Director of Asset Management

Job Description

Description:

For the past 20 years, Partners Southeast (Partners) has sought to use affordable housing as a vehicle to make a measurable impact in Education, Economic Opportunities, and Health & Wellness in communities throughout the Southeast. As the development arm of the East Baton Rouge Parish Housing Authority, Partners creates impactful economic opportunities by making strategic investments in Housing, People, and Neighborhoods. Partners is a growing organization with a development portfolio that includes approximately 1,000 units in various stages of development.

Job Summary

Partners Southeast is looking for a dynamic and experienced Asset Manager to join our high-performing organization! This position will be responsible for overseeing our real estate portfolio, and management companies managing our communities to ensure we are providing our families with a best-in-class client experience while achieving annual financial performance goals and furthering our mission. This includes identifying and directing continual improvements to our portfolio’s economic performance; ensuring consistent compliance with LIHTC and other affordable housing programs; maintaining the properties’ physical upkeep and curb appeal; and coordinating with internal and external partners to ensure resident access to services and programming.

PRINCIPAL DUTIES:

• Oversee management companies to ensure all resident objectives and property performance measures are consistently achieved. Review weekly, monthly, and quarterly site reports to monitor property performance and proactively identify potential issues or trends .

• Conduct property inspections to include amenities, vacant units, maintenance facilities, lease files, property files, and shared folders. Performs monthly review of property financial statements and assists in the reforecast of budgets. Maintain communities to ensure excellent curb appeal and physical condition consistent with company objectives.

• Communicate changes in property conditions, market conditions, or personnel situations, which may impact property performance. Proactively work with management companies to ensure occupancy, and financial objectives meet or exceed lender and investor financial models.

• Develop Asset Management policies and procedures and implement best practices.

• Oversees Leasing & Compliance, establishes leasing criteria for each property to ensure compliance with applicable housing programs and Fair Housing laws.

• Work with Property Management and Development teams to oversee lease-up of new construction assets and turnover of units in existing portfolio. Ensures that all leases are in compliance with applicable programs.

• Manage relationships with funding agencies, lenders, and ensure initial and continued tax credit compliance according to projects’ regulatory agreements.

• Identify opportunities for re-financing and apply for capital improvement grants.

• Plan for and provide guidance in implementing the rehabilitation of existing housing properties. Oversee the use of replacement reserve accounts.

• Coordinate agency-wide regulatory audits and HUD inspections .

• Plan and oversee management of the year 15 process for LIHTC properties.

• Familiarity with federal, state, and local government funding sources for capital and operating needs of multi-family housing, special needs housing, and community facilities (e.g. LIHTC, HUD programs, etc.).

• Understands current and anticipated federal, state, and local, regulatory requirements for property and financial assets and ensures that assets are compliant with regulatory standards.

• Identifies risks to assets (potential failures); identifies consequences of asset failures; and plans for ways to minimize the consequences of failures

• Confers with Chief Operating Officer and senior leadership team on public relations.

• Directs and monitors the leasing and marketing of the properties. Seeks market data and assess comparable properties on a regular basis, review marketing strategies and make recommendations for changes in advertising, pricing, or programs. Provides guidance to property management on occupancy issues and advises on changes to rental rates and offered concessions.

• Visits stabilized properties no less than quarterly and transitional properties no less than monthly. Assesses the general physical condition of the building systems, housekeeping, and grounds. Confirms effectiveness and efficiency of property management staff (on-site and regional). Identifies and implements improvements to curb appeal and marketability.

• Coordinates with Resident Coordinators to encourage and support optimal social programming.

• Coordinates with the Chief Operating Officer to analyze and continuously improve building design and performance standards.

• Understands that property management requires after-hours monitoring and accessibility. In the event of crisis management, determines how to proceed in partnership with the property managers and staff. In real time, conveys the issues to senior leadership.

• Assist management companies with resolution of escalated resident issues and complaints.

Compensation and Benefits:

A competitive salary is offered, commensurate with experience, along with a comprehensive benefits package. Requirements:

QUALIFICATIONS AND KNOWLEDGE:

· Bachelor’s Degree in business, real estate development, or a related field preferred, with sufficient experience to provide detailed and accurate financial analysis and strong leadership in property management practices and techniques.

• Minimum of seven (7) years of direct supervisory experience; five (5) years of direct supervisory experience in a property management environment preferred.

• Minimum of five (5) years of experience managing properties funded through Section 8.

• Housing Choice Vouchers, federal Low Income Housing Tax Credits (LIHTC), the HUD HOME program, SHP, and HOPWA; Certified Occupancy Specialist and/or Tax Credit Specialist strongly preferred.

• Thorough knowledge of management principles, practices, and procedures, including landlord/tenant practices and laws.

• Proven track record of success in management of affordable and subsidized multifamily rental properties; including good record of tenant relations.

• Excellent planning and organizational skills; ability to analyze complex situations and develop timely solutions and manage shifting priorities, deadlines, and workloads quickly and frequently.

• Strong computer skills, particularly with spreadsheets and purchase/work order systems.

• Ability to communicate effectively, both orally and in writing.

• Physical ability to visually assess and physically inspect all floors of multi-story properties without an elevator required.

• Availability and willingness to respond to occasional property emergencies in multiple East Baton Rouge Parish locations on a 24/7 basis, excluding scheduled vacations.

Partners Southeast and the EBRPHA are equal opportunity employers committed to creating a diverse workforce. We provide equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity, national origin, age, disability, genetic information, marital status, service member status, amnesty or status as a covered veteran, or any other protected classification under applicable federal, state, and local laws.