Asset Manager, REM

EAH Housing San Rafael , CA 94912

Posted 3 weeks ago

This position is for a full time Real Estate Management Asset Manager to work in our corporate office in San Rafael, CA. Qualified candidates will have a Bachelor's degree or equivalent combination of education/training/experience. Ideal candidate will have 5 years as an Asset Manager with experience in reporting to and working with agencies such as HUD, TCAC, CHFA, HOME, USRDA, HCD, RHCP, and investors.

COMPANY OVERVIEW

EAH Housing has been developing, managing and promoting affordable housing since 1968. We are one of the largest and most respected nonprofit housing development and management organizations in the western United States. With a staff of over 450, EAH develops multifamily communities, manages over 100 properties in California and Hawaii, and plays a leadership role in local, regional and national housing advocacy efforts.

At EAH, we put our core values into action on a daily basis. We recognize that training is a critical investment in the success of our employees and in the continued excellence of EAH. Please visit our website to learn more about our culture and read employee comments to learn more about what it would be like to work at EAH.

For immediate consideration, please apply to requisition ASSET02076 on our website at www.eahhousing.org/careers

POSITION OVERVIEW

The REM Asset Manager is directly responsible for ensuring the long-term financial health of EAH properties and that the properties meet EAH, owner and lender requirements. Acting on own initiative, the REM Asset Manager is responsible for reviewing and analyzing the portfolio against benchmark performance and assisting in the development of corrective action plans to address Watch List property issues. This position is integrally involved in monitoring budget-to-actual variances and communicates issues and proposed solutions to the CFO, COO and Vice President of REM. The REM Asset Manager will work closely with the RED Asset Manager on projects relating to portfolio performance.

RESPONSIBILITIES

  • Acts as primary contact for lenders, investors, municipalities and other regulatory agencies for budget questions and approvals.

  • Works with Property Supervisors to analyze budgets against EAH benchmarks and goals and proposes creative solutions to operating cash-flow, financial ratio issues, and long-term capital needs. For long-term issues, works with investor/lender to free up existing reserves or secure an advance, loan or donation.

  • Reviews the Property Supervisor's completed Contract Renewal packets and Management Certifications prior to submission.

  • Reviews budgets and participates in budget review meetings to ensure properties are meeting affordability, operating expense per unit, reserve funding, and surplus cash distribution goals as required under all agreements or regulations.

  • Reviews long-term capital plans for portfolio properties, suggesting adjustments if necessary for investor and lender needs and remains up to date on major projects planned for each year.

  • Monitors portfolio to ensure that operating expenses are in-line with budget and that variance explanations meet EAH and investor/lender requirements.

  • Prepares and tracks all replacement reserve draw requests.

  • Reviews and analyzes all budget reporting information due to investor/lenders and writes a summary narrative.

  • Researches partnership agreements, financing documents, regulatory agreements, tax returns and other source documents to determine constraints and barriers to long-term needs.

  • Works with the Real Estate Development Department to create accurate Pro forma financials and long-term financial plans for new properties.

  • Ensures that all financial plans and regulatory agreements meet asset management requirements. Reports monthly in the Asset Management meeting with any issues.

  • Monitors that properties moving into operations are meeting Pro forma performance through first complete fiscal year of full operations.

  • Completes portfolio analysis and summary reports as requested.

  • Assist the Budget Committee to refine current procedures and workflow.

  • Provides enhanced review and analysis of Watch List properties and properties outside of established benchmarks.

  • Reviews and identifies Regulatory Agreement and Loan Document compliance related restrictions. Creates a summary of restrictions and enters into CRM database. Maintains current information in CRM and or Yardi.

  • Provides budget, asset management and other trainings as required to the Property Supervisors.

  • Identifies and creates reports in Yardi and CRM to help assist Property Supervisors and upper management.

  • Creates a positive work environment with a focus on cross-functional collaboration and teamwork.

  • Attends agency/investor-sponsored training.

  • Attends mandatory meetings and trainings

  • Actively participates in EAH's Injury and Illness Prevention Plan

  • Regular and predictable attendance.

QUALIFICATIONS

Bachelor's degree or equivalent combination of education/training/experience. 5 years as an Asset Manager. Experience in reporting to and working with agencies such as HUD, TCAC, CHFA, HOME, USRDA, HCD, RHCP, and investors

DESIRABLE ADDITIONAL QUALIFICATIONS

  • Knowledge of YARDI

  • COS and LIHTC certified

  • Certified Housing Asset Manager (CHAM)

CRIMINAL BACKGROUND CHECK REQUIREMENTS

EAH Housing conducts criminal background checks on all candidates who have received a conditional job offer. Once you have receive such an offer, you will be required to submit and pass our criminal background requirements. Please be advised that certain roles may also require fingerprinting due to legal requirements. If onsite housing is a requirement of the position, any household members over 18 years of age who will be living onsite with the candidate must also undergo a criminal background check and tenant screening. Satisfactory completion of background check and fingerprinting requirements is a requirement of employment with EAH.

BENEFITS

We offer a comprehensive benefits package that includes medical, dental, vision, disability and life insurance, as well as a 403(b) retirement plan with company match. We also offer a generous vacation accrual, holiday schedule and work schedule flexibility.

EAH Housing is an AA/EEO/Veterans/Disabled Employer. CA BRE #00853495 | HI RB-16985


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Asset Manager, REM

EAH Housing