Reports to: CFO, CEO
POSITION SUMMARY:The Opa-Locka Community Development Corporation seeks an experienced Asset Manager under the direction of both the CFO and CEO supervising employees and consultants and in consultation with the OLCDC Leadership team and Real Estate Committee. We are seeking someone who can facilitate the development and implementation of asset management plans and strategies supported by policies, systems, and best practices consistent with our mission, to achieve optimal return on investment and effective deployment of all OLCDC properties, infrastructure, and equipment portfolio. Also responsible for maintaining and overseeing communications with third-party property management companies.
GENERAL DUTIES AND RESPONSIBILITIES:
Assist the corporation in revising and implementing an asset management plan.
Set up a database for the Corporation's rental properties gathering relevant background information on the projects in both hardcopy and electronic files.
Work in conjunction with the Director of Real Estate Development on recently acquired multifamily project renovations that may require tenants relocation or other property management assistance following all funding guidelines.
Lead implementation and oversight of asset management, routine maintenance, and long-term capital expenditure programs to protect the company’s investment and financial interests.
Provide strategic advice to the OLCDC Executive Team to support the implementation of and adherence to effective asset management principles across the organization and future acquisitions.
Develop financial models, maintain the company’s REO schedule, perform financial analyses and asset management analyses, and recommend appropriate strategies and capital requirements for all assets.
Develop recommendations related to portfolio profile, deployment, and redeployment, acquisition, disposal, or retirement of specific major assets.
Independently monitor the activities of property management firms responsible for the daily operations of the properties, and report significant information to theCFO, CEO, and the Real Estate Committee.
Conduct standing monthly management meetings with supervising property and site managers to include performance reviews that also address tenant relations.
Facilitate property managers working with OLCDC staff on providing support services to tenants both as prevention and intervention assistance.
Lead and monitor third-party property management companies in the performance of lease-ups in both existing and new residential projects.
Identify, evaluate, and recommend capital improvement and replacement projects for each property operating portfolio, including potential energy efficiency retrofits.
Manage LIHTC (low-income housing tax credits) capital accounts through annual analysis and exit tax projections; annual audit review, K-1 schedule and review all funding and loan terms for all projects and establish timelines for addressing refinancing or workout issues.
Develop performance monitoring and tracking systems to allow for internal portfolio review and reporting and to facilitate reports to OLCDC’s lenders, investment funders, and other external sources.
Establish reporting and monitoring schedule with partners' property management operations; establish a quarterly review process.
Examine property management contracts, current performance, and terms to determine the next steps.
Determine the process for bidding out or negotiating new contracts with existing firms.
Examine long term capital needs and issues for developing a capital replacement plan for all projects.
Review capital reserve accounts for all projects and identify shortfalls/surpluses.
Gathering, analyzing information, and advising the CEO on issues that affect OLCDC’s interests as a partner in a minority position that requires the involvement of top executives to resolve.
• Bachelor’s degree or higher in related field required, Business Management, Finance, Real Estate.
• 10+ years of progressive experience in real estate asset management, multi-family property management, affordable
housing development, including Low Income Housing Tax Credit management.
• Proven skills in asset management, planning, and analyses of complex legal, financial, and regulatory compliance.
• Proven ability and experience in analyzing financial statements, budgets, and financial data.
• Proven ability to oversee successful budget performance from third parties.
• Accustomed to forward-thinking and being proactive using an entrepreneurial and creative approach to problem-solving
in the field of affordable housing and asset management.
• Enthusiasm and team-building spirit, able to lead the team, and be a contributing member.
• Computer literacy in office automation and various software applications using Yardi, or other multi- family rental software,
spreadsheets, word processing, and databases; intermediate level of proficiency in Microsoft and demonstrated
experience and ability to create and manage budgets and reports with Excel; experience with other databases.
• Ability and experience with utilizing operating financial data to model performance and analyze and report
• Keen understanding of the owner's role and function to carry out a dual bottom line of social mission and financial
• Demonstrated leadership in the work environment able to work independently and as part of a team
• High standards of ethics and integrity expected to hold organizational values committed to affordable and workforce
• Compelling written, verbal, and interpersonal communication skills
• Manage time strategically improving efficiencies.
• Willingness to learn and take on new challenges.