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FT job - Berkeley CA - Resources for Community Development - Asset Manager

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  • asha.weinstein@sjsu.edu
    ... Job Title: Asset Manager Organization: Resources for Community Development Location: Berkeley Salary: FT Regular Job Description: Founded in 1984,
    Message 1 of 1 , Oct 18, 2006

      ----- Forwarded by Asha Weinstein/SJSU on 10/18/2006 02:49 PM -----

      Job Title: Asset Manager
      Organization: Resources for Community Development
      Location: Berkeley
      FT  Regular

      Job Description:
      Founded in 1984, Resources for Community Development (RCD) is a regional nonprofit housing developer working throughout Alameda, Contra Costa and Solano Counties.  It is our mission to create and preserve affordable housing for people with the fewest options to build communities and enrich lives.

      RCD’s property portfolio consists of over 1000 affordable housing units in 12 cities and 3 counties throughout the East Bay Area.  RCD is currently involved in several exciting major projects and has several hundred units in predevelopment.  RCD builds new and acquires and rehabilitates housing for low-income families, seniors, and households with special needs.  All of RCD’s portfolio is managed by third party property management companies.

      Duties & Responsibilities
      The Asset Manager, under the direction and supervision of RCD’s Director of Asset Management, will have responsibility for a full range of asset management activities relating to affordable multifamily housing development projects.  Specific responsibilities include (but are not limited to):

      Financial Management of Portfolio
      • Conduct monthly financial performance analysis of properties in Manager’s portfolio
      • Develop annual operating budget for each project
      • Closely monitor key assets of each project, incl. reserves and cash
      • Monitor long-term financial health of properties, including compliance with financial performance tests and capital accounts
      • Restructure/refinance a project where necessary

      • Ensure compliance with all relevant legislation , ordinances, and regulatory requirements
      • Ensure compliance with all contractual agreements including regulatory agreements, partnership agreement, financing agreements and subsidies program requirements
      • Ensure compliance with all tenancy income and rent limitations
      • Liaise with regulatory bodies, government agencies and funders where necessary
      • Ensure timely completion and filing of all required regulatory and financial reports
      • Conduct periodic site visits and file reviews

      Managing Property Management Companies
      • Negotiate and administer management agreements
      • Monitor performance of management companies
      • Issue instructions, approve budgetary/contractual exceptions & provide feedback and counsel where appropriate

      Participation in Development of Projects
      • In conjunction with Development, ensure successful and timely lease-up of newly-completed projects
      • Provide feedback on project designs for project in development
      • In conjunction with Finance, develop pro forma operating budgets for projects in development

      • Provide assistance where appropriate to other departments of RCD, including facilitating the completion of annual audits and the delivery of required tenant services


      Applicants should have a Bachelor’s degree in a related field and/or three plus years experience in affordable/real estate asset management, development and/or financing of multifamily housing.  Position requires strong knowledge of affordable housing real estate development, affordable housing funding programs, real estate finance, & construction. Applicant should have experience and/or demonstrated abilities in the following areas:

      • Preparation and analysis of pro-forma financial spreadsheets and other relevant financial and physical analyses of low income
      multifamily housing developments

      • Thorough working knowledge of federal, state, local and private financing sources and low income housing programs, including low income housing tax credits

      • Initiation and maintenance of effective, cooperative working relationships with public and private lenders, private management companies, social service providers, other nonprofit organizations and low income tenants

      • Clear and effective verbal and written communications

      How to Apply:
      Application Procedure and Salary

      Applicants should send or e-mail cover letter, resume, AND salary requirements to:

      Resources for Community Development
      Asset Manager Position
      2730 Telegraph Avenue
      Berkeley, CA 94705
      Attention:  Director of Asset Management

      Please include “Asset Manager Position” in the subject line of the email.

      Applicants with suitable experience and/or skills will be contacted for interviews.  Compensation and benefits are highly competitive; the salary will be commensurate with experience.  RCD offers excellent benefits including paid vacation and sick leave; health, dental, vision, life and long-term disability insurance; chiropractic/acupuncture coverage; and employer contributions to a retirement savings plan.

      This position will be open until filled.

      No calls please. EOE/AA.


      Organization Web Site: www.rcdhousing.org
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