Job Description
PRINCIPAL OBJECTIVE
The Director of Asset Management is responsible for leading the financial and operational performance of a multifamily real estate portfolio across multiple markets. This role bridges strategic oversight and hands-on asset performance management—designing and executing asset strategies, maximizing portfolio value, and providing leadership to Asset Managers and cross-functional teams.
REQUIREMENTS
Training/Education
- Bachelor’s degree in Finance, Real Estate, Business, Economics, or related field
- MBA or Master’s in Real Estate preferred
- 5–7 years of multifamily asset management experience
- 7–10 years of progressive multifamily property or portfolio management experience
- Institutional investment or private equity experience preferred
- Advanced proficiency in Microsoft Office; Yardi/modeling software preferred
Experience/Skills
- Proven experience in financial concepts, analysis and projections including ROI, IRR and discounted cash flow modeling
- Strong experience in budget planning, high level financial reporting and profit and loss responsibility
- Excellent understanding of multifamily real estate markets, trends, and best practices
- High degree of knowledge of property operations, contracts, leases, leasing objectives, and capital expenditures
- Exceptional communication and presentation skills, with the ability to effectively convey financial concepts to both internal and external stakeholders
- Proactive and results-oriented mindset, with the ability to identify opportunities and drive initiatives to enhance asset performance and investor value
- Strong knowledge of real estate investment principles, financial analysis, and market dynamics
- Knowledge of relevant regulations, laws, and compliance requirements within the real estate industry
- Excellent computer skills, with emphasis on Microsoft Office, Excel. Yardi and modeling software a plus
ESSENTIAL FUNCTIONS
Portfolio Oversight:
- Oversee the performance of a diverse multifamily portfolio across multiple states and property types.
- Partnering with Senior Leadership, develop and implement comprehensive asset management strategies to optimize property performance and increase returns.
- Conduct regular property inspections and analyze financial reports to assess property performance, identify areas for improvement, and make strategic recommendations.
Financial Analysis and Reporting:
- Perform financial analysis, including budgeting, forecasting, and variance analysis, to ensure financial goals and objectives are met.
- Evaluate and analyze market trends, rental rates, and competitor performance to evaluate pricing strategies and growth opportunities provided by property management
- Prepare comprehensive reports and presentations on property performance, financial metrics, and investment opportunities for senior management and investors.
Stakeholder Management:
- Build relationships with leasing and property management teams to promote partnerships and problem solving
- Build and maintain strong relationships with external stakeholders, including property management companies, brokers, vendors, and legal counsel.
Capital Expenditure and Asset Enhancement:
- Partner with Property Management to develop and execute capital expenditure plans to enhance property value, improve resident experience, and ensure compliance with industry standards and regulations.
- Evaluate and oversee renovation, rehabilitation, and repositioning projects to increase property performance and attractiveness.
- Monitor construction progress, budget adherence, and quality of work to ensure successful project completion and partner with construction and property management as issues arise.
Risk Management and Compliance:
- Identify and mitigate potential risks and liabilities associated with the multifamily portfolio.
- Ensure compliance with all local, state, and federal regulations, including fair housing laws, building codes, and environmental regulations.
- Other responsibilities and projects as assigned
- Occasional travel to assigned portfolio(s)
Job Tags
Work at office, Local area