ASSET MANAGER

A Community Of Friends, Inc.; Los Angeles (CA); On-site; USD 75,000 - 95,000; Full time

Job summary

A Community Of Friends, Inc. is seeking an Asset Manager in Los Angeles, California, to oversee a portfolio of Affordable Housing developments. The role involves managing property management, conducting regular financial reviews, and ensuring compliance with regulations.

The ideal candidate should have 2-3 years of experience in real estate management, a Bachelor’s degree in a relevant field, and strong analytical skills. A valid California driver’s license and vehicle access are required for work-related responsibilities.

Qualifications

• Two to three years’ experience in multifamily real estate development or management with background in affordable housing.
• Minimum three years of experience working with LIHTC.
• Possession of a valid California driver’s license and access to a personal vehicle.

Responsibilities

• Manage a portfolio of affordable housing developments.
• Conduct regular analysis of operating statements, budgets, and other data.
• Perform physical inspections of assigned properties twice a year.

Skills

Asset management activities

Financial analysis

Communication skills

Problem-solving

Education

Bachelor’s degree in accounting, finance or related field

Tools

MS Office Suite

Job description

Description

As a member of ACOF’s Asset Management Department, the Asset Manager will manage a portfolio of Affordable Housing developments through the oversight of property management companies, semi-annual site visits, regular financial reviews, and compliance review. In addition, the Asset Manager will focus on the review and analysis of property level financial data for ACOF’s portfolio, including annual operating budgets, quarterly financial statements, residual receipts analysis, year-end audited financial statements and tax returns. The Asset Manager will also assist the department on special projects related to Partnership Reporting, Workouts and Year 15 exit strategies. The ideal candidate will be able to work in a team building atmosphere and be contributing member in our organization.

Essential Duties

• Be primarily responsible for asset management activities, including oversight of property management agreements, regulatory agreements and requirements; development and oversight of property budgets and financial performance; lender, investor and program compliance reporting; capital needs assessments and planning.
• Maintain clear and consistent communications with property management agents regarding housing objectives and operations as they relate to project budgets, lease-up, maintenance, rent collections, annual monitoring and compliance, rent increases, day-to-day procedural issues, and Agency mission.
• Work closely with the Chief Financial Officer to initiate and review annual financial statement audits.
• Conduct regular analysis of operating statements, budgets and other data relating to asset management.
• Forecast operating performance and capital needs, and report to Director of Asset Management as required and needed.
• Work proactively to identify property performance issues if they arise.
• Work collaboratively with housing, finance and property management staff to create and implement a workout plan or other steps to address performance concerns.
• Perform physical inspection of assigned properties twice a year.

Requirements

• Two to three years’ experience in multifamily real estate development or management with background in affordable housing
• Bachelor’s degree from an accredited college or university in accounting, finance or related field
• Minimum six years work experience may be substituted for college degree
• Minimum three years of experience working with LIHTC
• Possession of a valid California driver’s license
• Access to a personal vehicle to be used to conduct ACOF business
• Ability to meet California minimum and ACOF insurance requirements
• Familiarity with MS Office Suite

Preferred Qualifications

• Master’s degree in business administration, finance, economics, or accounting, or equivalent experience
• Three to five years’ experience with operations and analysis, budgeting, compliance reporting, and financial reporting in a non-profit setting.
• Entrepreneurial and creative approach to problem solving in the field of affordable housing and asset management
• Strong written and verbal communication and analytical skills