Asset Manager

Shelterforce Magazine • Barre, VT, United States • $200k - $250k / year • 1m ago

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.

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, or 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.
Must be able to climb stairs and lift 25 pounds at a time.

Compensation

This is a full-time, exempt position. Salary: $80,000 - $90,000 annually.

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.

Application Instructions

Downstreet is strongest when we have a team that represents a variety of backgrounds, perspectives, and skills. We know that the more inclusive we are, the better our work will be. We are an equal 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.

To apply, please visit: downstreet.org/asset-manager. Please include a resume and a cover letter explaining why you would like to be a part of the Downstreet team. Applications submitted without a cover letter will be considered incomplete and will not be reviewed.

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