Multifamily Asset Manager

Job Description

ABOUT STONEHILL COMMUNITIES

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Stonehill Communities is a fully integrated private real estate development and investment firm headquartered in Las Vegas. The platform does three things: develops institutional-quality multifamily communities from the ground up, acquires existing multifamily and manufactured housing communities in high-growth markets, and manages the portfolio in-house to drive long-term performance.

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Every investment is executed from sourcing and underwriting through construction, operations, and disposition, across value-add, mark-to-market, and core-plus strategies.

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THE ROLE

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The Asset Manager owns performance across a growing portfolio of stabilized and lease-up multifamily communities and manufactured housing communities, including park-owned homes, and serves as the firm's primary check on property operations.

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You will set the business plan for each asset, hold operations accountable to it, and give the firm a clear read on where every asset stands against underwriting.

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WHAT YOU'LL DO

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Performance oversight

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• Own the business plan for each assigned asset, from takeover through stabilization and disposition

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• Track actual performance against underwriting on rents, occupancy, concessions, operating expenses and NOI, and explain variances

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• Build and maintain reforecasts, and flag when an asset is off plan early enough to correct it

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Property manager oversight

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• Oversee multiple third-party managers and review each monthly management package (box score, rent roll, monthly report) line by line

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• Review daily and weekly leasing reports, including lead-to-tour conversion, follow-up standards and screening decisions

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• Run regular leasing and performance calls, set the agenda and hold the follow-ups

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• Conduct site visits and issue a written report with a punch list and assigned owners after every visit

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• Approve pricing strategy, renewal programs and concession structures

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Revenue and residents

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• Build renewal and rent increase plans, including tiered increases, notice timing and resident communication

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• Maintain market studies beyond rent comps: new supply, lease-up tracking, concession monitoring and rent vs. own analysis

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• Manage marketing programs and vendors, source quotes and approve spend

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• Audit pricing, concessions and availability across the website and third-party listing sources

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Manufactured housing

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• Oversee MH community operations, including lot rent strategy, occupancy, collections and infrastructure capital projects

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• Manage park-owned home inventory, including sales, rentals, turns and replacement strategy

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• Track regulatory and tenancy requirements for manufactured housing in each jurisdiction

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Reporting

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• Produce monthly and quarterly asset reports and investor updates with sourced figures and stated assumptions

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• Run weekly calls with JV and operating partners and own the follow-ups

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• Turn around ownership data requests quickly with sourced numbers

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• Present performance and recommendations to the investment committee and capital partners

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• Maintain rent comp sets and submarket data, and benchmark operating expenses against peers

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Budgets and capital

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• Lead the annual budget process with each PM and defend the result internally

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• Scope, underwrite and oversee value-add and capital projects; track spend and measure the return actually achieved

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• Review and approve draws, invoices and variance reports

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Transactions

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• Support acquisition underwriting and diligence with operating assumptions grounded in portfolio experience

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• Run operational onboarding at closing, including systems setup and the takeover plan

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• Build and execute hold/sell analyses and support dispositions

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Debt, cash and compliance

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• Support debt placement and refinancing, including lender quote matrices and term sheet comparisons

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• Track lender and escrow requirements: repair closeouts, escrow releases, lien waivers, DACA and bank account setup

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• Manage cash across entities and flag funding needs or distributable cash

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• Monitor loan covenants, DSCR tests, reserves and lender reporting

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• Track insurance, property tax appeals and real estate tax exposure by jurisdiction

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• Support cost segregation studies and related tax work with outside advisors

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WHAT YOU BRING

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Required

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• 4 to 8 years in multifamily or manufactured housing asset management, acquisitions or operations

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• Ability to read a rent roll and a T12 and tell an owner what is actually happening

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• Advanced Excel: you build models rather than fill them in, and you can defend every assumption

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• Experience overseeing multiple third-party property management teams at once

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• Working knowledge of net effective rent, loss-to-lease, trade-out, economic and physical occupancy, bad debt and expense categorization

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• Bachelor's degree in real estate, finance, accounting, economics or a related field

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• Willingness to travel and run a site walk that produces a punch list, not just notes

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Preferred

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• Manufactured housing experience, including park-owned home operations

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• Yardi, RealPage or AIRM, Funnel and rent comp platforms

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• Lease-up and new-construction takeover experience

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• JV or institutional investor reporting experience

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• Exposure to Sun Belt and Mountain West markets

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• Enough development or construction exposure to engage credibly with a GC and project team

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COMPENSATION AND BENEFITS

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• Competitive base salary and annual performance bonus, commensurate with experience

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• Medical, dental and vision, with employer contribution to premiums

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• 401(k) with company match

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• Unlimited PTO

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• Travel reimbursement, professional dues and continuing education

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Applications are reviewed on a rolling basis until the role is filled.

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Stonehill Communities is an equal opportunity employer.

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• #hiring #assetmanagement #multifamily #manufacturedhousing #realestate #CRE
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