San Francisco Office, 1390 Market Street, San Francisco, CA 94102, USA
Abode , one of the largest and effective nonprofits working to end homelessness in the Bay Area, is seeking a
Senior Asset Manager
for our programs in Alameda County.
About The Role:
The
Senior Asset Manager
is responsible for the development and implementation of strategies to preserve and enhance the value and condition of affordable real estate rental housing properties, and to ensure local, state, and federal agency regulations and asset performance goals are met or exceeded. The successful candidate will communicate proactively with internal partners, including executive leadership, internal team leaders, property managers, accounting, resident services, and development team members. The role requires a background in affordable housing property management, certifications, or equivalent experience to recommend strategies to preserve and manage affordable rental housing properties. Responsibilities include coordinating with internal partners on budgeting & financial reporting; operations oversight; acquisitions & new construction support; capital improvements & reserve draw administration; relationship management; year 15 buyout planning; and operating policies, procedures, and staff training.
As part of the Asset Management team, the Senior Asset Manager will be a leader committed to excellence and growth, supporting Abode’s mission to end homelessness.
The People and Culture : You will be surrounded by talented, supportive, smart, and kind leaders and teams. Abode Services recognizes employees’ efforts, seeks input, and cares for employees as people with lives outside of work. We believe that better decisions and services result when our workforce reflects the diversity of the communities we serve. People of color constitute nearly 70% of our workforce, and we strive to recruit and retain employees from all backgrounds.
Our Benefits and Perks
$105,000–$123,000 annually (hybrid role)
100% paid health, vision, and dental options
19 PTO days & 12 holidays per year
Voluntary benefits: FSA, EAP, commuter checks, life insurance, legal, and more
3% retirement match/contribution
Professional development trainings and opportunities, Leadership Academy programs, and all staff events
Dynamic, mission‑driven culture and supportive leadership
How You Make an Impact 1. Business Planning & Financial Reporting (~25%)
Develop an Asset Management Business Plan and review changes periodically. Set up asset management systems, compliance charts, document binders, and financial oversight systems for portfolio oversight.
Budgeting: Benchmark property operating including net operating income, gross revenue, operating expenses, investment projections, return on investment, cash flow, and distribution analysis.
Forecasting & Benchmarking: Evaluate market trends, forecast cash flow, and benchmark these trends against the portfolio.
Variance Analysis: Oversee collaborative efforts with Accounting and Property Management to analyze variances in operating performance against industry benchmarks. Develop and present solutions to structural deficits and disposition of annual surplus/deficits.
Reporting: Review and oversee periodic investor reporting, distributions, and monitoring of cash and reserve utilization.
Document Management: Organize and file ownership, loan, and regulatory agreement amendments and periodic reporting sent to investors and other agencies in a timely manner.
2. Operations Oversight (~10%)
Program Compliance: Ensure continuing compliance with LIHTC and other regulatory guidelines. Resolve deficiencies directly with appropriate parties.
Portfolio Performance: Review internal and external Property Management performance, assign risk ratings, and prepare watch‑list report narratives. Identify and analyze under‑performing assets and prepare proactive operational work‑out strategies in collaboration with Property Management.
Site Inspections: Complete property physical inspections to monitor physical condition, management execution, property capital needs, and physical risk management.
3. Acquisitions, New Construction, Financing & Design Review Support (~25%)
Acquisitions: Review the budget and proposed impacts to the staffing plan and operating expenses for property acquisitions.
New Construction: Communicate and follow up on expectations with cross‑functional teams, including evaluation of properties for development, Property Management, lease‑up, construction management, risk management, welfare exemption filings, and accounting in the creation of an Asset Management Business Plan.
Financing: Lead loan restructuring requests with support from Development and Accounting Teams.
Design Review: Participate in design development plans with Development, Property Management, and Resident Services.
4. Capital Improvements & Reserve Draws Administration (~5%)
Capital Improvements: Establish long‑term capital needs plans and preventative maintenance plans with Property Management teams.
Reserve Draws Administration: Coordinate with Regional Facilities Manager, Property and Asset Supervisor, and Accounting teams on pre‑approvals for budgeted long‑term capital plan improvements.
5. Relationship Management (~10%)
External Partner Engagement: Build relationships with local partners including City and County staff, lenders, investors, and the general public professionally.
Internal Partner Engagement: Develop positive working relationships with internal partners from other teams through collaboration, proactive communication, and empathy.
6. Year 15 Buyout Planning (~10%)
Low‑Income Housing Tax Credits: Deliver low‑income housing tax credits to limited‑partner investors, repay any deferred developer fees, and plan for the exit of investor limited partners for LIHTC assets at Year 15.
Tax Capital Accounts: Monitor changes in general partner and investor limited partner tax capital accounts for potential exit taxes and cash distribution at dissolution of the limited partnership.
Purchase Option/ROFR: Review legal agreements to understand rights in consultation with third‑party consultants or legal counsel to purchase limited partner interests or property within the purchase option or right of first refusal period.
