Residential Asset Management Associate
2 months ago
_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
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
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