Our client located in Nashville, TN is seeking an experienced Asset Manager to join their growing team in the Affordable Housing Industry.
Position: Asset Manager
Direct Hire
Hybrid Schedule
Salary: $85,000 - $125,000
The Asset Management Associate will report to the Senior Asset Management Associate. This is an in-office, Nashville-based position with a travel requirement of up to 40%.
Responsibilities- Oversee Daily Operations of a Portfolio of 2,000+ units
- Conduct regular site visits to hold onsite teams accountable while building trust and setting clear expectations.
- Monitor all incident reports and communicate with insurance agents to mitigate losses.
- Lead Weekly Operations Calls with Third Party Property Managers of assigned portfolios.
- Utilize Internal Reports to inform business decisions for assigned portfolios.
- Track and coordinate lender inspections for assigned portfolios and ensure that any required repairs are completed.
- Track all compliance related items and ensure that all metrics and deliverables are handled in a timely manner.
Manage Financial Health of a Portfolio of 2,000+ units- Review monthly financial statements for Portfolio; provide notes and explanations for any variances to budget, flag items that require accrual/reclass, and monitor distributable cash projections.
- Handle approvals for any major operational expenses that land outside of budget.
- Closely monitor operational cash balances and notify Senior Asset Management Associate of any potential shortfalls and/or funding requests.
- Leverage external and internal reports to monitor market rents for assigned portfolio assets; handle the approval of rent changes and concession offerings based on these findings.
Run, Review, and Analyze Internal and External Reporting- Review all third-party ops reports for assigned portfolios; flag any trends, outliers, and oddities that require further explanation from Ops.
- Provide action plans for assets that are in distress; closely monitor performance of action plan assets with the goal of reaching re-stabilization.
- Provide variance notes and additional insights during the monthly internal review of the Summary of Asset Performance (SOAP) Report.
- Serve as point person for all ad hoc reporting requests pertaining to the assigned portfolio.
Participate in Annual Budgeting Processes- Conduct capital walks for assigned portfolios in preparation for the upcoming budget year.
- Work closely with Ops in the review of portfolio budgets; check math, verify assumptions using knowledge of assets and market conditions, push for explanations and narratives, etc.
- Create business plans for assigned portfolios based on budgeted projections.
- Present Senior Asset Management Associate with near-final versions of budgets and business plans for assigned portfolios.
- Assist in the final presentation of budgets and business plans to the Director of Asset Management.
Required Experience- Bachelor's Degree Required; focus in Real Estate, Finance, or Business preferred.
- 5+ Years of Multifamily Operational Experience preferred but not required.
- Experience in Affordable Housing Operations and Compliance is preferred but not required.
- Valid Driver's License with ability to commute to properties as needed.
- Proficiency in Excel, with the ability to build new reporting templates as needed.
- Ability to analyze Income Statements, with an eye for identifying trends and changes.
- Strong communication skills with ability to address issues in real time clearly, concisely, and professionally.
