Director of Asset Management

6 hours ago

Dallas, United States AG Living Full time
Req Number
ASS-24-00010

Position
Director of Asset Management

EOE Statement
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status or any other characteristic protected by law.

Description

JOB SUMMARY: The Director of Multifamily Asset Management will work closely with the Vice President of Asset Management to provide strategic and operational oversight for a portfolio of Class B & C multifamily properties. This role is focused on optimizing asset performance, improving Net Operating Income (NOI), enhancing tenant retention, and managing capital projects. The Director will collaborate with property management, construction teams, and senior leadership to ensure properties achieve their financial and operational goals. Ideal candidates will have 8+ years of experience in multifamily asset management, particularly with Class B & C properties, and demonstrate strong leadership, strategic insight, and operational expertise.

VALUES MODELED: All employees are expected to bring our values to life every day by demonstrating:
  • RESPECT: Treat people with courtesy and kindness, valuing inclusion and diversity.
  • ACCOUNTABILITY: Honor commitments, focus on delivering solutions, and take ownership of responsibilities.
  • INTEGRITY: Act with honesty, honor, and transparency in all activities.
  • SERVICE: Be socially conscious, proactive thinkers, committed to improving well-being.
  • EXCELLENCE: Strive for excellence, adapt, innovate, and exceed expectations.
ESSENTIAL DUTIES AND RESPONSIBILITIES:

Asset Portfolio Management:
  • Lead weekly performance reviews with property management to assess leasing, renewals, expense control, and capital project progress.
  • Conduct monthly financial reviews, including P&L statements, balance sheets, and accounts receivable/payable, providing actionable insights to improve financial accuracy and performance.
  • Perform regular site visits, conducting in-depth reviews of property operations, maintenance, and tenant interactions to identify areas of improvement and maximize NOI.
  • Collaborate with construction and operations teams to monitor and ensure timely completion of capital projects, including input of rent premiums.
  • Develop and implement expense reduction and income generation initiatives across the portfolio, tailored to each property's unique needs.
  • Manage annual budgeting processes, working closely with operations to set realistic and performance-driven financial goals.
  • Ensure compliance with financial agreements, legal and regulatory requirements, and oversee insurance claims, including communication with equity partners and insurers.
  • Stay informed on market trends and new opportunities for amenity upgrades and unit renovations to enhance asset value and tenant appeal.
Property Operations:
  • Oversee lease management, including negotiations, renewals, and terminations to optimize lease terms and tenant satisfaction.
  • Engage with tenants to resolve concerns and improve tenant relations, enhancing overall retention rates.
  • Manage vendor relationships to ensure cost-effective and high-quality service delivery.
  • Maintain compliance with property laws, regulations, and industry standards, proactively addressing any operational issues.
Reporting and Analysis:
  • Analyze weekly and monthly reports to track asset performance and guide operations on strategic improvements.
  • Prepare investor reports, providing detailed updates on property performance, financial status, and strategic initiatives.
  • Monitor market conditions and conduct regular competitor analysis to maintain a competitive edge.
  • Collaborate with senior leadership to prepare quarterly presentations, highlighting key performance metrics, market insights, and operational strategies.
EDUCATION/EXPERIENCE:
  • Bachelor's degree in Real Estate, Finance, Business Administration, or a related field.
  • Master's degree or industry certifications (e.g., CPM, CFA) preferred.
COMPETENCIES:
  • Strong analytical skills with a deep understanding of financial metrics and asset performance drivers.
  • Proficiency in property management software and financial modeling.
  • Excellent negotiation skills with experience in lease management and vendor negotiations.
  • Comprehensive knowledge of real estate laws, regulations, and compliance requirements.
KEY QUALITIES:
  • Strategic Vision: Ability to develop and execute strategies that align with the company's long-term objectives.
  • Leadership: Lead cross-functional teams effectively and inspire collaboration.
  • Communication: Clear and concise in conveying complex financial and operational information.
  • Problem-Solving: Ability to identify issues and develop creative solutions to enhance asset value.
  • Integrity: Commitment to ethical practices and high standards in asset management activities.
  • Adaptability: Respond proactively to changes in market conditions to drive asset performance.
  • Professional Development: Engage in ongoing learning to stay updated on industry trends and best practices.


This position is currently accepting applications.

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