Asset Manager

Description

Who We Are

For Nearly 40 years. Resources for Community Development (RCD) has been a leading regional nonprofit developer and owner of affordable housing. RCD’s mission is to create and preserve affordable housing for people with the fewest options, to build community and enrich lives. RCD fosters strong, inclusive neighborhoods through strategies that address the health, economic development, education, and housing needs of residents across the community.

Since RCD was established in 1984, we have developed or preserved over 65 communities that provide affordable, high-quality, and service-enriched affordable rental housing to over 2,300 low-income households throughout the Bay Area. Through a robust pipeline, RCD is actively growing, with close to 1,000 new units of affordable housing in development or under construction. RCD strives for excellence, and we are seeking an outstanding candidate to join our team.

The Role

The Asset Manager (AM), under the direct supervision of RCD’s Associate Director of Asset Management, will be responsible for various asset management activities relating to RCD’s multifamily affordable housing portfolio. The candidate will join a growing team with a strong track record, industry position, and trajectory. In this position, you will work closely with a variety of partners and stakeholders, including lenders, investors, property management, and social services professionals, as well as with key members of RCD’s senior leadership team. You will help guide the management of a growing real estate portfolio and company that assigns equal value to financial performance as it does the resident quality of life. We are looking for someone who is detail-oriented, a critical thinker, and a problem solver and is also good with people and has a passion for real estate and a desire to effect social change. Join us!

Essential Responsibilities: 

• Core member of the portfolio and asset management team
• Manage a portfolio of rental housing to meet or exceed corporate revenue targets while maintaining or improving the financial and physical condition of the underlying real estate
• Indirect management of the property management company, John Stewart Company, as well as representing RCD in management-related issues and decision-making
• Engage in portfolio-level capital planning, business planning, and financial management
• Assigned asset management responsibilities in cross-departmental arenas, including real estate development and resident services, as needed

General

• Develop, implement, and maintain property-level asset strategies directed toward the financial and physical well-being of the asset and its eventual financial repositioning, as needed
• Monitor Key Performance Indicators, contribute to property watch list process for troubled assets and oversee necessary property modifications through to resolution
• Support quality control, accuracy, and timeliness of key areas of real estate administration, including compliance tracking; lender and investor reporting; subsidy administration; property-level legal proceedings and exposure; and insurance claim administration
• Given third-party property management by the John Stewart Company, routine and continual communication and coordination with property management staff regarding operational issues that require owner input

Financial

• Manage portfolio of properties to corporate revenue targets
• Support the maintenance of RCD’s property financial tracking systems and databases
• Negotiate annual operating budgets and present for approval
• Conduct quarterly financial performance reviews with property management staff
• Participate in the annual audited financial statement process and review
• Issue accounting guidance and directives to the property management company
• Manage capital planning and reserves, authorize withdrawals, and present significant expenditures for approval
• Support layering of new financing, refinancing events, and loan modifications

Physical

• Implement capital improvement plans in coordination with RCD’s Portfolio Project Manager
• Collaborate on property-level physical plant initiatives as assigned
• Conduct annual site visits

Business Planning & Financial Management

• Support Senior Asset Manager in transactional work pertaining to Year 15 acquisitions of LIHTC investor positions
• Support Portfolio Project Manager in applications for and transactions related to new financing for identified properties and the resulting property renovation
• Recommend annual fee targets for portfolio of housing

Requirements

Qualifications & Skill Set:

• 2 years of experience in asset or property management or real estate development or another field with transferrable skills
• Familiarity with affordable housing financing and subsidy programs preferred
• Team player with a ‘can-do’ attitude and an outlook that problems are to be solved
• Strong interpersonal skills and an ability to indirectly manage others
• Clear and effective verbal and written communication
• Strong organizational skills and an ability to juggle and prioritize multiple responsibilities
• Demonstrated ability to analyze property financial statements
• Strong Excel ability 
• Salesforce database development and maintenance and business analytics solutions knowledge a plus
• Experience with property management and financial accounting systems a plus, such as: MRI, Boston Post, Yardi, Sage, RealPage
• Associate degree required; bachelor’s degree preferred or other transferrable experience
• Industry training certifications or accreditations a plus (CHAM, IREM, LIHTC, etc.)

Work Environment

RCD is currently practicing a hybrid work model. Depending on your distance from our main office in Berkeley, you will be expected to work up to two days in the office.

Travel Requirements

The responsibilities of this position will require occasional travel to off-site locations around the San Francisco Bay Area.

Physical Requirements

While performing the duties of the job, the employee is regularly required to sit, speak and hear. Requires frequent use of a keyboard, computer monitor and phone. Must be able to communicate clearly, both verbally and in writing. Must be able to lift up to twenty (20) pounds occasionally. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions of the job.

Application Procedure & Compensation

Applicants should send a cover letter, resume via Paylocity. Applicants with suitable experience and/or skills will be contacted for interviews. People of historically marginalized groups are strongly encouraged to apply.

RCD offers competitive benefits including: paid vacation and sick leave; health, dental, vision, life and long-term disability insurance; pre-tax flexible spending and commuter plans; and employer contributions to a retirement savings plan.

The salary range for this position is $93,000 to 127,700. Exactly where a prospective employee will be paid within this range will depend on, among other factors, the actual salary ranges for current and former employees who are either currently filling a similar role or did in the past; the candidate's depth of experience and qualifications; the level of specialization the role requires; budgetary considerations; the market demand for that role, and the local market conditions where the employee will be based. For current RCD employees, tenure will also be a consideration. 

RESOURCES FOR COMMUNITY DEVELOPMENT IS AN EQUAL OPPORTUNITY EMPLOYER

Salary : $93,000 - $127,700