Asset Manager

Asset Manager | Affordable Housing

Position Summary

The Asset Manager is responsible for the financial performance, operational oversight, regulatory compliance, and long-term value of a portfolio of affordable multifamily housing communities. Acting on behalf of ownership, this position partners with property management, development, accounting, compliance, investors, lenders, and housing agencies to execute asset business plans, protect cash flow, maintain affordability requirements, and achieve investment objectives throughout the property life cycle.

Key Responsibilities

Portfolio Financial Management

• Monitor property-level financial and operating results against budgets, underwriting, business plans, and key performance indicators; identify variances and drive corrective action.
• Lead annual operating budgets, periodic forecasts, cash flow analyses, and long-range capital planning; assess property liquidity, funding gaps, and distribution capacity.
• Review monthly financial statements, operating expenses, net operating income, debt service coverage, collections, bad debt, and accounts receivable.
• Oversee operating, replacement, and other restricted reserves, including draw requests and compliance with approval requirements.

Property Operations & Lease-Up

• Hold property management partners accountable for occupancy, leasing velocity, rent collections, expense controls, resident service, and execution of property action plans.
• Oversee lease-up and stabilization of newly constructed or rehabilitated communities; coordinate with development, compliance, and operations teams on delivery and occupancy milestones.
• Conduct owner site inspections, evaluate physical conditions, and monitor capital projects, preventive maintenance, insurance matters, and material incidents.
• Assess rent strategies, subsidy receipts, concessions, and revenue opportunities within applicable program and regulatory restrictions.

Investor, Lender & Financing Coordination

• Prepare accurate, timely asset performance reports, variance explanations, business plan updates, and other deliverables for ownership, investors, and lenders.
• Monitor loan covenants, reporting deadlines, reserve requirements, and other financing obligations; coordinate with relevant parties to address exceptions.
• Support construction-to-permanent loan conversions, refinancing, dispositions, and other capital transactions through financial analysis, due diligence, and stakeholder coordination.
• Maintain effective relationships with internal teams, limited partners, lenders, housing authorities, and other external stakeholders.

Affordable Housing Compliance & Audits

• Partner with compliance specialists to oversee property-level adherence to Low-Income Housing Tax Credit (LIHTC) requirements and applicable rental assistance, affordability, and regulatory agreements.
• Monitor applicable program obligations, including income and rent restrictions, set-asides, subsidy contracts, and required agency reporting; escalate risks and coordinate remediation.
• Coordinate annual audits, investor and lender reviews, agency inspections, and responses to findings; ensure timely delivery of complete financial information.
• Work with compliance and operations teams on rent increases, utility allowances, subsidy reconciliations, and other program-specific matters as applicable.

Qualifications

• Bachelor’s degree in Finance, Accounting, Real Estate, Business, or a related field; advanced degree preferred.
• At least three to five years of relevant experience in multifamily asset management, affordable housing finance, real estate operations, or a related field.
• Working knowledge of LIHTC and affordable housing financing and compliance structures; familiarity with HUD-assisted housing, project-based rental assistance, or housing authority programs preferred.
• Strong financial modeling, budgeting, variance analysis, and Excel skills; ability to interpret property financial statements and loan documents.
• Strong written communication, judgment, organizational skills, and ability to coordinate multiple stakeholders and competing deadlines.

Measures of Success

Performance against approved budgets and underwriting; occupancy and collections; NOI and cash flow; timely lender, investor, and agency reporting; regulatory compliance; successful lease-up and stabilization; and execution of capital and financing milestones.