Asset Manager (7070 - Asset Management)Remote Position/Based in Oregon

Eahhousing; Estacada (OR); Remote; USD 86,000 - 141,000; Full time

Benefits offered by this job

Medical Insurance

Dental Insurance

Vision Insurance

Retirement 403(b) with 5% match

Vacation time (15 days)

Sick leave (10 days)

13 holidays

Wellness program

Job summary

EAH Housing, a nonprofit housing developer and manager, seeks an Asset Manager to oversee financial and physical health of properties, report on budgets, and ensure compliance with lender and owner requirements. The role collaborates with REM and RED teams and participates in asset management planning.

Based in Oregon with a remote work option, this position requires 3–5 years in affordable housing and experience with HUD, TCAC, CHFA, HOME and investor reporting.

Qualifications

• Bachelor’s degree or equivalent combination of education/training/experience.
• 3–5 years in affordable housing.
• Experience reporting to agencies such as HUD, TCAC, CHFA, HOME, USRDA, HCD, RHCP and investors.

Responsibilities

• Acts as primary contact for lenders, investors, and regulatory agencies for budget approvals.
• Reviews and distributes annual audits to lenders, investors, and regulatory agencies.
• Submits monthly, quarterly, and annual reporting as required by lenders, investors, and regulatory agencies.
• Analyzes budgets against EAH benchmarks and proposes solutions for cash flow and capital needs.
• Confirms rent policies and sets goals for rent adjustments within regulatory guidelines.
• Reviews budgets and participates in budget review meetings to ensure rent affordability and reserve funding.
• Assists Budget Committee to refine procedures and workflow.
• Reviews, tracks, and submits reserve draw requests.
• Monitors long-term capital plans for portfolio properties.

Skills

Budget analysis

Financial reporting

Lender communication

Regulatory compliance

Education

Bachelor's degree or equivalent

Tools

Yardi

MRI

Job description

Explore a career at EAH Housing.

Start or continue a career in real estate development and management with EAH Housing. We are looking for talented and skilled professionals as we expand our property portfolio throughout California and Hawai`i. As a mission-based nonprofit organization and industry leader for more than 50 years, we live up to our values, and work to create opportunities to empower people to live better lives. Join us and make a difference today.

What we offer.

We offer a comprehensive benefits package that includes medical, dental, vision, disability and life insurance, as well as a 403(b) retirement plan with a 5% match. We also offer generous vacation accrual, holiday schedule, and work schedule flexibility.

We believe in work / life balance.

• 15 days of vacation per year (which increases based on years of service)
• 10 paid sick days per year
• 13 paid holidays

We take care of our employees.

• Competitive Salaries
• 403b Retirement Plan with 5% company match
• EAH Wellness Program
• Comprehensive Employee Medical Insurance
• Affordable Dental & Vision Insurance
• Flexible Spending Account
• EAP – Mental Health, Financial and Legal Services
• $1,500 Employee Referral Program
• EAH University, an in-house training program

This position is for a full time Asset Manager to work in Portland, Oregon. Candidates should be based in Oregon. This is a remote position. Qualified candidates will have a Bachelor’s degree or equivalent combination of education/training/experience. Ideal candidate will have 3 - 5 years in affordable housing.1+ years reporting to and working with agencies such as HUD, TCAC, CHFA, HOME, USRDA, HCD, RHCP, and investors. Salary range: $85,500.00 - 140,600.00 per year; hiring range for new employees is generally $85,500.00 - $113,050.00 per year, DOE. Please note an offer will take into consideration the experience of the final candidate and the current salary level of individuals working at EAH in a similar role.

Company Overview

Established in 1968, EAH Housing is one of the largest and most respected nonprofit housing development and management organizations in the western United States. EAH develops low-income multifamily housing, manages more than 222 properties throughout in California and Hawai’i, and plays a leadership role in local, regional, and national housing advocacy efforts.

