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Fort Worth Housing Solutions · 3 days ago

Vice President Asset Management

Fort Worth, TX

Full-time

Hybrid

Director/Executive

10+ years exp

Fort Worth Housing Solutions is seeking a Vice President of Asset Management to oversee the fiscal accountability and operational performance of their multi-property residential portfolio. The role involves managing the Asset Management department, implementing efficiency strategies, and ensuring compliance with regulations.

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Responsibilities

Manages, plans, and coordinates the activities of the Asset Management department, including all aspects of administration, budgeting, maintenance, and customer relations

Defines objectives and executes strategy for each asset including leasing, operations, and/ or capital improvements

Establishes and maintains property operation benchmarking including revenues, expenses, net operating income (NOI), return on investment, and cash flow and distribution analysis

Maintains a detailed understanding of factors affecting various markets and submarkets associated with portfolio and monitors market trends in value, cost, and supply/demand fundamentals

Conceptualize, implement and execute value-add strategies, including expense reductions, revenue optimization, , lease expiration management, asset repositioning, asset refinancing and hold/sell/recapitalization recommendations

Assist in managing the debt financing, refinancing, and asset dispositions

Establishes and oversees processes related to property reserves, makes recommendations for withdrawals as needed

Leads all aspects of budgeting, financial forecasts and adjustments to business plans across portfolio

Understands competitive positioning relative to rents, lease terms and overall occupancy

Maintains property specific compliance with loan documents and equity agreements

Oversees leasing and marketing plan for properties including lease up projections, estimated tenant improvement costs, marketing methods and prospect plans

Directly responsible for oversight and performance of FWHS asset managers, Facilities Coordinators, and various contractors

Evaluates the department’s performance by developing private sector standards, reviewing, and monitoring departmental business plans, attending meetings, and analyzing performance reports

Conducts quarterly internal asset valuations for all properties

Ensures accurate reporting, timely data production and audit support

Monitors maintenance and management activities of FWHS housing units to ensure decent, safe, and sanitary housing for FWHS residents

Ensures departmental compliance with applicable local, state, and federal regulations

Regularly meets with the Development Department to assess current needs

Prepares monthly, weekly, and special reports for submission to the President, Board of Commissioners, other departments, and HUD

Develops plans, specifications and cost estimates and plans for repairs associated with the maintenance of FWHS’ real estate assets

Stays abreast of public housing matters, tax credits developments, and opportunities by studying HUD regulations, laws, ordinances, and publications and by attending professional conferences, training, and meetings

Perform other duties as assigned

Qualification

Multifamily asset managementBudget preparationFinancial managementReal Estate knowledgeMarketing strategiesAnalytical skillsNetworkingMicrosoft OfficeDecision-makingCommunication skillsLeadership

Required

Bachelor's degree in Real Estate, Business, Finance, or related field from an accredited college or university

Must possess a current Texas Driver's License, have a driving record in good standing, and be eligible for coverage under FWHS's fleet vehicle insurance policy

Minimum ten (10) years' experience in multifamily asset management; affordable experience preferred

Minimum five (5) years' direct management experience

Proven track record of improving portfolio operations, including business plan development, execution and value creation

Experience designing and improving asset management processes and systems

Strong decision-making skills with the ability to think and act like an owner

Analytical approach with a results-oriented mindset

Knowledge of marketing strategies, processes, and available resources

Knowledge of applicable laws, regulations, standards, policies, and procedures within specific programs

Experience in budget preparation and fiscal management

Knowledge of the low-income housing tax credit and tax-exempt bond programs

Ability to communicate clearly and concisely, orally and in writing

Ability to manage multiple priorities and multiple demands to accomplish tasks according to established requirements; anticipate potential problems and initiate appropriate corrective action

High degree of personal motivation; strong work ethic

Ability to maintain a strong network of internal and external relationships to support organizational goals

Ability to prepare and present ideas in English, in a clear and concise manner, both orally and in writing

Must pass a pre-employment drug screening and criminal background check

Must possess above-average skill with Microsoft Office suite of products and be capable of using internet resources for research and developing reports

Ability to learn other computer software programs as required