Asset Manager

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This role requires a professional who is equally capable of conducting financial analysis and managing property-level operations. The ideal candidate will have the ability to identify physical deficiencies during site visits, communicate effectively with both building inspectors and institutional investors, and make informed decisions regarding unit pricing and capital expenditures. The portfolio includes a few smaller buildings in addition to buildings with on-site Resident Managers as well as properties staffed with full time employees including door staff, valet, and maintenance personnel.

The Asset Manager will be responsible for ensuring operational compliance, maximizing value, and aligning property-level performance with ownership objectives. Additionally this employee will oversee a small team of Property Mangers who are responsible for overseeing their own portfolio of properties.

Job Description

Basic Function:
Responsible for the full operational and financial oversight of a multifamily real estate portfolio, including budgeting, financial performance analysis, regulatory compliance, physical condition assessment, and ownership reporting.

Key Responsibilities

Financial Management and Investor Communication

• Manage portfolio performance to budget and monitor profit and loss (P&L) statements across the portfolio.

• Analyze gross potential rent (GPR), loss-to-lease, operating costs, capital expenditure ROI, and other key financial metrics.

• Prepare and deliver regular reports to institutional ownership detailing financial results, operational updates, and performance forecasts.

• Respond to investor inquiries with timely, accurate information and support ongoing financial modeling and strategic planning.

Operational Oversight

• Conduct regular property inspections to assess building condition, identify operational deficiencies, and confirm adherence to maintenance standards.

• Evaluate unit conditions on-site and determine appropriate rental pricing based on market data and physical attributes.

• Supervise on-site Resident Managers and unionized staff to ensure compliance with building operations protocols and labor agreements.

• Maintain strong working relationships with contractors, vendors, and service providers to ensure consistent service quality and cost efficiency.

• Interface directly with city agencies and building inspectors to address regulatory issues and ensure timely resolution of Notices of Violation.

Due Diligence and Capital Planning

• Lead all aspects of property-level due diligence for new acquisitions, including:

• Unit walks and condition documentation

• Lease audits and rent roll verification

• Budget preparation and underwriting support

• Market rent analysis and occupancy evaluations

• Oversee capital improvement projects from inception through completion; develop and track budgets, timelines, and ROI expectations.

• Conduct post-project reviews to compare actual results to initial projections.

Compliance and Regulatory Management

• Ensure adherence to San Francisco Rent Control ordinances, eviction protections, and applicable tenant regulations.

• Monitor and address all housing code violations, rent board proceedings, and other legal or compliance-related matters.

• Maintain organized documentation related to regulatory correspondence, tenant compliance, and ownership reporting.

Market Monitoring and Strategy

• Stay current on San Francisco multifamily market conditions, including comparable rents, vacancy rates, and policy changes.

• Recommend operational, leasing, or capital strategies based on market analysis and building performance.

• Contribute to long-term asset planning by identifying opportunities to enhance revenue, reduce expenses, or mitigate risk.

Qualifications

• Minimum of 5 years of experience in asset management, acquisitions, or property operations, preferably in multifamily real estate.

• Strong financial skills, including budgeting, forecasting, ROI calculation, and understanding of CAP rate valuations and investment metrics.

• Ability to assess building and unit conditions independently and make informed decisions…