EAH Housing puts its core values into action every day as our staff of 700 people serves 25,000 residents in 87 municipalities. We offer competitive wages, comprehensive benefits, professional development, and invest in our employees through extensive training programs. Please visit our www.eahhousing.org to learn more about us, our culture, and how we strive to maintain excellence in everything we do.

Position Overview

Directly responsible for ensuring the long-term financial and physical health of EAH properties and that the properties meet EAH, owner, and lender requirements. Acting on own initiative is responsible for reviewing and analyzing the portfolio against benchmark performance and assisting in the development of corrective action plans to address Watch List property issues. This position is integrally involved in monitoring budget-to-actual variances and communicating issues and proposed solutions to Real Estate Management (REM) and Real Estate Development (RED) departments as well as Senior Management.

Responsibilities

• Acts as primary contact for lenders, investors, and regulatory agencies for budget approvals.
• Reviews and distributes annual audits to lenders, investors, and regulatory agencies.
• Submits monthly, quarterly, and annual reporting as required by lenders, investors, and regulatory agencies.
• Works with REM Directors/Property Supervisors to analyze budgets against EAH benchmarks and goals and proposes creative solutions to operating cash flow, financial ratio issues, and long-term capital needs.
• Works with the Compliance Director to confirm Maximum Rent, establish rent burden policies, and set goals for annual rent adjustments/increases.
• Reviews budgets and participates in budget review meetings to ensure properties are meeting rent increase objectives, affordability, operating expenses per unit, reserve funding, EAH affiliate fees, and surplus cash distribution goals required under all agreements or regulations.
• Assists the Budget Committee to refine current procedures and workflow.
• Reviews, tracks, and submits all reserve draw requests.
• Reviews long-term capital plans for portfolio properties.
• Monitors portfolio to ensure that operating expenses are in line with budget and that variance explanations meet EAH and investor/lender requirements.
• Manages LIHTC capital accounts through annual analysis and exit tax projections.
• Ensures that all financial plans and regulatory agreements meet asset management requirements.
• Reports quarterly in the Asset Management meeting with any issues.
• Provides enhanced review and analysis of Watch List properties and properties outside of established benchmarks.
• Monitors properties moving into operations and ensures that these properties meet pro forma performance through the first complete fiscal year of full operations. Prepares DCR worksheets for perm loan closing.
• Completes Asset Management Plans and summary reports as required.
• Maintains and updates fields and information in MRI including important dates and loan information as required.
• Identifies and creates reports in Yardi and MRI to help assist Property Supervisors and Senior Management.
• In collaboration with REM, prepares initial operating budgets for RED to incorporate into their development proformas.
• Attends agency/investor-sponsored training.
• Attends mandatory meetings and training.
• Actively participates in EAH’s Injury and Illness Prevention Plan.
• Regular and predictable attendance.

Qualifications

Education - Bachelor’s degree or equivalent combination of education/training/experience.

Experience - 3 - 5 years in affordable housing.1+ years reporting to and working with agencies such as HUD, TCAC, CHFA, HOME, USRDA, HCD, RHCP, and investors.

Desirable Additional Qualifications

AMS/CHAM Designation

Knowledge of YARDI & MRI

Accounting and/or Finance Education

Criminal Background Check Requirements

EAH Housing conducts criminal background checks on all candidates who have received a conditional job offer. Once you have received such an offer, you will be required to submit and pass our criminal background requirements. EAH also verifies education and employment history. Any verified discrepancy (resume or online application) may delay your background check results and/or affect your eligibility to work at EAH. Please be advised that certain roles may also require fingerprinting due to legal requirements. If onsite housing is a requirement of the position, any household members over 18 years of age who will be living onsite with the candidate must also undergo a criminal background check and tenant screening. Satisfactory completion of background check and fingerprinting requirements is a requirement of employment with EAH.

DRUG TESTING

EAH Housing requires all candidates who have received a conditional job offer to submit to drug testing within 72 hours from acceptance of our job offer. EAH Housing does not test for marijuana/cannabis. Satisfactory completion of drug testing is a requirement of employment with EAH.

EAH Housing is an EEO Employer. CA BRE #00853495 | HI RB - 16985

INDEAH