Bear Real Estate Group · 3 days ago
REAL ESTATE ASSET MANAGER
Kenosha, WI
Full-time
Onsite
Senior Level
5+ years expBear Real Estate Group is seeking a detail-oriented and driven Asset Manager to oversee the performance of their portfolio of workforce and market-rate housing developments. The role involves monitoring key performance tracking, collaborating with third-party property management firms, and ensuring compliance with various housing programs and financial metrics.
ConstructionProperty ManagementReal Estate
Responsibilities
Serve as Owners representative for all multifamily properties that are manages by third-party property management companies. This property set includes properties that have HUD involvement by way of Section 8 housing assistance payment (“HAP”) contracts (i.e. RAD, PBRA, RAB PBV, project based Section 8) as well as state housing agency oversight through the low income tax credit (“LIHTC”) program
Monitor outcomes of HUD and LIHTC reviews (e.g. MORs, NSPIRE inspections, and HUD/CA audits); ensure corrective actions are completed by management agents
Track and monitor all Section 8 HAP contracts for annual renewals to ensure timely action
Oversee annual rent adjustment processes for Section 8 HAP contracts, ensuring the property management companies follow HUD protocols for rent increases, utility analyses, and utility allowance implementation
Analyze operating performance versus approved operating budgets to identify risks or variances and escalate concerns
Collaborate with ownership and investors on HUD and LIHTC compliance and performance updates
Oversee replacement reserve funding, replacement planning, and capital expenditure needs across sites
Develop performance benchmarks and hold management companies accountable through scorecards, KPIs, and contract reviews
Provide recommendations to ownership regarding property management company contract renewals, corrective actions, and performance issues
Evaluate key performance indicators (KPIs), including occupancy, rent growth, expense control, and delinquency
Benchmark performance against internal portfolios and industry standards
Qualification
Required
Ability to work collaboratively and independently on multiple projects
Excellent interpersonal, written, and oral communication skills
Ability to solve practical and complex problems by utilizing internal and external resources
Advanced skills in Microsoft Excel and Real Page Asset Investment Management, Power Business Intelligence, or Revenue Management is a plus
Bachelor's degree in business, finance, real estate, or related field
5+ years of experience in multifamily housing, with specific experience in LIHTC and HUD multifamily housing asset management
Knowledge of HUD 4350.3, RAD PBRA/PBV, Section 8 programs, MORs, NSPIRE inspections, and HUD contract management (HAP/CHAP, rent adjustments, OCAF)
Experience overseeing or working with third-party management companies
Strong financial analysis, reporting, and communication skills
Preferred
COS, HCCP, CPM, BOMS or similar industry certifications preferred
Benefits
401(k) with company match, plus annual merit-based increases
Comprehensive medical, dental, vision, life insurance, Long-Term Disability, and FSA and HSA options.
Generous paid time off and 8+ paid holidays.
Short Term Disability, Accident, Critical Illness, and Hospital Indemnity.
Ongoing education, leadership training, and advancement opportunities across all departments.
Annual employee appreciation events, team outings, and company-wide recognition programs.
Eligible for performance-based bonuses and commissions
Company
Bear Real Estate Group
With roots dating back to 1924, Bear prides itself on its rich history of providing innovative solutions to complicated real estate developments.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
S.R. Mills
Chief Executive Officer
Jonah Hetland
Chief Operating Officer
Recent News
Business Journals
2024-04-03
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