Affordable Housing Asset Manager
CHAI: Comprehensive Housing Assistance, Inc. is a nonprofit housing and community development organization serving northwest Baltimore. For almost four decades of community service, CHAI has been forging deep connections and helping residents of all ages thrive, making our neighborhoods a stronger, better place in which to live, learn, and grow older.
CHAI: Comprehensive Housing and Assistance, Inc. has an immediate opening for a full-time, experienced Affordable Housing Asset Manager. This position serves as an integral part of the Housing & Services team. They should possess a combination of analytical and administrative skills and a commitment to fiscal responsibility and collaboration. They will monitor performance measures to maximize return and ensure long term viability of CHAI’s affordable housing portfolio.
Financial Performance & Physical Condition of Housing Portfolio
- Assess monthly reports, analyze performance, track trends, and work with third-party management to initiate changes ensuring CHAI’s standards for operational/financial performance, physical condition and resident relations are being met
- Utilize asset management dashboard to compile and analyze data and to provide accurate reporting to internal and external stakeholders
- Review operating and capital budgets, tax returns, audits, and other pertinent financial documents
- Perform periodic onsite property inspections to ensure high-quality housing and long-term viability of assets
Planning & Analysis
- Create, implement and review/revise asset management plans for each property
- Monitor and manage real estate valuations and PILOT agreements, recommend properties for tax appeal filings, and ensure timely payment of taxes
- Analyze, monitor, and forecast reserve levels, capital accounts and cashflow
- Evaluate capital needs in the context of useful life, replacement costs and energy efficient upgrades and identify strategies and financing methods for meeting those needs and achieving optimal financial performance
- Review and approve operating and replacement reserve requests
- Assess refinancing opportunities and strategies for paying off expiring debt
Administration, Compliance & Risk Management
- Organize and maintain project files and deal books, both electronic and hard copy
- Manage setup and maintenance of ownership entity registrations
- Lead regularly scheduled meetings with third-party management companies
- Manage cashflow distribution and fees and incentives due to owner
- Interpret and ensure compliance with limited partnership agreements, financing and loan documents, regulatory agreements, and other sources of financial, statutory, and regulatory reporting requirements
- Drive process for expiring year-15 Low Income Housing Tax Credit (LIHTC) deals including, negotiating favorable transaction terms, securing necessary approvals for acquisition of Limited Partner's interest in the project and collaborating with CHAI’s Housing Development team on refinancing and renovations
- Work with insurance broker on policy renewals and confirm property and liability insurance coverage meets compliance requirements
- Support efforts to secure financing for new developments, acquisitions, rehabilitation projects, loan applications, requests for proposals, etc.
- Participate in housing development meetings and provide perspective on how project elections impact ongoing management and operations
Bachelor’s Degree in accounting, finance, real estate, or related field and five (5) years of experience
in affordable housing, asset management or real estate development
- Relevant work experience or an equivalent combination of education and relevant work experience may substitute for educational requirement on a year-for-year basis
Skills & Requirements
- Experience with multifamily housing finance programs and related compliance requirements, including HUD, Section 8, PRAC 202, LIHTC, HOME and other programs
- Advanced skill levels in Excel, Word, and Outlook
- Ability to:
- Read and interpret financial reports, contracts, agreements, and other complex documents
- Work independently and cooperatively; demonstrate professionalism, diplomacy, and flexibility in a variety of situations
- Effectively manage and oversee work of third-party contractors
- Prioritize, problem solve, think critically and practice good business and financial judgement
Compensation & Benefits
Salary: $90,000 - $100,000 commensurate with experience
CHAI offers a comprehensive benefits package, including health insurance, 401(k) employer match, life insurance, Long Term Disability (LTD), Flexible Spending Plan, and a complimentary membership to the Jewish Community Center. We make work/life balance a priority, offering generous vacation/sick time and paid parental leave.
Application Process – Electronic submissions are preferred.
NOTE: All active full-time, part-time, and temporary staff are required to provide proof of full vaccination (COVID-19) as a condition of employment.
This job ad is not intended to be all-inclusive, but to describe the general nature and level of work to be performed.
CHAI is proud to be an equal opportunity employer. In keeping with our Jewish values, CHAI supports a thriving Baltimore that celebrates diversity and appreciates the unique combination of gender, race, age, religion and ethnicity, sexual orientation, intellectual and physical disabilities, and special qualities that each resident adds to the fabric of life in Baltimore. We welcome everyone interested in our mission to join us. If you require accommodations, please contact us, and we will make every effort to meet your needs.
CHAI believes that Black lives matter. We are committed to fostering a safe, anti-racist environment. Together, through open dialogue, we will continually learn and grow with a goal of achieving a culture that promotes justice and pushes for systemic change. We commit to ensuring that the voices influencing our actions are inclusive and representative. We stand firm in our belief that racial equity is essential to strong community.
- Job Family CHAI
- Pay Type Salary
- Baltimore, MD, USA