Asset Manager

VCDC’s Asset Managers support our network of affordable housing partners served by the Low-Income Housing Tax Credit program throughout Virginia and the surrounding states. This position will oversee a portfolio of approximately 35-50 properties at any time and work collaboratively with them to help maximize operating performance and ensure program compliance.

This is a mid-level portfolio and relationship management position that is well suited for someone that has prior experience in housing and community development, a knowledge of property management and the Low-Income Housing Tax Credit program, and an expertise in developing, analyzing, and managing project budgets. Our ideal candidate has a passion for mission-driven community development and creating equitable and affordable housing opportunities.

VCDC is a nonprofit community development organization based in Richmond, Virginia. We provide capital solutions and strategic partnerships to support affordable housing and community development across Virginia and beyond. Our work includes equity investments backed by Low-Income Housing and Historic Tax Credits, compliance and capacity-building support, and consulting services. Through our affiliates, the Virginia Community Development Fund (VCDF) and Virginia Community Development Advisory Services (VCDAS), we also offer lending and technical assistance for housing, commercial, and economic development projects.

Our work is guided by the following values:

People – We go the extra mile for those we serve and work with.

Partnerships – We collaborate with empathy, curiosity, and shared purpose.

Community – We define success by the housing and economic security we help deliver.

Equity – We invest in overcoming injustice and advancing opportunity.

Manage the financial health and operational performance of approximately 35–50 properties within VCDC’s portfolio, ensuring full compliance with Section 42 (Low-Income Housing Tax Credit) requirements.

Review and analyze monthly and quarterly property financial reports and audited financial statements, identifying trends, variances, and potential financial or operational risks.

Analyze and evaluate annual operating budgets to identify financial and operational risks, assess accuracy, and ensure alignment with performance expectations.

Monitor resident income certifications and occupancy eligibility to ensure ongoing compliance with LIHTC and other applicable regulations.

Identify and help mitigate risks that could lead to the loss of tax credits or negatively affect residents, investors, or the property’s reputation.

Technical Assistance & Partner Support

Provide technical assistance and guidance to property managers, owners, and general partners to support effective operations and long-term asset performance.

Conduct on-site visits and property inspections across Virginia and adjacent states to evaluate physical conditions, review compliance documentation, and strengthen relationships with management agents.

Offer targeted support in areas such as marketing and leasing strategies, budgeting, LIHTC compliance, and preventative maintenance planning.

Closely monitor and assist with “watch list” properties, collaborating with management agents and sponsors to improve financial and operational outcomes.

Participate in the planning and delivery of property management training conferences and related capacity-building initiatives.

Additional Responsibilities

Actively contribute to cross-departmental initiatives and teams as assigned.

Travel regularly to properties, primarily within Virginia, for inspections, audits, and technical assistance; some overnight travel required.

Perform other duties assigned to support the goals and mission of the organization.

VCDC Asset Managers are expected to deliver consistent, high-quality technical and operational support across their assigned portfolio. They ensure regulatory compliance, promote financial stability, and foster strong, collaborative relationships with partners. Success in this role requires strategic thinking, sound judgment, and a proactive approach to identifying and…