POSITION TITLE: Asset Manager
FLSA STATUS: Exempt
DESCRIPTION REVISED: July 2021
Hiring range is $87,526 to $102,972; full range is $87,526 to $118,418.
Hiring rates are determined by skills, knowledge, experience, and internal equity.
POSITION SUMMARY
Under the general supervision of the Director of Asset Management, the Asset Manager assists in all aspects of the administrative, financial, capital and operations of Linc’s housing portfolio that includes Affordable Properties, Senior Communities and Permanent Supportive Housing properties.
ESSENTIAL FUNCTIONS
- Deliver third party property management oversight
- Propose goals and objectives for each property
- Assist in the preparation and approval process of property operating budgets
- Monthly, quarterly, and annual compliance reporting of the portfolio
- Monthly review of property operating statements
- Act as the Owner Representative for inquires by lenders and investors
- Perform properties inspections and create capital needs plans
- Participate in Partnership/Collaborative meetings to ensure collaborative work between Service Providers and Property Management
- Oversee and coordinate new properties lease ups
- Assist in the due diligence and underwriting of potential acquisitions/rehabs, dispositions, LP exits, and Re-syndications
- Financial analysis and DSCR variance reporting
- Review annual financial audits, residual receipts calculations, and coordinate receipt of fees and cash distributions
- Prepare, file and/or coordinate initial and annual Welfare Tax Exemption, and ensure Property Tax Exemption is met
- Analysis of various agreements including but not limited to LPA’s, Regulatory Agreements, HAP contracts, and Loan/Bond documents
- Determination of property valuations and methods to maximize property cash flows
KNOWLEDGE, SKILLS & ABILITIES
- Knowledge of:
- Affordable Housing and general principles of property operations
- Permanent Supportive Housing operations
- Microsoft Office (emphasis on Excel)
- Strong initiative and ability to manage multiple projects and competing priorities/deadlines
- Proficient understanding of LIHTC, Section 8, HOME and related affordable housing programs, and Lender compliance
Skill Level:
- Superior writing, communication, and financial analysis skills
- Proficient in the use of personal computers and related software applications
- Highly organized, efficient, and able to work independently
- Excellent interpersonal skills for establishing and maintaining effective working relationships with employees, other departments, city staff, city officials and the public.
- Excellent Communication skills (both written and verbal)
Ability to:
- Set priorities in fast-paced environment
- Work effectively with others in a team environment
- Work with multiple priorities and deadlines
EDUCATION & EXPERIENCE
A combination of education and related experience may substitute for education requirements.
- Bachelor’s degree required with a concentration in business, finance, real estate, and/or related field
- A minimum of 5 years of experience working in asset management or property operations.
- Experience with California Sustainability Programs is a Preferred
- Experience in Permanent Supportive Housing (PSH) Preferred
PHYSICAL DEMANDS/WORKING CONDITIONS:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Work is performed primarily in an office environment under pressure and requires the ability to quickly adjust to changing priorities and demands
- While performing the duties of this job, the employee is frequently required to sit and use a keyboard
- Lift up to 10 pounds
The statements contained in this job description reflect general details as necessary to describe the primary functions of this position, the level of knowledge and skill typically required, and the scope of responsibility, but should not be considered an all-inclusive listing of work requirements. Individuals may perform other duties as assigned including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise to balance the workload.
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