Multifamily Asset Manager (2413)

AG Living LLC • Dallas, TX

1d • Onsite

About The Position

The Multifamily Asset Manager will work closely with the Vice President of Asset Management and CFO to provide operational oversight and ensure the success of business plans across a portfolio of 7 to 10 Class B & C multifamily properties. This role is focused on operational leadership, including leasing performance, tenant relations, rent collections, and executing value-add renovation strategies. The Asset Manager will collaborate with property management teams, construction teams, and senior leadership to drive NOI improvement and tenant satisfaction. Candidates should have 3-5 years of experience in multifamily operations, particularly with Class B & C assets. This role requires hands-on operational management to enhance property performance and value. VALUES MODELED: All employees are expected to bring our values to life every day by demonstrating: RESPECT: Treat people with courtesy and kindness, valuing inclusion and diversity. ACCOUNTABILITY: Honor commitments, focus on delivering solutions, and take ownership of responsibilities. INTEGRITY: Act with honesty, honor, and transparency in all activities. SERVICE: Be socially conscious, proactive thinkers, committed to improving well-being. EXCELLENCE: Strive for excellence, adapt, innovate, and exceed expectations.

Requirements

• Bachelor’s degree in Real Estate, or a related field.
• Extensive experience managing operations for Class B & C multifamily assets is required, with a focus on leasing, tenant relations, renovations, and maximizing NOI.
• Strong analytical and financial management skills
• Excellent communication and interpersonal abilities
• Proficiency in property management software, knowledge of real estate laws and regulations.
• Excellent written and verbal communication skills. Must be able to clearly convey complex financial information to various stakeholders, tenants, and team members.
• Strong quantitative skills and demonstrated analytical ability. Must be able to utilize data and financial analysis to identify trends, risks, and opportunities for asset optimization.
• Strategic Thinking: Develop and execute strategic plans to enhance property performance and value.
• Communication: Effectively communicate with stakeholders, tenants, and team members.
• Adaptability: Respond effectively to changes in the real estate market and industry dynamics.
• Problem-Solving: Identify and address challenges to ensure smooth property operations.
• Ethical Conduct: Uphold high ethical standards and integrity in all real estate activities.
• Professional Development: Stay informed about industry trends and best practices through continuous learning and professional development.

Responsibilities

• Asset Portfolio Management: Conduct weekly asset performance calls with the operations team to analyze the previous week’s results related to leasing, renewals, delinquency, expense management, rents, and capital projects and give guidance to operations as well as the Vice President of Asset Management on how to address any areas of concern and create additional means to maximize NOI. Conduct monthly financial reviews to include P&L Statements, Balance Sheets, Aged Receivables, and Accounts Payable. Deliver guidance to accounting and operations on ways to improve the accuracy and timing of reporting. Conduct weekly site visits and complete a detailed and thorough review of operations on the ground. Detailed notes will be recorded, and thoughtful feedback will be given on strategies to improve areas of concern and maximize NOI. This will include physical inspections of grounds, maintenance shops, amenities, and vacant units as well as in-person discussions with property managers to understand both challenges faced and how to overcome them as well as finding methods to maximize NOI. Work closely with the construction and operations teams to monitor capital project progress and ensure that all rent premiums are entered into management software. Identify new programs to implement that can reduce expenses and/or maximize income. These programs can be specific to an individual property or can be for the larger portfolio. Work with operations to create and deliver annual operating budgets. Work with insurance brokers to analyze property insurance products that can reduce costs, deliver policy renewal documents to servicers/lenders, and work with adjusters/carriers to ensure timely submission of documents for claims. Work with 3rd party consultants to file property tax appeals and pursue litigation, monitor county appraisal district websites for changes in tax rates, and work with servicers/lenders to ensure timely payment of taxes.
• Financial Analysis and Reporting: Analyze Weekly WAR (Weekly Activity Reports) models and update the Vice President of Asset Management on property trends and thoughts on how to address areas of concern. Analyze the monthly Executive Summary Dashboard and give guidance to operations on what areas need improvement along with strategies on how to improve. Complete monthly investor reporting packages and deliver thoughtful and detailed updates that give insight into what each asset is doing. Analyze the monthly Hold-Period Analysis model to track performance against underwriting and the annual budgets. Use the analysis to find ways to manage expenses, increase income, improve RUBs and other income, and maximize NOI. Update the monthly cash position model to include the most recent finalized financials, operating cash balances, escrow accounts, Real Estate taxes, property insurance, and projected cash flows. Deliver analysis to the Vice President of Asset Management and CFO along with notification of any issues or areas of concern including but not limited to cash runways, and shortfalls. Analyze the Key Performance Indicator model monthly to identify areas of concern and guide operations on ways to improve such as other income generators, RUBs, leasing/marketing optimization, and expense management. Regularly complete market surveys to understand what competitors are doing and give guidance to operations to remain competitive.
• Tenant Relations: Monitor tenant review websites such as Apartments.com, Google, Yelp, and ApartmentRatings.com to better understand challenges that tenants face and help operations find ways to improve their experiences. Overseeing tenant relations, addressing concerns, and ensuring a positive living experience for residents. Collaborating with the property management team to implement tenant retention programs and address issues related to lease compliance.
• Risk Management: Ensure compliance with loan agreements, JV agreements, and vendor agreements. Ensure compliance with local, state, and Federal legal and regulatory requirements related to asset management activities. Oversee the property insurance claim process including compiling all necessary documentation, clear communication with servicers and equity partners on status of repairs and collecting insurance proceeds. Work with operations, insurance carrier/consultant, and risk team to develop and implement emergency response plans to ensure the safety and well-being of tenants and assets.
• Capital Improvement Projects: Staying up to date and researching the newest and most innovative ways of renovating amenities and interior units that drive the greatest renter demand, the highest premiums, and the highest return on investment. Planning and executing capital improvement projects to enhance property value, increase efficiency, and maintain competitive market positioning. Managing relationships with contractors, vendors, and suppliers to ensure quality work and cost-effective solutions.
• Legal and Regulatory Compliance: Ensuring compliance with relevant real estate laws, regulations, and industry standards. Collaborating with legal counsel and regulatory experts to address legal matters and changes in compliance requirements.
• Financial Reporting to Investors: Monthly and quarterly reporting to investors including compiling reports, delivering detailed updates on property operations, capital projects, market trends, and leading update conference calls. Collaborate with senior leadership to create/update the Quarterly Asset Management webinar which will include detailed market data, property/portfolio level KPI’s, and financial analysis.
• Record Keeping and Documentation: Maintaining accurate and organized records of property-related documentation, contracts, and financial transactions. Utilizing property management software and systems to support reporting and compliance efforts.

What This Job Offers

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