Sr. Asset Manager

Impact Housing•Los Angeles, CA

5d•$145,000 - $155,000•Hybrid

About The Position

The Senior Asset Manager owns the financial and operational performance of Impact Housing’s operating multifamily portfolio. That portfolio today comprises three San Diego assets and grows with the development pipeline. This position is the company’s internal owner of portfolio results. It directs the third-party property management firms, holds them accountable to scope and reporting standards, prepares the reporting that reaches the CEO and ownership, and protects net operating income across the portfolio. It is built to scale: as assets are delivered, the role is expected to grow into leading an asset management team rather than remaining a single contributor.

Requirements

Four to seven years in multifamily asset management or real estate operations, including direct accountability for the financial performance of a portfolio and direct oversight of third-party property management firms.
Real estate experience.
Institutional multifamily owner, developer, syndicator or operator experience.
Affordable housing experience — LIHTC, Section 8 or HAP contracts, and regulatory agreement compliance — is required or very strongly preferred.
General property management experience without portfolio-level financial accountability is not a substitute.
Advanced Excel, including budget modeling, variance analysis and portfolio-level reporting.
Fluency reading and interrogating rent rolls, box scores, operating statements and general ledgers.
Ability to hold an external property management firm accountable in writing and in person without damaging the relationship.
Clear written reporting suitable for a CEO and ownership audience.
Valid California driver’s license and reliable transportation.
Bachelor’s degree required.
CPM, CCIM, or an affordable housing compliance credential such as HCCP or COS is preferred.

Nice To Haves

Lease-up experience on newly delivered multifamily assets.
San Diego and Southern California submarket knowledge.
Yardi, RealPage or comparable property management software.
Experience standing up an asset management function or building a small team.
Familiarity with modular or offsite-built product and its operating characteristics.
Preferred disciplines for Bachelor's degree: real estate, finance, business administration, accounting or economics.

Responsibilities

Own portfolio performance — annual budgets, monthly variance analysis, rent roll and box score review, occupancy and lease-up strategy, and protection of net operating income.
Direct and hold accountable the third-party property management firms across the portfolio, including scope definition, KPI setting, performance review, and leading RFP, onboarding and transition processes.
Produce ownership and executive reporting, including the weekly portfolio report, the monthly reporting package, distribution and reserve tracking, and capital planning.
Lead capital and value-add analysis — capital plans, the economics of renovation and construction deficiency programs, and analytical support for refinance and disposition decisions.
Route operating findings into the cross-vertical Problem Resolution Request system so that issues surfaced in occupied buildings reach manufacturing, construction, and design and engineering.
Partner with the On-Site Coordinator on warranty, defect and deficiency items that affect operations, occupancy or resident experience.
Build and lead the asset management function as the portfolio grows, including hiring and supervising additional staff.
Review daily and weekly property management reporting — delinquency, traffic, leasing, renewals, work orders — and flag exceptions for action.
Hold weekly calls with each property manager and drive open items to closure.
Maintain the multi-property reporting workbook that merges rent roll, box score and property management tracking data.
Track resident and commercial delinquency and pursue resolution with the property management teams.
Review and approve invoices and variance explanations against the approved budget.
Prepare the weekly ownership email and assemble the monthly reporting package.
Coordinate with the On-Site Coordinator and construction teams on open deficiency items affecting units or common areas.
Walk properties on a monthly cadence and after any material incident.