Senior Asset Manager

Senior Asset Manager

145 Taylor St, San Francisco, CA 94102

Salary Range $ - $ Salary/year Position Type Full Time Job Shift Day

Under the general direction of the Director of Asset Management, the Senior Asset Manager is responsible for ensuring that a sub-portfolio of TNDC properties achieves the financial, physical, and social goals and standards of the owner, TNDC, and its funders. Of particular importance is planning property and portfolio re-capitalization and execution of partner exits. Overall, there is exposure to many issues with many opportunities for creative problem solving.

This is a very good opportunity for professional development in real estate.

Financial Well-Being

• Establish and monitor financial performance standards for a portfolio of approximately twenty (20) assets within TNDC's portfolio.
• Monitor and provide input on annual rent setting goals to meet property financial performance targets; monitor annual income certification process and participate, as-needed, in annual file audit strategy.
• Contribute to property Watch listing work-out analysis, discussions, and identification of asset-specific solutions
• Monitor the current and long-term financial status of TNDC projects by reviewing operating budget variance reports and by preparing long-term operating cash flow projections
• Review and manage asset-level data integrity in Yardi (or equivalent), document management, and Microsoft BI dashboards; standardize chart of accounts mapping for analytics
• Contribute to preparation of audited financial statements, i.e., related party fees, contingent liabilities, reserves, and surplus cash analysis and distribution
• Assist Director of Asset Management and Accounting Team in audit tie-out procedures, and provide variance narratives to streamline annual audits and monitoring visits.
• Review audited financial statement draft reports.
• Propose solutions to structural deficits and propose disposition of annual surplus/deficits
• Responsibility for at least one technical specialization for the portfolio, such as property tax, mortgage, HUD contracts, or insurance management.

Physical Well-Being

• Ensure portfolio meets owner physical quality standards
• Approve specific capital improvement project proposals
• Ensure that capital needs assessments are performed on all properties, either internally or from third-party consultants; utilize findings to inform asset management plans, capital improvements prioritization, and/or recapitalization strategies
• For moderate rehabs, serve as owner's rep in preconstruction, change order control, schedule/cost oversight, and relocation planning coordination (with PM and services)
• Assist Facilities Team with establishing portfolio decarbonization and resilience targets (electrification, heat pump conversions, envelope upgrades) with facilities team, receive reports from facilities who track energy/water benchmarking, and help direct appropriate team to pursue incentives
• Complete property site visits annually, to assess operations and physical conditions, with additional site visits as needed.

Portfolio Planning and Re-capitalization

• Write property-specific asset management plans through analysis which finds each properties problems, opportunities and actions
• Contribute to portfolio long-range planning and lead execution of actions, such as re-finance, partner exits, increasing savings or finding new funding sources

Investor/Lender Contract Administration

• Minimize financial risk by ensuring compliance with third party requirements OR Follow the annual compliance calendar (CTCAC/TCAC, CDLAC, HUD, HCD, MOHCD, SF DBI/SFFD where applicable) developed by Director and ensure timely filing—e.g., Annual Owner's Certifications, monitoring submissions, rent/income limit updates, utility allowances, and affirmative marketing reporting
• Track and fulfill city monitoring/reporting obligations specific to SF-funded assets, including compliance with recorded affordability covenants and services commitments
• In collaboration with Compliance inspection schedule, monitor stakeholder inspections, findings, and close-outs
• Maintain property asset management plans/deal books that include analysis of most restrictive requirements, services requirements, and other regulatory requirements that need to be tracked annually
• Monitor resident services outcomes that tie to asset KPIs (e.g., tenancy stabilization, reduced arrears/evictions, etc.)
• Provide timely information to and maintain excellent relationships with lenders, investors, and government agencies
• Preparing contract analysis summaries for loan and equity agreements
• Administer loan and equity agreements after initial and final loan closings

Responsibilities Furthering Multiple Owner Goals

• Advance Owner's main objectives by commenting on Property Management policies plans and procedures
• Work with TNDC development staff to create initial operating budgets and project designs that achieve Asset Management goals of long-term financial stability, cost…