Asset Manager

Job Title: Asset Manager
Reports to: VP & Chief Community Development Officer
Status: Full-time (32-40 hours/week)

WHAT WE DO

Our Mission: The mission of Casa Familiar is to enhance quality of life for people living in underserved and underrepresented communities.

Our Vision: We envision healthy, just, and sustainable communities that reach our full potential.

Our Core Values:

· Integrity – honesty, equity, inclusivity, and leading by example.

· Respect – respect for self, elders, and others, and respect and care of land and environment.

· Familia – familia first, traditions, uplift diminished voices.

· Culture & Community – love, support, and accountability, building community, transborder culture.

· Collaboration – partnering with residents to enhance quality of life, cultivating relationships.

Founded in 1973, Casa Familiar (Casa) is a community-based organization dedicated to serving residents in the South County area of San Diego. As the leading social service and community development organization in San Ysidro, our dynamic team of 70 staff members and 50 volunteers provide over 40 bilingual programs and services across six different sites in San Ysidro, Barrio Logan, National City, and Chula Vista. Our greatest strength is community, and we make sure that the community remains at the center of our work. With a $7.9M annual operating budget, our programs and services are having a lasting impact on our community for generations to come. Last year, we proudly served over 20,000 individuals and families.

About this Position
The Asset Manager is responsible for overseeing all aspects of Casa’s real estate portfolio with an eye toward ownership on a long-term basis. This includes representing Casa’s ownership interests as well as maintaining the real estate assets themselves. That portfolio includes housing projects and community facilities and is comprised of properties financed with diverse funding sources including: Casa’s equity; investor equity through use of Low-Income Housing Tax Credits (LIHTC); US Dept. of Housing & Urban Development (“HUD”) HOME Funds; local redevelopment funds; HUD Section 8 Housing Assistance Contracts; 501(c)(3) bonds; New Markets Tax Credits; term loans, and other affordable housing financing. The position serves as the primary contact for investors, lenders, and regulatory agencies for the purpose of compliance and reporting. The position interfaces closely with Casa Familiar’s Accounting Department and Housing Development Department.

Real Estate Portfolio: Casa’s housing portfolio consists of eight affordable multi-family complexes, with a total of approximately 1,000 affordable housing units predominantly located in the southern portion of San Diego County. Its portfolio includes several large affordable housing complexes in which Casa is the managing general partner of a partnership that includes for-profit developers. Casa also has a handful of smaller affordable housing complexes for which it is the sole owner. Casa also operates several community facilities includes office space, recreational facilities including a large gymnasium, a community kitchen, exercise center, mart gallery, and a small performing arts center—all of which are located in the San Ysidro community in San Diego County. Casa either owns these facilities or leases them on a long-term basis from the City of San Diego.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Property Management Oversight and Property Performance – 30%

• Provide direct oversight of third-party property management contracts, including negotiating contract terms, and preparing and modifying policies
• Evaluate property management performance against benchmarks to ensure optimum property performance and compliance with regulatory agreements and loan covenants.
• Conduct site inspections to determine the physical condition and results of property management activities
• Manage cash flow tracking systems, analyze performance against annual operating budgets, research variances, and implement operational changes
• Build annual operating budgets for these real estate projects as a part of Casa’s budget process
• Develop and maintain replacement reserve analyses for the portfolio, and process replacement and operating reserve draws
• Oversee Income qualification of tenants as well as establishment of rent levels based on the market and restrictive covenants on the properties.
• Ensure property tax exemptions with the County of San Diego on all the applicable properties.
• Compliance and Reporting – 30%
• Ensure compliance with all income and rent restrictions for all properties.
• Provide oversight of the preparation and submission of required compliance reporting
• Manage property files, loan documents, partnership agreements, operating manuals, and property management plans.
• Maintain a preventive maintenance program for all properties to ensure cost effectiveness in preserving the real estate assets.
• Develop, provide, and present reports, performance dashboards and other similar materials as required by various stakeholders.
• Maintain effective relationships with community and industry groups, including partners, investors, lenders and regulatory bodies.
• Work with the Finance Department to review and deliver audits to required parties

Oversight of In-House Property Management (30%)

• Casa has seven residential properties which it directly manages. And expects that number to grow to about ten properties in the near future.
• Directly oversee property managers and their on-sight performance.
• Oversee the documentation of all rental contracts with tenants and the maintenance of tenant files.
• Oversee vender relationships for outside maintenance and repair contracts.
• Prepare Property management plans as needed.

Collaboration with Housing Development Department (5%)

• Work in collaboration with Housing Development staff as properties transition from the development stage to project stabilization
• Work in collaboration with Housing Development Department and/or Property Management Company to resolve any construction defect litigation and other litigation
• Develop Asset Management Plans for units under development
• Assist with developing operating budgets for new and rehabilitated developments

Other Duties (5%)

• Participate in various external working groups dedicated to community development and/or asset management
• Compile required data and submitted annual tax exemption applications for Casa Familiar.
• Annually review and renew property insurance coverage with broker
• Other duties as assigned

Supervision: This position is expected to oversee a staff of approximately two to four people. This position is also the main point of contact for the property management agent’s for the two large housing projects, professional services consultants, limited partners, lenders, investors, etc. This position reports to the Chief Financial Officer of Casa Familiar.

SKILLS, EXPERIENCE, AND EDUCATIONAL REQUIREMENTS:

• Minimum of 3 years’ experience in rental housing and asset management with a background in affordable housing preferred. A Bachelor’s degree in business, real estate or finance may be substituted for experience.
• Property Management knowledge or experience for affordable housing.
• Computer Proficiency in Word, Excel, and Outlook
• Excellent oral and written communication skills
• Ability to read, interpret, and present financial data
• Ability to effectively prioritize tasks and work independently
• Ability to handle sensitive and confidential information
• Ability to work with diverse cultures and aptitudes
• Ability to supervise and motivate staff
• Basic knowledge of building methods
• Reasonable Knowledge of California real estate, real estate finance and landlord-tenant law
• Bilingual English/Spanish preferred

· Valid California driver’s license and regular availability of an insured vehicle for travel within the San Diego County area.

SALARY:

The starting salary range is: $55,000-65,000 depending on experience.

Other duties as assigned by the CFO and CEO.
Currently, this is in-office position, following health and safety guidelines.

Additional
This position requires sitting at a desk or workstation, walking, standing, climbing stairs, hearing, speaking, being able to lift to 25 lb. and able to drive to the bank and do other errands pertaining to organizational operations. A background check is required. In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire. This is a full-time, non-exempt position with occasional work responsibilities on weekends and/or evenings depending on the season calendar.

To Apply
To apply, please send an email with a current resume and thoughtful cover letter. We will begin reviewing applications immediately; position is open until filled.

Schedule:

• Day shift (8am-5pm); varied work hours dependent on business need.

Company's website:

• www.casafamiliar.org

Job Type: Full-time

Pay: $55,000.00 - $65,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible schedule
• Health insurance
• Life insurance
• Paid time off
• Professional development assistance
• Vision insurance

Schedule:

• Monday to Friday
• On call

Application Question(s):

• How many years of project management experience do you have?

Education:

• Bachelor's (Required)

Experience:

• Accounting: 3 years (Required)
• Microsoft 365: 3 years (Required)

Language:

• english and spanish (Required)

Work Location: In person

Salary : $55,000 - $65,000