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: * 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: * 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: * 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