Asset Manager
Listed on 2025-12-30
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Management
Risk Manager/Analyst
Description
Primary Purpose of Position: The Asset Manager I assists with the oversight of regulatory administration of some of the more standardized projects within Maine Housing’s multi-family portfolio as well as properties under the PBCA contract held with Housing and Urban Development (HUD). The position is responsible for working with Asset Manager II’s and Asset Manager III’s, owners and management companies throughout Maine as well as federal regulatory agencies providing funding and contract work.
CoreFunctions:
- Review projects for compliance to federal, state and agency regulatory requirements and proactively monitor to anticipate developing issues and risks that could impact Maine Housing’s financial exposure in the investments
- Conduct management and occupancy reviews to ensure management practices and occupancies conform to the regulatory requirements that are specific to each project
- Review of management documents, which may include Management Plans, Management Agreements, Marketing Plans, Tenant Selection Plans, and leases whenever a document changes or an ownership or management change occurs to projects in portfolio.
- Assist in drafting Notice of Violations and defaults when non-compliance is identified, follow-up on reporting and program compliance
- Work closely with Asset Manager II and III’s and Portfolio Manager in resolving the more complicated program or administrative issues
- Perform key essential tasks required under the Performance Based Contract Administration (PBCA) held with HUD
- Conduct management and occupancy reviews to ensure management practices and occupancy conform to the HUD regulatory requirements specific to each project
- Provide timely reporting of results of the review to owners (within 30 days)
- Perform on-site inspection of the property’s physical plant conditions
- Timely response to tenant inquiries regarding any life safety concerns
- Assist with Sec 8 Contract Renewal Process, Rent Increases and Special Claims
- Maintain working knowledge of various federal and state program regulations applicable to the portfolio including Bond regulations, Code of Federal Regulations, HUD Handbook 4350.3, Sec 8 Contract Renewal Guide, Special Claims, Fair Housing Laws and Section 504 Requirements as well as any new programs coming online
- Apply the appropriate requirements to the projects assigned
- Provide training and technical assistance to owners and management agents
- Respond to resident, owners, managers, and other external inquiries and issues through telephone, written, and electronic mediums
- Provide support to the Asset Manager II and III’s in processing ownership transfers that include a subsequent loan component.
- Other duties as assigned
Education and Experience: Education and two years of relevant work experience or a combination of education and training preferred. Experience with comprehending and interpreting legal documents and regulatory guidelines, and experience with the affordable housing industry highly desired.
Certifications and Licenses:- Certified Occupancy Specialist Training (COS)*
- Fair Housing Training
- Develop competency with multiple department databases:
Prolink, HDS, HUD Secure Systems
* Training and certifications to be obtained within the first year of employment or as the courses become available
Skills and Knowledge:- Experience working with multifamily real estate
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