation of audited financial statements, i.e., related party fees, contingent liabilities, reserves, and surplus cash analysis and distribution and ensure surplus distributions are made correctly and on a timely basis.
· Represent Mission Housing to stakeholders, partners, lenders, property managers, vendors, residents and community members as needed, with an above average level of understanding, and supporting our mission, vision and values.
· Create asset management plans for Mission Housing’s operating portfolio.
· Perform site inspections and oversee physical risk management.
· Manage insurance for Mission Housing-controlled portfolio, including claims, setting deductible and coverage levels, and all other insurance-related issues.
· Oversee the creation, collection, and maintenance of physical specifications with the goal of maintaining the integrity of the original designs, while updating and greening the product.
· Lead and perform due diligence on proposed new acquisitions, and make recommendations to the Director of Asset Management on new acquisitions and projects.
· Research partnership agreements, financing documents, regulatory agreements, tax returns, and other source documents to determine constraints and barriers to long-term needs.
· Monitor property commercial spaces and work with brokers to market and negotiate leases with prospective tenants, as needed.
· Negotiate with partners and/or lenders, as needed, to amend agreements.
· Facilitate approval processes with lenders and/or investors, as needed.
· Prepare and review all reporting information due to investors/lenders.
· File welfare exemptions and business entity forms.
· Complete other tasks as assigned related to real estate asset management, policy development, budgets, planning, maintenance of records and systems and administration.
· Perform other duties as considered appropriate and consistent with the mission of Mission Housing, including working at occasional community-building activities, programs and events, as needed, during business hours or on weekends.
· Education: Bachelor's degree in real estate, finance, business, or related field strongly preferred
· Experience working in affordable housing with multiple layers of funding required
· Minimum of three year of real estate and/or property management experience, preferably within affordable housing or multifamily real estate with exposure to commercial real estate
· Certified Property Manager (CPM) of Certified Housing Asset Management (CHAM) designation is strongly preferred
· Able to negotiate
· Strong time management and organizational skills with attention to detail, and technical project management
· Advanced proficiency in MS Office suite and property management software i.e. YARDI
· Excellent written, verbal communication and relationship management skills
· Extensive problem solving and flexibility while remaining focused on solutions
· Experience supervising others strongly preferred.
· While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms and talk or hear. The employee is occasionally required to stand, walk and drive.
· The employee must occasionally lift and/or move up to 20 pounds.
· The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
· The noise level in the work environment is usually quiet to moderate. However, construction sites may be noisy and appropriate measures should be taken to protect hearing and health on job sites.
**Disclaimer: The employer reserves the right to change or assign other duties including rotating sites if necessary.
Mission Housing Development Corporation is an equal opportunity employer and does not discriminate against any employee or applicant for employment because of race, color, ethnic background, religion, sex, sexual orientation, age, national origin, or disabilities. Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
Please let us know if you need any special accommodations.
Mission Housing Development Corporation is a drug free work place as required by the “Drug-Free Workplace Act of 1988”
Compensation: $110,000.00 to $125,000.00 per year, DOE; medical, dental, vision & retirement plan
To Apply: Send cover letter and resume to email@example.com.
About the Company
Mission Housing Development Corporation is a private non-profit housing developer founded in 1971. Mission Housing develops high-quality, well-managed, affordable, and sustainable communities that promote the self-sufficiency of low- and moderate-income families, seniors, and persons with diverse needs. We offer technical assistance to service providers to help them develop affordable housing that meets the needs of special populations with a comprehensive vision of community. We own approximately 44 affordable housing buildings serving over 3,300 residents with diverse ethnic and cultural backgrounds in San Francisco.