What are the responsibilities and job description for the Asset Manager position at FWM PAYROLL CLEARING INC?
Title - Asset Manager
Company - Affordable Equity Partners, Inc, a subsidiary of JES Holdings, LLC
Location - Atlanta, GA
Schedule - In office Monday - Thursday and ability to travel about 10%.
Affordable Equity Partners, Inc. (AEP) provides a full range of investment banking services for those seeking to finance, build, purchase or rehabilitate multi-family housing. Since 1997, AEP has invested in nearly 27,000 homes in 500 communities. We serve the growing need for affordable housing across 16 states in 250 cities. We have successfully syndicated over $4 billion in tax credits to build or preserve homes for working class families and seniors.
POSITION SUMMARY
The Operating Property Asset Manager (OPAM) at Affordable Equity Properties (AEP) is responsible for the day-to-day oversight and performance of a portfolio of stabilized LIHTC (Low-Income Housing Tax Credit) properties. This role is pivotal in ensuring asset value, compliance, and operational excellence across the assigned portfolio.
Key Responsibilities:
- Asset Performance & Operations:
- Owns monthly and quarterly property performance, including P&L review, occupancy, rent variance, and utility trends.
- Develops and implements action plans to address variances and ensure properties meet or exceed underwritten expectations.
- Compliance & Reporting:
- Maintains LIHTC compliance in partnership with the Compliance team, ensuring annual recertifications and adherence to regulatory requirements.
- Manages responses to Housing Finance Agency (HFA) 8823 reports and coordinates with Legal and Compliance for timely cures.
- Prepares quarterly investor commentary and ad-hoc updates.
- Risk Management:
- Updates AHIC Operating Property Risk Ratings in MRI software, ensuring a clean audit trail for inspections, reserve draws, and capital projects.
- Capital Projects & Reserve Management:
- Manages reserve draw requests, validates eligibility, and oversees capital projects from scoping to completion.
- Ensures timely and on-budget delivery of capital initiatives and closure of third-party inspection findings.
- Leasing, Marketing & Revenue Optimization:
- Directs leasing and marketing strategies to maximize revenue and occupancy.
- Approves marketing expenditures and works with property management on resident retention and lease enforcement.
- Capital Markets, Refinance & Disposition Support:
- Supports refinancing and disposition efforts by providing accurate operating histories, capital projections, and compliance documentation.
- Continuous Improvement & AI Adoption:
- Champions process improvement and the adoption of AI/automation tools to enhance reporting, compliance, and portfolio monitoring.
Ensures smooth asset transitions from Development Asset Management and maintains responsive communication with internal and external stakeholders.- Stakeholder Coordination:
Performance Measures (KPIs)
- Occupancy and rent growth vs. underwriting and market comps.
- NOI vs. budget (variance %).
- Time to close Capital Projects from third-party inspections (avg days) and Capital project on-time/on-budget rate.
- Number of reserve draws processed with complete documentation on first submission.
- Timeliness of MRI risk rating updates (quarterly and monthly for watchlist).
- Investor report accuracy and timeliness.
- Number and timeliness of 8823 responses and cures.
Qualifications
- Bachelor’s degree in Real Estate, Finance, Business, Construction Management, or related field (or equivalent experience).
- 4–7 years of experience in multifamily asset management or affordable housing, with strong financial analysis and LIHTC program knowledge.
Experience with MRI or similar asset management systems, and comfort with automation/AI tools is preferred.
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