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About the Role

The Senior Asset Manager is responsible for leading the development and execution of strategies to preserve and enhance the value, performance, and condition of permanent supportive housing properties. This role ensures compliance with federal, state, and local regulations while meeting or exceeding asset performance targets. The ideal candidate will have a strong background in multi-family housing property management, along with advanced expertise in financial reporting and analysis. The Senior Asset Manager will foster proactive communication and collaboration with Internal Partners, including executive leadership, team leaders, finance, accounting, and other program areas. This position oversees key areas such as Budgeting & Financial Reporting, Operations Oversight, Capital Improvements & Reserve Draw Administration, Relationship Management, Year 15 Buyout Planning, and the development and implementation of Operating Policies, Procedures, and Staff Training. As part of the Asset Management team, you must be a leader committed to excellence and growth, as HomeRise is continually changing to meet the needs of low-income residents. This position will assist HomeRise in accomplishing our mission to end homelessness.

Responsibilities

Provide long-term strategic oversight and guidance on operations for each property in assigned portfolio.
Serve as primary Asset Management contact for external partners, i.e., lenders, syndicators, tax credit allocators, third-party inspection companies, HUD, co-GPs, etc.
Monitor portfolio’s financial and operational performance; communicate any potential operational risk to management.
Act as point person for site inspections related to occupancy and compliance requirements, i.e., federal, state, and local agencies.
Work closely with Housing Operations staff to complete pre-visit checklists or questionnaires, as needed.
Ensure a high standard of compliance across portfolio, i.e., LIHTC and all federal, state, and local compliance-related regulations.
Where deficiencies are identified, works directly with appropriate parties to timely resolve issues.
Analyze portfolio and develop economic strategies that mitigate underlying risks, assign risk-ratings and prepare watch-list report narratives including the identification and analysis of under-performing assets, hurdles in cash flow, rental vacancy rate, delinquency losses, debt service, and NOI.
Create and monitor action plans working closely with Housing Operations.
Lead the development and execution of real estate investment strategies, ensuring alignment with HomeRise’s goals of housing preservation and development.
Identify and manage financial risks related to the real estate portfolio, preparing ongoing financial evaluations and actionable recommendations.
Review partnership agreements, financing documents, regulatory agreements, tax returns, and other relevant sources to align with ownership objectives and ensure compliance.
Guide the financial and physical performance of HomeRise’s overall portfolio, ensuring compliance with lender, investor, and regulatory requirements.
Conduct regular financial analyses, comparing property budget-to-actual results with proforma projections and key performance indicators (KPIs).
Monitor and manage property debt, refinancing opportunities, and negotiate terms as necessary.
Develop and maintain schedules for lender covenants and property fees in coordination with the Finance team.
Stay informed about industry trends, market conditions, and regulatory changes that impact the portfolio.
Review and oversight of periodic investor reporting, quarterly asset management reports, distributions and monitoring of cash and reserve utilization.
Benchmark property operating including, but not limited to, net operating income, gross revenue, operating expenses, investment projections, return of investment, cash flow and distribution analysis.
Evaluation of market trends, forecasting cash flow and benchmarking these trends against the portfolio.
Oversee the collaborative efforts with the Finance and Housing Operations property management teams to analyze variances in operating performance against industry benchmarks.
Develops and presents solutions to structural deficits and disposition of annual surplus/deficits.
