Asset Manager

Job Description

Job Description

Position Summary :

Park City Communities seeks a results-driven Asset Manager to oversee the daily operations of PCC's public housing portfolio and third-party management companies to ensure our assets' seamless management and optimization, increasing their value and minimizing risks.

The Asset Manager will conduct risk analyses, review policies, and develop strategies to maximize asset growth. Responsible for preparing financial, asset management, and investment reports.

An experienced Asset Manager should know about real estate and have a solid financial background. This position reports to the Chief of Property Operations.

Key Duties / Essential Job Functions :

• Engage with management in creating an annual operating budget for each property and manage operations against the budget.
• Keep an updated tracker of critical operational metrics for each property.
• Visit and conduct regular property inspections to ensure compliance with funder / investor standards for cleanliness, safety, and overall aesthetics.
• Optimize the collection of property rents monthly and employ strategies to improve collections by property.
• Keep property management staff incentivized and educated regarding the agency's mission and vision.
• Monitor resident feedback to maintain exceptional satisfaction ratings.
• Ensure compliance with regulatory and lender requirements and property agreements for all PCC's public housing units and subsidiary entity units :
• Review regulatory and programmatic requirements of HUD's public housing program.
• Review the existing LLC, LP, and HDFC closing binders, including Partnership Agreements, Management Agreements, and other regulatory agreements, and compile a comprehensive database by project.
• Be the point person and maintain our relationship with third-party management company.
• Oversee required quarterly financial and annual reports, audits, annual certified rent rolls, and other submissions to government agencies, project partners, syndicators, lenders, and funders according to each project's sources, uses, and regulatory requirements.
• Oversee management's correction of issues and written responses to all building and unit inspections, including HQS, insurance, and lender / syndicator, as well as tenant file reviews to maintain rental subsidies.
• Set up organizational protocols to ensure the flow of information between the Modernization and Finance Department from project inception through construction, management, and disposition.
• Ensuring the portfolio's returns are maximized.
• Hiring key personnel, including property managers, working with certified occupancy specialists and leasing agents.
• Manages the cash flow from properties within the portfolio and tracks and improves budget variances.
• Performing regular property and unit inspections to oversee the physical condition of the properties and plan for long-term ownership.
• Troubleshooting facility challenges, supervising consultants, and planning for capital improvements.
• Incorporating resident feedback into operational oversight and decisions.

Education / Qualifications : Bachelor’s degree is required, preferably in public administration, business administration, public policy, urban planning, law, finance, economics, or a related field, a must.

Master's degree is preferred. PLUS, 3-5+ years of professional experience in the LIHTC program and federally subsidized housing (i.

e., public housing, section 8, and / or multifamily) is a must. Experience in public finance, government, asset management, real estate development, property management, architecture, engineering, and / or construction project management is a plus.

• Strong working knowledge of construction, capital planning, and systems management is a plus.
• Ability to read income and expense statements and create budgets and variance reports. Ability to read and comprehend legal documents, including loan documents, contracts, tax credit partnership agreements, budgets, and analytics reports.
• Strong intellect and strategic thinking with solid quantitative, financial, and analytical skills.
• Excellent organizational skills with meticulous note-taking and the ability to coordinate complex activities, prioritize conflict demands, and meet deadlines.
• Effective communication skills with both property staff and internal team members.
• Strong skills in time management. Self-starter, able to work independently and create own deadlines.
• Strong computer skills with thorough MS Word, Excel, and Outlook knowledge. YARDI is a strong plus.

Working Conditions / Physical Requirements :

Typical office environment and able to attend meetings, training, and travel to PCC sites unaccompanied.

Benefits

• State of CT 2.0 Partnership Healthcare Plan w / HEP + Dental & Vision
• Employee Assistance Program (EAP)
• Employer paid group health life insurance $25,000
• CT Municipal Employee Retirement System Employee 4.75% contribution, Employer Cost share 19.57% (5-year vesting)
• PTO or Vacation, Sick & Personal Days
• 13 paid holidays per calendar year
• Professional growth and development opportunities
• Eligible Public Service Loan Forgiveness employer
• Tuition Reimbursement
• Employee discount perks via ADP services
• Supplemental Insurance Retirement
2 days ago