Asset Manager

Affiliated Resources Group•Decatur, GA

About The Position

The Asset Manager is responsible for increasing cash generated from operations, understanding partnership agreements, and ensuring properties remain in good standing with all compliance requirements. This role involves overseeing a portfolio of properties, monitoring performance against budgets, and developing operating forecasts. The Asset Manager will also review financial statements, tax returns, and audits, and provide information for internal and external presentations. They will participate in pipeline discussions, facilitate project lifecycle transitions, and conduct site visits. A key aspect of the role is anticipating and preventing liability risks by monitoring operational and financial matters, including legal issues, insurance, and property taxes. The Asset Manager will collaborate with internal departments to develop asset management plans and set operating benchmarks, and prepare Board reports. They will act as an owner representative, coordinating responses to investors and lenders, and negotiating with partners to ensure the long-term health of the properties. This role also involves maintaining internal control systems, ensuring transparency in financial reporting, and staying updated on relevant laws, policies, and HUD regulations. Promoting equal opportunity and compliance with all relevant legislation is also a responsibility.

Requirements

Bachelors degree in Finance, Accounting or Economics or related field with experience
Previous experience in real estate where processing transactions and management of details are important
Must possess sound judgment and decision-making skills with a strong ability to self-manage, drive objectives and meet deadlines
Solid business acumen required, as well as, the ability to work cooperatively and collaboratively at all levels, internally and externally, to maximize performance and results
Must be forward thinking with the ability to improve operational efficiencies
Ability to multi-task and exhibit strong organizational and project management skills is required
Must excel in a high stress deadline oriented environment
Authorized to work in the United States
Working (intermediate or better) knowledge of Microsoft Office Suite especially Excel

Nice To Haves

Expereince with LIHTC program is helpful but not required
Yardi Experience is a plus (if not a requirement)

Responsibilities

Project and work to increase cash generated from operations
Understand LPA, waterfall and GP responsibilities for timely distributions to HDC and partners
Understand financing, affordable programs and regulatory requirements
Provide oversight for the portfolio to remain in good standing with the applicable file and physical compliance requirements in governing documents such as loans, partnership agreements, tax credit allocations, affordability restrictions, etc.
Monitor and report on property management capacity and performance
Organize/Monitor data and workflow systems in use at corporate office and at sites to track and plan for critical events
Measure and manage property performance against projections and annual budgets
Develop project operating forecasts to determine potential operational challenges, corrective actions, and opportunities for improvement
Review and approve annual property budgets
Review monthly and quarterly operating statements
Review tax returns and audits for portfolio properties
Respond to questions from lenders, partners, or other approving agencies on property financials
Provide information for internal, board and external presentation of property and portfolio performance and strategic outlook on long term operations
Participate in pipeline discussions of prospective projects and feasibility
Create/review operating projections
Facilitate in project lifecycle transitions (Development to Operations, Re-syndication, Dispositions, etc.)
Work with HDC’s development department to prioritize and advance necessary funding requests and applications
Site visits, curb stops, preventive maintenance contracts, maximizing rents, controlling expenses, marketing, reserve analysis, reserve draws, long-term capital plans
Anticipate and prevent liability risks through monitoring of operational and financial matters: Legal issues and contracts insurance property tax issues/exemption utility consumption, security neighborhood issues
Bring Asset Management perspective into communications with internal staff and external parties to achieve property goals
Work cross-functionally with other departments within HDC to develop and implement annual asset management plans, set operating benchmarks, and achieve defined property goals consistent with HDC’s strategic plan
Participate in review and development of owner standards for condition of units, buildings, and site within budgetary limitations
Prepare Board reports on portfolio performance, trends, goals, events, etc.
Connect with funders, investors and local partners as owner representative for HDC, developing trust and building consistent and constructive problem-solving approaches
Coordinate all responses to questions from investors/lenders on assigned portfolio
Meet investors during site visits where feasible and on troubled properties
Negotiate with partners and/or lenders to ensure the long-term physical and financial health of the properties
Maintains internal control system to ensure integrity of data and works to achieve transparency in accounting and financial reporting processes
Keeps abreast of changes in laws, policies, and HUD regulations related to property operations and ensures adherence to appropriate policies, procedures, regulations, and guidelines
Promotes equality of opportunity in all aspects of employment, housing management, maintenance, and service delivery, and ensures compliance with all relevant legislation; ensures that qualified individuals are not excluded from participation in, denied the benefits of, or are subjected to discrimination under any program or activity.