Job Description

I.

SUMMARY

:

The Asset Manager of real estate supports Pacific Housing Assistance Corporation affordable housing projects, which are directly and subsidiary-owned and in partnerships with private limited partners. This position requires a high degree of autonomy and good judgment. The Asset Manager oversees and coordinates the activities of the property management firms hired to manage the properties in the corporation's real estate portfolio and is also actively involved in formulating and operating management programs and tenant supportive services.

II.

DUTIES

:

A. Manage long-term financial and physical live-ability of a 15 project, 939 rental unit portfolio and commercial spaces and any related support services for families, elderly, and special needs tenants. The primary function of this position is to assist the Director of Asset Management in managing all aspects of the portfolio's administrative, financial, capital, and operations.

B. Develop a master asset management (business/operational) plan to build internal asset management capabilities.

1. Conduct and administer risk analysis to determine project risk profile.

2. Assess and manage risks associated with current assets.

3. Manage cash flow and physical assets such as property and real estate.

4. Work to maximize returns and minimize losses on assets and investments.

C. Drives asset performance by increasing operating efficiencies and reducing costs to increase net operating income, and capture portfolio revenue increases (reducing monthly expenses, vacancy loss, collections loss and bad debt, mitigate liability and risk).

D. Ensure compliance with partnership and limited liability corporation agreements and government, tax-exempt, and tax credit regulatory requirements.

E. Supervise and monitor property management agents' day-to-day/month-to-month effectiveness in operations and compliance with standard practices.

1. Evaluate annual property management performance.

F. Ensure that project occupancy requirements (i.e. lease agreements, recertifications, household/unit size, waiting lists, etc.) are met.

G. Review variances monthly. Establish benchmarks, performance indicators and monitoring tools on properties' financial performance and physical condition, including quarterly and annual financial reviews of all properties, development and coordination of quarterly watch lists and related property action plans.

1. Monthly review of operating financial statements

2. Monthly, quarterly, and annual reporting of the portfolio to the Board.

H. Review and recommend action or revisions of project operating budgets submitted by the various property managers to the Executive Director.

1. Review and recommend action on project maintenance plans.

2. Review and recommend action on proposed rent increases.

I. Review annual financial and compliance audits.

J. Directly oversees or manages the portfolio's most complex or issue-laden properties.

K. Assist in reviewing, preparing, and approving property operating budgets.

L. Analyze and evaluate portfolio progress and enact necessary changes.

M. Regularly inspects each property. Attend annual compliance inspections and other inspections with property management companies.

N. Negotiate contracts affecting the entire portfolio.

O. Review and assess capital needs at each property. Budget for capital needs based on reserve study for each property.

P. Monitor cash flow, plan for adequate cash available for emergencies, and track accumulated reserves. Monitor capital improvement projects to ensure timely completion within budgets.

Q. Monitor repairs and support the insurance claim process when property damage or liability claims arise.

R. Interact with company insurance policy carriers and participate in property risk assessments and mitigation planning.

S. Work closely with senior management in analyzing strategies.

III.

POSITION RELATIONSHIP

:

This position reports to the Director of Asset Management of the Pacific Housing Assistance Corporation.

IV.

QUALIFICATIONS

A. College graduate, preferably with an educational background in business, finance, real estate, or related field.

B. At least ten (10) years' experience as a real estate property management manager may substitute educational background/field. This time requirement may be reduced, on a one (1) for one (1) year basis, if the applicant can evidence experience in high-level management positions.

C. A high school diploma with at least ten (10) years' experience as a real estate property management manager may be substituted.

Note: A "manager" means supervision of other employees.

D. Ability to:

1. Read and interpret financial audits, statements, and tax returns.

2. Understand compliance to monitor tenant qualification and recertification.

3. Review and manage project property budgets.

4. Prepare and present various types of presentations to groups.

5. Respond to multiple priorities in a busy work environment.

6. Work independently.

7. Resolve problems and conflicts.

8. Independently manage oversight of property management companies.

9. Organized, detailed oriented, analytical, strategic, and project management skills.

E. Knowledge of:

1. Fair housing laws and real estate property management operations.

2. Tax exempt bond and government financing and tax credits programs in the affordable housing market.

3. Employee management practices.

4. Knowledgeable in use of Yardi Property Management software.

F. Skills:

1. Excellent mathematical, writing, and communication skills.

2. Highly computer literate and proficient in Microsoft Excel, Word, and Suite.

3. Excellent project management skills.

4. Analytical skills for financial and industry data.

5. Maintain effective relationships with investors, property management companies, CPAs, consultants, and the public.

6. Attention to detail.

V.

SALARY

:

Negotiable. Commensurate with experience.

Job Type: Full-time

Pay: $70,000.00 - $90,000.00 per year

Benefits:

401(k) Dental insurance Flexible schedule Flexible spending account Health insurance Paid time off Prescription drug insurance Professional development assistance Vision insurance
Work Location: In person