Multi-Family Asset Manager
Multi-Family Asset Manager
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Job Description
Position Description
About Harris County Housing & Community Development:
Harris County Housing & Community Development provides life-enhancing projects and programs to residents of Harris County.
Our services include spurring community investment through the provision of homebuying programs partnering with community members and housing developers to build diverse housing options that uplift communities and offer other assistance that support community building.
Multi-Family Asset Manager Overview:
The Harris County Housing Finance Corporation (established 1980) and its subsidiary Harris County Community Land Trust Management Corporation (established 2020) currently have an estimated 8000 affordable multi-family units in its long-term portfolio and current private activity bond financing pipeline resulting from long-term 99-year ground-leases and ownership involving General Partnerships.
This newly-created Asset Management position will be responsible for leading long-term compliance monthly asset performance including tracking project fees and the receipt of the same with accounting staff and overall monitoring the actions of the general partners of assigned projects to ensure they fulfill the obligations under the partnership agreement. The position is supported by a strong multi-disciplinary team of professionals assigned to the HCHFC. The affordable rental housing portfolio includes a high percentage of projects with 4% low-income housing tax credits (LIHTC) and private activity bonds 9% LIHTC projects (all under Texas Department of Housing & Community Affairs (TDHCA) compliance and regulatory agreements) and workforce non-tax credit projects.
Responsibilities include measuring project performance risk management preparing monthly board reports conducting site visits monitoring to ensure compliance within LIHTC guidelines and year 15 re-syndications capital structuring events.
Duties and Responsibilities:
The Multi-Family Asset Manager will be responsible for conducting asset management activities including providing analysis monitoring compliance review reporting and detailed recommendations regarding assigned projects. The Multi-Family Asset Manager will have involvement across the entire project investment period.
Track and report on projects under construction/substantial rehabilitation and/or lease-up comparing actual progress to projections.
Conduct desk reviews annual site visits to evaluate property management property marketability management plan and physical condition of properties. Review monthly financials and rent/occupancy performance review quarterly reporting annual review of tenant files and evaluate compliance with agreements and TDHCA tax credit project compliance when applicable.
Review and approve annual operating budgets.
Analyze monthly/quarterly financials and year-end audited financials against pro-forma budget closing model projections and comparable projects and research reason(s) for variances.
Monitor reserve levels review requests for replacement and operating reserves and recommend approvals.
Receive all consent requests from general partners including refinances addition of debt change in management company perm loan conversions etc. Advise and consult with executive leadership on recommendations.
Maintain accurate project documentation by entering and updating data in organizations database.
Interact with individuals from state finance agencies accounting firms construction companies lenders and development companies as warranted to ensure property performance is known and understood and general partner is meeting its obligations under the partnership agreement.
Work with management/owners to resolve compliance issues promptly reporting on non- compliance identifying related risks and recommending action plans to resolve.
Other duties as assigned
This Job Description is not designed to cover or contain a comprehensive listing of activities duties or responsibilities that are required of the employee for this position.
Management may at its discretion assign or reassign duties and responsibilities to this job at any time.
Harris County is an Equal Opportunity EmployerRequirements
Education:
Bachelors degree in Business Accounting Finance Real Estate or related area
Experience:
Four (4) to five (5) years of experience in affordable housing industry involving multi-family housing property management and/or asset management compliance and financial performance specifically involving LIHTC projects and other local regulatory agreement compliance and reporting requirements involving non-tax credit projects
Proven track record of success in overseeing a portfolio of multifamily properties assuring long-term compliance with regulatory and partnership agreements assuring project operational performance remains at established optimal levels tracking occupancy and monthly performance financial performance assuring reports are prepared and projects monitored and assuring all conformance with THDCA and LIHTC requirements occurs managing risks through strategic planning financial analysis and property operations
- Experience in establishing and maintaining effective working relationships with professionals such as: general partners property managers investors bankers/lenders and governmental officials
Previous experience in real estate development/management construction accounting and/or financial analysis
Knowledge Skills and Abilities:
Demonstrated completion of LIHTC training and other asset management oversight training
Demonstrated ability to communicate complex information to various audiences verbally and in writing
Proficiency in Microsoft Office Suite (Word and Excel) and related real estate management databases
Licensure:
Valid Drivers License (Texas upon hire)
NOTE:Qualifying education experience knowledge and skills must be documented on your job application. You may attach a resume to the application as supporting documentationbutONLY information stated on the application will be used for consideration. See Resumewill not be accepted for qualifications.
General Information
Position Type and Typical Hours of Work:
Full-time Grant-funded
Monday - Friday 8:00AM - 5:00PM; weekends and evenings when required
Flexible/hybrid work schedule is available
Work Environment:
The job is performed in a professional office environment
This role routinely uses standard office equipment such as computers phones photocopiers filing cabinets and fax machines
Physical Demands:
Sedentary work - Exerting up to 20 pounds of force occasionally and/or a negligible amount of force frequently or constantly to lift carry push pull or otherwise move objects including the human body.
Sedentary work involves sitting most of the time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met
Employment may be contingent on passing a drug screen and meeting other standards.
Due to a high volume of applications positions may close prior to the advertised closing date or at the discretion of the Hiring Department.
Required Experience:
Manager
Employment Type
Full-Time
