Asset Manager

Help Address Vermont’s Housing Crisis!

Downstreet Housing and Community Development is a private, mission-driven, not-for-profit organization dedicated to delivering social justice through the power of affordable housing. We pride ourselves on connecting people to the resources they need to thrive and creating equitable opportunities for everyone in Central Vermont to access safe, healthy homes. Through our work, we strengthen the health and future of our local communities.

We are looking for an experienced Asset Manager to join our team!

Downstreet is seeking an experienced candidate committed to affordable housing and eager to help us ensure the long-term sustainability and financial viability of our affordable housing real estate portfolio.

Key Responsibilities

· Oversee the performance of affordable housing properties, ensuring they meet financial and operational goals. Develop a thorough understanding of each property and its challenges.

· Conduct property inspections and assessments to identify and address operational issues. Develop and implement strategies to improve property performance.

· Monitor financial performance, including budgets, expenses, and revenue. Prepare and review financial reports, variance analyses, and forecasts.

· Identify potential risks and develop mitigation strategies. Ensure proper insurance coverage for all properties, manage claims, and work with insurance providers to minimize risk exposure.

· Work closely with the management team and Development Division to properly structure property rents, utility schedules, operating expense budgets, and reserve deposits and withdrawals to prepare a property for recapitalization and/or refinancing.

· Develop and work with staff to implement preservation strategies for older housing projects, ensuring their structural integrity, compliance with safety standards, and ongoing viability.

Experience and Education

· Bachelor’s degree in Business Administration, Real Estate, Finance, or a related field and a minimum of 5 years of experience in asset management, property management, or a related field, preferably in affordable housing, an equivalent combination of education, employment, and life experience.

· Strong understanding of affordable housing programs, including HUD, LIHTC, and other federal, state, and local regulations.

· Proven financial analysis and budgeting skills.

· Proficient in Microsoft Office Suite and ability to learn relevant software.

· Commitment to equity and inclusion and social and economic justice.

· Valid Vermont Driver’s License and personal vehicle.

Physical Requirements

· Prolonged periods sitting at a desk and working at a computer.

· Ability to inspect properties including basements and living units with stairs

Downstreet is an equal employment opportunity employer, and all qualified applicants, regardless of race, color, ancestry, religion, gender, gender identity or expression, sexual orientation, age, national origin, marital status, disability, or Veteran status are encouraged to apply.

Job Type: Full-time

Salary: $80,000 - $90,000 annually, commensurate with experience

Benefits: Competitive benefits package including 403b match, health and dental insurance, paid holidays, paid time off, life insurance, short-term disability, flexible schedule, and hybrid remote/office work schedule available

To apply, please submit a Cover Letter (required) and Resume at https://downstreet.org/careers/

Job Type: Full-time

Pay: $80,000.00 - $90,000.00 per year

People with a criminal record are encouraged to apply

Work Location: Hybrid remote in Barre, VT 05641

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Downstreet Housing & Community Development

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Asset Manager