ASSET MANAGER - Newport Beach, CA
Primary Objective of Position:
The Asset Manager works under the direction of the Sr. Asset Manager to act as a liaison with property management agents, lenders and community partners. This position assists with setting specific asset management objectives and goals and leads the Team to meet these. The Asset Manager oversees property operations to ensure that all properties maintain a strong financial position, comply with contractual, regulatory and statutory requirements, and completes all internal and external reporting requirements in an accurate and timely manner. The team is responsible for annual budgeting, oversight of capital improvement projects, lender and investor reporting, Board reporting, financial analysis, funding applications, refinancing and initiating limited partner buyouts.
Major Areas of Accountability:
- Monitors the fiscal status of all communities – including monthly financial statement review, monitoring vacancy, administration of reserves, implementation of solutions for properties which are not meeting performance targets, and governing documents compliance
- Researches partnership agreements, financing documents, regulatory agreements, tax returns, audits and other source documents as needed
- Administers the physical improvement plan of all communities – includes PNAs, long term improvement plans, reserve withdrawal processing, oversight of capital improvements, disaster contingency plans
- Manages and evaluates third party property management companies
- Ensures and supports timely and accurate reporting to investors, lenders, agencies, corporate boards
- Manages the leaseup process for newly developed properties, coordinates these efforts with third party property management companies and ensures that rents and tenant mix is in compliance with governing documents
- Participates in the development process for new properties – including review of selected materials and proposed operating budgets
- Responsible for annual property processes – including preparation of operating budgets, site inspections, filing of welfare exemptions and resident demographic and satisfaction surveys
- May supervise and train asset management staff
- Maintains databases and collection of demographic data on residents
- Other duties as assigned
Level of Education, Experience and Skill Set:
- Bachelor’s Degree or equivalent
- Five plus years’ experience preferred
- Supervisory experience preferred
- Tax credit compliance certificate preferred
- Knowledge of municipally financed multifamily projects, tax credits and HUD
- Experience in affordable housing, fair housing laws, property management/operations and practices. Mobile home law experience preferred.
- Knowledge of methodologies for budgeting and cash forecasting, financial analysis and portfolio asset management practices
- Skilled in usage of spreadsheet and word processing computer software
- Detail oriented with a good, strong ability to think and communicate strategically
- Strong verbal and written communication skills; including ability to effectively give presentations
- Valid California driver’s license, clean DMV record and personal insured vehicle for travel within Jamboree’s service area
- Job may include occasional evening or weekend work hours
The Asset Manager is required to talk and hear. The employee is often required to sit and use their hands. Vision abilities required by this job include close and far vision. Ability to, operate a computer keyboard, and lift files and reports. Exposure to glare from a computer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Must be able to lift 25 lbs and travel via automobile and/or plane 25%.
The work environment will usually be in a professional office setting, with possible shared workspace. The noise level is usually quiet to moderate. When traveling the environment will change dependent upon the site visiting.
Gillian Executive Search, Inc. is a leader Mutlifamily Asset Management searches.
Contact: Kipp Gillian | Gillian Executive Search, Inc. | 866-600-0437 x1