Organize and file ownership, loan, and regulatory agreement amendments and periodic reporting sent to investors or reporting agencies in a timely manner.
Establish long-term capital needs plans and preventative maintenance plans with Property Management teams.
Coordinate with Maintenance Operations Managers, Housing Operations Supervisor, and Staff Accountants on pre-approvals for budgeted long-term capital plan improvements.
Lead the Real Estate Capital Asset Planning program, aligning cross-functional teams on building investment strategies for HomeRise’s portfolio.
Assist in determining short- and long-term strategies for various assets, partnering with key stakeholders to develop Capital Expense 5-year plans.
Develop business cases and financial analyses, including cash flow projections, NPV, P&L impact, and IRR, to support investment decisions and present to key stakeholders.
Represent HomeRise’s interests in site investment programs, including capital improvements and seismic programs, ensuring alignment with organizational goals.
Manage real estate data and documentation for both owned and leased properties, leading portfolio-level reporting and analysis.
Collaborate with Property Management on leasing and transactional activities as needed.
Represent HomeRise’s operational interests in joint venture partnerships, ensuring compliance with tax credit and RAD regulatory requirements.
Oversee the annual budgeting process for tax credit and RAD properties, conducting regular financial assessments with joint venture partners.
Coordinate with property management teams to optimize operational efficiency and ensure alignment with long-term objectives.
Conduct site visits and inspections to assess the condition of properties and ensure they meet regulatory and operational standards.
Ensure application submission with local County Assessors to initiate and maintain welfare tax exemptions on qualified Portfolio Assets and their respective ownership entities.
Build relationships with local partners including City and State staff, lenders, investors, and the general public in a professional manner.
Develop positive working relationships with Internal Partners from other teams through collaboration, proactive communication, and empathy.
Deliver low-income housing tax credits to limited partner investors, repay any deferred developer fees, and plan for the exit of investor limited partners for low-income housing tax credit assets at Year 15.
Monitor changes in general partner and investor limited partner tax capital accounts for potential exit taxes and cash distribution at dissolution of the limited partnership.
Review legal agreements, understand rights with those agreements in consultation with third-party consultants or legal counsel to purchase the limited partner interests or property from investors within the purchase option or right of first refusal (ROFR) period.
Review insurance policy requirements for the management portfolio with the Director of Finance and provide proof of insurance as required to lenders and other agencies.
Coordinate oversight and tracking of new and open insurance claims, lawsuits, and track outcomes for investor, lender and executive leadership review.
Partner with Finance teams to share changes in the affordable rental housing real estate portfolio (REO Schedule) to maximize insurance value for HomeRise.
Monitor warranties and track construction defects prior to their expiration with Site and Maintenance Operations Managers.
Work closely with the Finance and Property Management teams to analyze financial data, identify trends, risks, and opportunities for portfolio optimization.
Collaborate with Finance and Property Management to develop accurate pro forma financials and long-term financial plans for new acquisitions.
Provide Asset Management insights to Development teams throughout all stages of new project development.
Manage cash flow, capital expenses, reserve funding, and owner distribution projections in partnership with Finance.
Support the Finance and Property Management teams during audits and tax filings, addressing inquiries and ensuring compliance.
Identify and mitigate portfolio-wide risks, particularly related to property insurance.
Propose new operating policies and procedures to Directors and Executives.
Attend training and education classes to maintain current knowledge on Asset Management best practices through industry training sessions and annual conferences, as needed.
As assigned.

