What are the responsibilities and job description for the Asset Manager position at New York State Homes & Community Renewal?
New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State.
A Civil Service exam is not required for this position. Candidates must meet the minimum qualifications outlined below to be considered.
NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility. Our work would not be possible without the diverse backgrounds, experiences, ideas, and abilities of our employees. HCR is committed to developing a workforce which represents the diverse population of New York State. HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency.
The Asset Management Unit is responsible for the asset management and compliance monitoring of the Agency’s existing affordable housing portfolio. This portfolio has been financed under various loan and subsidy programs including HTF, TKEY, HOME, LIHC and SLIHC.
Duties and Responsibilities:
- Comprehensive compliance monitoring of a designated portfolio of projects in the Asset Management portfolio financed by the HTFC and/or DHCR including HTF, TKEY, HOME, LIHC and SLIHC for regulatory compliance, physical and financial status and habitability standards.
- Interact frequently with owners and property managers regarding the operation and management of the property; perform periodic site inspections and management evaluations as required by the project’s regulatory agreements and Agency’s policies.
- Implement and enforce the Agency’s regulatory requirements regarding financial reporting, property use restrictions, lease analysis and the low-income unit set aside requirements.
- Develop recommendations to enhance the long term financial and physical health of projects assigned to the Asset Manager
- Review financial and operating reports submitted by project owners; upon request, submit periodic physical and financial status reports. Reviews project operations and record keeping for compliance with applicable laws and regulations.
- Prepare field reports, correspondence, and corresponding follow-up to site visits.
- Instruct managing general partners, managing agents and site staff on proper management practices for improving overall operation and compliance with applicable program requirements.
- Develop, implement and manage corrective action to resolve project non-compliance issues and enhance physical and financial performance of portfolio projects;
- Perform on-going project maintenance activities including review of rent increases, reserve withdrawals, insurance, leases and repair requests.
Qualifications:
- Requires minimum of 3-5 years’ experience in property management of affordable housing or closely related field, which may include real estate finance and/or accounting or business administration.
- Bachelor’s degree in real estate finance, accounting, or business administration, preferred.
- Excellent analytical, organizational, problem-solving, computer & communication (oral & written) skills are essential.
- Certification and/or proficiency with HUD 4350 Requirements and Low-Income Housing Tax Credit Program Compliance, preferred.
- Proficiency in Microsoft Office (Word, Excel, and PowerPoint) are essential.
- Occasional overnight travel and a valid NYS driver’s license are required.
- Physical capacity to perform unrestricted travel and conduct building, unit inspections and on-site regulatory compliance audits.