WNC & Associates · 19 hours ago
Stabilized Asset Manager
United States
Full-time
Remote
Mid Level
$115K/yr - $135K/yr
3+ years expWNC & Associates is an established, dynamic and rapidly growing real estate investment company that has provided affordable housing nationally since 1971. The Asset Manager will oversee a portfolio of Low-Income Housing Tax Credit (LIHTC) multi-family properties, ensuring operational oversight, financial analysis, and compliance to enhance asset performance.
Financial ServicesReal Estate
Responsibilities
Oversee a portfolio of approximately 65 stabilized LIHTC properties
Oversee, analyze, and report on financial performance; monitor budgets (compared to actuals) and review occupancy levels (rent rolls) as necessary, or in the case of Watchlist/Workout properties, monthly, according to specified benchmarks
Monitor overall operational performance of regional portfolio and communicate progress and issues with Watchlist/Workout properties on an ongoing basis
Evaluate property management performance as required
Conduct all necessary annual site visits (including tracking those outsourced). Concerning properties must be visited more regularly; stabilized properties are to be visited annually or as reflected in the partnership agreement
Work closely with third party property managers and leasing agents to provide direction for and oversight of business plans, budgets, forecasts, leases, analysis, and approvals
Maximize total return for each assigned asset through the analysis of property efficiencies and identifying opportunities for improved performance
Evaluate and monitor LIHTC compliance and other risk factors quarterly, or as needed
Review partnership agreements, regulatory agreements, financing documents and other sources to determine enforceability of terms, financing structures and constraints, as needed
Review year-end financial audits for respective LIHTC partnerships
Analyze quarterly and annual property performance compared to budget and underwriting, and report quarterly to investors through Fund Management
Ascertain and work to resolve issues through collaboration with general partners, property managers, internal committees, lenders, and governmental/regulatory entities
Forecast and analyze benefit streams of lower tier partnerships for Fund Management and Accounting
Management and collection of the partnership asset management fees and cash flow distributions (or Return-to-Owner obligation)
Monitor reserve balances and oversee requests for release of replacement and operating reserves
Review and process investor capital calls and lower tier capital contributions
Complete a monthly report for concern properties determined to be at risk. Identify issues such as under-funded reserves and significant variances in income and expense lines as compared to the approved budget
Develop and distribute periodic asset management reports to investors, consultants, and other partners. Complete ad hoc assignments and/or projects required by the Asset Management Department
Qualification
Required
Candidates must have strong financial analysis skills
Must have strong computer skills and thorough knowledge of Outlook, MS Word and Excel
Must have excellent communication and organizational skills
Must be proactive and can multi-task and work in a fast-paced deadline driven environment
Exhibit attributes that serve our mission and values: Quality, Responsibility, Integrity, Teamwork and Respect
Bachelor's degree in finance, or Accounting
Minimum 3+ years of experience working in the affordable housing sector doing accounting work or financial analysis, and/or:
3+ years of experience in real estate and/or multi-family housing as an asset manager with stabilized and/or special assets portfolio
Experience required in LIHTC
Preferred
Knowledge of multi-family real estate operations, including property management; marketing and leasing; budgeting; capital needs planning; financial reporting and compliance with financing covenants or regulatory agreements preferred
Benefits
Medical
Dental
Vision insurance
Paid time-off
401k match
Life insurance
Long-term disability
Company
WNC & Associates
WNC & Associates is a real estate investment company based in California.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Melanie Wenk
Chief Operating Officer
Anil Advani
Senior Vice President - Originations
Recent News
Hartford Business Journal
2026-01-09
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