The Portfolio Manager ensures that Homes for America’s (HFA) properties achieve their goals in furtherance of our mission. The ideal candidate will have a thorough understanding of multifamily real estate operations, affordable housing, compliance, and strong analytical skills. In partnership with 3rd party property managers, the Portfolio Manager will be responsible for overseeing a portfolio of multifamily apartments, to ensure their financial integrity, effective lease-up, and on-going management in line with key performance metrics that meet Homes for America’s mission and creates long term value for the company. The Portfolio Manager also leads compliance and reporting efforts, including relationships with agencies, investors and lenders. This position reports to the Vice President of Portfolio Management and works within HFA’s portfolio management team.
Core Responsibilities
• Manage a portfolio of operating properties and develop relationships with third party management companies. Review property level financial reporting and ensure data integrity
• Review and evaluate annual operating budgets from third party managers
• Ensure effective lease-up of new projects in accordance federal guidelines and the Low-Income Housing Tax Credit Program
• Oversight of property physical conditions including site visits
• Work in coordination with HFA’s Service Enhance Housing team to ensure portfolio of properties operate within Homes for America’s high physical, operational and service standards
Essential Functions
Financial
- Review & analyze key performance indicators for operating properties
• Analyze monthly/quarterly property-level financial statements comparing actual to budget/proforma performance
• Monitor compliance with debt covenants and guarantees
• Ensure monthly and quarterly financial reporting requirements are sent to lenders/investors
• Review and approve replacement reserve withdrawals
• Review annual property budgets in conjunction with 3rd party property managers
• Manage refinance processes, as applicable
Compliance
• As a member of the portfolio management team, assist in ensuring that all HFA properties are operating in compliance with lender, investor, and regulatory agency requirements
• Maintain and keep updated summary of all funders’ and investors’ project requirements including reporting and inspection schedules
• Complete and/or coordinate the completion of compliance and regulatory reports
• Manage regulatory, legal and financial compliance for all LPs and LLCs
• Coordinate and participate in compliance monitoring
Real Estate Oversight
• Review preventive maintenance schedules
• Identify maintenance and other operational needs
• Review physical needs assessments
• Conduct annual inspections of the portfolio
• Commitment to HFA’s mission to develop and preserve quality affordable housing enhanced with
supportive services that enrich residents’ lives.
• Bachelor’s degree
• At least 2 years of accounting/ finance/ asset management experience; preferably in multifamily
housing financed conventionally and with Low Income Housing Tax Credits
• Knowledge of public and private housing finance programs and related compliance requirements,
including HUD, HOME, Section 8, IRS Section 42 and other programs is a plus
• Knowledge and experience with property management, multifamily acquisitions, LIHTC income
qualification and lease-up requirements
• Ability to understand and analyze financial statements, specifically budget to actual statements, balance
sheet, trial and balance sheets, and ability to prepare multi-year cash flow projections
• Computer proficiency (MS Word, Excel, SharePoint, databases, internet research,)
• Excellent interpersonal and business communication skills, both written and verbal
• High level of organization, attention to detail and follow-through
Homes for America offers competitive salaries and excellent benefits. HFA is an equal opportunity employer. Email
cover letter with salary requirements and resume to Kenyatta Bush at Kenyatta@homesforamerica.org .