VP of Asset Management - HELP Development : Job Details

Position Summary

The VP of Asset Management position is new to HELP Development Corp. (“HELPDevCO”). The position will report to the President and serve as an integral member of the leadership team. The successful candidate will lead the financial stewardship and strategic growth of HELPDevCo's substantial affordable housing portfolio, driving operational excellence and achieving ambitious social impact goals.

Who We Are

HELPDevCo (HELP Development Corp.) is a mission based nonprofit developer of affordable and supportive housing. To date, HELPDevCo has developed and/or operates close to 3,000 housing units across the country, which includes 30+ residential projects in New York, New Jersey, Nevada, Connecticut, Washington DC, and Pennsylvania.

Summary of Job Description:

Responsible for the Asset Management and Compliance for Permanent Housing apartment portfolio and overseeing the day-to-day third-party property management company. Additionally, this role will be integral in creating a new strategic vision for the organization.

Reports to:

President

Classification:

Exempt (Salaried) – Compensation includes base salary and benefits as outlined in the offer letter.

Essential Job Functions / Asset Management:

Financial Management

· Coordinate and participate in transition of housing projects from construction completion to property management operations.

· Liaison between property manager and HELPDevCo in the preparation of annual budgets, maximizing property performance, and streamline operations.

· Review and approve annual budgets prepared by the third-party management company.

· Review monthly financial and variance reports provided by property management company.

· Have monthly meetings with property management company to discuss any financial issues and property operations.

· Ensure rent increases and utility allowances are implemented annually and obtain necessary approvals.

· Monitor building performance, income, expenses, and compliance including violation removal and filing Local Laws.

· Evaluate current and long-term financial health and ensure the on-going financial sustainability of the properties including needed capital improvements.

· Assist VP of Facilities in the assessments of the physical condition of the properties

· Assist third-party social service providers with the implementation and support of social service initiatives and programs at the properties

· Coordinate with accounting invoice payments

· Have monthly meetings with property management company to discuss any financial issues and property operations.

· Oversee cash flow surplus distribution prepare required paperwork and submissions.

· Be the primary contact of investors/lenders to provide requested financial information and distribute financial reports on a regular basis.

Compliance/Compliance Reporting

· Provide required financial information to agencies.

· Oversee lease-up of projects and filing of RAC, HAPs

· Regular, periodic inspections of properties to ensure that they are meeting company high quality standards including HUD, HPD and other requirements.,

· Lender reporting

· Coordinate grant billbacks with property management

Qualifications

· Bachelor's Degree required in Real Estate, Urban Planning, Management, Accounting, or related fields.

Minimum 5 years of experience in Asset or Property Management of residential Affordable properties/Tax-Credit-Certification, preferred.

· Ability to perform financial analysis understanding budgets and other financial reports.

· Experience in agency compliance (knowledge of NYC a plus)

· Analytical person and resourceful and creative ideas and critical thinking.

· Understanding private and public debt financing, equity, and compliance reporting needs for typical affordable housing development projects, preferred.

· Ability to work well with a diverse group of professionals, excellent written and oral communications skills, and a can-do attitude is required.

· Comfort in a fast moving and sometime ambiguous environment.

We Have GREAT Benefits!

· Eligible for participation in a generous Incentive Plan based on performance indicators.

· Health insurance through Cigna, including dental and vision.

· Generous Paid Time Off!

· 401k with company contribution even if employee doesn't contribute.

· Tuition Reimbursement and Educational Achievement Awards for employees completing educational & certification milestones.

· Salary starting at $150,000

· Hybrid work environment, all remote for the right candidate

· And more!

EOE.

A Drug Free Workplace.