Our client located in Nashville, TN is seeking an experienced Asset Manager to join their growing team in the Affordable Housing Industry.
Position: Asset Manager Direct Hire Hybrid Schedule Salary: $85,000 - $125,000
The Asset Management Associate will report to the Senior Asset Management Associate. This is an in-office, Nashville-based position with a travel requirement of up to 40%.
Responsibilities
Oversee Daily Operations of a Portfolio of 2,000+ units
Conduct regular site visits to hold onsite teams accountable while building trust and setting clear expectations.
Monitor all incident reports and communicate with insurance agents to mitigate losses.
Lead Weekly Operations Calls with Third Party Property Managers of assigned portfolios.
Utilize Internal Reports to inform business decisions for assigned portfolios.
Track and coordinate lender inspections for assigned portfolios and ensure that any required repairs are completed.
Track all compliance related items and ensure that all metrics and deliverables are handled in a timely manner.
Manage Financial Health of a Portfolio of 2,000+ units
Review monthly financial statements for Portfolio; provide notes and explanations for any variances to budget, flag items that require accrual/reclass, and monitor distributable cash projections.
Handle approvals for any major operational expenses that land outside of budget.
Closely monitor operational cash balances and notify Senior Asset Management Associate of any potential shortfalls and/or funding requests.
Leverage external and internal reports to monitor market rents for assigned portfolio assets; handle the approval of rent changes and concession offerings based on these findings.
Run, Review, and Analyze Internal and External Reporting
Review all third-party ops reports for assigned portfolios; flag any trends, outliers, and oddities that require further explanation from Ops.
Provide action plans for assets that are in distress; closely monitor performance of action plan assets with the goal of reaching re-stabilization.
Provide variance notes and additional insights during the monthly internal review of the Summary of Asset Performance (SOAP) Report.
Serve as point person for all ad hoc reporting requests pertaining to the assigned portfolio.
Participate in Annual Budgeting Processes
Conduct capital walks for assigned portfolios in preparation for the upcoming budget year.
Work closely with Ops in the review of portfolio budgets; check math, verify assumptions using knowledge of assets and market conditions, push for explanations and narratives, etc.
Create business plans for assigned portfolios based on budgeted projections.
Present Senior Asset Management Associate with near-final versions of budgets and business plans for assigned portfolios.
Assist in the final presentation of budgets and business plans to the Director of Asset Management.
Required Experience
Bachelor's Degree Required; focus in Real Estate, Finance, or Business preferred.
5+ Years of Multifamily Operational Experience preferred but not required.
Experience in Affordable Housing Operations and Compliance is preferred but not required.
Valid Driver's License with ability to commute to properties as needed.
Proficiency in Excel, with the ability to build new reporting templates as needed.
Ability to analyze Income Statements, with an eye for identifying trends and changes.
Strong communication skills with ability to address issues in real time clearly, concisely, and professionally.