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About the Role
The Asset Management Unit is responsible for the asset management and compliance monitoring of the Agency’s existing affordable housing portfolio, which is financed under various loan and subsidy programs.
Responsibilities
- Conduct on-site compliance audits and physical inspections for assigned portfolio of troubled assets and refinance projects.
- Interact with Owners and property managers regarding property operations and management, performing site inspections and management evaluations.
- Implement and enforce Agency regulatory requirements for financial reporting, property use restrictions, lease analysis, and low-income unit set-aside requirements.
- Develop recommendations to enhance the long-term financial and physical health of assigned projects.
- Review financial and operating reports submitted by project owners and submit periodic Physical and Financial Status reports.
- Review project operations and record keeping for compliance with applicable laws and regulations.
- Prepare field reports, correspondence, and follow-up actions after site visits in a timely manner.
- Maintain Prolink/SHARS/Samis systems, including setting up compliance requirements, establishing income limits and rent maximums, and importing reports.
- Supervise, train, and mentor a team of Asset Managers.
- Conduct Pre8609 Reviews to investigate and determine compliance requirements for projects.
- Evaluate annual tenant events to ensure projects fulfill compliance responsibilities and perform due diligence.
- Prepare project-specific income limit and rent charts based on HUD published charts.
- Prepare, evaluate, and import financial data into project's annual risk analysis.
- Collaborate with project owners and managers to prepare materials and recommend solutions for compliance and performance improvement.
- Instruct managing general partners, agents, and staff on proper management practices for operations and compliance.
- Perform ongoing project maintenance activities, including review of rent increases, reserve withdrawals, tax and insurance escrows, leases, and repair requests.
- Serve as a project coordinator liaison between Marketing and FEHO.
- Assist in other functions and duties of the Statewide Asset Management Unit.
Requirements
- Minimum of 3-5 years’ experience in affordable housing property management or a closely related field (real estate finance, accounting, or business administration).
- Excellent analytical, organizational, problem-solving, computer, and communication skills.
- Proficiency in Microsoft Office (Word, Excel, and PowerPoint).
- Occasional overnight travel is required.
- A valid NYS driver’s license is required.
- Physical capacity to perform unrestricted travel and conduct building, unit inspections, and on-site regulatory compliance audits.
Skills
- Property management
- Affordable housing
- Real estate finance
- Accounting
- Business administration
- Analytical skills
- Organizational skills
- Problem-solving skills
- Computer skills
- Communication skills (oral & written)
- Microsoft Office (Word, Excel, PowerPoint)
- HUD 4350 Requirements (preferred)
- Low-Income Housing Tax Credit Program Compliance (preferred)
Location
- New York State
Work Type
- Full-time
Experience Level
- 3-5 years
Education Level
- Bachelor’s degree preferred
About the Company
- New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency.
- HCR's mission is to build, preserve, and protect affordable housing and increase homeownership throughout New York State.
Equal Opportunity
- NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility.
- HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency.