Operating Property Asset Manager

Fairway Management, Inc.•Atlanta, GA

1d•Hybrid

About The Position

Affordable Equity Partners, Inc. (AEP) is a financial resources company founded in 1997 that provides services for developers and investors in the Section 42 LIHTC Program. AEP has more than 500 tax credit developments and has syndicated over $5 billion in federal and state tax credits. The Operating Property Asset Manager (OPAM) is the day-to-day owner’s point of contact for a portfolio of stabilized LIHTC properties. The role oversees operating performance, ongoing LIHTC and lender compliance, reserve draw requests and capital projects, leasing and marketing execution, investor reporting, and budgets. The OPAM also supports refinancings and dispositions with Portfolio Management, maintains AHIC Operating Property Risk Ratings in MRI, responds to third-party inspection findings and 8823 notices, and works closely with Compliance, Property Management, Accounting, Legal, and Investor Relations. The position is based in Atlanta, Georgia. The schedule is initially in-office Monday through Friday, with the possibility of moving to a hybrid arrangement after the training period.

Requirements

Bachelor’s degree in Real Estate, Finance, Business, Construction Management, or a related field, or equivalent experience.
4–7 years of experience in multifamily asset management or affordable housing.
Financial analysis experience and knowledge of the LIHTC program.

Nice To Haves

Experience with MRI or similar asset management systems.
Excel experience.
Comfort with automation and AI tools.

Responsibilities

Review monthly and quarterly property performance, including P&L, occupancy, rent variance against budget, concession use, and utility expense trends, and prepare corrective action plans.
Develop and implement action plans to address variances and help properties meet or exceed underwritten expectations.
Maintain LIHTC compliance in coordination with the Compliance team.
Prepare quarterly investor commentary and ad hoc updates.
Update AHIC Operating Property Risk Ratings in MRI software.
Maintain a clean audit trail for inspections, reserve draws, and capital projects.
Manage reserve draw requests, validate eligibility, and oversee capital projects from scoping through completion.
Ensure capital initiatives are delivered on time and within budget and that third-party inspection findings are closed.
Oversee leasing and marketing strategies to maximize rents while maintaining target occupancy; evaluate rent comparables and recommend concessions, lease terms, and staffing changes; approve marketing expenditures and track results.
Support refinancing and disposition efforts by providing operating histories, capital projections, and compliance documentation.
Promote process improvement and adoption of AI and automation tools for reporting, compliance, and portfolio monitoring.