Home Asset Management Officer

Idaho Housing And Finance Association - Boise, ID

Full-time - Senior

Boise, ID

Real Estate

About the position

The Home Asset Management Officer at the Idaho Housing and Finance Association plays a crucial role in enhancing the quality of life for Idaho residents through effective asset management and financial oversight. This position is dedicated to managing a diverse portfolio of properties, ensuring compliance with federal regulations, and supporting the strategic goals of the organization. The officer will be responsible for conducting financial reviews of HOME and TCAP Exchange properties, preparing and presenting detailed performance reports, and analyzing budgets and cash flow trends. This role requires a deep understanding of the long-term strategic plans for each property, as well as the ability to adapt to changing market conditions and operational needs. In addition to portfolio management, the Home Asset Management Officer will direct and advise property management companies, ensuring that each asset is positioned effectively to achieve its financial goals. The officer will collaborate with compliance staff to develop standardized reporting procedures and will monitor lease-up progress and reserves. A significant aspect of this role involves market analysis, where the officer will track trends and economic variables that impact the assigned properties. The officer will also conduct physical inspections to ensure properties meet the required standards and will stay updated on federal regulations affecting the housing sector. Community relations and teamwork are essential components of this position. The officer will maintain positive relationships with internal and external stakeholders, ensuring compliance with IHFA policies and representing the organization professionally. The role may also involve special programs analysis, including oversight of public charter school facilities and revolving loan funds, requiring the officer to review applications and provide recommendations. Overall, this position is integral to the mission of the Idaho Housing and Finance Association, contributing to the development and sustainability of housing opportunities in Idaho.

Responsibilities

• Conduct financial reviews of HOME and TCAP Exchange properties' quarterly and annual reports, including income statements and balance sheets.
• Monitor operating expenses, capital replacements, capital needs, reserve accounts, and debt service.
• Prepare and present portfolio performance reports as required.
• Conduct annual budget analysis, cash flow trend analysis, reserve burn rate analysis, and operating cost analysis.
• Review audits prepared by independent auditors and calculate annual NOI or surplus payments.
• Assist in the underwriting stage from the asset management perspective, focusing on effective rents, income analysis, expense analysis, and property management company selection.
• Participate in loan restructuring requests for projects proposing recapitalization.
• Understand the long-term strategic plan of each property and assist in repositioning assets post-compliance period.
• Review and submit financial analysis of other projects in the IHFA portfolio.
• Review and analyze final approval of any increase or decrease in monthly rents for HOME and TC projects.
• Direct and advise property management companies on effective asset positioning and achieving financial goals.
• Develop and standardize reports and procedures to improve compliance monitoring and portfolio analysis.
• Review lease-up progress reports and monitor lease-up reserves.
• Assist in reviewing 5-year capital improvement plans.
• Monitor market trends, including new supply, job and population growth, and economic variables.
• Review physical inspections to ensure properties meet maintenance standards.
• Stay current with federal rules and regulations, and assist with HOME Annual Performance Reports.
• Maintain positive working relationships and ensure compliance with IHFA policies and procedures.

Requirements

• Bachelor's Degree in Business, Finance, Real Estate, Urban Planning, or a related area.
• 5-10 years of multi-family asset management and/or multi-family underwriting experience preferred.
• Knowledgeable about industry regulations, trends, and practices.
• Strong analytical skills and attention to detail.
• Ability to manage and monitor budgets, including reading and analyzing profit and loss reports.
• Excellent communication skills and proficiency in word processing and spreadsheets.
• Strong financial analyst skills and initiative to seek relevant information before making decisions.
• Knowledge of real estate terminology and concepts preferred.
• Familiarity with LIHTC program, HOME, NSP, and HTF is beneficial.
• Ability to maintain a big picture focus while managing detailed work and documentation.
• Demonstrated ability to work productively in a fast-paced environment with multiple projects and deadlines.
• Strong organizational skills to coordinate complex activities and prioritize conflicting demands.

Nice-to-haves

• Knowledge of LIHTC program, HOME, NSP, and HTF.
• Experience with public charter school facilities and revolving loan funds.

Benefits

• Competitive compensation packages
• Comprehensive health benefits
• Opportunities for professional development and growth