Metropolitan Development Group LLC · 2 days ago
Senior Asset Manager
Vienna, VA
Full-time
Onsite
Senior Level, Lead/Staff
15+ years expMetropolitan Development Group is seeking an experienced Asset Manager to oversee the operational and financial performance of their residential portfolio. This role will ensure that each property achieves its financial goals and operates efficiently while aligning with ownership’s long-term strategic objectives.
Real Estate
Hiring Manager
Maurizio Onetti
Responsibilities
Review leasing activity, renewals, rental rates, and operating expenses
Conduct weekly meetings with property management companies and site staff to review performance
Approve major project requests in accordance with budget
Develop new leasing and marketing strategies to drive occupancy and revenue
Identify and implement expense-saving opportunities
Report weekly activity and performance updates to ownership
Review accounts receivable and payable biweekly, approving payments to ensure smooth operations
Stay informed on market conditions impacting existing properties
Review monthly financials and variance reports with management teams
Identify savings opportunities and forecast future expenses to stay within budget
Monitor cash positions to ensure annual cash flow goals are met
Complete internal executive reports and market studies; distribute to ownership
Conduct monthly performance meetings with ownership and management companies
Visit each property quarterly (or every other month) to assess asset quality and operations
Meet with on-site management and review ongoing or needed capital projects
Evaluate market trends for each property
Review quarterly preventative maintenance reports with management
Lead the annual budgeting process and recommend improvements based on prior performance
Ensure budgets align with company financial goals before submitting for ownership approval
Prepare and submit annual financial reports to banks and financial institutions
Oversee audits for HUD-financed properties, ensuring timely and accurate completion
Review property insurance renewals and confirm adequate, cost-effective coverage
Ensure all property inspections (including HUD REAC) are scheduled and reported
Oversee annual ownership cash distributions per waterfall guidelines
Review and assist with 5-year capital expenditure planning
Ensure all required leasing licenses are renewed on schedule
Identify and evaluate new acquisition or development opportunities
Conduct market research for potential new property locations
Collaborate with the Construction Manager and Financial Advisor on current projects and operational planning
Maintain relationships with HOA boards for assigned properties
Manage transitions between management companies, ensuring accurate setup and reporting
Maintain strong communication and relationships with HUD and financial institutions
Qualification
Required
Bachelor's degree in Real Estate, Finance, Business Administration, or a related field
15+ years of experience in asset management, real estate finance, or multifamily property operations
Strong knowledge of property management, financial reporting, and budgeting
Can come up with strategic approaches to mitigate risk in real estate investments as well as forward thinking to create value-add strategies for existing properties
Excellent analytical, organizational, and communication skills
Proficient in property management and financial reporting software like Yardi and/or OneSite as well as Microsoft Suite
Ability to travel regularly to property sites as well as potential new projects throughout the Mid-Atlantic, Northeast and Southwest Regions
Preferred
Master's degree
Experience with HUD-financed properties and compliance requirements
Compliance and Regulatory Knowledge (HUD preferred)
Company
Metropolitan Development Group LLC
Established in 2004, Metropolitan Development Group LLC is leveraging the design, development and management expertise of its principals to create the highest quality living environments for its customers.
2-10 employees
Funding
Current Stage
Early StageCompany data provided by crunchbase