Senior Asset Manager

New York State Homes & Community Renewal; New York (NY); On-site; USD 70,000 - 95,000; Full time

Job summary

New York State Homes and Community Renewal (HCR) seeks an Asset Manager within the Asset Management Unit to oversee LIHTC/HOME/Housing Trust Fund compliance across the agency's affordable housing portfolio. A minimum of 3–5 years in property management or related fields is required.

The role requires a Bachelor’s degree in real estate finance, accounting, or business administration (preferred) and strong analytical, organizational, and communication skills; travel and NYS driver’s license are

Qualifications

• Requires minimum of 3-5 years’ experience in property management of affordable housing or closely related field, which may include real estate finance and/or accounting or business administration.
• Bachelor’s degree in real estate finance, accounting, or business administration, preferred.
• Excellent analytical, organizational, problem-solving, computer & communication (oral & written) skills are essential.
• Certification and/or proficiency with HUD 4350 Requirements and Low-Income Housing Tax Credit Program Compliance, preferred.
• Proficiency in Microsoft Office (Word, Excel, and PowerPoint) are essential.
• Occasional overnight travel and a valid NYS driver’s license are required.
• Physical capacity to perform unrestricted travel and conduct building, unit inspections and on-site regulatory compliance audits.

Responsibilities

• Conduct on-site LIHTC/HOME/Housing Trust Fund/Turnkey/SLIHC/HUD 236/Mitchell Lama/HCR financed/supervised property compliance audits/physical inspections for assigned portfolio of troubled assets and refinance projects.
• Interact frequently with Owners and property managers regarding the operation and management of the property; perform periodic site inspections and management evaluations as required by the project's regulatory agreements and Agency policy Job Opportunities at New York State Homes and Community Renewal
• Implement and enforce the Agency's regulatory requirements regarding financial reporting, property use restrictions, lease analysis and the low-income unit set aside requirements;
• Develop recommendations to enhance the long term financial and physical health of projects assigned to the Asset Manager
• Review financial and operating reports submitted by project owners; upon request, submit periodic Physical and Financial Status reports. Review project operations and record keeping for compliance with applicable laws and regulations
• Prepare field reports, correspondence, and corresponding follow-up to site visits in a timely manner
• Maintain Prolink/SHARS/Samis: set up compliance requirements for new projects, establish applicable income limits and rent maximums in system on an annual basis, import Annual and Monthly reports onto the systems
• Supervise, train, and mentor a team of Asset Managers.
• Pre8609 Reviews: investigate and determine compliance requirements for projects about to be issued 8609s, evaluate annual tenant events in Prolink or any other software used by HCR to ensure that projects are fulfilling all compliance responsibilities as of the issuance date and are performing due diligence in fulfilling federal, state, and local requirements.
• Prepare project-specific income limit and rent charts for assigned portfolio when HUD publishes new MTSP and HERA charts.
• Prepare, evaluate, and import financial data into project's annual risk analysis for assigned portfolio.
• Work with project owners and managers to prepare materials, recommend solutions, action plans, or strategies that will ensure compliance and improve project performance.
• Instructs managing general partners, managing agents and site staff on proper management practices for improving overall operations and compliance with applicable program requirements
• Perform on-going project maintenance activities including review of rent increases, reserve withdrawals, tax and insurance escrows, leases and repair requests.
• Project coordinator liaison between Marketing and FEHO.
• Assist in other functions/duties of the Statewide Asset Management Unit

Skills

Analytical skills

Organizational skills

Communication skills

Problem-solving

Microsoft Office proficiency

Education

Bachelor's degree in real estate finance, accounting, or business administration

Tools

Prolink/SHARS/Samis

Job description

New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State.

A Civil Service exam is not required for this position. Candidates must meet the minimum qualifications outlined below to be considered.

NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility. Our work would not be possible without the diverse backgrounds, experiences, ideas, and abilities of our employees. HCR is committed to developing a workforce which represents the diverse population of New York State. HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency.

The Asset Management Unitis responsible for the asset management and compliance monitoring of the Agency’s existing affordable housing portfolio. This portfolio has been financed under various loan and subsidy programs including HTF, TKEY, HOME, LIHC and SLIHC.

Duties and Responsibilities:

• Conduct on-site LIHTC/HOME/Housing Trust Fund/Turnkey/SLIHC/HUD 236/Mitchell Lama/HCR financed/supervised property compliance audits/physical inspections for assigned portfolio of troubled assets and refinance projects
• Interact frequently with Owners and property managers regarding the operation and management of the property; perform periodic site inspections and management evaluations as required by the project's regulatory agreements and Agency policy Job Opportunities at New York State Homes and Community Renewal
• Implement and enforce the Agency's regulatory requirements regarding financial reporting, property use restrictions, lease analysis and the low-income unit set aside requirements;
• Develop recommendations to enhance the long term financial and physical health of projects assigned to the Asset Manager
• Review financial and operating reports submitted by project owners; upon request, submit periodic Physical and Financial Status reports. Review project operations and record keeping for compliance with applicable laws and regulations
• Prepare field reports, correspondence, and corresponding follow-up to site visits in a timely manner
• Maintain Prolink/SHARS/Samis: set up compliance requirements for new projects, establish applicable income limits and rent maximums in system on an annual basis, import Annual and Monthly reports onto the systems
• Supervise, train, and mentor a team of Asset Managers.
• Pre8609 Reviews: investigate and determine compliance requirements for projects about to be issued 8609s, evaluate annual tenant events in Prolink or any other software used by HCR to ensure that projects are fulfilling all compliance responsibilities as of the issuance date and are performing due diligence in fulfilling federal, state, and local requirements.
• Prepare project-specific income limit and rent charts for assigned portfolio when HUD publishes new MTSP and HERA charts.
• Prepare, evaluate, and import financial data into project's annual risk analysis for assigned portfolio.
• Work with project owners and managers to prepare materials, recommend solutions, action plans, or strategies that will ensure compliance and improve project performance.
• Instructs managing general partners, managing agents and site staff on proper management practices for improving overall operations and compliance with applicable program requirements
• Perform on-going project maintenance activities including review of rent increases, reserve withdrawals, tax and insurance escrows, leases and repair requests.
• Project coordinator liaison between Marketing and FEHO.
• Assist in other functions/duties of the Statewide Asset Management Unit

Qualifications:

• Requires minimum of 3-5 years’ experience in property management of affordable housing or closely related field, which may include real estate finance and/or accounting or business administration.
• Bachelor’s degree in real estate finance, accounting, or business administration, preferred.
• Excellent analytical, organizational, problem-solving, computer & communication (oral & written) skills are essential.
• Certification and/or proficiency with HUD 4350 Requirements and Low-Income Housing Tax Credit Program Compliance, preferred.
• Proficiency in Microsoft Office (Word, Excel, and PowerPoint) are essential.
• Occasional overnight travel and a valid NYS driver’s license are required.
• Physical capacity to perform unrestricted travel and conduct building, unit inspections and on-site regulatory compliance audits.