Now Hiring - Louisville Metro Housing Authority - Asset Manager in Louisville, KY

Full description of the position

ASSET MANAGER Summary: The Asset Manager is responsible for monitoring and measuring the financial performance of LMHA's housing portfolio, to include Low-Income Housing Tax Credit (LIHTC) investments, to optimize value for partners, investors, and other key stakeholders. This role performs financial analysis and reporting; conducts site visits and works closely with respective community partners and property managers to ensure long-term viability of the housing asset. General

Responsibilities

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• Assist in the design and implementation of LMHA's asset management plan to include making recommendations for process and policy improvements.
• Create, update, and manage asset management financial models to monitor and track property performance.
• Assess monthly property operating performance against key performance indicators (KPI) across the life of the properties; including initial lease-up monitoring and compliance; portfolio comparability reviews; and corrective recommendations (particularly for watchlist properties).
• Conduct periodic asset site reviews to evaluate property management, property marketability and market position, management plan for conformance, and physical condition.
• Prepare periodic Board, senior management, investor, lender and regulatory agency reporting to include asset management KPI dashboard and watchlist reports to senior management
• Assure deferred developer fee, asset management fee, and other cash incentives due to Owner are received, maximizing Owner revenue opportunities.
• Ensure fulfillment of other cashflow waterfall obligations, such as payments required to subordinate lenders.
• Review annual property taxes and manage the abatement/exemption process.
• Review property insurance and recommend opportunities for improvement.
• Assist with the compilation and review of draft tax returns, property annual audit reports; oversee corrective actions, as relevant.
• Establish annual property and capital budget expectations that align with established goals, including rent increases and maximizing operating efficiencies; work with property management as required; present to senior team for approval.
• Maintain compliance reporting and ensure reporting is performed in a timely manner as required by the state housing finance agency, HUD, partners, and lenders.
• Support due diligence efforts related to property acquisition, capitalization and disposition.
• Develop and maintain effective relationships with key property stakeholders, to include owners, property management, lenders, and investors - both internal and external to LMHA.
• Stay abreast of industry best practices and updated/new relevant programs including industry-related policies, statutes, rules and regulations that impact the properties. Knowledge, Abilities, and Necessary Skills:
• Experience with the Low-Income Housing Tax Credits (LIHTC) and other affordable housing programs, to include working knowledge on how these programs impact lease-up and stabilization
• Knowledge of principles for planning and budgeting
• Knowledge of generally accepted accounting procedures
• Knowledge of generally accepted asset management and/or property management practices and standards
• Knowledge of and ability to accurately observe and report on the physical status of buildings, units, and grounds for maintenance and capital improvements planning.
• Ability to understand and research key documents (property audits, partnership documents, financing agreements, regulatory agreements, insurance coverages, tax returns, etc.).
• Ability to acquire knowledge of agency policies and procedures
• Proactive, self-motivated, and able to work independently
• Ability to maintain records in relation to asset management
• Excellent communication and interpersonal skills, with the ability to build and maintain relationships with stakeholders.
• Strong organizational and multitasking abilities, with the ability to prioritize and manage multiple projects simultaneously.

Qualifications

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• Bachelor's degree with coursework in real estate, finance, accounting, economics, business administration or related subjects.
• Three (3) years of progressively responsible, relevant work experience in real estate field of affordable housing subsidy programs, property management operations, capital projects.
• An equivalent combination of education and experience may be substituted.
• Has or is willing to obtain the Certified Housing Asset Manager (CHAM) designation from the Consortium for Housing and Asset Management. EQUAL OPPORTUNITY EMPLOYER Job Type: Full-time Pay: From $38.77 per hour Expected hours: 40 per week

Benefits

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• Dental insurance
• Employee assistance program
• Flexible schedule
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Retirement plan
• Tuition reimbursement
• Vision insurance Schedule:
• 8 hour shift
• Monday to Friday Work Location: In person