Asset Manager

Bear Property Management • Milwaukee, WI

8h

About The Position

The Asset Manager position functions as part of both asset and finance management team and will work directly with third-party management representatives who oversee Bear Real Estate Groups owned assets. The Asset Manager will monitor, evaluate, and support portfolio key performance tracking. They will work as a liaison, sharing pertinent information to ownership as well as ensuring 3rd party performance meets expectations and financial metrics. Communication with lenders, investors, the U.S. Department of Housing and Urban Development (“HUD”), contract administrators and owners will be needed. Experience with LIHTC, HUD, Section 42, PBV, RAD, Section 8 and other relevant housing programs or state agencies as required. Expertise in compliance policies required with the ability to regulate or enforce compliance as needed as the Asset Manager is accountable for identifying risks, tracking inspections and audits and ensuring assets perform to investment and regulatory standards.

Requirements

• Ability to work collaboratively and independently on multiple projects.
• Excellent interpersonal, written, and oral communication skills.
• Ability to solve practical and complex problems by utilizing internal and external resources.
• Advanced skills in Microsoft Excel and Real Page Asset Investment Management, Power Business Intelligence, or Revenue Management is a plus.
• Bachelor’s degree in business, finance, real estate, or related field.
• 5+ years of experience in multifamily housing, with specific experience in LIHTC and HUD multifamily housing asset management.
• Knowledge of HUD 4350.3, RAD PBRA/PBV, Section 8 programs, MORs, NSPIRE inspections, and HUD contract management (HAP/CHAP, rent adjustments, OCAF).
• Experience overseeing or working with third-party management companies.
• Strong financial analysis, reporting, and communication skills.

Nice To Haves

• COS, HCCP, CPM, BOMS or similar industry certifications preferred.

Responsibilities

• Serve as Owners representative for all multifamily properties that are manages by third-party property management companies. This property set includes properties that have HUD involvement by way of Section 8 housing assistance payment (“HAP”) contracts (i.e. RAD, PBRA, RAB PBV, project based Section 8) as well as state housing agency oversight through the low income tax credit (“LIHTC”)program.
• Monitor outcomes of HUD and LIHTC reviews (e.g. MORs, NSPIRE inspections, and HUD/CA audits); ensure corrective actions are completed by management agents
• Track and monitor all Section 8 HAP contracts for annual renewals to ensure timely action.
• Oversee annual rent adjustment processes for Section 8 HAP contracts, ensuring the property management companies follow HUD protocols for rent increases, utility analyses, and utility allowance implementation.
• Analyze operating performance versus approved operating budgets to identify risks or variances, and escalate concerns.
• Collaborate with ownership and investors on HUD and LIHTC compliance and performance updates.
• Oversee replacement reserve funding, replacement planning, and capital expenditure needs across sites.
• Develop performance benchmarks and hold management companies accountable through scorecards, KPIs, and contract reviews.
• Provide recommendations to ownership regarding property management company contract renewals, corrective actions, and performance issues.
• Evaluate key performance indicators (KPIs), including occupancy, rent growth, expense control, and delinquency.
• Benchmark performance against internal portfolios and industry standards.

Benefits

• 401(k) with company match
• Annual merit-based increases
• Comprehensive medical, dental, vision, life insurance, Long-Term Disability, and FSA and HSA options.
• Generous paid time off
• 8+ paid holidays
• Short Term Disability, Accident, Critical Illness, and Hospital Indemnity.
• Ongoing education, leadership training, and advancement opportunities across all departments.
• Annual employee appreciation events, team outings, and company-wide recognition programs.
• Eligible for performance-based bonuses.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level