Job Details

Senior Asset Manager

Location: 145 Taylor St, San Francisco, CA 94102

Schedule: Monday - Friday; 9:00 am - 5:30 pm; Hybrid; 3 days onsite, 2 days remote

Overview

Salary Range: $109,984.00 - $122,204.00 Salary/year

Position Type: Full Time

Job Shift: Day

Description

Title: Senior Asset Manager

Reports To: Director of Asset Management

Department: Asset Management

Status: Regular, Full-Time

FSLA: Exempt

Wage Range: $109,984 - $122,204/year

Grant Funded: No

Union Position: No

Summary: Under the general direction of the Director of Asset Management, the Senior Asset Manager is responsible for ensuring that a sub-portfolio of TNDC properties achieves the financial, physical, and social goals and standards of the owner, TNDC, and its funders. Of particular importance is planning property and portfolio re-capitalization and execution of partner exits. Overall, there is exposure to many issues with many opportunities for creative problem solving. This is a very good opportunity for professional development in real estate.

Essential Duties

Financial Well-Being

• Establish and monitor financial performance standards for a portfolio of approximately twenty (20) assets within TNDC's portfolio.
• Monitor and provide input on annual rent setting goals to meet property financial performance targets; monitor annual income certification process and participate, as-needed, in annual file audit strategy.
• Contribute to property Watch listing work-out analysis, discussions, and identification of asset-specific solutions
• Monitor the current and long-term financial status of TNDC projects by reviewing operating budget variance reports and by preparing long-term operating cash flow projections
• Review and manage asset-level data integrity in Yardi (or equivalent), document management, and Microsoft BI dashboards; standardize chart of accounts mapping for analytics
• Contribute to preparation of audited financial statements, i.e., related party fees, contingent liabilities, reserves, and surplus cash analysis and distribution
• Assist Director of Asset Management and Accounting Team in audit tie-out procedures, and provide variance narratives to streamline annual audits and monitoring visits.
• Review audited financial statement draft reports.
• Propose solutions to structural deficits and propose disposition of annual surplus/deficits
• Responsibility for at least one technical specialization for the portfolio, such as property tax, mortgage, HUD contracts, or insurance management.

Physical Well-Being

• Ensure portfolio meets owner physical quality standards
• Approve specific capital improvement project proposals
• Ensure that capital needs assessments are performed on all properties, either internally or from third-party consultants; utilize findings to inform asset management plans, capital improvements prioritization, and/or recapitalization strategies
• For moderate rehabs, serve as owner's rep in preconstruction, change order control, schedule/cost oversight, and relocation planning coordination (with PM and services)
• Assist Facilities Team with establishing portfolio decarbonization and resilience targets (electrification, heat pump conversions, envelope upgrades) with facilities team, receive reports from facilities who track energy/water benchmarking, and help direct appropriate team to pursue incentives
• Complete property site visits annually, to assess operations and physical conditions, with additional site visits as needed.

Portfolio Planning and Re-capitalization

• Write property-specific asset management plans through analysis which finds each properties problems, opportunities and actions
• Contribute to portfolio long-range planning and lead execution of actions, such as re-finance, partner exits, increasing savings or finding new funding sources

Investor/Lender Contract Administration

• Minimize financial risk by ensuring compliance with third party requirements OR Follow the annual compliance calendar (CTCAC/TCAC, CDLAC, HUD, HCD, MOHCD, SF DBI/SFFD where applicable) developed by Director and ensure timely filinge.g., Annual Owner's Certifications, monitoring submissions, rent/income limit updates, utility allowances, and affirmative marketing reporting
• Track and fulfill city monitoring/reporting obligations specific to SF-funded assets, including compliance with recorded affordability covenants and services commitments
• In collaboration with Compliance inspection schedule, monitor stakeholder inspections, findings, and close-outs
• Maintain property asset management plans/deal books that include analysis of most restrictive requirements, services requirements, and other regulatory requirements that need to be tracked annually
• Monitor resident services outcomes that tie to asset KPIs (e.g., tenancy stabilization, reduced arrears/evictions, etc.)
• Provide timely information to and maintain excellent relationships with lenders, investors, and government agencies
• Preparing contract analysis summaries for loan and equity agreements
• Administer loan and equity agreements after initial and final loan closings

Responsibilities Furthering Multiple Owner Goals

• Advance Owner's main objectives by commenting on Property Management policies plans and procedures
• Work with TNDC development staff to create initial operating budgets and project designs that achieve Asset Management goals of long-term financial stability, cost efficiency and well-maintained physical plant
• Participate in new project hand-off from development to asset management and operations, understanding the long-term performance objectives and recording regulatory requirements
• Recommend for approval management plans which accomplish owner's asset management goals
• Assist Director or VP of Real Estate in preparation of quarterly and annual dashboards and memos for Board/Finance Committee and LPsperformance trends, compliance status, capex progress, risk alerts, and strategy updates
• Manage welfare tax exemptions, appeals, and valuation negotiations (as needed).
• Perform other related duties as required

Qualifications

Required Skills:

• Ability to comprehend and correctly use informational documents including budgets, financial reports, occupancy reports, bids, contracts and meeting minutes
• Ability to prepare policies, procedures, compliance reports, investor/owner reports and correspondence
• Ability to comprehend publications and manuals including HUD and tax credit manuals, industry publications and legal documents
• Ability to communicate effectively with coworkers and staff at all levels, residents, government officials, both verbally and in writing
• Ability to stay informed of changes in policy, methods, operations, etc. as they apply to property and asset management operations and activities
• Intermediate knowledge of MS Excel, Word, and Outlook
• Ability to work with and sensitivity to a diverse, low-income, multi-ethnic population
• Sound judgment, excellent analytical and problem-solving skills
• Strong time management skills

Minimum Qualification:

• Four-year college degree
• Five years of direct experience in non-profit owner asset management as a full-charge asset manager.
• Demonstrated abilities in all five of these areas:
• Property Asset Management Plan writing, including Partner Exit Plans
• Capital Needs Projections
• Surplus cash analyses for audits
• Contract analysis
• Project management
• High level specialist knowledge in at least one of these subjects: insurance, property tax, HUD contract renewals/increases, AM design review, or databasing
• Intermediate knowledge of MS Word and MS Excel.
• Two years of experience in quantitative analysis.
• Graduate degree or professional certificates may substitute for experience.

Preferred Qualifications:

• Graduate Degree and/or additional related professional experience
• Intermediate knowledge of property management software or accounting software