Asset Manager

  • 1 month ago
  • 1

Job Location Website Elderly Housing Development & Operations Corporation

Job Summary

The candidate would definitely need to be highly motivated, detail oriented, self- starter, well organized, a multitasker with strong work ethic with a solid asset management and compliance background and, obviously be willing to partake in extensive travel. Based in EHDOC HQ and would report to the President/ CEO and Executive staff.

Essential Job Duties and Responsibilities

  • Responsibility for overall portfolio asset management and compliance.
  • Assist in oversight of field operations to ensure optimal property performance through our directives and full adherence to HUD and LIHTC program compliance requirements.
  • Ensure the oversight and implementation of the property’s business and marketing plan, overall performance objectives and operate within the property’s approved budget.
  • Work together with managers and property accountants to analyze monthly financials, prepare budget variance narratives and set up performance metrics to maximize revenue and minimize expenses.
  • Provide recommendations to implement changes necessary for property improvements based on physical inspections and periodic file audits (based on a historical trend analysis).
  • Assist Community Managers and Regional Directors to prepare monthly narratives and financials packages for LP investors, HUD and lenders.
  • Work with VP of Development and VP of Finance & Accounting to maximize the asset’s NOI to increase its value for planned refinance/ rehabilitation.
  • Conduct periodic complete property inspections and file audits as directed by the President/ CEO as part of the ongoing monitoring of property’s performance, management and capital needs.
  • Assist with negotiating major vendor contracts and pursue portfolio-wide expense reductions through vendor bidding.
  • Problem solve property and portfolio level issues through research, analysis and implementation
    • Oversee preparation for third party LIHTC, HUD REAC inspections.
  • Assist CMs and RDs with responses to HUD, LP, Lender and state agency file audit, MOR and REAC/UPCS inspections.
  • Implement and monitor approved capital improvement projects.
  • Assist with completing and submitting HUD 9839 Management Certifications, 2530’s, AOC’s, AFHMP’s, state agency and LP compliance reports.
  • Provide timely processing and settlement of all insurance claims. Prepare incident reports, documents and other paper work relating to claims. Take responsibility of gathering all information from field personnel and follow-up with carrier or assigned adjuster for the expedient payment of all claims. Respond to inquiries and resolve issues pertaining to specific claims. Maintain working relationships with senior staff and regional directors in the handling of all claims involving loss due to fire, property, equipment, Flood, wind, named store, lightning and theft. Provide periodic updates to senior staff upon request and bring notice of special claim matters to the attention of the management.

Education and Experience

  • 3 – 5 years’ experience in affordable multifamily asset management and compliance.
  • Prefer HUD, LIHTC or other low-income experience.
  • Bachelor’s degree (prefer real estate, business and/or finance).
  • Excellent Excel and communication skills.
  • Strong management skills, with an ability to work independently and multitask.
  • Highly motivated, with a positive “can do” attitude.
  • Self-starter and problem solver.
  • An analytical approach with a results oriented mindset.
  • Ability to think like an owner.
  • A willingness spirit to do what is required and necessary.
  • Travel to properties across the nation required

Elderly Housing Development & Operations Corporation and EHDOC Management LLC are equal opportunity employers.

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