Asset Manager

  ASSET MANAGER

The Louisville Metro Housing Authority is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

 

The Louisville Metro Housing Authority (LMHA) strives to ensure that all people who live or work in Louisville can afford a healthy, attractive home that meets their needs.  A good home provides the foundation upon which individuals and families thrive, children learn and grow, and communities prosper.

 

To achieve our mission we:

Offer competitive and innovative single family and multi-family housing programs.

Provide housing related education to consumers and others.

Finance development that builds healthy, vibrant communities.

Invest housing grants and subsidies to residents with the greatest need.

 

LMHA requires its employees to be highly motivated and knowledgeable, have a sound understanding of the changing needs of Louisville's housing market, be willing to work within and toward a smoothly integrated operation, demonstrate a commitment to serve the people of Louisville, especially those with low and moderate incomes in need of safe and affordable homes, and possess a high level of integrity and a deep respect for all persons, including customers, partners and fellow employees.

 

LMHA seeks an experienced professional skilled in asset management or regional management to oversee the operation of the agency’s third-party managed properties.

 

JOB SUMMARY 

This key property management position serves as the Asset Manager for LMHA.  This position is responsible for the oversight of the general management and upkeep of LMHA third-party managed properties, including properties developed with, or operated under, a variety of funding programs including Low-Income Housing Tax Credits (LIHTC), HOPE VI grants, Choice Neighborhoods grants, and other programs. This position will oversee all property management functions for LMHA’s mixed finance portfolio and manage the agency’s non-traditional housing portfolio.  This position reports to the Deputy Executive Director of Operations and is a member of the organizational senior leadership team.

 

JOB FUNCTIONS 

Performs asset management work of considerable difficulty.

Oversees the operation of the LMHA’s portfolio of third-party managed properties.

Participates and informs the LMHA’s repositioning and development planning process, including making recommendations related to the successful design and operation of the properties to ensure operational success.

Conducts research and prepares cost estimates for grant applications and other projects. 

Oversees file review and physical conditions compliance for the Authority’s Low Income Housing Tax Credit (LIHTC portfolio).

Ensures Public Housing document and forms compliance.

Performs other related duties as assigned.   

 

PRINCIPAL ACCOUNTABILITIES

Develop and implement sound asset management strategies designed to optimize the value and performance of real estate assets operated by LMHA through third-party management entities.

Conduct thorough assessments and analysis of assets and third-party management teams to ensure compliance with all local, state, and federal law, as well as compliance with accepted standards of property management.

Prepares HUD and LMHA required reports for assets under management, including both regularly scheduled reporting and ad-hoc reporting as required.

Performs on-site and remote audits of file management, maintenance management, and operational performance of LMHA’s portfolio of third-party managed properties.

Engages in the creation and negotiation of Regulatory and Operating Agreements, Management Agreements, and other regulatory documents involved in the governance of third-party managed properties.

Provides training as needed to third-party property management companies on LMHA and HUD expectations, protocol, and procedures.

Engages in the budget process and informs the determination of any long-range budgetary needs for the third-party managed properties.

Assists with preparing privately management Property Management Requests for Proposals (RFPs) and subsequent Management Plans and Agreements resulting from those RFP’s.

Works with staff and consultants to prepare tax returns, budget reports and other required information to tax credit investors, general and limited partners, the Kentucky Housing Corporation, Louisville Metro Government and the Department of Housing and Urban Development. 

Collects and reports vacancy data for the Authority’s privately managed portfolio.

Monitor compliance of multiple mixed finance Regulatory and Operating agreements and review of CPA prepared tax returns and annual entity reports.

QUALIFICATIONS

Bachelor’s degree in finance, Real Estate, Business Administration or a related field.

Three (3) years of asset management or regional management experience at luxury or market rate properties.

Strong financial and analytical skills, with the ability to evaluate and interpret complex property management, maintenance, and financial data.

An equivalent combination of education and experience may be substituted.

Excellent communication and interpersonal skills, with the ability to build and maintain relationships with stakeholders.

Strong organizational and multitasking abilities, with the ability to prioritize and manage multiple projects simultaneously.

Knowledge of relevant laws, regulations, and industry standards related to asset management.

Proficiency in asset management software and tools.

Professional certifications in asset management or a related field are a plus.

Knowledge of principles of planning and budgeting.

Knowledge of federal laws and regulations pertaining a variety of federal and non-federal housing programs.

Ability to acquire knowledge of agency policies and procedures.

Ability to prepare budgets.

Ability to plan and organize.

Ability to make sound decisions and recommendations.

Ability to maintain records.

Skill in oral and written communications.

EQUAL OPPORTUNITY EMPLOYER