Multifamily Asset Manager

Overview

JOB SUMMARY:

The Multifamily Asset Manager will work closely with the Vice President of Asset Management and CFO to provide operational oversight and ensure the success of business plans across a portfolio of 7 to 10 Class B & C multifamily properties. This role focuses on operational leadership, including leasing performance, tenant relations, rent collections, and executing value-add renovation strategies. The Asset Manager will collaborate with property management teams, construction teams, and senior leadership to drive NOI improvement and tenant satisfaction.

Candidates should have 3-5 years of experience in multifamily operations, particularly with Class B & C assets. This role requires hands-on operational management to enhance property performance and value.

• RESPECT:
  Treat people with courtesy and kindness, valuing inclusion and diversity.
• ACCOUNTABILITY:
  Honor commitments, focus on delivering solutions, and take ownership of responsibilities.
• INTEGRITY:
  Act with honesty, honor, and transparency in all activities.
• SERVICE:
  Be socially conscious, proactive thinkers, committed to improving well-being.
• EXCELLENCE:
  Strive for excellence, adapt, innovate, and exceed expectations.

• Asset Portfolio Management
  :
  Conduct weekly asset performance calls with the operations team to analyze leasing, renewals, delinquency, expense management, rents, and capital projects; provide guidance to operations and to the Vice President of Asset Management on addressing areas of concern and maximizing NOI.
• Conduct monthly financial reviews (P&L, Balance Sheets, Aged Receivables, Accounts Payable) and deliver guidance to accounting and operations to improve reporting accuracy and timing.
• Conduct weekly site visits with detailed operational reviews and provide feedback on strategies to improve areas of concern and maximize NOI; include physical inspections and in-person discussions with property managers.
• Collaborate with construction and operations teams to monitor capital project progress and ensure rent premiums are entered into management software.
• Identify and implement programs to reduce expenses and/or maximize income for individual properties or the portfolio.
• Work with operations to create and deliver annual operating budgets.
• Coordinate with insurance brokers to analyze property insurance products, deliver renewal documents to servicers/lenders, and work with adjusters/carriers on claims documentation.
• Collaborate with 3rd party consultants to file property tax appeals, monitor county appraisal district changes, and work with servicers/lenders to ensure timely tax payments.

• Financial Analysis And Reporting
  :
  Analyze weekly activity models and update the VP of Asset Management on property trends and actions to address concerns.
• Analyze the monthly Executive Summary Dashboard and advise operations on areas for improvement and strategies to implement.
• Complete monthly investor reporting packages with insights into asset performance.
• Analyze the monthly Hold-Period Analysis to track performance against underwriting and budgets; identify opportunities to manage expenses and maximize NOI.
• Update the monthly cash position model with finalized financials, operating cash, escrow balances, RE taxes, property insurance, and projected cash flows; notify the VP of Asset Management and CFO of any issues.
• Analyze the KPI model to identify concerns and guide operations on other income, RUBs, leasing/marketing optimization, and expense management.
• Regularly complete market surveys to understand competitor activity and provide guidance to remain competitive.

• Tenant Relations
  :
  Monitor tenant review websites to understand tenant challenges and help operations improve experiences.
• Oversee tenant relations, address concerns, and ensure a positive living experience for residents.
• Collaborate with the property management team to implement tenant retention programs and address lease compliance issues.

• Risk Management
  :
  Ensure compliance with loan, JV, and vendor agreements; ensure compliance with local, state, and federal requirements related to asset management activities.
• Oversee the property insurance claim…