Asset Manager

Harmony Housing Affordable Development Inc. (“HHAD”) is among the largest real estate developers of affordable rental housing in the United States. Our mission is to positively impact communities by creating, preserving, and maintaining quality affordable housing for low wealth households. HHAD is a wholly owned subsidiary of Harmony Housing, a 501c3 not-for-profit owner of affordable housing with an expanding portfolio of owned assets across the country.

Our fast-growing organization is currently seeking a detail-oriented and experienced Asset Manager to join the expanding Asset Management team and will be an integral part of the growth of HHAD’s affordable housing business, overseeing and optimizing the performance of affordable housing and stabilized properties within our portfolio.  The ideal candidate will have a strong background in asset management, real estate investment, and affordable housing finance, with an emphasis on ensuring long-term financial stability, regulatory compliance, and property performance.

The Asset Manager will work closely with internal teams, external stakeholders, and property management firms to drive operational efficiencies, maximize financial returns, and ensure the properties meet both the physical and regulatory standards required for affordable housing programs. This position works in close coordination with HHAD’s Asset Management and Executive teams and is based in our Raleigh, North Carolina office, reporting to the Senior Portfolio Director of Asset Management.

The Affordable Housing Asset Manager (Stabilized Properties) will be responsible for overseeing the financial and operational performance of stabilized affordable housing properties within the portfolio. This role requires managing relationships with third party property management companies, ensuring adherence to regulatory guidelines, monitoring property performance and maximizing property revenue to ensure the optimal value of assets is achieved. This includes providing strategy, direction, oversight and balancing of costs, risks, and opportunities against desired performance of assets in the portfolio.This position requires a great deal of autonomy and accountability, along with strong experience in critical thinking and problem solving, negotiating, networking, and teamwork. It includes a collaborative team environment with exposure to senior management, owners, lenders, and investors.

Primary Duties and Responsibilities: 

• Asset Management & Oversight:
  • Monitor a portfolio of affordable housing and stabilized properties, ensuring performance metrics align with the company's objectives.
  • Develop and execute property-specific business plans, focusing on revenue growth, cost control, and capital improvement projects.
  • Monitor and review financial performance, including operating expenses, revenue generation, and profitability. Prepare financial summary reports for senior leadership.
  • Identify opportunities to improve asset value, including potential acquisitions, dispositions, and refinancing.
  • Participate in project meetings and contribute to lease-up or acquisition decision-making processes.
• Regulatory Compliance:
  • Work closely with the Compliance team to ensure all properties comply with applicable affordable housing regulations, including local, state, and federal housing programs (e.g., LIHTC, Section 8, HUD guidelines).
  • Review and understand Operating and Limited Partnership Agreements, regulatory agreements, financing documents, and other sources to determine enforceability of terms.
• Financial Analysis & Reporting:
  • Analyze property financials, operating budgets, and forecasts to identify trends, issues, and opportunities for improvement.
  • Prepare quarterly and annual financial reports, presenting key metrics, performance analysis, and recommendations for senior leadership.
  • Collaborate with property management teams to monitor and review operating budgets, capital improvements, and rent rolls.
  • Oversee annual budget preparation process for portfolio. Compare projections to comparable performance across the portfolio and comparable industry data. Compare projections to original proforma and analyze variances.
• Property Performance Optimization:
  • Work with property management teams to drive operational efficiency, tenant retention, and occupancy levels.
  • Identify and implement strategies to improve property performance, including cost-saving measures, asset repositioning, and upgrades for maximizing value and returns for assets to ensure performance is meeting ownership objectives.
  • Oversee capital improvement projects and ensure that they are completed on time, within budget, and enhance long-term asset value.
  • Support the disposition or acquisition of stabilized properties, including asset valuation, financial analysis, and market research.
  • Participate in the due diligence process for potential acquisitions, including the review of property financials, tenant data, and regulatory compliance.
• Stakeholder Communication & Reporting:
  • Maintain strong relationships with internal stakeholders, including legal, finance, construction, development, and acquisitions teams.
  • Communicate effectively with external partners such as property managers, contractors, investors, and governmental agencies.
  • Prepare presentations and reports for stakeholders and investors on portfolio performance, key issues, and strategic initiatives.
• Risk Management:
  • Identify and mitigate risks associated with the asset portfolio, including financial, operational, and regulatory risks.
  • Conduct regular property visits to assess physical conditions, operational processes, and tenant satisfaction.
  • Identify watchlist properties and develop strategies to overcome all issues.
  • Work with internal teams to address and resolve property-specific issues, including tenant relations, legal disputes, and maintenance concerns.
  • Participate in strategic team meetings for projects transitioning from Development to Stabilized Operations.

Experience, Skills, and Abilities Required: 

• Bachelor’s degree in business, real estate, finance, public administration, or a related field; a Master’s degree or relative certifications (e.g., HCCP, CCIM, CHAM, CPM, CPO, or ARM) is a plus.
• Minimum of 7 years of progressive professional experience with a successful track record and relative experience in multi-family affordable housing programs or property management.
• Minimum of 2-3 years of relevant financial analysis and budgeting experience with demonstrated institutional analytical and quantitative skills within multi-family housing, ideally with affordable housing assets.
• Strong understanding of affordable housing programs (LIHTC, HUD and Section 8 regulations) and regulatory compliance.
• Experience with property management operations, capital improvement planning, and resident relations.
• Experience reviewing relative property documents (operating statements, rent rolls, audits, loan documents, etc.); ability to process information including gathering, assessing, coding, organizing, auditing, and verifying data; analyzing financial reports, budgets, forecasting and key performance metrics.
• Proficient in industry leading property management software and compliance reporting tools; Yardi Voyager preferred.
• Familiarity with sustainability initiatives and green building certifications a plus.
• Demonstrated excellent analytical, problem-solving, and decision-making skills.
• Ability to recognize and mitigate investment risks.
• Ability to interpret and implement complex regulations, providing clear guidance to teams and management agents.
• High-energy, accurate, organized, highly detailed, and results-oriented professional with demonstrable ability to successfully manage multiple projects and successfully work under pressure of strict deadlines.
• Excellent written and oral communication skills with an ability to clearly and concisely express ideas, thoughts, and concepts verbally and in writing to diverse teams.
• Advanced computer skills (Microsoft Office Suite, Adobe, SharePoint, and SmartSheet and other similar programs; advanced Microsoft Excel proficiency required.
• Exceptional customer service and interpersonal skills, with the ability to build and maintain relationships with diverse teams, internal and external stakeholders.
• Ability to manage daily responsibilities and projects with minimal direction, while also working in close collaboration with a team to provide solutions where needed.
• Ability to maintain a “big picture” focus while attending to incredibly detailed work and providing thorough documentation.
• Resourceful, flexible and maintain the ability to react and respond quickly towards positive outcomes.
• Strong personal standards and values consistent with HHAD’s core values (entrepreneurial, integrity, caring, and excellence).
• Ability to travel as needed throughout the United States.
• Flexibility in working hours may be required to accommodate property needs and regulatory deadlines.

A satisfactory background check will be required as part of the selection process.

At Harmony Housing Affordable Development, we believe that finding creative solutions for our clients comes from the collaboration of people with diverse backgrounds and perspectives. We strive to build an inclusive work environment that celebrates differences and empowers all individuals with opportunities to channel their entrepreneurial spirit. HHAD is an EEO employer.

This job description is not inclusive of all responsibilities, skills, requirements, efforts or working conditions associated with this position. While this job description is intended to be an accurate reflection of the current position, management reserves the right to modify the position or to require that other or different tasks be performed when circumstances change. This job description replaces all previous descriptions for this position.