Asset Manager Community Housing

Job Description

Job Description

Spartanburg Housing , located on Arch Street, Spartanburg, SC, is dedicated to helping serve the community by providing affordable housing options to the citizens of Spartanburg. Celebrating 85 years, we continually work towards our mission to develop and provide affordable, quality housing options, and programs that promote self-sufficiency for area residents. If you are looking for a rewarding job that helps others, Spartanburg Housing is the place for you!

Spartanburg Housing offers qualifying employees an attractive benefits package including Blue Cross Blue Shield medical, dental, long-term / short-term disability, life insurance, cancer, accident policies and state retirement ! Come be a part of a great team!

We currently have the following open position : Full-time Asset Manager Community Housing

Summary

The incumbent is responsible for the quality of life as well as the physical and financial condition of the assigned properties. Must demonstrate strong cognitive ability in assessing and evaluating problems, have capacity in determining priorities and managing multiple projects commensurate with Housing Authority standards, understand accounting principles to implement site specific budgets. The incumbent must also have demonstrated skills in lease enforcement, maintenance supervision and budget management. Must have excellent communication skills, both verbally and written. Must be a team player. Must have a valid South Carolina's driver's license with good driving record, or obtain immediately upon hire. Must travel locally with agency vehicle.

Education and Experience

REQUIRED EXPERIENCE : 1) property management, 2) analyzing financial statements

Bachelor's degree in operations, accounting, finance, and public / business administration is required. Applicants who do not possess the required education may substitute additional directly related experience. Experience working at a large, multi-faceted organization is highly beneficial . 5 years management, supervisory and administrative experience in working with the U.S. Department of Housing and Urban Development programs, and / or HCV Housing is strongly preferred. Experience in contract negotiation, budget preparation, fiscal oversight, analyzing and managing a property portfolio is highly beneficial. PHM certification required within one (1) year of employment. Tax Credit, Blended Occupancy, Harassment & Discrimination, HQS Enhanced Visual Inspection, PIC / EIV Basics, and Fair Housing Training and / or certifications required as necessary.

The Asset Manager's primary responsibility is for the day-to-day oversight of a specifically assigned portfolio of multifamily properties. The primary responsibilities include all aspects of refinancing, recapitalizing, operations, financial and regulatory compliance administration and oversight of assigned portfolio.

Responsibilities :

• Maintaining in-depth familiarity with assigned portfolio of properties, including ownership structure; underwritten investment objectives; financing structure (including maintenance of relationships with various investors and lenders) ; management structure (including maintenance of relationship with third-party management agents) ; guarantor structure; underwritten versus actual operating results ; State Housing Finance Agency and / or HUD / RD-affiliated regulatory requirements and compliance.
• Oversight of portfolio performance by ongoing monitoring of the operational, financial, management, regulatory compliance, and budgetary compliance for all assigned assets, continually comparing actual asset performance to underwritten expectations.
• Evaluation of economic, demographic, and multifamily market trends and the ongoing benchmarking of such trends against the assigned portfolio.
• Performance of periodic on-site inspections to all properties within the assigned portfolio, focusing on physical condition, local market conditions, overall property administration, and continuing program compliance.
• Oversees, monitors, develops, and assists in implementing policies and procedures related to eligibility and compliance with the requirements of a mixed-income residential portfolio including but not limited to special subsidy programs, Low Income Housing Tax Credits, and other affordable and / or market rate programs.
• For Owned Assets : In conjunction with an internal property management team, prepare capital plan by property / unit inspections and identify the funding sources to execute capital projects. Review and approve RFPs and meet with third party contractors, partners, and managing agent. Facilitates and coordinates with property manager in the construction oversight for all projects.
• For Non-Owned Assets : Review capital expenditures to ensure that assigned properties are maintained in first class condition at reasonable costs and within budget limits. Assist Owners and property managers to prepare and maintain a five-year capital expenditures projection for each property and review reserve for replacement funding requirements necessary to accomplish the capital plan.
• Completes monthly, quarterly, and annual physical property inspections for early identification of potential issues. Prepares reports based on inspections, and takes any appropriate actions based on findings.
• Reviews and analyzes the financial and operational information and reports provided from the partnerships on a monthly, quarterly, and annual basis. Prepares informative reports on property performance; provides problem resolution and corrective action strategies when necessary. Conducts analytical analysis (monthly) of the financial performance of the real estate assets and provides recommendations of project performance and managerial strategies to ensure the continuous flow of net operating income and cash flow.
• Conduct due diligence and analytical analysis of real estate assets and programs for potential investment opportunities. Conducts financial modeling scenarios to determine ideal operational structure (i.e., unit mix, reserve requirements, and capital needs) and project feasibility and assist with the underwriting.
• Participates in the closing process (for improved real property); reviews service contracts; reviews closing statements to ensure accurate pro-rations ; finalizes post-closing matters including final pro-rations. Determines how to seamlessly integrate the potential asset into the Agency's portfolio.

Other Requirements

Must possess a valid State of South Carolina driver's license and regularly participate in continuous improvement and education. Must work with the highest degree of confidentiality.

If you want to make an impact in the community and make a difference in people's lives, come be part of the team at Spartanburg Housing.

Spartanburg Housing is an equal opportunity employer.