Asset Management Associate

Job Description

Job Description

The Asset Management Associate provides timely support and analysis to the asset management team in connection with start-up and operation of the company's multifamily residential assets. The Asset Management Associate supports the execution of the Company's assets by performing financial and/or operational analyses of property cash flows and preparing appropriate documents to facilitate monthly, quarterly and/or annual reporting on multifamily assets within assigned portfolio.

What You'll Do :

Tasks listed below are not an exhaustive list of all the tasks that may be required for this position .

• Asset Startup Duties
  • Work directly with development and third-party operations teams for successful startup.
  • Oversee RFP and onboarding of management team (as needed).
  • Engage property management to ensure execution of property management agreements, collaborate on asset staffing, and system startup.
  • Coordinate branding, websites, digital marketing, social media, etc. Work directly with marketing director / operations marketing.
  • Prior to delivery of first units, review and approve unit pricing, operating budget, preleasing goals, marketing strategy, opening of bank accounts, systems startup, etc. 
  • Coordinate delivery date changes between the management and construction team.
  • Confirm with third-part management team that the opening checklist has been completed during lease up.
  • Review and walk property at startup and ensure that permanent and temporary signage are complete, tour path and model units are successful, and operating team is 100% operable.
• Operational Oversight
  • Act as owner’s representative and ensure that ownership interests are protected.
  • Execute lease-up strategy.
  • Serve as liaison among third-party management, joint venture asset management staff, and Alliance Development and Construction teams.
  • Ensure effective reporting to ownership team and investors, facilitate communication between ownership team and third-party management team.
  • Review and execute tax appeals; work to originate door fees and utility revenue share; oversee monthly operations funding requests; review risk management/ insurance for each asset.
  • Track and monitor lease-up to proforma goals and work with operations team on on-going improvements.
  • Oversee soft cost management for Development Budgets (Interest Carry Management, ODL management, Property Tax Management, Startup Costs, etc.) in conjunction with development manager.
  • Coordinate as necessary with Managing Director and Construction teams to complete capital projects.
  • Coordinate with finance team on proactive approach towards all maturing loans. 
  • Oversee and provide final review of annual property budgets.
  • Coordinate insurance/tax payments in conjunction with Development and operations teams.
  • Ensure coordination of telecom agreements.
  • Conduct quarterly budget reforecasts as needed.
  • Conduct weekly operations calls, providing rent/concession suggestions as needed.
  • Ensure that marketing statistics (web/lead/tour/net leasing) are satisfactory and troubleshoot bottlenecks in operations.
  • Oversee monthly “Asset Management / Finance” report for cash flow projection, measurement against loan tests, and projection for capital needs.
  • Review onsite vendor contracts and review/negotiate for better pricing where available
• Disposition Duties
  • Work with Brokers / Buyers, JV Partner, Bank, Alliance legal and accounting teams to execute investment sales 
  • Facilitated ff market sales, broker valuations and interviews, OM review, due diligence, final disposition.
  • Coordinate BOVs and due diligence during disposition.
  • Review and negotiate PSAs in coordination with legal team and development team.
  • Serve as liaison between property and broker, ensure proper feedback makes its way to on-site property staff.
  • Finalize waterfalls, work with legal on finalizing loan docs, work with ownership/construction on completion of required punch lists, complete sale announcements and final memos.
  • Work with Accounting on loan payoffs and JV distributions.
  • Works with ownership team to negotiate PSA, access agreement and LOI.
  • In advance of buyer’s due diligence, Asset Manager will coordinate the following items: 
    • QC walk of common areas
    • Walk of 100% units
    • Service contract and lease file audit
    • Retention bonuses for the management team
    • Personal property inventory. 
• Any other duties assigned or directed

  What You'll Need to Succeed:

• Experience with financial modeling
• General understanding of the development, lease up, and investment sales process
• Strong analytical and problem-solving skills, attention to detail
• Proficiency in Microsoft Excel, PowerPoint and Word
• Good verbal and written communication skills
• Good organizational skills with the ability to prioritize and multi-task, and ability to work under pressure to meet deadlines
• Ability to work a schedule that may be other than 8-5 Monday through Friday, including overtime, depending on business needs.
• Proficient in Word, Excel, Outlook and accounting systems

What You'll Receive:

• Professional and upbeat work environment
• Competitive compensation and incentives
• Generous paid time off including vacation, sick, holiday, birthday and volunteer time
• Low Premiums for Medical, dental and vision coverage; including access to telemedicine
• Paid parental leave for eligible new parents
• Flexible spending account
• Health saving account with Company match
• Company-paid life insurance
• 401K plan with employer matching
• Short- and long-term disability coverage

Alliance Residential is an equal opportunity employer. All applicants receive consideration for employment without regard to race, age, sex (including gender, pregnancy, childbirth, and related medical conditions), color, creed, medical condition, genetic information, marital status, national origin, alienage, citizenship status, religion, sexual orientation, military or veteran status, handicap, mental and physical disability, and family care or leave status, as well as all other characteristics protected by state or federal law or local law.