Residential Asset Management Associate

Residential Asset Management Associate Location New York, NY (NoMad area) :

The Asset Management Associate will assume an active role in portfolio-level strategic planning, 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 manner
• Compile 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 analyses
• Assist in the creation of the annual business plans for each asset or portfolio

Operational Analytics

• Leasing : assure that vacancy and renewal trackers are updated periodically by operations; monitor affordable lease expirations/renewals
• Revenue : 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 identified
• Collections: lead monthly arrears meetings with operations, follow-up actively on high delinquencies
• Operational 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

• Develop a working knowledge of leases, loan documents, partnership agreements, and other agreements to assist with general responsibilities
• Assist with property/portfolio takeovers as needed

Qualifications & Requirements

• Bachelor's/master's degree in finance, business or a related fiel
• 3-5 years of experience in real estate property and asset management; hands-on property management experience and knowledge of LIHTC compliance guidelines preferred
• Yardi Voyager working knowledge is required
• Exceptional analytical and presentation skills (intermediate Excel modeling preferred)
• Attention to detail and ability to learn quickly
• Excellent interpersonal and communication skills

Job Type: Full-time

Pay: $110,000.00 - $125,000.00 per year

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance

Compensation package:

• Performance bonus

Experience level:

• 3 years
• 5 years

Schedule:

• Monday to Friday

Work setting:

• In-person
• Office

Ability to Relocate:

• New York, NY 10016: Relocate before starting work (Required)

Work Location: In person