Founded in 1968, Abode Communities mission is to “create service-enhanced affordable housing and socially-beneficial community facilities that promote the social, economic, and physical transformation of underserved communities.” The organization’s impact is realized through a fully integrated and multi-disciplinary approach to community development. The organization’s professional services – real estate, architecture and property management – ensure Abode Communities’ high-quality standard is brought to each and every residential community we place in service. Above and beyond, the organization provides complimentary mission-critical on-site resident (social) services that ensure low-income families, seniors, and people with special needs can achieve economic and personal growth, long-term self-sufficiency, and housing stability.

Abode Communities’ affordable housing portfolio consists of more than 30 properties with over 2,200 units which generates over $17 million in annual revenue.  The Director of Asset Management reports to the Executive Vice President & Chief Operating Officer, and is responsible for overseeing the operations and management of the portfolio ensuring the properties’ physical and financial well-being.  This senior level position is also responsible for making sure the properties are in compliance with their legal and regulatory requirements.  These responsibilities are carried out with the assistance of two Senior Asset Managers and by working with the Senior Vice President, Property Management and the Director of Facilities Management.

The Director of Asset Management will monitor, review and analyze the physical, financial and compliance performance of the Abode Communities’ portfolio ensuring that the portfolio meets or exceeds standards set. The Director of Asset Management will report on the performance of the portfolio to senior management and the Board of Directors on a quarterly and annual basis. Working with the Senior Vice President, Property Management and the Director of Facilities Maintenance, the Director of Asset Management is charged with maintaining, improving and providing solutions regarding the physical health of the assets.  This position is also responsible for negotiating and executing Year 15 exits for LIHTC partnerships as well as collaborating with the Real Estate Division’s Portfolio Management staff on debt restructuring or refinancing at various stages of the property’s life cycle and during an analysis for re-syndication.  The Director of Asset Management supervises two Senior Asset Managers.

1. Oversee the operations and management of the organization's entire portfolio ensuring that properties meet or exceed financial performance expectations, are physically maintained at or above company standards, and comply with all regulatory requirements

2. In collaboration with the Senior Vice President, Property Management review and approve annual property budgets to ensure operational efficiencies, as well as conduct monthly variance analysis to understand and explain both project specific and portfolio wide trends, including analysis and proposed resolutions to any portfolio issues

3. Working with the Director of Facilities, oversee the development of capital improvement plans and provide solutions to capital improvement needs through management of reserves and/or through restructuring of existing debt or refinance opportunities

4. Update, maintain and present to the Executive Management Team and the Board of Directors various reports including but not limited to the Portfolio Performance Report and the Schedule of Real Estate Owned

5. Oversee and manage tax credit investor buyout activities for all existing projects in the portfolio that are at the completion of the initial 15-year LIHTC compliance period, including Strategize, negotiate with limited partners and execute year 15 exits; also includes collaboration with consultants and attorneys and managing document flow until culmination

6. Develop and maintain portfolio-wide scan to identify and evaluate financial and physical needs of properties within Abode Communities’ existing portfolio

7. Conduct physical, financial and operational due diligence of specific properties at or beyond 10 years of the initial occupancy and compliance period

8. Assist the CFO in ensuring that limits of coverage comply with minimum requirements provided for in all agreements (i.e., partnership, lender, regulatory, etc.)

a.  Property

b.  Liability

c.  Workers’ Compensation

9. Maintain property tax welfare exemption by submitting initial application and maintain ongoing compliance

10. Supervise and train the asset management team, including prioritizing responsibilities and managing workload

11. In collaboration with the Vice President, Property Management and Director of Facilities Management, ensure properties are performing at optimal levels physically and financially and are in full compliance in all aspects; assist in resolving operational and compliance issues when necessary

12. Engage in collaboration within industry including the use of industry wide databases for internal benchmarking

13. Establish and maintain effective business relationships with all financial partners including lenders and investors

1.    Bachelor’s Degree and five or more years of progressive experience in asset management, property management or affordable housing development including working with LIHTC, HUD and other public subsidy regulatory programs. Previous management or supervisorial experienced desired

2.    Detailed working knowledge of housing asset management operations and be able to read and interpret legal documents such as limited partnership agreements, regulatory agreements and social service requirements and agreements.

3.    Knowledgeable of governmental entities and their asset management functions, skilled in operations, financial analysis and reporting, budgeting, and familiar with general accounting; intermediate or better proficiency with Microsoft Office (particular emphasis in Excel)

4.    Demonstrated analytical and problem-solving skills, good organizational skills, attention to details, excellent oral and written communication skills, and ability to work in a team environment

5.    Valid California driver's license and availability of an insured vehicle to travel within the Abode Communities’ service area. Vehicle must meet Abode Communities’ insurance requirements

This is a full-time, exempt position, salary commensurate with experience.

Abode Communities’ employees enjoy an abundance of benefits include a competitive benefits package (health, dental, vision); 9/80 work schedule, voluntary retirement plan, Flexible Spending Plan, subsidized parking, and vacation and sick leave.

Abode Communities is an Equal Opportunity Employer.