Weingart Center, a 501(c)(3) nonprofit agency headquartered in Downtown Los Angeles (DTLA) providing services to individuals experiencing homelessness, is hiring for an ASSET MANAGER. Under the direction of the Senior Real Estate Development Director, the Asset Manager will assess Weingart Center Association’s (WCA) properties to ensure they are financially sound and comply with contractual, regulatory, and statutory requirements.
This position will manage the third-party Property Management Agent and will also collaborate with all WCA departments including Executive, Real Estate Development, Accounting, and Resident Services in protecting its assets and optimize property performance. Furthermore, the Asset Manager will stay abreast of industry trends and financial opportunities to position WCA to be a sustainable organization and a leader in the field of Permanent Supportive Housing.
This is an on-site, in-office position. Weingart Center requires position incumbent to be fully vaccinated against COVID-19 as defined by CDC.
ESSENTIAL FUNCTIONS INCLUDE, but are not limited to the following:
- Oversee and manage third-party management agent to ensure high quality and on-budget operations.
- Utilize systems such as accounting systems to enhance WCA’s real-time reporting and analytical capabilities.
- Obtain leadership approval for certain property expenditures.
- Develop reports and/or a dashboard to analyze the performance of WCA’s portfolio.
- Make presentations to WCA leadership.
- Manage all regulatory and compliance submissions, and monitor and validate compliance with lender, investor, government funders, and with regulatory agreements and funding requirements.
- Contribute to the resolution of operation issues or concerns, including the submittal of replacement and operating reserves for approvals and follow-thru for transfer of funds.
- Facilitate responses to government and/or lending agencies.
- Lead in the annual budgeting process for each property.
- Complete and monitor annual Welfare Tax Exemption preparation, filing, and follow-through (billings).
- Create and implement plans for Limited Partners to exit properties financed with Low-Income Housing Tax Credits (LIHTC).
- Contribute to decisions regarding maximizing property cash flow and fees paid to WCA.
- Work closely with on-site resident services staff and resident services leadership to ensure.
- Other related duties as required.
REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES:
- Relevant experience in multi-family property management for a general or limited partner.
- Specific knowledge of affordable programs, such as IRS Section 42 (LIHTC), HUD, LAHD, LACDA, HCD, HACLA, FHLB, and CDLAC.
- Previous experience must include responsibilities for understanding property budgets, variance analysis, capital improvement plans, investor and lender reporting requirements.
- Detailed knowledge of and ability to interpret legal documents such as loan documents, limited partnership agreements, regulatory agreements and agreements for the provision of residents.
- Experience with accounting software preferred.
- Advanced Microsoft Excel skills.
- Able to render and act upon an opinion decisively and yet be flexible in eliciting other opinions.
- Able to interact with all levels of organization, agencies, and tenants with the correct perspective ranging from prudence to compassion.
- Excellent verbal, written and organizational skills.
- Self-motivated and hard worker.
- Ability for occasional car travel to properties in Los Angeles County (no high-desert properties) to visit properties in the WCA portfolio; air travel to conferences and trainings will also be required.
- A team-player who is able to work independently.
REQUIRED EDUCATION/TRAINING AND EXPERIENCE:
- Bachelor’s Degree preferred.
- Three to five (3-5) years of relevant job experience preferred.
- Familiarity with non-profit multi-funded organization desirable.
EMPOWERING AND TRANSFORMING LIVES. Weingart Center is a 501(c)(3) nonprofit agency headquartered in Downtown Los Angeles (DTLA) that provides individuals experiencing homelessness with essential tools necessary to stabilize their lives, secure income, and find permanent housing. Our mission is to empower and transform lives by delivering innovative solutions to break the cycle of homelessness.
The policy of the Weingart Center Association (WCA) is to provide equal opportunity and equal consideration to all peoples without regard to race, religion, ancestry, national origin, sexual orientation, sexual identity, color, creed, sex, age, or physical disability. WCA is an "equal opportunity employer." WCA will not discriminate and will take measures to ensure against discrimination in employment, recruitment, and advertisements for employment, compensation, termination, upgrading, promotions, and other conditions of employment against any employee or job applicant on the basis of race, creed, color, national origin, or sex, age or physical disability.
To find out more, please visit www.weingart.org
Job Type: Full-time
Pay: $90,000.00 - $115,000.00 per year
Benefits:
- Dental insurance
- Employee assistance program
- Flexible schedule
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Parental leave
- Retirement plan
- Vision insurance
Schedule:
- 8 hour shift
- Day shift
- Monday to Friday
People with a criminal record are encouraged to apply
Ability to commute/relocate:
- Los Angeles, CA 90021: Reliably commute or planning to relocate before starting work (Required)
Application Question(s):
- What is your salary requirement?
Education:
Experience:
- non-profit affordable or multi-family housing: 3 years (Preferred)
- affordable programs (LIHTC, HUD, LAHD, etc.): 3 years (Preferred)
- multi-family property management: 3 years (Preferred)
Work Location: In person