Job Summary
Employment Type
Full Time
Years Experience
1 - 3 years
Job Description

Asset Manager - Low Income Housing Tax Credit (LIHTC) experience
Agoura, Hills, CA
 

A $2 billion developer, general contractor, and owner of diverse residential real estate projects is currently seeking a Low Income Housing Tax Credit Asset Manager in the Agoura, Hills, CA area. The ideal candidate will possess 3-5 years of experience in Low-Income Housing Tax Credit (LIHTC) asset management working for a General Partner. This position reports to the Director of Asset Management.

Responsibilities of the Asset Manager

  • Perform review of monthly property financial statements, including analysis of balance sheet, income statement, and variance report, to support portfolio performance reporting for senior management, lenders and investors.
  • Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of the partnership agreement, loan documents, LURAs, QAPs, and tax credit application.
  • Analyze property performance, valuation, market trends and operational strengths and weaknesses to inform strategies for maximizing value to the company.
  • Provide operational feedback to Construction and Development teams to inform design, leasing, financing and disposition strategies for new development projects.
  • Support due diligence efforts related to the acquisition, capitalization and disposition of assets.
  • Coordinate regular asset calls and site visits with property management teams to ensure goals and budgets are being met, and if not, determine strategies for corrective action.
  • Negotiate and monitor contracts including leases, management agreements, vendor contracts, utility contracts, etc. to protect ownership rights and ensure contract compliance.
  • Establish strategies for the resolution of insurance claims and tenant legal proceedings related to non-payment, illegal, and fraudulent activity at the property and/or tenant level.
     

Requirements of the Asset Manager

  • Bachelor’s Degree with a concentration in Real Estate, Finance, or Business
  • Advanced degree preferred but not required
  • 3-5 years of relevant experience in multi-family asset management (General Partner side)
  • Experience with Prolink or Integratech asset management software a big plus
  • Working knowledge of Section 42 (LIHTC) principles and requirements
  • Strong analytical and quantitative skills with emphasis in financial analysis
  • Understanding of real estate accounting principles and financial reporting procedures with ability to analyze variances
  • Able to read, analyze, and interpret complex business documents including leases, financial reports, contracts, loan documents and regulatory agreements
  • Proficiency with Microsoft Office suite. Strong understanding of Excel is a must
  • Some travel may be involved
  • A criminal background check and review of current driving record may be required
     

Benefits for the Asset Manager

  • Health/Dental/Chiropractic coverage available for individual after three months. Dependents can be covered at employee’s expense.
  • Three weeks Paid Time Off annually (after 30 days) for the first six years.
  • Full health coverage and benefits (after 90 days).
  • 401(k) retirement plan (after six months).
  • Life Insurance.
  • Eight paid holidays.
  • Discretionary bonus based on individual and company performance

Job ID: 252875095

Smart Choice Staffing
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