Asset Manager

Westward360•Chicago, IL

5h•$70,000 - $80,000•Hybrid

About The Position

Westward360 is looking to add an Asset Manager to join our growing Chicago team. If you want an opportunity to grow with a company on the rise, look no further! We pride ourselves in providing the ultimate experience for our clients. As an Asset Manager, you'll have the opportunity to oversee the financial performance of the company’s managed multifamily real estate assets. This includes developing and executing strategies to increase property income, reduce operational costs, and enhance the overall value of the assets. This role involves close monitoring of market trends, property conditions, and financial metrics to ensure the properties are competitive and profitable.

Requirements

Bachelor’s degree in Finance, Real Estate, or related field; advanced degrees or certifications (e.g., CFA, CRE) preferred or equivalent work experience
Valid Real Estate license is a plus
Knowledge of financial modeling, real estate economics, and property valuation
Strong leadership skills
Strong critical thinking skill
Strong analytical, financial, negotiation, and communication skills
Experience with property management software and financial reporting tools
Ability to multi-task/manage multiple projects
Understand and abide by laws/statutes related to position

Nice To Haves

Valid Real Estate license is a plus
advanced degrees or certifications (e.g., CFA, CRE) preferred or equivalent work experience

Responsibilities

Financial Analysis and Reporting
Develop and manage comprehensive budgets for each property, ensuring all financial planning aligns with overall client investment goals.
Prepare and present quarterly financial reports to investors, highlighting performance metrics, variances from budget, and forecasts.
Provide direction using a pro forma-driven approach, focusing on strategic rent increases, renewals, terminations, and rent adjustments to align with projected financial performance.
Monitor Net Operating Income (NOI), Capitalization Rate (Cap Rate), and budget variances to assess financial health.
Strategic Planning & Operational Management
Develop and facilitate execution of management plans for each asset, focusing on value enhancement opportunities, repositioning, and long-term viability, leading to owner satisfaction and retention.
Identify value-added and additional income opportunities through market analysis and property assessments to increase rental income and asset appreciation.
Integrate cost-effective practices at the building and portfolio level to enhance efficiency and reduce expenses without compromising service quality.
Suggest and implement a preventative maintenance plan that extends the useful life of mechanical and building equipment, ensuring long-term property value.
Report on assigned key performance indicators (KPIs) to identify trends before they become problems and provide proactive solutions.
Market Analysis
Continuously monitor market conditions to assess potential risks and develop mitigation strategies, ensuring the long-term stability and profitability of the property portfolio.
Work with the leasing team to understand market trends in amenities, finishes, building systems, technology, and other factors influencing tenant demand and property competitiveness.
Work with commercial brokers to understand market trends, including cap rates, GRM, and other key metrics to inform investment strategies and property valuations.
Cross-functional Relationships
Collaborate with Property Managers and external stakeholders on strategic plans for asset management that align with overall company goals and adapt to market changes.
Provide a roadmap for Property Managers to ensure that strategic plans are understood and effectively implemented, establishing a collaborative approach to property management.