Remote, however MUST RESIDE IN THE DENVER METRO AREA.
About the Role:
As an Asset Manager, you will be responsible for all asset management duties for a portfolio of affordable, conventional, commercial, and industrial properties, with the oversight of the SVP of AM. You will act as representative of the owner of each property and as such, you are directly responsible for ensuring long-term financial and physical health of your portfolio. Within that portfolio, the Asset Manager will be responsible for developing, maintaining, and following through with the various assets’ business plans. This includes all rental renewals with a high understanding of maximizing rents, creating and maintaining property budgets, creating and distributing investor reports, tracking and reporting project and capex management, implementing cost saving initiatives, and monitoring all insurance claims. The Asset Manger shall benefit from having the oversight and training available from the SVP of AM.
Key Responsibilities:
•Developing business plans for your portfolio of assets.
•Driving and managing operational and financial performance, understanding all aspects of operations and cash flow for each project within your portfolio.
•Monitor asset performance by collecting, reviewing, analyzing, and reporting on asset financials, including monthly financial reviews, monthly and quarterly portfolio reporting, internal cash flow modeling and forecasting, annual budgeting of revenue, and expenses and capital expenditures.
•Complete annual budgets with CCI Property Management Staff and other 3rd party management companies and communicate expectations to other departments.
•Perform ongoing analysis of property financials to ensure achievement of distribution projections.
•Create and maintain property proformas.
•Utilize Yardi and other technology in place to accurately review budgets and property operations.
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•Monitor, report, and solve high economic and physical vacancy for each property.
•Research and implement grant programs at properties to pay for capital expenses at properties.
•Track and manage all HAP renewals in accordance with the HUD renewal guidelines for a given portfolio.
•Produce rent comparable study reports to understand where market rents are for properties as necessary.
•Maximize rents for market rate properties while understanding the markets that the property is in.
•Submit budget-based renewals for all PRAC properties to maximize rents.
•Monitor and track all repairs that rise to internal project management tracking.
•Lead PCNA / CNA conversations and track all repairs until completion.
•Create and distribute annual investor reports.
•Monitor and track all insurance claims to make sure we are receiving the correct proceeds in a timely manner.
•Analyze and coordinate the placement of insurance policies within the portfolio.
•Monitor and facilitate information needed for property tax appeals.
•Coordinate and oversee the completion of special projects as needed.
•Maintain basic awareness of HUD and LIHTC financial guidelines, forms and objectives in order to aid in the successful ownership of government subsidized housing.
•Perform other related duties as assigned.
•Attend work with regularity and punctuality and recognize that attendance is an essential duty and responsibility of this position.
Required Skills & Experience:
Bachelor's degree in Business, Real Estate, Finance or a related field (or equivalent experience).
Minimum 3 years experience in real estate asset management or property management with at least 2 years direct real estate management experience.
Minimum 1 year experience of direct LIHTC experience.
Knowledge of affordable housing programs and regulations, including Fair Housing, HUD, and LIHTC guidelines preferred.
Experience with Limited Partnership agreements, loan documents, regulatory agreements and other legal documents relating to affordable housing real estate transactions.
Ability to work independently and as part of a team in a fast-paced environment.
Takes initiative: seeks to understand the goal, develops a plan, and delivers
Inquisitive: asks good questions & pieces together information from multiple sources
Tech-savvy: comfortable with new tech – keen to use technology to deliver faster, better results
Excellent Communication: able to communicate effectively with stakeholders at all levels, verbally and in writing
Detail oriented: sees the big picture, but understands & appreciates that the details matter
Strong Time Management: able to balance multiple competing priorities
Excellent Interpersonal Skills: builds strong relationships and leverages those relationships to deliver great outcomes
Professionalism: calm, cool, collected - unflappable, even under pressure
Numerate: able to understand financials and manage a P&L at a property and portfolio level
Flexible & Adaptable: willing to go the extra mile, adapts well to changing circumstances
Exercises Good Judgment: considers multiple perspectives, weighs up risks, and makes a decision
Decisive: comfortable making decisions with incomplete or imperfect information
Physical Demands
Sedentary: sitting most of the time
Physical: frequent use of laptop computer, keyboard, mouse and tablet
Travel: Approximately 15%-25% for site visits; minimal annual travel for company events
Visual: frequent use of computer monitors and tablet
