Asset Manager

Company: The Community Builders Inc
Location: Columbus
Posted on: August 7, 2022

Job Description:

Asset Manager

Job Description and essential functions:

Portfolio Oversight and Reporting

Cash Flow and Fees

Project and work to increase cash generated from operations

Understand LPA, waterfall and GP responsibilities for timely distributions to TCB and partners

Understand reporting requirements and work collaboratively with other departments to see that requirements are met.

Understand financing, affordable programs and regulatory requirements

Provide oversight for the portfolio to remain in good standing with the applicable file and physical compliance requirements in governing documents such as loans, partnership agreements, tax credit allocations, affordability restrictions, etc.

Programs: LIHTC, Historic Credits, HUD Programs, State and Local programs, HOME, TIF, REAC, RAD, Public Housing, Housing Choice Vouchers, etc.

Monitor and report on property management capacity and performance:

Organize/Monitor data and workflow systems in use at corporate office and at sites to track and plan for critical events

Maintain the integrity and quality of data in the property database

Utilize database and tracking tools

Inspections and Site Visits

Utilize TCB tools and systems for storage and archiving of all project documents

Financial Analysis

Savvy and holistic approach to the double bottom line including granular analysis and high level reporting on performance of portfolio and projects.

Measure and manage property performance against projections and annual budgets.

Develop project operating forecasts to determine potential operational challenges, corrective actions and opportunities for improvement.

Review and approve annual property budgets

Review monthly and quarterly operating statements

Review tax returns and audits for portfolio properties.

Respond to questions from lenders, partners or other approving agencies on property financials

Provide information for internal, board and external presentation of property and portfolio performance and strategic outlook on long term operations

Portfolio Preservation and New Development

Bring Asset Management perspective and experience of portfolio and capacity to discussions related to the preservation of current portfolio and prospective projects.

Pipeline / New Developments:

Participate in pipeline discussions of prospective projects and feasibility

Create/review operating projections

Facilitate in project lifecycle transitions (Development to Operations, Resyndication, Dispositions, etc.)

Aging Portfolio:

Identify properties as candidates for LP exits, refinancing or other restructuring.

Work with TCB's development department to prioritize and advance necessary funding requests and applications

Stabilized Portfolio:

Site visits, curb stops, preventive maintenance contracts, maximizing rents, controlling expenses, marketing, reserve analysis, reserve draws, long-term capital plans

Risk Management and Assessment

Analyze properties on a variety of dimensions, including proforma, physical condition, program compliance, and strength of market to articulate project SWOT analysis and report on portfolio as needed.

Create Asset Management Plans:

Identify watch list properties and create and monitor action plan

Understand industry best practices

Anticipate and prevent liability risks through monitoring of operational and financial matters:

Legal issues and contracts, insurance, property tax issues/exemption, utility consumption, security and neighborhood issue

Relationship Management

Bring Asset Management perspective into communications with internal staff and external parties to achieve property goals.

Internal Relationships

Work cross functionally with other departments within TCB to develop and implement annual asset management plans, set operating benchmarks and achieve defined property goals consistent with TCB's strategic plan.

Participate in review and development of owner standards for condition of units, buildings and site within budgetary limitations

Participate in process improvement projects within and outside the department.

Prepare Board reports on portfolio performance, trends, goals, events, etc.

External Relationships

Direct third party managers in all areas of operations as TCB's owner rep

Connect with funders, investors and local partners as owner representative for TCB, developing trust and building consistent and constructive problem solving approaches

Coordinate all responses to questions from investors/lenders on assigned portfolio

Meet investors during site visits where feasible and on troubled properties

Negotiate with partners and/or lenders to ensure the long term physical and financial health of the properties.

Work with investors and lenders on exits, re-fis, dispositions and workouts.

Education & Experience

Bachelor's Degree Required

Minimum of five to seven years of experience in affordable housing asset management

Demonstrated ability to lead a team and very strong ability to work independently

The Community Builders is committed to diversity in its workplace. Applicants from diverse backgrounds are encouraged to apply.

In addition, TCB has implemented a vaccine mandate which requires all staff to be fully vaccinated or be approved for a religious/medical exemption.

PI186210317

Keywords: The Community Builders Inc, Columbus , Asset Manager, Executive , Columbus, Ohio