Multifamily Asset Manager

SUMMARY

The Asset Manager is responsible for monitoring the performance of each property and adding value to both individual properties and the overall portfolio. The incumbent will oversee the property’s entire life cycle, from acquisition through operational oversight during the hold period, and continuing through the sale of the property. The primary focus of this role is to increase cash flow and promote long-term appreciation of each property.

To achieve this, the Asset Manager must identify changing market opportunities, economic factors that could affect occupancy, developments that alter the physical asset, and investment opportunities that impact the property’s financial performance. Additionally, the Asset Manager will coordinate and implement an internal communications strategy to ensure that all third‑party management companies are aligned with And Mark’s goals and strategic vision.

The Asset Manager serves as the primary point of contact for all third‑party management companies.

• Maximize property value by managing net operating income, cash flow, and long‑term property strategy in alignment with the overall portfolio strategy and objectives.
• Identify potential operational issues that could negatively impact asset values, and recommend and implement effective solutions.
• Collaborate effectively with third‑party property managers.
• Evaluate variances and trends in operating income and expenses and communicate results to Executive Management.
• Review unit renovations, scope, premiums achieved, and suggest modifications as needed.
• Review and analyze monthly and quarterly financial statements for each property.
• Monitor on‑going capital projects monthly, including both maintenance and value‑add initiatives.
• Evaluate property performance relative to competition.
• Participate in the annual budget process.
• Assist in due diligence for new investments and during the disposition of assets.
• Focus on increasing occupancy and revenue by reviewing lead traffic and lease trends, and providing recommendations, support, guidance, and direction to on‑site teams.
• Conduct regular market surveys of competitors for review of management; ensure market survey reports are reviewed at least once per month.
• Collaborate with third‑party managers to implement innovative strategies based on market conditions and property data to enhance leasing velocity.
• Work with leasing teams at all properties and participate in leasing calls with ownership.

The incumbent is in a non‑confined office type setting in which he or she is free to move about  position may include driving a personally owned vehicle which includes exposure to the outside weather elements and moving mechanical parts. It may include some minor annoyances such as noise, odors, drafts, etc.

In the course of performing this position the incumbent spends time writing, keyboarding, speaking, listening, driving, seeing (such as close, color and peripheral vision, depth perception and adjusted focus), sitting, walking, standing and reaching.

The incumbent for this position may operate any or all of the following: telephone, smart phone, copy and fax machines, adding machine (calculator), scanner and image systems, computer terminal, laptop computer, personal computer, tablet, printers, or other equipment as directed.

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. 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. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The incumbent in this position must be able to read and understand documents, instruments, and financial reports; perform detailed work; and problem‑solve. The incumbent must also display proficiency in contact with external and internal contacts, math, reasoning, and language, including verbal and written communication. Incumbent must be able to manage stress, multiple concurrent…