Residential Asset Management Associate
📋 Role Overview & Responsibilities
The Asset Management Associate will assume an active role in portfolio-level strategicplanning, financial reporting, budgeting and staffing, including the annual budget process and quarterly reforecasts for a portfolio of 7K+ residential units.
Responsibilities
Reporting/Forecasting Assist with monthly income statement review with property managers and accounting to assure that expense accruals and reclasses are accurate and posted in a timely mannerCompile and maintain weekly/monthly/quarterly Asset Management reports (such as weekly collections report, monthly cash flow & health report, key operational metrics, etc.)Assist in the preparation of property budgets, reforecasts, and variance analysesAssist in the creation of the annual business plans for each asset or portfolio
Operational AnalyticsLeasing: assure that vacancy and renewal trackers are updated periodically by operations; monitor affordable lease expirations/renewalsRevenue: generate monthly reports from Yardi on resident billing (such as monthly posting, rent roll, GPR report, etc. ) both tenant and subsidy (HAP), to identify any discrepancies; work with the site teams to address any discrepancies identifiedCollections: lead monthly arrears meetings with operations, follow-up actively on high delinquenciesOperational Metrics: compile and monitor service contract expirations and increases, update capital expenditure and unit renovation trackers as needed; actively monitor and track portfolio-wide HPD, DOB, DEP and FDNY violations
General Responsibilities Working knowledge of leases, loan documents, partnership agreements, and other agreements to assist with general responsibilitiesAssist with property/portfolio takeovers as needed
Qualifications & RequirementsBachelor’s/master’s degree in finance, business or a related field3-5 years of experience in real estate property and asset management; property management experience and knowledge of LIHTC compliance guidelines preferredYardi Voyager working knowledge is requiredExceptional analytical and presentation skills (intermediate Excel modeling preferred)Attention to detail and ability to learn quicklyExcellent interpersonal and communication skills
Frequently Asked Questions
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This position is located in New York City Metropolitan Area with potential relocation and sponsorship assistance depending on candidate qualifications.
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