Senior Asset Manager - Affordable Housing

Job Description

Job Description

Senior Asset Manager – Affordable Housing

Location: Greater Sacramento Area (Gold River, CA)

 

Work Arrangement: On-site with regular travel

 

Compensation: $130,000 – $150,000 Base Salary + ~15% Target Performance Bonus (KPI-based)

 

Benefits: Comprehensive Medical & Dental Coverage, 401(k) with Company Match, Paid Time Off

 

Travel: Approximately 25%–30% (regional driving and occasional multi-state flights)

The Opportunity

A well-established, privately held real estate owner and developer with nearly 30 years of stability is expanding its corporate leadership team. Managing an established, 100% affordable housing portfolio across multiple states, the firm specializes in long-term preservation, acquiring, rehabilitating, and operating Section 42 LIHTC, HUD Project-Based Section 8, and USDA Rural Development communities.

 

This is a rare opportunity to step into an ownership-level role offering direct, daily visibility to executive leadership and principals. Rather than functioning as a remote corporate cog, you will partner directly with operational leadership to shape asset performance, participate in portfolio-wide optimization, and help streamline operational workflows. Clear pathways for upward progression to an executive/VP capacity exist as the platform expands.

Role Overview

As Senior Asset Manager, you will assume financial, operational, and regulatory oversight of a dedicated portfolio of approximately 17 to 20 multi-family affordable housing communities. Serving as the strategic bridge between executive ownership and third-party property management partners, your mission is to protect asset value, drive Net Operating Income (NOI), evaluate capital re-investment, and maintain compliance across complex multi-layered funding structures.

Key Responsibilities

• Strategic Financial Performance: Conduct rigorous monthly balance sheet, P&L, rent roll, and variance analyses across your assigned portfolio. Identify opportunities to optimize NOI, analyze utility allowances and annual rent increases, and evaluate long-term capital structures (including loan refis, re-syndications, and hold/sell modeling).
  

 

• Third-Party Management Oversight: Hold outside property management companies accountable to rigorous operational, physical, and financial targets. Conduct regular audits, review operating budgets, approve non-routine expenses, and establish operational alignment.
  

 

• Regulatory Compliance Oversight: Ensure strict adherence to IRS Section 42 Low-Income Housing Tax Credit (LIHTC) guidelines, HUD APPS/Section 8 regulations, USDA-RD covenants, and bond regulatory agreements. Supervise compliance audits, state agency reporting, and tenant file reviews during ongoing operations and post-acquisition lease-ups.
  

 

• Capital Improvements & Renovations: Partner on physical asset planning, evaluating major capital reserves, monitoring CapEx draws, and tracking scopes of work for substantial rehabilitations (roofing, MEP systems, green energy/solar retrofits, and accessibility updates).
  

 

• Site Inspections & Travel: Conduct routine on-site asset reviews to verify property conditions, curb appeal, deferred maintenance resolution, life-safety standards, and third-party on-site staffing effectiveness.
  

 

• Partner & Agency Relations: Manage communications and filings with lenders, Limited Partners, syndicators, non-profit general partners (MGPs), and local housing authorities.
  

Requirements

Candidate Profile

• Demonstrated Asset Management or Regional Leadership: 4+ years of direct experience in commercial real estate asset management, multi-family portfolio operations, or regional property management within the affordable housing sector.
  

 

• Affordable Housing Acumen: Deep working knowledge of LIHTC (Section 42), HUD Project-Based Section 8/HAP contracts, or USDA Rural Development programs is strongly preferred.
  

 

• Strong Financial Acumen: Ability to analyze property financial statements, understand debt structures, interpret rent rolls against maximum allowable limits, and build financial pro formas. Advanced proficiency with Microsoft Excel is required.
  

 

• Tech-Savvy Operations: Familiarity navigating property management accounting architectures (e.g., Yardi Voyager, RealPage) and federal reporting platforms (HUD APPS).
  

 

• Education & Credentials: A Bachelor’s degree in Real Estate, Finance, Business Administration, Accounting, or a related field is preferred (equivalent practical industry track record valued).
  

 

• Presence & Agility: Strong communication skills suited for executive-level collaboration, entrepreneurial problem-solving, and managing high-trust relationships with external agency partners.
  

Benefits

Excellent benefits, bonus, salary, growth opportunity, learning opportunity, etc.