Senior Director of Asset Management - National Housing Trust

• Working with the Managing Director of Real Estate, develop and implement the operating strategy for NHT’s housing portfolio aligned with the organization’s strategic and business plans.
• Identify and develop goals for both asset management and property operations and establish annual performance benchmarks.
• Based upon ongoing review of management reports and staffing, audits, and third-party studies, identify potential problems and develop strategies and action plans to address such issues. Develop workout plans, as necessary, and monitor via watchlists
• Ensure AM team reviews each property regularly: physical plant, staffing, use of contractors, marketing, and operations. Identify ways to increase efficiency and performance. Establish performance measures and goals for each property as well as the entire portfolio. Monitor and improve performance indicators and benchmarks.
• Ensure AM team conducts site visits and inspections to evaluate the condition and upkeep of the asset, the capabilities of on-site staffing, and to assess the local market and competition.
• Initiate planning for short-term and long-term capital needs, considering the financial performance, reserves, and long-term plans for each property.
• Monitor trends within the Asset Management field to determine new software, methods, and ideas that will improve portfolio performance or departmental efficiency.
• Create and/or monitor exit strategy for each asset, including buy-out of investor interest, sale, and refinancing strategies.
• Create and/or monitor plans for Year 15 withdrawal of investors and annually review tax capital accounts and credits for each LIHTC property.
• Monitor trends in property markets to assist with portfolio strategies as well as a RED team in refinement of acquisition strategies.
• Act as an executive-level contact for lenders, investors, development partners, and bondholders for the portfolio, providing support and/or direction to asset managers to communicate effectively and manage positive relationships.
• Chair bi-weekly meetings held between AM team and real estate accounting team, setting the agenda and ensuring proper follow up via collaborative cross-team action.
• Participate in Internal Review Committee ("IRC") meetings regarding new acquisitions and developments to review project details [market conditions, operations, management companies, partnership, and loan documents, underwriting assumptions (rents, vacancy, expenses, etc.) and financial projections] and minimize deviation from NHT Development Standards. 
• Contribute to the creation of rehabilitation or recapitalization programs and management company selection processes.
• Oversee risk management procedures for the portfolio, monitoring incidents and potential claims. Work with property management firms and insurance broker to initiate programs to reduce risk across the portfolio. Manage insurance renewals and coordination of coverage. As necessary, evaluate the need for additional risk management strategies and additional enhancements.
• Provide strategic analysis of the portfolio to executive leadership and the NHT Communities’ Board of Directors.
• Other duties, as assigned.

• Oversee third party management companies. Negotiate new and renewing management contracts. Ensure that management companies are performing per contract and established benchmarks.
• Oversee management’s coordination of large capital expenditures.
• Participate in annual affiliate board (ownership entity) meetings.
• Continue to develop internal asset management systems including policy and procedure documentation, reporting, projections, and property performance evaluation tools. 
• Ensure AM team holds regular meetings with third-party managing agents to meet performance standards and goals, comparing actual results to budgets and discussing variances.

• Manage AM team to ensure that all facets of property operations comply with the requirements of loan/bond documents, use restrictions, investor agreements, etc., and all federal, state, and local requirements.
• Review monthly operating reports with AM team. Follow-up as necessary to ensure properties are meeting budget targets and benchmarks. Monitor property performance in comparison to budget, initial underwriting, and operation of similar properties. Present watchlist reports to IRC quarterly and Board of Directors twice annually.
• Review and approve annual operating budgets.
• Review property cash surplus calculations and waterfall distributions
• Ensure required reports are provided to lenders and investors.
• Monitor draws from replacement reserve accounts. Assist management companies in coordination of draw process with lenders/investors when appropriate.
• Ensure AM team and/or property management company files necessary organizational documents, licenses, permits, etc. for each property and ownership entity.

• In conjunction with RED team, monitor development efforts post-construction closing, which may include rehabilitation with tenants in place. 
• Work closely with the COI team to ensure needs of residents are being met and that necessary resources are available.
• Work with Finance and Accounting team to provide necessary information and documentation in support of property accounting and audit activities.
• Work with the Managing Director of Real Estate and CFO in the creation of the annual departmental budget.

• A minimum of a bachelor’s degree is required majoring in business, real estate, finance, or other related area. 
• Minimum of 10 years of experience in multifamily affordable housing asset management. Extensive experience in asset management, affordable housing/real estate development, financing, and LIHTC and HUD compliance. 
• Experience managing people and teams, with skill in balancing delegation with “hands-on” support.
• Passion for NHT’s mission, combined with the ability to deliver high-quality results.
• Ability to travel (~10% of time) for conferences and site visits including but not limited to automobile and air travel.  
• Excellent interpersonal, organizational and communications skills, including both verbal and written skills. Strong analytical skills including problem solving and conflict management.
• Strong computer aptitude skills, including knowledge of Microsoft Office Suite Programs.
• Excellent planning and organization skills, with a high level of attention to detail.
• Commitment to diversity, equity, and inclusion. 
• A collaborative approach and team orientation.
• Commitment to NHT’s mission, including a deep dedication to assisting low-income families. 

National Housing Trust (NHT) has been dedicated to creating and preserving affordable housing for almost 40 years. Our mission is to create and preserve affordable homes to provide opportunity, advance racial equity, reduce economic disparities, and strengthen community resilience through our integrated policy-plus-practice approach. We build, preserve, and finance affordable housing and use that expertise to inform and advance resident-focused solutions to strengthen the broader affordable housing industry.NHT has a staff of 50+ across five program areas: Policy, Lending, Real Estate Development, Community Outreach and Impact, and Energy Solutions. Our hallmark is our cross-functional, integrated approach to innovating, demonstrating, and amplifying solutions to the affordable housing crisis in the U.S.