Asset Manager

Brilliant Corners•Los Angeles, CA

1d•Hybrid

About The Position

Brilliant Corners' Real Estate Division develops, owns, and manages supportive housing for vulnerable, extremely low-income Californians. The division includes over 100 employees, with teams dedicated to the development and management of licensed residential care homes for people living with developmental disabilities and of multifamily permanent supportive housing. Our licensed residential care portfolio consists of over 300 single-family homes leased to on-site service providers in a mix of “full-service” and modified triple-net leases, with another 40+ homes in development, comprising the largest portfolio of nonprofit-owned, deed-restricted community-based housing for Californians with intellectual and development disabilities transitioning or deflected from institutional settings. Our growing multifamily permanent supportive housing portfolio consists of two small sites in San Francisco and LA, plus four new LIHTC and Homekey developments in Los Angeles County totaling 248 units of permanent supportive housing. Our current assets include approximately $250MM in real estate owned. The Asset Manager supports the duties of Brilliant Corners' Asset Management Department and helps to oversee a diverse housing portfolio that includes properties in development, newly stabilized assets, and long-standing communities. Responsibilities include financial analysis, regulatory compliance, operational oversight, and performance optimization to achieve project objectives. Under the guidance of the Director of Asset Management, the Asset Manager is responsible for the day-to-day execution of asset management strategies and initiatives, ensuring alignment with organizational goals and portfolio objectives. The Asset Manager promotes best practices in asset management informed by the principles of Permanent Supportive Housing (PSH), person-centered housing, Housing First, and CMS Home and Community-Based Services (HCBS) Waiver guidelines, helping to create fiscally sound, compliant, and thriving supportive housing communities. Additionally, the Asset Manager supports funder reporting, quality assurance activities, service provider coordination, and community relations efforts to ensure effective portfolio performance and stakeholder engagement.

Requirements

Experience in affordable housing, including LIHTC, HUD, HOME, Section 8, or other subsidized housing programs.
Experience conducting financial analysis, forecasting, or budget variance analysis.
Exposure to real estate development, acquisitions, underwriting, or asset management.
Experience preparing reports, presentations, and recommendations for management.
Experience working with nonprofit organizations, community development corporations, or mission-driven housing organizations.
Basic understanding of affordable housing programs, including Low-Income Housing Tax Credit, HUD, and other federal, state, and local housing programs.
Knowledge of real estate and multifamily housing operations.
Understanding of financial statements, budgets, cash flow, and property performance metrics.
Strong analytical and problem-solving skills.
Effective written and verbal communication skills.
Attention to detail with a high degree of accuracy.
Ability to analyze property performance and identify trends, risks, and opportunities.
Valid California driver's license, personal vehicle, and insurance

Nice To Haves

Dealing with Ambiguity: Remains productive and effective in uncertain, rapidly changing situations by quickly analyzing information to adapt approach. Demonstrates flexibility, composure and good judgment despite challenges
Priority Setting: Focuses on highest impact priorities advancing strategic objectives. Aligns resources, eliminates roadblocks, and provides direction through a compelling vision
Decision Quality : Demonstrates sound judgment by analyzing information, proposing practical solutions, and resourcefully overcoming obstacles. Seeks guidance when needed to ensure quality outcomes
Planning: Proactively plans and organizes work to achieve goals efficiently. Monitors progress, prioritizes competing demands, and persists despite setbacks

Responsibilities

Monitor the financial and operational performance of assigned affordable housing properties.
Review monthly property management reports, rent rolls, occupancy reports, and financial statements.
Track property performance against budgets and identify variances for further review.
Assist in preparing portfolio performance summaries and dashboards.
Analyze property operating statements, cash flow reports, and budget-to-actual comparisons.
Track reserve balances, replacement reserves, and operating accounts.
Assist with annual budget reviews and financial forecasting.
Support refinancing, recapitalization, and acquisition analyses through data collection and financial modeling.
Monitor compliance deadlines for loan agreements, regulatory restrictions, and affordable housing programs.
Assist with LIHTC, HUD, HOME, and other program reporting requirements.
Maintain organized property files and compliance records.
Support responses to audits, lender requests, and agency monitoring reviews.
Serve as a liaison between property management teams and ownership.
Review occupancy, delinquency, maintenance, and work-order reports.
Escalate operational concerns to senior asset management staff.
Participate in regular property inspections and management meetings.
Track capital improvement projects and rehabilitation activities.
Monitor project budgets, schedules, and vendor reporting.
Assist with capital needs assessments and long-term capital planning.
Maintain asset management databases and reporting systems.
Update property financial and operational data monthly.
Generate routine reports for management, lenders, investors, and board committees.
Ensure data accuracy and completeness.
Assist with communication among property managers, lenders, investors, consultants, and government agencies.
Help coordinate reporting submissions and document requests.
Support preparation of presentations and materials for internal and external meetings.