REAL ESTATE ASSET MANAGER

Overview

Manage performance and compliance of multifamily housing assets with HUD/LIHTC

Key Responsibilities

• kpi evaluation
• performance benchmarking
• compliance monitoring
• reserve planning
• rent adjustments
• audit tracking

Tasks

The Asset Manager will monitor, evaluate, and support portfolio key performance tracking. They will work as a liaison, sharing pertinent information to ownership as well as ensuring 3rd party performance meets expectations and financial metrics. Communication with lenders, investors, the U.S. Department of Housing and Urban Development (“HUD”), contract administrators and owners will be needed. Experience with LIHTC, HUD, Section 42, PBV, RAD, Section 8 and other relevant housing programs or state agencies as required. Expertise in compliance policies are required with the ability to regulate or enforce compliance as needed as the Asset Manager is accountable for identifying risks, tracking inspections and audits and ensuring assets perform to investment and regulatory standards. -Evaluate key performance indicators (KPIs), including occupancy, rent growth, expense control, and delinquency. -Analyze operating performance versus approved operating budgets to identify risks or variances and escalate concerns. -Develop performance benchmarks and hold management companies accountable through scorecards, KPIs, and contract reviews. -Benchmark performance against internal portfolios and industry standards. -Collaborate with ownership and investors on HUD and LIHTC compliance and performance updates. -Monitor outcomes of HUD and LIHTC reviews (e.g. MORs, NSPIRE inspections, and HUD/CA audits); ensure corrective actions are completed by management agents -Oversee replacement reserve funding, replacement planning, and capital expenditure needs across sites. -Serve as Owners representative for all multifamily properties that are manages by third-party property management companies. This property set includes properties that have HUD involvement by way of Section 8 housing assistance payment (“HAP”) contracts (i.e. RAD, PBRA, RAB PBV, project based Section 8) as well as state housing agency oversight through the low income tax credit (“LIHTC”) program. -Track and monitor all Section 8 HAP contracts for annual renewals to ensure timely action. -Provide recommendations to ownership regarding property management company contract renewals, corrective actions, and performance issues. -Oversee annual rent adjustment processes for Section 8 HAP contracts, ensuring the property management companies follow HUD protocols for rent increases, utility analyses, and utility allowance implementation.

Requirements

• excel
• power bi
• bachelor’s
• 5+ years
• lihtc
• financial analysis

What You Bring

-COS, HCCP, CPM, BOMS or similar industry certifications preferred. -Excellent interpersonal, written, and oral communication skills. -Experience overseeing or working with third-party management companies. -Ability to solve practical and complex problems by utilizing internal and external resources. -Knowledge of HUD 4350.3, RAD PBRA/PBV, Section 8 programs, MORs, NSPIRE inspections, and HUD contract management (HAP/CHAP, rent adjustments, OCAF). -Ability to work collaboratively and independently on multiple projects. -5+ years of experience in multifamily housing, with specific experience in LIHTC and HUD multifamily housing asset management. -Advanced skills in Microsoft Excel and Real Page Asset Investment Management, Power Business Intelligence, or Revenue Management is a plus. -Bachelor’s degree in business, finance, real estate, or related field. -Strong financial analysis, reporting, and communication skills.

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Benefits

-Invest in Your Future: 401(k) with company match, plus annual merit-based increases -Prioritize Your Health: Comprehensive medical, dental, vision, life insurance, Long-Term Disability, and FSA and HSA options. -Keep Growing: Ongoing education, leadership training, and advancement opportunities across all departments. -Be Rewarded: Eligible for performance-based bonuses and commissions -Recharge and Renew: Generous paid time off and 8+ paid holidays. -Celebrate Together: Annual employee appreciation events, team outings, and company-wide recognition programs. -Voluntary Benefits: Short Term Disability, Accident, Critical Illness, and Hospital Indemnity.

About Bear Real Estate Group

-It evolved by founding distinct operating companies: Bear Property Management (1989), Bear Development, Construction Management Associates, and Bear Homes. -Its typical projects include multifamily housing developments, commercial property portfolios, and single-family home communities managed and developed under one roof. -Financially self-sustaining and privately held, it has developed thousands of housing units and millions of square feet of commercial space. -The company distinguishes itself by owning, developing, and managing properties through in-house teams, minimizing external dependencies. -Projects span from affordable housing to boutique commercial properties, with standout engagement in master-planned communities and mixed-use assets. -Bear’s history includes nearly 3,500 managed multifamily units and over 1.5 million sq ft of commercial properties under management. -Their multi-company structure enables seamless transitions from development to construction to long-term asset management.

Sector Specialisms