Asset Manager

Illinois Housing Development•Chicago, IL

100d•$69,488 - $86,860•Hybrid

About The Position

The Illinois Housing Development Authority (IHDA) is seeking an Asset Manager to join its Asset Management department. This department monitors long-term physical, financial, operational, and administrative compliance for IHDA-assisted developments. The specific role focuses on Project Operations Compliance, ensuring properties comply with IHDA loans, grants, or tax credits through various reviews and assessments. The position involves management, occupancy, and tenant file reviews, rent/income limit/utility allowance calculations, and review/approval of affirmative marketing plans, tenant selection plans, and management plans. The Asset Manager will also handle tenant/management relations.

Requirements

Bachelor’s degree required. Experience may be substituted for education at the discretion of the Asset Management department.
At least 2 years’ experience conducting asset management/operational compliance administration for Federally-financed affordable multifamily rental housing developments required.
Proficiency in Microsoft Office Suite required.
Valid Driver’s License: Required.
Access to Personal Vehicle: Required along with appropriate insurance.

Nice To Haves

Thorough knowledge of the following funding sources/programs desired: LIHTC, HOME, Section 8, Risk Share, Tax Exempt Bonds, and Illinois Affordable Housing Trust Fund.
Certified Occupancy Specialist (COS), Tax Credit Specialist (TCS), Blended Occupancy Specialist (BOS), HOME Compliance Specialist (HCS), training required (completed within one year or earliest available date, whichever is later).
Certifications: Certified Occupancy Specialist (COS), Tax Credit Specialist (TCS), Blended Occupancy Specialist (BOS), HOME Compliance Specialist (HCS), Housing Credit Certified Professional (HCCP) preferred.

Responsibilities

Implements proactive strategies to resolve properties’ operational condition compliance issues.
Collects and contributes data to determine annual operations rating.
Conducts initial and ongoing on-site and desk monitoring reviews (including tenant file reviews) of assigned portfolio of projects based on prescribed timeframes (to assess and facilitate compliance with applicable Federal, State, local rules and standards).
Assesses the operational compliance (i.e. management, occupancy) against related regulatory requirements so that the related housing remains affordable, decent, safe, and sanitary.
Prepares and maintains all operational compliance documentation (including compliance monitoring findings, responses, resolutions, reports) as required.
Serves as primary point of contact and relationship manager between owners/agents and Asset Management department.
Proactively communicates with the property owner, manager, agent regarding operational issues, compliance requirements, options and deadlines for resolution.
Appropriately refers troubled properties to the Portfolio Risk Management group.
Participates in pre-occupancy and post-closing discussions and meetings as appropriate.
Participates in regular loan monitoring, watchlist, delinquency meetings as appropriate.
Intakes, responds to, and resolves tenant inquiries or complaints in coordination with owner/agent.
Intakes, responds to, and resolves owner/agent inquiries or complaints.
Performs other duties and handles other special projects/initiatives as assigned.