Asset Manager, Related California
About The Position
Related California is seeking an Asset Manager to oversee approximately 25 affordable housing properties in Southern California. This full-time position is based in Related’s Newport Beach office and reports to a Senior Asset Manager. The role involves supporting day-to-day asset management activities, providing analytical and administrative support, overseeing property management partners, analyzing monthly financial reporting, participating in budgeting and reforecasting, monitoring loans and regulatory agreements, responding to stakeholder inquiries, participating in financial transactions (refinances, recapitalizations, acquisitions, dispositions), identifying value-add opportunities, overseeing cash management, managing insurance claims, and supporting loan conversions for new property deliveries. The team operates in a highly entrepreneurial and collaborative environment, managing a large and growing portfolio of properties.
Requirements
- Bachelor’s degree and/or 3-5 years of relevant experience in property management, asset management, or a related real estate role
- Strong understanding of property operations, financials performance and budgeting
- Experience reviewing monthly financial statements and annual operating budgets
- Strong organization skills with an ability to manage multiple deadlines, tasks and assignments
- Complex thinker with intellectual curiosity and a propensity to question established tenets
- Keen attention to detail and innate time management skills
- Suitability to an entrepreneurial culture that places a premium on performance
- Exceptional interpersonal skills to represent the firm in a professional manner externally with third-party partners and their affiliates
- Commercially conscious with an entrepreneurial spirit who demonstrates sound judgment and an aptitude for identifying opportunities and crafting creative solutions
- Highly organized with an ability to process multiple active projects and initiatives simultaneously
- Effective at idea generation, strategic planning and implementation
- Excellent written and verbal communication skills
- Must be a team player but also a self-starter that can perform with limited direction or oversight
- Candidates that have a passion for real estate, a strong work ethic and a desire to advance professionally
- Strong MS Office, Excel, Outlook and Word skills are a prerequisite
Nice To Haves
- Experience with database management and/or web-based application development a significant plus
- Familiarity with Southern California Housing Authorities preferred but not required
Responsibilities
- Support day-to-day asset management activities for a defined group of affordable housing properties, under the guidance of a Senior Asset Manager
- Provide analytical and administrative support to the Senior Asset Manager across the region
- Oversee property management or operating partners to ensure execution of business plan; conduct site visits to assess physical condition, operations, and compliance, and ensure timely resolution of action items
- Analyze monthly property reporting (income statement, balance sheet, rent roll, etc.) and meet regularly with regional or site staff to review and course correct where necessary
- Participate in annual budgeting and periodic reforecasting process; monitor performance against budget and explain key variances
- Oversee and monitor loans and regulatory agreements for continued compliance
- Respond to all stakeholder inquiries regarding property operations & performance
- Participate in refinances, recapitalizations, acquisitions, and dispositions of assets
- Take ownership in identifying value-add opportunities and strategies throughout the assets
- Oversee cash management for each property, including tracking capital improvements, managing operating and reserve balances, and annual cashflow distributions. Manage all real estate tax exemptions, including submission of annual filings. Manage database of property valuations and ensure accuracy of tax billings
- Report, track and manage all insurance-related incidents
- Support Loan Conversions on new property deliveries and participate in the transition from development to operations
Benefits
- Competitive base salary
- Discretionary bonus incentives
- Comprehensive benefits package
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
