Eden Housing

  • Senior Asset Manager

    Job Code
    # of Openings
    Eden Housing Properties
    Central Office - Hayward
  • Summary


    The Senior Asset Manager responsible for monitoring the operational and financial performance of Eden’s portfolio, benchmarking, investor and lender relationships and acquisition, refinancing and rehabilitation necessary to preserve Eden’s portfolio. The Senior Asset Manager works closely with the Director of Asset Management to identify and implement long term strategies to improve property performance to meet organizational objectives.


    The Senior Asset Manager will routinely project manage with cross-functional teams focused on the financial health of Eden’s portfolio while working closely with various departments including, but not limited to, Property Management, Facilities, Accounting, Compliance, and Development. This position will routinely interact with outside vendors, Regulatory Agency personnel, lenders, and investors. This position reports directly to the Director of Asset Management. 

    Essential Duties & Responsibilities



    Budgeting and Financial Oversight


    • Monitor and report on operational and financial performance of the portfolio of properties relative to budgets and development portfolios, investor and lender expectations.
    • Work with property management to insure that annual budgets support property, portfolio and organizational objectives by maximizing revenue and controlling expenses to maintain operating margins, adequate reserves and to cover debt service.
    • Analyze monthly financial statements. Identify trends and recommend action where appropriate.
    • Lead the effort to reposition assets including limited partner buy outs, debt restructuring, renovation planning, refinancing and coordination with Development department on resyndications.
    • Work closely with Property and Corporate Accounting to manage and verify annual cash flow payments and distributions.
    • Lead oversight and problem solving for ‘Watchlist’ of troubled properties.
    • Oversee third party property management relationships and monitor the performance of the properties they manage. Review budgets, financials and audits.
    • Manage LIHTC capital accounts through annual analysis and exit tax projections.
    • Oversee exit strategies and negotiations for LIHTC properties.




    • Work closely with Acquisitions Team including Development Department and Property Management on new property acquisitions to ensure adequate budgeting and financial planning.
    • Assist with closing the financing for acquisitions and initial transition into operations – with particular focus on managing the relationship with the equity investor and ensuring that the business plan is implemented as planned.
    • Maintain relationships with equity investors through investment period.
    • Analyze performance of all acquisition properties. Draft and maintain reports to share key metrics with the board.


    Property Performance and Condition


    • Work closely with Property Supervisors and CFO to evaluate financial performance against benchmarks established by investors, lenders, and the building’s operating pro forma.
    • Work closely with Facilities Manager to procure Capital Needs Assessments and to oversee implementation of CNAs.
    • Recommend financial restructuring as appropriate, including new re-syndication opportunities, refinancing old debt, partnership buyouts and rehabilitation projects.
    • Explore options for reducing costs and increasing energy efficiencies for housing projects.
    • Prepare financial evaluation and recommendations for any portfolio-wide initiatives including development proforma budgets, benchmarking and utility analysis.
    • Oversee the Sustainability and Energy Asset Manager and company-wide sustainability efforts.
    • Work closely with Property Supervisors to monitor commercial properties’ performance and compliance with lease requirements.
    • Oversee implementation and maintenance of the asset management database Integratec. Design and roll out reports for company-wide use.



    Compliance and Reporting


    • Develop and maintain compliance and reporting system and listing for the portfolio, including monthly and quarterly financial reports, annual audits, annual budgets.
    • Ensure compliance with partnership agreements, financing documents, regulatory agreements and other sources of financial, statutory and regulatory reporting requirements in regards to timely reporting, reserves funding, surplus cash distributions and other requirements as needed.
    • Oversee responses to various requests for information from Regulatory Agencies, lenders and investment partners.
    • Oversee annual preparation and submission of renewal of property tax exemptions for all properties.
    • Oversee initial filings for welfare exemption from property taxes.
    • Oversee annual preparation and submission of Annual Owner Certification (AOC), bond certifications, and other regulatory agencies’ annual reporting.



    Directly supervises the Asset Managers, Sustainability and Energy Asset Manager, Special Projects Analysts, and others as assigned. The position carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.




    Bachelor’s Degree or equivalent plus demonstrated knowledge and experience in Asset Management. Experience with Low Income Housing Tax Credits (LIHTC), Tax-Exempt Bonds, Department of Housing and Community Development (HCD), California Housing Finance Agency (CalHFA), Department of Housing and Urban Development (HUD) preferred.




    • Proven ability to direct departmental activities; lead by example; formulate and execute company-wide goals and objectives and assess achievement.
    • Strong supervisory, personnel management, organizational, analytical and problem solving skills.
    • Working knowledge of affordable housing programs, including but not limited to HUD programs, LIHTC, Tax-Exempt Bonds, HCD Programs, CalHFA, and locally administered programs including HOME and CDBG.
    • Experience in developing asset management business plans.
    • Ability to project manage building capital planning and implementation of renovation plans.
    • Knowledge of regulatory agreements and ability to interpret same.
    • Knowledge of landlord-tenant and fair housing laws and procedures.
    • Knowledge of basic employment laws as they relate to equal opportunity, hiring, training, promotion, evaluation and termination.
    • Ability to delegate and communicate property management policies and procedures.
    • Computer literate. Proficient in Word and Excel.  Experience with property management software (preferably Yardi) and Asset Management software (preferably Investment Central).
    • Excellent written and oral communication skills, problem solving, interpersonal and time management skills.
    • Ability to represent the company to public officials and community groups.
    • Ability to work under pressure and successfully meet deadlines.
    • Must be able and willing to travel to all company locations to carry out duties and responsibilities associated with the management of the portfolio.
    • Ability to handle shifting and multiple priorities in a fast paced, growth environment.
    • Commitment to the companies' goals and philosophy.
    • Proven ability to work with diverse groups in cooperative problem-solving and consensus building.



    Valid California Driver’s License and insurance required.



    The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to talk or hear.  The employee frequently is required to sit and use hands to finger, handle, or feel.  The employee is occasionally required to reach with hands and arms.  The employee must occasionally lift and/or move up to 25 pounds.  Specific vision abilities required by this job include close vision and ability to adjust focus. Physical demands include writing/typing, use of computer and paper files, answering phones, attending meetings.



    The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The noise level in the work environment is usually moderate.



    To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.



    This is not necessarily an exhaustive list of all responsibilities, skills, duties, requirements, efforts or working conditions associated with this job.  While this job description is intended to be an accurate reflection of the current job management reserves the right to revise the job or to require that other or different tasks are performed when circumstances change.  This job description replaces all previous descriptions for this position.


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