Essential functions for this position relate to the responsibility of asset manager including but not limited to:
Project and work to increase cash generated from operations
Understand LPA, waterfall and GP responsibilities for timely distributions to HDC and partners
Understand financing, affordable programs and regulatory requirements
Provide oversight for the portfolio to remain in good standing with the applicable file and physical compliance requirements in governing documents such as loans, partnership agreements, tax credit allocations, affordability restrictions, etc.
Programs: LIHTC, HUD Programs, State and Local programs, HOME, TIF, REAC, RAD, Public Housing, Housing Choice Vouchers, etc.
Monitor and report on property management capacity and performance:
Organize/Monitor data and workflow systems in use at corporate office and at sites to track and plan for critical events
Measure and manage property performance against projections and annual budgets.
Develop project operating forecasts to determine potential operational challenges, corrective actions, and opportunities for improvement.
Review and approve annual property budgets
Review monthly and quarterly operating statements
Review tax returns and audits for portfolio properties.
Respond to questions from lenders, partners, or other approving agencies on property financials
Provide information for internal, board and external presentation of property and portfolio performance and strategic outlook on long term operations
Participate in pipeline discussions of prospective projects and feasibility
Create/review operating projections
Facilitate in project lifecycle transitions (Development to Operations, Re-syndication, Dispositions, etc.)
Work with HDC’s development department to prioritize and advance necessary funding requests and applications
Site visits, curb stops, preventive maintenance contracts, maximizing rents, controlling expenses, marketing, reserve analysis, reserve draws, long-term capital plans
Anticipate and prevent liability risks through monitoring of operational and financial matters:
Legal issues and contracts
insurance
property tax issues/exemption
utility consumption, security
neighborhood issues
Bring Asset Management perspective into communications with internal staff and external parties to achieve property goals.
Work cross-functionally with other departments within HDC to develop and implement annual asset management plans, set operating benchmarks, and achieve defined property goals consistent with HDC’s strategic plan.
Participate in review and development of owner standards for condition of units, buildings, and site within budgetary limitations
Prepare Board reports on portfolio performance, trends, goals, events, etc.
Connect with funders, investors and local partners as owner representative for HDC, developing trust and building consistent and constructive problem-solving approaches
Coordinate all responses to questions from investors/lenders on assigned portfolio
Meet investors during site visits where feasible and on troubled properties
Negotiate with partners and/or lenders to ensure the long-term physical and financial health of the properties.
Maintains internal control system to ensure integrity of data and works to achieve transparency in accounting and financial reporting processes.
Keeps abreast of changes in laws, policies, and HUD regulations related to property operations and ensures adherence to appropriate policies, procedures, regulations, and guidelines.
Promotes equality of opportunity in all aspects of employment, housing management, maintenance, and service delivery, and ensures compliance with all relevant legislation; ensures that qualified individuals are not excluded from participation in, denied the benefits of, or are subjected to discrimination under any program or activity.
