The Asset Manager monitors property performance and maximizes property revenue. The Asset Manager will provide strategy, direction, and oversight for leasing and management teams to maximize top line revenues and to ensure appropriate cost control measures are achieved and all potential lease transactions are consistent with the prevailing market condition.
- Responsible for the collection and reporting of property level and portfolio financial performance and budgets.
- Conduct variance analysis at both the portfolio and property levels
- Responsible for analyzing and measuring property financial and operating metrics and providing recommendations to the Director, Asset Manager to improve performance.
- Work with internal teams to ensure automation of key reporting with an eye towards removing manual processes.
- Work closely with affiliated management company as well as Third Party Managers to devise and carry-out property strategies and business plans for each property.
- Assist in the design of ownership dashboard to aggregate high-level reporting across the enterprise.
- Assist with preparation of information for real estate tax appeals.
- Assist with preparation of transactional due diligence materials.
- Assist with making recommendations for refinancing, disposition, or other capital events to achieve determined financial milestones or outcomes.
- Assist in the monitoring of the physical condition of the portfolio through periodic site visits.
- Work with other internal departments regarding HUD, LIHTC and RAD programs.
- Read and interpret agreements, loan documents and other compliance related documents.
- Understand and analyze investment models and forecasts.
- Cash flow forecasting.
- Special Projects as required.
- Performs other related duties as required.
To perform the job successfully, the following skills and/or experience is required to qualify for the position.
- Bachelor’s degree in Business, Accounting, Finance, Planning, Real Estate, or any other fields.
- Two (2) years progressive experience in Affordable Housing real estate asset management, property management, or housing development.
- Experience with LIHTC.
- Project Based Section 8 experience is mandatory
- Prior accounting, budgeting, and financial analysis experience.
- Strong organizational skills with effective decision-making abilities.
- Excellent time management and multi-tasking skills; adaptable, flexible to changing work projects.
- Knowledge and experience with the Low-Income Housing Tax Credit Program gained from asset management, operations or development.
- Knowledge and experience other affordable housing programs centered on HUD, public housing and other programs which support affordable housing.
- Yardi and/or Deal Path experience a plus.
- Able to effectively present and information and respond to questions from management, vendors, and associates.
- Adhere to tight deadlines and quick turnaround for deliverables.
- Ability to work collaboratively in a dynamic environment where adaptability is imperative.
- Accurate with a strong attention to detail.
- Proficient in Microsoft Office Suite.
Fairstead is a vertically integrated real estate company specializing in affordable and mixed-income housing. Since 2014, Fairstead has acquired and/or developed more than $7.8 Billion of multifamily property across the country, and today owns a portfolio of 24,000 apartments in 28 states. The company’s comprehensive platform provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design and construction, energy and sustainability, property management and social services.
Fairstead’s primary mission is to provide high quality housing to all regardless of income, and to make our stakeholders feel “Right at Home.” We accomplish this through an empathetic and innovative approach, and by utilizing our interdisciplinary platform as an investor, developer, owner, and operator. Fairstead provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design, construction, energy, sustainability, property management and social services. With a long-term commitment to its residents, communities, and partners, the Fairstead team stands out by:
- Listening to and understanding the needs of its residents, communities, partners, and stakeholders alike
- Developing and preserving high quality affordable housing in an innovative and sustainable fashion
- Creating a positive social and environmental impact within the properties and communities it serves
Fairstead’s Core Values