Direct asset management for Sheppard Pratt’s Community Services’ supportive housing, managing a growing portfolio of high-quality affordable housing for individuals with disabilities and other special needs populations. Our portfolio includes multiple compliance and finance layers, broad geographic reach, and significant expansion potential. The Director of Asset Management manages the financial and physical performance of the portfolio in collaboration with finance, facilities, development, and resident services. The Director leads a property management team that provides exceptional resident relations and compliance with state and federal regulatory and funding requirements. In addition, this position assists in the execution of transactions critical to portfolio performance, contributes to selected real estate development projects, and leads other special projects.
The Director of Asset Management is responsible for site visits, financial review, positioning for property redevelopment/refinancing, and partner reporting. The Director oversees compliance for housing and building funding requirements, including, but not limited to HUD, LIHTC, CHDO, GHFP, SHOP, HOME Program, and CDBG. The Director also oversees and manages tenant/landlord relations, with property management and services teams.
1. Financial review: Manage the financial and physical performance of the portfolio, in collaboration with Finance, Property management, Development, and Resident services teams. Responsible for site visits, financial review, positioning for property redevelopment/refinancing, and partner reporting. Prepares appropriate rental rates by conducting market research, determining costs and considering financial sustainability. Review and approve annual operating budgets and capital expenditure plans.
2. Compliance: Works with the U.S. Department of Housing and Urban Development (HUD), State and local government, tenants, staff, and others on internal and external reporting and compliance practices.
3. Staff management: Through direct reports, oversees property management across residences in Sheppard Pratt’s Community Services. Hires, trains, mentors, and evaluates property staff. Directs personnel and resources to ensure property is properly maintained and corporate objectives met.
4. Operations and Systems Improvement: Align and improve asset and property management systems, in collaboration with internal stakeholders. Develop strategic plans for underperforming properties and coordinate execution of the plans by property management and other internal entities. Lead systems change efforts, e.g. improving vacancy rates, turnover management, capital budget needs assessments, and reserves management.
5. Tenant/resident relations: Lead a team of property managers in exceptional tenant/resident relations. This includes selecting qualified tenants, collects deposits and rents, enforcing terms of rental agreements, resolving tenant complaints, and preventing evictions. Applies trauma-informed practices across property management.
6. Real estate development: Supports real estate development, including feasibility analysis, acquisition, partner management, design development, financing, public approvals, construction, and community relations. Establishes and maintains relationships with landlords and property management firms, as needed.
7. Community relations: Responds to neighborhood concerns, participates in HOA and/or neighborhood meetings, and otherwise strengthens community relations.
8. Internal coordination: Promotes open dialogue internally on vacancies, tenants, physical condition of property, and financial issues.
1. 5+ years of affordable residential real estate, finance & accounting, asset management, and/or property management experience is required.
2. Bachelor’s degree or equivalent required, preferably in Business Management, Accounting, Real Estate, Finance, or related field
3. Experience managing a portfolio of real estate, and familiarity with federal, state, and local government funding. HUD Section 811 experience strongly preferred.
4. Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines.
5. The position requires strong communication and writing skills, in addition to strong quantitative skills, and the ability to read, interpret and analyze financial statements for supportive housing real estate ventures.
6. Work requires exceptional interpersonal skills to communicate positively and effectively with residents and clients, all levels of staff, contractors, and state, local, and regulatory inspectors, supervise, train and motivate housing staff
7. Commitment to and passion for serving individuals with disabilities.
Working Conditions & Physical Demands:
Note: Reasonable accommodations may be made to enable a qualified individual with a disability(s) to perform the essential functions of this position.
1. Works primarily in general office environment.
2. Work requires walking to assess housing and performing activities such as reaching, standing, pushing, pulling, repetitive motion, and occasional need to climb or balance, stoop, kneel, crouch or crawl.
3. Is occasionally exposed to fumes or airborne particle, moving mechanical parts and vibration.
4. Requires mid-range vision, depth perception, and field of vision.
5. Work requires frequent use of a computer.
6. Work requires frequent travel across the state to various Sheppard Pratt locations.