Asset Manager I

MaineHousing; Augusta (ME); On-site; USD 41,505 - 50,728; Full time

Benefits offered by this job

Comprehensive benefits package

Health, dental, and vision insurance

Retirement options with employer match

Public Service Loan Forgiveness Program

Job summary

A state housing authority in Maine is seeking an Asset Manager I responsible for overseeing compliance for multifamily housing projects. The role involves interacting with management companies and federal agencies, conducting project reviews, and maintaining regulatory adherence. The ideal candidate should have relevant experience in the affordable housing sector, strong organizational skills, and a comprehensive understanding of state and federal regulations. An attractive compensation package and benefits are offered with this position.

Qualifications

• Understanding of legal documents and regulatory guidelines is preferred.
• Proficiency with various software applications is important.
• Ability to maintain good relationships with business partners.

Responsibilities

• Assist with regulatory oversight of projects within the multifamily portfolio.
• Conduct reviews to ensure compliance with federal, state, and agency regulations.
• Provide support in processing ownership transfers.
• Conduct on-site inspections of properties.

Skills

Experience working with multifamily real estate

Ability to understand and interpret regulatory documents

Strong project management and organizational skills

Strong communication skills

Proficiency in Microsoft 365

Education

Education and two years of relevant work experience

Tools

Microsoft 365

ShareFile/SharePoint

Job description

Description

Primary Purpose of Position

The Asset Manager I assists with the oversight of regulatory administration of some of the more standardized projects within MaineHousing’s multi‑family portfolio as well as properties under the PBCA contract held with Housing and Urban Development (HUD). The position is responsible for working with Asset Manager II’s and Asset Manager III’s, owners and management companies throughout Maine as well as federal regulatory agencies providing funding and contract work.

Education and Experience

Education and two years of relevant work experience or a combination of education and training preferred. Experience with comprehending and interpreting legal documents and regulatory guidelines, and experience with the affordable housing industry highly desired.

Certifications and Licenses

• Certified Occupancy Specialist Training (COS)*
• Fair Housing Training
• Develop competency with multiple department databases: Prolink, HDS, HUD Secure Systems

*Training and certifications to be obtained within the first year of employment or as the courses become available

Core Functions

• Review projects for compliance to federal, state and agency regulatory requirements and proactively monitor to anticipate developing issues and risks that could impact MaineHousing’s financial exposure in the investments.
• Conduct management and occupancy reviews to ensure management practices and occupancies conform to the regulatory requirements that are specific to each project.
• Review of management documents, which may include Management Plans, Management Agreements, Marketing Plans, Tenant Selection Plans, and leases whenever a document changes or an ownership or management change occurs to projects in portfolio.
• Assist in drafting Notice of Violations and defaults when non‑compliance is identified, follow‑up on reporting and program compliance.
• Work closely with Asset Manager II and III’s and Portfolio Manager in resolving the more complicated program or administrative issues.
• Perform essential key tasks required under the Performance Based Contract Administration (PBCA) held with HUD.
• Conduct management and occupancy reviews to ensure management practices and occupancy conform to the HUD regulatory requirements specific to each project.
• Provide timely reporting of results of the review to owners (within 30 days).
• Perform on‑site inspection of the property’s physical plant conditions.
• Timely response to tenant inquiries regarding any life safety concerns.
• Assist with Sec 8 Contract Renewal Process, Rent Increases and Special Claims.
• Maintain working knowledge of various federal and state program regulations applicable to the portfolio including Bond regulations, Code of Federal Regulations, HUD Handbook 4350.3, Sec 8 Contract Renewal Guide, Special Claims, Fair Housing Laws and Section 504 Requirements as well as any new programs coming online.
• Apply the appropriate requirements to the projects assigned.
• Provide training and technical assistance to owners and management agents.
• Respond to resident, owners, managers, and other external inquiries and issues through telephone, written, and electronic mediums.
• Provide support to the Asset Manager II and III’s in processing ownership transfers that include a subsequent loan component.
• Other duties as assigned.

Skills and Knowledge

• Experience working with multifamily real estate.
• Ability to understand and interpret regulatory documents and State and Federal statutes and regulations.
• Strong project management, time management, and organizational skills.
• Strong PC skills using various software including Microsoft 365 (especially Word and Excel), ShareFile/SharePoint, Windows, internet browsers.
• Ability to establish and maintain good working relationships with business partners.
• Excellent communication skills – speaking, writing, and listening via phone, email, and in‑person meetings.
• Ability to communicate effectively in front of groups.
• Ability to take initiative, work independently, and use creativity and analytical skills to resolve complex issues among multiple parties.

Working Conditions

Fast paced environment with multiple priorities, interruptions & deadlines. Work hours may include some nights, weekends, and travel in and out of state. MaineHousing office hours are Monday – Friday from 8:00am to 5:00pm. Telework options may be considered, if appropriate, after 6 months employment.

Reports To

Reports to: Portfolio Manager Supervises: No one

Compensation

The starting hourly rate for this position is $22.1716 (annual $46,117), plus a comprehensive benefits package, including, but not limited to, health, dental and vision, retirement options with employer match, life insurance, short and long‑term disability, employee assistance, generous earned time and all major federal holidays. Employment is eligible for the Public Service Loan Forgiveness Program.