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