Job Description

Role: Asset Manager

Salary: $100k-$125k

Location: Los Angeles (on-site)

Who are We:

We are a nonprofit agency headquartered in Downtown Los Angeles providing services to individuals experiencing homelessness. We are seeking an experienced Asset Manager to ensure that our properties are financially sound and comply with contractual, regulatory, and statutory requirements. 

This position will manage the third-party Property Management Agent and will also collaborate with all internal departments including Executive, Real Estate Development, Accounting, and Resident Services in protecting its assets and optimize property performance. Furthermore, the Asset Manager will stay abreast of industry trends and financial opportunities to position the company to be a sustainable organization and a leader in the field of Permanent Supportive Housing.

What you'll be Doing:

• Oversee and manage third-party management agent to ensure high-quality and on-budget operations
• Utilize accounting systems to enhance our real-time reporting and analytical capabilities
• Development reports and/or a dashboard to analyze the performance of our portfolio
• Manage all regulatory and compliance submissions, and monitor and validate compliance with lender, investor, and government funders
• Contribute to the resolution of operation issues or concerns, including the submittal of replacement and operating reserves for approvals and follow-thru for transfer of funds
• Facilitate responses to government and/or lending agencies
• Complete and monitor annual Welfare Tax Exemption preparation, filing, and follow-through (billings)
• Create and implement plans for Limited Partners to exit properties financed with Low-Income Housing Tax Credits (LIHTC)

What you'll Need:

• Relevant experience in multi-family property management for a general or limited partner
• Specific knowledge of affordable programs, such as IRS Section 42 (LIHTC), HUD, LAHD, LACDA, HCD, HACLA, FHLB, and CDLAC
• Previous experience must include responsibilities for understanding property budgets, variance analysis, capital improvement plans, investor and lender reporting requirements
• Detailed knowledge of and ability to interpret legal documents such as loan documents, limited partnership agreements, regulatory agreements and agreements for the provision of residents
• Experience with accounting software preferred
• Familiarity with non-profit multi-funded organization desirable

Benefits

• Medical, dental, vision
• Flexible schedule
• PTO
• Parental leave
• Retirement plan
• Flexible spending account

Applicants must be authorized to work in the U.S.

Preferred Skills

Compliance

Asset Management

Property Management

Real Estate Development

Budgeting

Affordable Housing Programs

Tax Credits

LIHTC

HUD

LACDA

Job Tags

Permanent employment, Full time, Flexible hours,

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