7. Insurance Management and Procurement (~5%)
Claims Management: Coordinate oversight and tracking of new and open insurance claims, lawsuits, and track outcomes for investor, lender and executive leadership review.
Procurement: Partner with Finance and Accounting teams to share changes in the affordable rental housing real estate portfolio (REO Schedule) to maximize insurance value for Abode.
Warranties: Monitor warranties and track construction defects prior to their expiration with Property and Facility Managers.
8. Welfare Tax Exemption (~5%)
Initial and Annual Welfare Tax Exemption: Ensure application submission with local County assessors to initiate and maintain welfare tax exemptions on qualified portfolio assets and their respective ownership entities.
BOE OCC & SCC Applications: Complete and file OCC/SCC applications for existing properties with the CA BOE.
9. Operating Policies, Procedures, and Staff Training (~5%)
Operating Policies and Procedures: Propose new operating policies and procedures to Directors and Executives.
Staff Supervision & Training: Oversee, supervise, and ensure training of assistant and associate asset managers. Attend training and education classes to maintain current knowledge on Asset Management best practices through industry training sessions and annual conferences, as needed.
Other duties as assigned.
How You Meet Qualifications
Minimum of five (5) years of professional experience in multi‑family compliance and/or multi‑family real estate asset management, property management, finance, or related field; OR, three to five years of experience working with a developer specializing in tax‑credit properties.
Undergraduate degree or equivalent industry certifications.
Must possess a valid California Driver’s License and insurance coverage.
Ability to utilize spreadsheet tools and word processing for analyzing and communicating information.
Supervisory experience with strong skills in program development and policy and procedures.
Strong organizational, detail‑oriented, and time‑management skills.
Proven ability to work independently, effectively as an individual and part of a team.
Ability to meet the geographic range of the position. Position requires frequent travel throughout Napa, San Francisco, and Sonoma. Geographic regions may change but will be in the SF Bay Area.
Strong ability to represent the interests of the agency, interact effectively with a diverse population, and be comfortable building successful collaborative relationships with tenants, staff, and community and resource building partners.
Strong understanding and belief in Housing First philosophies.
Abode Services reserves the right to change, add, delete, upgrade, or downgrade the position as dictated by business necessity at any time with or without notice.
Abode Housing Development is an Equal Opportunity Employer/Drug‑Free Workplace.
Abode Housing Development values safety, wellness, and respect for each other and for those we serve. Because of this commitment Abode Services is mandating that all employees be vaccinated effective September 30, 2021.
Equal Opportunity Employer This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
#J-18808-Ljbffr
Abode , one of the largest and effective nonprofits working to end homelessness in the Bay Area, is seeking a
Senior Asset Manager
for our programs in Alameda County.
About The Role:
The
Senior Asset Manager
is responsible for the development and implementation of strategies to preserve and enhance the value and condition of affordable real estate rental housing properties, and to ensure local, state, and federal agency regulations and asset performance goals are met or exceeded. The successful candidate will communicate proactively with internal partners, including executive leadership, internal team leaders, property managers, accounting, resident services, and development team members. The role requires a background in affordable housing property management, certifications, or equivalent experience to recommend strategies to preserve and manage affordable rental housing properties. Responsibilities include coordinating with internal partners on budgeting & financial reporting; operations oversight; acquisitions & new construction support; capital improvements & reserve draw administration; relationship management; year 15 buyout planning; and operating policies, procedures, and staff training.
As part of the Asset Management team, the Senior Asset Manager will be a leader committed to excellence and growth, supporting Abode’s mission to end homelessness.
The People and Culture : You will be surrounded by talented, supportive, smart, and kind leaders and teams. Abode Services recognizes employees’ efforts, seeks input, and cares for employees as people with lives outside of work. We believe that better decisions and services result when our workforce reflects the diversity of the communities we serve. People of color constitute nearly 70% of our workforce, and we strive to recruit and retain employees from all backgrounds.
Our Benefits and Perks
$105,000–$123,000 annually (hybrid role)
100% paid health, vision, and dental options
19 PTO days & 12 holidays per year
Voluntary benefits: FSA, EAP, commuter checks, life insurance, legal, and more
3% retirement match/contribution
Professional development trainings and opportunities, Leadership Academy programs, and all staff events
Dynamic, mission‑driven culture and supportive leadership
How You Make an Impact 1. Business Planning & Financial Reporting (~25%)
Develop an Asset Management Business Plan and review changes periodically. Set up asset management systems, compliance charts, document binders, and financial oversight systems for portfolio oversight.
Budgeting: Benchmark property operating including net operating income, gross revenue, operating expenses, investment projections, return on investment, cash flow, and distribution analysis.
Forecasting & Benchmarking: Evaluate market trends, forecast cash flow, and benchmark these trends against the portfolio.
Variance Analysis: Oversee collaborative efforts with Accounting and Property Management to analyze variances in operating performance against industry benchmarks. Develop and present solutions to structural deficits and disposition of annual surplus/deficits.
