THE WIDEWATERS GROUP Asset Manager - Multifamily Salary in the United States
How much does an Asset Manager - Multifamily make at companies like THE WIDEWATERS GROUP in the United States? The average salary for Asset Manager - Multifamily at companies like THE WIDEWATERS GROUP in the United States is $141,794 as of April 24, 2024, but the range typically falls between $103,802 and $179,786. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. View the Cost of Living in Major Cities
About THE WIDEWATERS GROUP
Browse other Companies in the Hospitality & Leisure Industry
View the widewaters group Salary
What does an Asset Manager - Multifamily do at companies like THE WIDEWATERS GROUP?
Benefits:
Asset Manager will also collaborate as necessary, with Widewaters representatives on regional investment activities, including due diligence efforts, investment market assessments and property underwriting assumptions, and Development and acquisition growth. He/she will be a member of the asset management team and will have a significant responsibility for, and impact on, the portfolio's financial performance.
Development/Oversight of Property Budgets and Financial Performance
- 401(k)
- 401(k) matching
- Competitive salary
- Dental insurance
- Employee discounts
- Health insurance
- Opportunity for advancement
- Paid time off
- Training & development
- Vision insurance
- Wellness resources
Asset Manager will also collaborate as necessary, with Widewaters representatives on regional investment activities, including due diligence efforts, investment market assessments and property underwriting assumptions, and Development and acquisition growth. He/she will be a member of the asset management team and will have a significant responsibility for, and impact on, the portfolio's financial performance.
Development/Oversight of Property Budgets and Financial Performance
- Coordinate with 3rd party property management team(s) to develop business plans by taking an active role in creation of annual operating and capital budgets.
- Establish oneself as the subject matter expert on property and market knowledge enabling the creation of targeted investment strategies to achieve strategic objectives.
- Provide oversight to ensure the implementation of the property business plan, create monitoring metrics, and communicate plan status.
- Analyze property financials and performance metrics highlighting risk and opportunities with recommendations to enable property value maximization.
- Assist with acquisitions, investor relations and special projects, as needed
- Assist in the development/monitoring of strategies to maximize asset portfolio value.
- Monitor and manage key performance indicators (KPIs) on each asset and collaborate with property management and creating action plans to address concerns, issues, and opportunities.
- Assist in developing Company process and procedures oversight 3rd party property management partners.
- Oversee 3rd party property management firms to ensure optimal property performance through best in class process and controls.
- Develop and implement a process for property inspections to insure continuous monitoring of property performance, execution of actions, consistency of quality and property capital plans.
- Serve as the primary interface for HUD REAC inspections and coordinate all necessary preparation and actions required for successful passing.
- Leverage monthly and quarterly financial statements, business intelligence software, and analytical tools to identify property and portfolio underperformance to budget and/or market benchmarks and collaborate with relevant team members and make improvement recommendations.to make necessary improvements.
- Provide recommendations and implement changes for property improvements based on thorough market analysis and competitive positioning.
- Incorporate a value-oriented approach to each asset by analyzing revenue opportunities and providing direction supported by financial models to justify major capital investments and financial decisions.
- In collaboration with leadership team, assess the capital needs/expenditures by property and develop a long-term capex plan for the portfolio that corresponds to stated strategy.
- Implement and monitor capital improvement projects.
- Financial and feasibility analysis, assisting in all phases of investment management. This will include feasibility studies and other research for potential investments, investment underwriting, due diligence, managing documentation, site visits and investment closings.
- Market, economic and demographic research to assist in evaluating markets for existing or potential investments.
- Assist in conducting due diligence and financial modeling for new acquisitions and dispositions.
- Identify and oversee repositioning opportunities. Monitor market trends for opportunities to add value through renovation, expansion or repositioning of the assets and make recommendations accordingly. Supervise scope development including: recommendations on rent premiums, cashflow maximization, and ongoing implementation to ensure achievement of ROI target.
- Financial modeling and analysis related to the monitoring of assets and preparing sell versus hold analyses.
- Ability to understand and interpret market trends, third party market reports, and operator market competitor surveys.
- Ability to define, develop, and execute asset management strategy, by leveraging and managing 3rd party property management teams.
- Familiarity with investment due diligence process along with the ability to provide local market asset performance assumptions and competitive intelligence.
- Ability to think and act strategically along with a track record demonstrating sound business judgment when delivering an asset’s peak market value.
- Strong negotiation, analytical and interpersonal skills are essential.
- Ability to effectively multi-task, while maintaining accuracy and quality of work product.