Requirements

Minimum of five (5) years of professional experience in multi-family compliance and/or multi-family real estate asset management, property management, finance, or related field; OR, three to five years of experience working with a developer in tax credit properties.
Undergraduate degree or equivalent, affordable housing industry experience, and/or certifications.
Ability to utilize spreadsheet tools and word processing for analyzing and communicating information.
Supervisory experience with strong skills in program development, policy, and procedures.
Strong organizational, detail-oriented, and time-management skills.
Proven ability to work independently and effectively as an individual and part of the team.
Ability to meet the geographic range of the position.
Strong ability to represent the interests of the agency, interact effectively with a diverse population, and be comfortable building successful collaborative relationships with tenants, staff, and the community, and resource building.
Strong understanding and belief in Housing First Philosophies.
Sensitivity to homeless people and the issues of homelessness and recovery, and the ability to work with people from diverse educational and personal backgrounds.
Have a passion for our mission and a strong desire to make an impact at a dynamic nonprofit organization.

Skills

Multi-family housing property management
Financial reporting and analysis
Budgeting
Financial Reporting
Operations Oversight
Capital Improvements & Reserve Draw Administration
Relationship Management
Year 15 Buyout Planning
Operating Policies, Procedures, and Staff Training
LIHTC
Federal, state, and local compliance-related regulations
Real estate investment strategies
Financial risk management
Partnership agreements
Financing documents
Regulatory agreements
Tax returns
Property debt monitoring
Refinancing opportunities
Lender covenants
Property fees
Industry trends
Market conditions
Regulatory changes
Investor reporting
Asset management reports
Cash and reserve utilization
Net operating income analysis
Gross revenue analysis
Operating expenses analysis
Investment projections
Return of investment analysis
Cash flow analysis
Distribution analysis
Market trend evaluation
Cash flow forecasting
Benchmarking
Variance analysis
Structural deficits
Annual surplus/deficits
Document management
Capital needs plans
Preventative maintenance plans
Reserve draws administration
Real Estate Capital Asset Planning
Capital Expense 5-year plans
Business case development
Financial analysis
Cash flow projections
NPV
P&L impact
IRR
Site investment programs
Capital improvements
Seismic programs
Real estate data management
Portfolio-level reporting
Leasing
Transactional activities
Joint venture partnerships
Tax credit regulatory requirements
RAD regulatory requirements
Annual budgeting
Financial assessments
Operational efficiency
Site visits and inspections
Welfare tax exemptions
External partner engagement
Internal partner engagement
Low-Income Housing Tax Credits
Deferred developer fees
Year 15 exit planning
Tax capital accounts
Exit taxes
Cash distribution
Dissolution of limited partnership
Purchase option
Right of First Refusal (ROFR)
Insurance policy review
Proof of insurance
Claims management
Lawsuits tracking
Procurement
REO Schedule
Warranty monitoring
Construction defect tracking
Financial data analysis
Portfolio optimization
Pro forma financials
Long-term financial plans
New acquisitions
Development insights
Cash flow management
Capital expense management
Reserve funding management
Owner distribution projections
Audit support
Tax filing support
Risk mitigation
Project management
Handling multiple tasks
Dynamic environment
Affordable housing
Corporate real estate
Team player
Matrix environment
Agile environment
Communication skills
Presenting complex ideas
Outlook proficiency
Excel proficiency
PowerPoint proficiency
KPI development
Data utilization
Performance management
Decision-making
Supervisory experience
Program development
Policy development
Procedure development
Organizational skills
Detail-oriented
Time-management skills
Independent work
Teamwork
Geographic range adherence
Agency representation
Effective interaction with diverse populations
Collaborative relationship building
Resource building
Housing First Philosophies
Sensitivity to homeless issues
Working with diverse backgrounds
Passion for mission
Impact-driven
Nonprofit organization dynamics

Location

944 Market Street, 4th Floor - San Francisco, CA

Work Type

Full-Time
Exempt
5 days in office with potential hybrid after 6 months

Experience Level

Senior

Education Level

Undergraduate degree or equivalent
Affordable housing industry experience
Certifications

Salary/Compensations

$115,000 - $130,000 Annually

Benefits

100% employer-paid employee healthcare options (Kaiser or Sutter)
Dental
Vision
Life & disability insurance
FSA childcare
Medical benefits options
Commuter benefits options
403(b) retirement investment opportunity with employer match
Employee Assistance Program
Paid training
Annual education benefit with paid time for professional development
PTO (2 weeks accrued for the first 12 months and 3 weeks accrual from 13-36 months of continuous service)
14 paid holidays with one floating day for your birthday
Sick time accrual
Employee Referral Program
HERO Award recognizing outstanding performance in the line of duty
Sabbatical leave after 5 years of service
45-minute paid lunch period per shift

About the Company

HomeRise believes that home has the power to stabilize a person’s life.
Built on a simple - but powerful idea called supportive housing, we provide people experiencing homelessness with a place to call home combined with support services, like mental health services and job training, so they can rise and transform their lives.
We organize our residents and supporters to advocate for local and state policies, like affordable housing, to help people still on the streets or at risk of homelessness.
Together, we're building a new future for our neighborhoods and the city we love.

Equal Opportunity

Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
HomeRise is an Equal Opportunity Employer without regard to people formerly experiencing homelessness, race, color, creed, gender, gender expression, gender identity, religion, marital status, registered domestic partner status, sex (includes pregnancy, childbirth, breast feeding, and related medical conditions), sexual orientation, age, veteran status, national origin or ancestry, political affiliation, physical or mental disability, medical condition including genetic characteristics, or any other consideration made unlawful by federal, state, or local laws.
HomeRise hiring policies require a background check for all applicants working directly with at-risk populations.