Director of Asset Management

ZipRecruiter; Dallas (TX); On-site; USD 90,000 - 130,000; Full time

Job summary

A leading company is seeking a Director of Asset Management to oversee and enhance the performance of a diverse portfolio of affordable housing projects. The ideal candidate will manage a team, drive financial results, and effectively communicate with various stakeholders to ensure successful operational strategies within the Texas market.

Qualifications

• 7 years of supervisory experience with 5 years at the regional property management level.
• Strong understanding of Section 42 (LIHTC) principles.
• Experience in managing multiple properties effectively.

Responsibilities

• Lead and motivate a team of asset managers daily.
• Serve as an Owner’s Representative and maximize profitability.
• Drive asset enhancement initiatives to increase revenue.

Skills

Leadership

Financial Analysis

Communication

Problem Solving

Education

Bachelor’s Degree in Real Estate, Business, or related field

Tools

Yardi/Real Page

MRI Developer Central

Microsoft Excel

Job description

Job Description

Director of Asset Management

REPORTS TO: VP of Portfolio Management

STATUS: Exempt

LDG Development and our affiliated companies are growing rapidly to produce higher levels of much-needed affordable housing across the nation. Our founding belief that "Everyone Deserves a Quality Place to Live" has resulted in an organization that has now achieved #1 Ranking as Affordable Housing Developer. Our focus on our employees and company culture has resulted in being recognized as one of the Top Best Places to Work in Louisville for the past three years. We believe that a stable supporting living environment enables individuals to thrive and achieve their dreams in education, career, and more. The reputation and quality of LDG in all business practices are key to maintaining our goals.

POSITION SUMMARY:

The Director of Asset Management manages the existing portfolio of assets, oversees a team of direct reports who act as the "eyes and ears" of the Owner/GP and LDG for a designated portfolio of communities, aiming to provide the best living experience. The role involves partnering with key stakeholders to mitigate operational and financial risks and supporting Regional Asset Managers and Property Management Companies in the Texas Market.

ESSENTIAL JOB DUTIES AND RESPONSIBILITIES:

1. Lead, manage, and motivate a team of asset managers in the Southeast region daily.
2. Serve as an Owner’s Representative, understanding property issues, identifying problem areas, and pursuing solutions to maximize profitability.
3. Maintain high visibility with extensive contact with internal and external sources related to properties.
4. Handle multiple properties and tasks through lease-up, construction, operations, and compliance periods.
5. Drive asset enhancement and financial results to increase revenue and asset value.
6. Communicate effectively with equity partners, lenders, and internal departments (Accounting, Property Management, Compliance, Construction, Development).
7. Lead the annual budgeting process, reviewing property budgets, presenting to owners, and analyzing for reasonableness.
8. Analyze occupancy levels, income statement variances, tenant AR levels, etc., to ensure profitability.
9. Identify underperforming properties and address issues with property management.
10. Review partnership agreements, loan documents, LIHTC agreements, and applications to ensure compliance with IRC Section 42.
11. Coordinate with Construction and Development Departments regarding construction issues affecting operations.
12. Conduct physical inspections of properties within the portfolio.
13. Ensure timely responses to site inspections and address all Asset Management action items.
14. Participate in group visits to underperforming properties and implement improvement plans.

QUALIFICATIONS:

• 7 years of supervisory experience; 5 years at the regional property management level. Knowledge of Section 42 (LIHTC) principles.
• Bachelor’s Degree in Real Estate, Business, or related field.
• Experience with Yardi/Real Page and MRI Developer Central is a plus.
• Proven leadership, management, and coaching skills.
• Strong financial analysis skills and understanding of real estate accounting principles.
• Ability to interpret complex business documents, including partnership agreements and financial reports.
• Proficiency in Microsoft Office, especially Excel.
• Proactive, independent, strategic thinker with excellent communication and organizational skills.
• Detail-oriented with the ability to see the big picture.
• Effective at exchanging ideas and resolving problems promptly.
• Willingness to travel as needed.