- Strong self-starter that thrives in a fast paced, dynamic environment with multiple and evolving priorities and deadlines.
- Ability to effectively problem solve and work both collaboratively and independently as warranted.
- Professional ability to communicate, facilitate presentations with owners, investors, bankers, government agencies, etc.
- Must demonstrate the highest level of professionalism, confidentiality, integrity, and respect with internal and external business partners.
- Build a strong, credible relationship with senior leaders, owners, managers third party professionals and other critical stakeholders; operate as trusted and subject matter expert.
- Ability to present data in a clear, concise, and professional manner to the level of understanding of the targeted audience.
- Asset management of existing portfolios of properties under construction, in lease-up or stabilized. This will include preparation and update of quarterly asset reports, preparation of property valuations, market research and analysis, and site visits.
- Conduct frequent physical inspections of each property in assigned portfolio to develop a thorough understanding of each property and its challenges, assess implementation of strategic initiatives, assess operational and management performance, and identify opportunities for improvement and communicate those opportunities among relevant internal and external teams.
- Become an expert on assigned markets through on-site visits, in-depth analysis of industry trends and economic drivers, and maintenance of industry network then collaborate with executives to implement adjustments to property strategy to account for market shifts.
- Participate in evaluating, and make recommendations for the implementation, of various new products and services intended to grow ancillary income, reduce operating expenses, or create operational efficiencies.
- Perform financial analysis and ensure budget to actual variances are favorable and/or identify solutions to correct deviations to plan.
- Forge strong relationships with vendors, site staff and leadership to work through challenges and communicate concerns internally/externally when expectations are not met.
- Travel required with short notice.
- Bachelor’s degree, preferably in Business, Finance or Real Estate.
- Five to seven years of Asset Management experience, preferably in multifamily real estate.
- Familiarity with general principles of real estate, including operations and analysis, budgeting and financial reporting.
Check out
Asset Manager - Multifamily
jobs in
Columbus, Ohio
Community Manager - Tax Credit
Edgewood Management Corporation - Cincinnati, OH
Acquisitions Associate - Multifamily (Semi-Remote)
Advice Personnel - Cleveland, OH
Fairstead Affordable Housing Career Fair - Thursday, June 13, 2024!
Fairstead - Cleveland, OH
Acquisitions Associate - Multifamily (Semi-Remote)
Advice Personnel - Columbus, OH
Understand the total compensation opportunity for Asset Manager - Multifamily at companies like THE WIDEWATERS GROUP, base salary plus other pay elements
Average Total Cash Compensation
Includes base and annual incentives
The chart shows total cash compensation for the THE WIDEWATERS GROUP Asset Manager - Multifamily in the United States, which includes base, and annual incentives can vary anywhere from $103,802 to $179,786 with an average total cash compensation of $141,794. Total compensation includes the value of any benefits received in addition to your salary and some of the benefits that are most commonly provided within a total compensation package including bonuses, commissions, paid time off, and Insurance. The total cash compensation may get paid differently by industry, location, and other factors.
Search Job Openings
About THE WIDEWATERS GROUP
The Widewaters Group is a diverse real estate development and management company that has extensive experience in the development of Retail, Hospitality and Office projects throughout the United States. For more than 30 years, Widewaters has built a reputation on a firm foundation of experience and financial strength. Leveraging our entrepreneurial instincts, capital and expertise, Widewaters will continue to develop and acquire commercial real estate in growing markets that demonstrate strong economic fundamentals with the potential to achieve superior financial returns. Because the world is
Are you an HR manager or compensation specialist?
Salary.com's CompAnalyst platform offers:
- Detailed skills and competency reports for specific positions
- Job and employee pricing reports
- Compensation data tools, salary structures, surveys and benchmarks.
Browse Asset Manager - Multifamily Jobs in Major Cities
Popular Jobs at THE WIDEWATERS GROUP
- Accounting Administrator at THE WIDEWATERS GROUP
- Accounting Clerk at THE WIDEWATERS GROUP
- Accounting Generalist at THE WIDEWATERS GROUP
- Accounts Payable Manager at THE WIDEWATERS GROUP
- Asset Manager - Multifamily at THE WIDEWATERS GROUP
- Assistant Controller at THE WIDEWATERS GROUP
- Director of Accounting at THE WIDEWATERS GROUP
- Facilities Manager at THE WIDEWATERS GROUP
- HRIS Analyst at THE WIDEWATERS GROUP
- Human Resource Generalist at THE WIDEWATERS GROUP
- IT Analyst at THE WIDEWATERS GROUP
- Learning and Development Specialist at THE WIDEWATERS GROUP