Asset Manager

Laurel Street Residential; Charlotte (NC); On-site; USD 90,000 - 150,000; Full time

Job summary

Laurel Street Residential seeks an Asset Manager to oversee a portfolio of affordable multifamily communities, focusing on financial performance, regulatory compliance, and long-term value. You will partner with property management, development, accounting, and investors to execute business plans and protect cash flow.

You will lead budgeting, forecasting, and capital planning, while monitoring occupancy, rent collections, and subsidy programs.

Qualifications

• Bachelor's degree in Finance, Real Estate, Business, or related field; advanced degree preferred.
• 3–5 years of relevant multifamily asset management or affordable housing experience expected.
• Strong financial modeling, budgeting, variance analysis, and ability to interpret loan documents.

Responsibilities

• Monitor property-level financial and operating results against budgets and KPIs; identify variances and drive corrective action.
• Lead annual operating budgets, forecasts, cash flow analyses, and long-range capital planning; assess liquidity and funding gaps.
• Review monthly financial statements, operating expenses, NOI, debt service coverage, and accounts receivable.
• Oversee reserves, draw requests, and compliance with approval requirements.
• Hold management partners accountable for occupancy, leasing velocity, rent collections, and expense controls.
• Oversee lease-up and stabilization of new communities; coordinate with development, compliance, and operations teams.
• Conduct site inspections, monitor capital projects, insurance matters, and incidents.
• Assess rent strategies, subsidy receipts, and revenue opportunities within program restrictions.
• Prepare asset performance reports and updates for ownership, investors, and lenders.
• Monitor loan covenants, reporting deadlines, reserve requirements, and financing obligations.
• Support financing transactions through financial analysis and due diligence.
• Maintain relationships with internal teams, limited partners, lenders, housing authorities, and external stakeholders.
• Partner with compliance to oversee LIHTC adherence and program obligations.
• Coordinate annual audits, agency inspections, and responses to findings.
• Ensure timely delivery of complete financial information.

Skills

Financial modeling

Budgeting

Variance analysis

Interpreting financial statements

Stakeholder coordination

Written communication

Education

Bachelor's degree in Finance/Real Estate/Accounting

Advanced degree preferred

Tools

Excel

Job description

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

• 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; escalates 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.