Job Summary: The Asset Manager will join the Director of Asset Management and one existing Senior Asset Manager in advancing owner objectives in the rental housing portfolio in: long-term financial and physical well-being, achievement of social goals, and effective investor/lender relationships.
North Beach neighborhood, San Francisco
Monday through Friday, Regular business hours
DOE, Comprehensive Benefits
The Organization: A private non-profit founded in 1977, Chinatown Community Development Center believes in a comprehensive vision of community. We manage 29 affordable housing buildings serving over 2,800 low-income seniors, single adults, formerly homeless adults, and families of diverse ethnic and cultural backgrounds in San Francisco’s Chinatown, Tenderloin, Western Addition, and Polk Gulch neighborhoods. We also build housing, develop grassroots leadership, and engage low-income residents and youth. Our employees are passionate about the mission; thrive in a family organizational culture; and embody values of empowerment, teamwork, and compassion. Chinatown CDC serves a diverse population and is committed to hiring practices that provide culturally competent services. We encourage people of color to apply.
The Asset Manager may participate, assist or lead in the following projects:
- Monitor financial performance standards of assigned portfolio.
- Monitor the current and long-term financial status of CCDC projects by reviewing budget variance reports and audited financial statements, and by preparing long-term operating cash flow projections.
- Provide analysis and recommendations for annual rent increases.
- Propose solutions to structural deficits and propose disposition of annual surplus/deficits for assigned portfolio.
- Assist development of workout plans for properties that are not performing to standards.
- With Property Management assist preparation and review of annual operating budget writing.
- Handle property tax related matters including valuations and exemptions, including challenges to Board of Equalization findings, initial exemption filings, and annual exemption filings.
- Monitor physical condition of CCDC properties through periodic inspections; recommend capital improvements and/or specific maintenance enhancements where needed.
- Commission capital needs analyses, participate in evaluation inspections, obtain verification and agreement on the content of the report.
- Assist in capital project planning across the portfolio.
- When repairs or rehabilitation require the participation of CCDC’s Housing Development Department, work closely with the assigned Project Manager to develop plans for scope of work and financing, and to ensure a successful project.
Investor/Lender Contract Administration:
- Ensure that documentation for each property is complete and well-organized, especially during predevelopment and at final loan closings.
- Develop most restrictive analyses of over-lapping regulatory restrictions and requirements.
- Work with property management staff, accounting staff, and the Asset Management Assistant to prepare and submit periodic monitoring reports to public agencies, lenders, investors, and partners on a timely basis.
- Preparation of deal books that summarize the details of a project’s structure and obligations.
- Financial contract administration, including loan closings, annual contract rent increases, loan renewals, renegotiations, limited partner buyouts, and other end of contract term matters.
Responsibilities Furthering Multiple Owner Goals:
- Development of asset management plans that express the owner’s goals and strategies in particular properties.
- Participate in the development of policies and procedures that ensure Asset Management and CCDC can meet their goals of long-term financial stability, cost efficiency, and well-maintained properties.
- Perform risk assessments and risk management related to position’s portfolio.
- Perform other related duties as required.
Knowledge, Skills, and Experience:
- Exercise good judgment, assessment and have good problem solving skills
- Excellent writing and communication skills
- Exercise independent judgment appropriate to the position
- Transfer lessons learned between similar tasks and projects
- Strong time management skills
- Work collaboratively with people in other departments and skill levels
- Engage diplomatically and effectively with lenders and regulators
- Dependability, initiative, and follow-through
- Ability to work with, and sensitivity to, a diverse, low-income, multi-ethnic population.
- Four-year college degree
- Advanced degree in related academic field or two years of experience, or partial experience, in one or more of the following:
- asset management
- residential or commercial property management
- financial management
- housing development
- full-charge accounting
- internal auditing
- contract administration
- Intermediate knowledge of MS Word and MS Excel or comparable word processing or spread sheet programs.
- Two years of experience, or partial experience, in quantitative analysis.
- Graduate Degree and/or additional property management experience
- Familiarity and effectiveness with fiscal, physical/maintenance, regulatory, and tenant relations aspects of property management
- Familiarity with MOHCD and HCD programs and procedures
- Training and experience in HUD and Tax Credit programs
- CPM, NAHP, CHAM or other certification related to housing development, property or asset management
Please click on the link below or visit our website at www.chinatowncdc.org to complete an online application.