Abode, one of the largest and effective nonprofits working to end homelessness in the Bay Area, is seeking an Asset Manager for our programs in Alameda County.

About The Role: The 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, as well as ensure that local, State, and Federal agency regulations and asset performance goals are met or exceeded. This person must have proactive communication skills with Internal Partners, including but not limited to, executive leadership, internal team leaders, property managers, accounting, resident services, and development team members. This person must possess a background in affordable housing property management, certifications, or equivalent experience to recommend strategies to preserve and manage affordable rental housing properties. This person must coordinate with Internal Partners on Asset Management, Regulatory Compliance, Financial Reporting and Operations Oversight.

As part of the Asset Management team, the person in this position must be a leader committed to excellence and growth, as Abode is a dynamic agency continually changing to meet the needs of those we serve. This position will assist Abode in accomplishing our mission to end homelessness.

The People and Culture: You will be surrounded by some of the most talented, supportive, smart, and kind leaders and teams - people you can be proud to work with! Abode Services regularly recognizes employees' efforts, seeks employees' input, and cares for employees as people with lives outside of work. We believe that we make better decisions and provide quality services when our workforce reflects the diversity of the communities in which we operate. People of color make up nearly 70% of our workforce and we strive to recruit and retain employees from all backgrounds.

Our Benefits & Perks:

$92,000 - $103,000 annually
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. We support you in supporting others

How You Make An Impact:

Business Planning and Financial Reporting (25~%)

Business Planning: Developing an Asset Management Business Plan and review changes to the Business Plan periodically.
Budgeting: Benchmark property operating including net operating income, gross revenue, operating expenses, investment projections, return of investment, cash flow and distribution analysis.
Variance Analysis: Working collaboratively with the Accounting and Property Management teams to analyze variances and provide narrative reports to leadership, lenders, and investors regarding key indicators (particularly for watch-list properties).
Document Management: Organize and file ownership, loan, and regulatory agreement amendments and periodic reporting sent to investors and other reporting agencies in a timely manner.
Reporting: Complete timely and periodic reporting to Internal and External Partners with input from Property Management team and in compliance with property compliance charts.

Operations Oversight (~25%)

Portfolio Oversight: Develops property watch list, create and monitor action plans and monitors vacancies, delinquency losses, rent collections, debt service, NOI and provide monthly reporting.
Site Inspections: Complete property physical inspections as part of monitoring physical condition, management execution, property capital needs and physical risk management.
Program Compliance: Review program regulatory guidelines periodically; ensure regulatory compliance; develop and present solutions and respond to various requests for information from regulatory agencies, lenders and investment partners. This includes continually comparing actual asset performance to underwritten expectations.
Monitoring: Maintain an annual property compliance and external/internal monitoring schedule portfolio-wide.

Acquisitions, New Construction, Financing & Design Review Support (~10%)

Acquisitions: Review budget and proposed impacts to staffing plan and operating expenses for property acquisitions.
New Construction: Communicate and follow-up on expectations with other cross-functional teams that include the 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: Support in loan restructuring requests in collaboration with Development and Accounting Teams.
Design Review: Participate in design development plans with Development, Property Management, and Resident Services.

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 and Property and Asset Supervisor and Accounting teams on pre-approvals for budgeted long-term capital plan improvements.

Relationship Management (~10%)

External Partner Engagement: Build relationships with local partners including City and County staff, lenders, investors, and the general public in a professional manner.
Internal Partner Engagement: Develop positive working relationships with Internal Partners from other teams through collaboration, proactive communication, and empathy.

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 low-income housing tax credit 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, understand rights with those agreements in consultation with third-party consultants or legal counsel to purchase the limited partner interests or property from investors within the purchase option or right of first refusal (ROFR) period.

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 team 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.

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 application for existing properties with the CA BOE.

Operating Policies, Procedures, and Staff Training (~5%)

Operating Policies and Procedures: Participate in the development of new operating policies and procedures to Directors and Executives.
Staff Supervision & Training: 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 three (3) years of professional experience in multi-family compliance and/or multi-family real estate asset management, property management, finance, or related field; OR, two to four 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.
Strong organizational, detail orientated, and time management skills.
Proven ability to work independently, effectively as an individual and part of the 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 with community and resource building.

Notice: This description is to be used as a guide only. It does not constitute a contract, commitment or promise of any kind. 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.

Notice: Abode Services is an Equal Opportunity Employer/Drug Free Workplace.

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.

Abode Services

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