This asset management role is typically responsible for monitoring, reporting and helping to achieve property performance goals through analysis and due diligence.
A – General responsibilities, all sectors
- Monitor, respond to Deal Book tickler items (e.g., real estate tax agreements, key dates).
- Ensure timely receipt and accuracy of asset information collected and stored in the organization’s database and other reporting systems.
- Prepare (or assist in the preparation of) monthly, quarterly, annual and special/periodic Board, senior management, investor, lender and regulatory agency reporting, as assigned.
- Analyze/investigate monthly property budget-to-actual results by comparing them to proforma and key performance indicators (KPIs) established for each property.
- Support annual property operating and capital budgeting processes.
- Update assigned portfolio’s asset management dashboard, watchlist and other reports.
- Develop and maintain cash flow and distribution projections.
- Support the processes for reserve reimbursement and other capital project funding.
- Analyze property leasing activities and conduct routine market and resident demographic analysis to routinely guide property marketing/leasing decisions.
- Conduct periodic property physical and administrative reviews to evaluate property management, property marketability and market positioning, management plan conformance and physical condition.
- Research and evaluate real estate market, economic and demographic data.
- Assist with special projects and provide assistance to the asset management team as requested.
B – General qualifications, all sectors
- Bachelor’s degree with coursework in real estate, finance, accounting, economics, business administration or related subjects
- Two years relevant work experience, preferably in multifamily asset or property management.
- High proficiency with common office software tools, such as spreadsheets, word processing and presentation tools (e.g. Excel, Word and PowerPoint, or the equivalent)
- Demonstrated ability to learn and quickly develop facility with software commonly used in real estate and financial reporting, such as Yardi, MRI, RealPage, etc.
- Strong analytical and quantitative skills
- Self-starter, detail-oriented, quick learner with strong analytical and problem-solving skills
- Strong verbal, written and presentation skills
C – Special responsibilities and qualifications by sector
- Mission-based owners (for profit, nonprofit, public housing authorities)
- Maintain compliance reporting tracker.
- Provide requested documentation to lenders, tax credit partners, regulators.
- Assist in preparation and maintenance of Property Information Summaries (e.g. Deal Books).
- Ability to understand and research key documents (property audits, partnership documents, financing agreements, regulatory agreements, insurance coverages, tax returns, etc.)..
- Ensure timely renewal of key rental and other subsidy contracts
- Analyze, and communicate to property management, utility consumption data.
- Affordable housing lender/regulator
- Monitor loan payments.
- Monitor/review property audits and other reports.
- Review and approve disbursement of reserve and escrow requests.
- Monitor compliance with federal, state and local regulations.
- Affordable housing syndicator/investor
- Monitor and review project audits, tax returns and other regular reports.
- Identify properties that pose performance or compliance risks.
- Flag properties approaching Year 15 or other key milestones.