Reporting: Review and oversee periodic investor reporting, distributions, and monitoring of cash and reserve utilization.
Document Management: Organize and file ownership, loan, and regulatory agreement amendments and periodic reporting sent to investors and other agencies in a timely manner.
2. Operations Oversight (~10%)
Program Compliance: Ensure continuing compliance with LIHTC and other regulatory guidelines. Resolve deficiencies directly with appropriate parties.
Portfolio Performance: Review internal and external Property Management performance, assign risk ratings, and prepare watch‑list report narratives. Identify and analyze under‑performing assets and prepare proactive operational work‑out strategies in collaboration with Property Management.
Site Inspections: Complete property physical inspections to monitor physical condition, management execution, property capital needs, and physical risk management.
3. Acquisitions, New Construction, Financing & Design Review Support (~25%)
Acquisitions: Review the budget and proposed impacts to the staffing plan and operating expenses for property acquisitions.
New Construction: Communicate and follow up on expectations with cross‑functional teams, including evaluation of properties for development, Property Management, lease‑up, construction management, risk management, welfare exemption filings, and accounting in the creation of an Asset Management Business Plan.
Financing: Lead loan restructuring requests with support from Development and Accounting Teams.
Design Review: Participate in design development plans with Development, Property Management, and Resident Services.
4. Capital Improvements & Reserve Draws Administration (~5%)
Capital Improvements: Establish long‑term capital needs plans and preventative maintenance plans with Property Management teams.
Reserve Draws Administration: Coordinate with Regional Facilities Manager, Property and Asset Supervisor, and Accounting teams on pre‑approvals for budgeted long‑term capital plan improvements.
5. Relationship Management (~10%)
External Partner Engagement: Build relationships with local partners including City and County staff, lenders, investors, and the general public professionally.
Internal Partner Engagement: Develop positive working relationships with internal partners from other teams through collaboration, proactive communication, and empathy.
6. Year 15 Buyout Planning (~10%)
Low‑Income Housing Tax Credits: Deliver low‑income housing tax credits to limited‑partner investors, repay any deferred developer fees, and plan for the exit of investor limited partners for LIHTC assets at Year 15.
Tax Capital Accounts: Monitor changes in general partner and investor limited partner tax capital accounts for potential exit taxes and cash distribution at dissolution of the limited partnership.
Purchase Option/ROFR: Review legal agreements to understand rights in consultation with third‑party consultants or legal counsel to purchase limited partner interests or property within the purchase option or right of first refusal period.
7. Insurance Management and Procurement (~5%)
Claims Management: Coordinate oversight and tracking of new and open insurance claims, lawsuits, and track outcomes for investor, lender and executive leadership review.
Procurement: Partner with Finance and Accounting teams to share changes in the affordable rental housing real estate portfolio (REO Schedule) to maximize insurance value for Abode.
Warranties: Monitor warranties and track construction defects prior to their expiration with Property and Facility Managers.
8. Welfare Tax Exemption (~5%)
Initial and Annual Welfare Tax Exemption: Ensure application submission with local County assessors to initiate and maintain welfare tax exemptions on qualified portfolio assets and their respective ownership entities.
BOE OCC & SCC Applications: Complete and file OCC/SCC applications for existing properties with the CA BOE.
9. Operating Policies, Procedures, and Staff Training (~5%)
Operating Policies and Procedures: Propose new operating policies and procedures to Directors and Executives.
Staff Supervision & Training: Oversee, supervise, and ensure training of assistant and associate asset managers. Attend training and education classes to maintain current knowledge on Asset Management best practices through industry training sessions and annual conferences, as needed.
Other duties as assigned.
How You Meet Qualifications
Minimum of five (5) years of professional experience in multi‑family compliance and/or multi‑family real estate asset management, property management, finance, or related field; OR, three to five years of experience working with a developer specializing in tax‑credit properties.
Undergraduate degree or equivalent industry certifications.
Must possess a valid California Driver’s License and insurance coverage.
Ability to utilize spreadsheet tools and word processing for analyzing and communicating information.
Supervisory experience with strong skills in program development and policy and procedures.
Strong organizational, detail‑oriented, and time‑management skills.
Proven ability to work independently, effectively as an individual and part of a team.
Ability to meet the geographic range of the position. Position requires frequent travel throughout Napa, San Francisco, and Sonoma. Geographic regions may change but will be in the SF Bay Area.
Strong ability to represent the interests of the agency, interact effectively with a diverse population, and be comfortable building successful collaborative relationships with tenants, staff, and community and resource building partners.
Strong understanding and belief in Housing First philosophies.
Abode Services reserves the right to change, add, delete, upgrade, or downgrade the position as dictated by business necessity at any time with or without notice.
Abode Housing Development is an Equal Opportunity Employer/Drug‑Free Workplace.
Abode Housing Development values safety, wellness, and respect for each other and for those we serve. Because of this commitment Abode Services is mandating that all employees be vaccinated effective September 30, 2021.
Equal Opportunity Employer This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
#J-18808-Ljbffr